Every contribution given to the Shasta Library Foundation is carefully managed in order to provide the greatest benefit to those using the Library and participating in its programs. The Board of Directors carefully reviews the financial status of the organization on a monthly basis and has strict financial controls in place for both income and expenses. Low administrative overhead is maintained, volunteer and donated resources are utilized wherever possible, and we are ever mindful of our fiduciary responsibilities to our donors and the general public.
The primary goal of the Board of Directors and the purpose of the fundraising efforts of the Shasta Library Foundation are to build an endowment sufficient to meet the long-term, multi-generational needs of the Shasta Public Libraries system.
The Shasta Library Foundation has both endowed and non-endowed funds: General Endowment Fund, Individual Endowment Funds, Special Funds. Endowment funds are invested strategically to preserve their original value and generate income. Income from these funds is used annually by the Foundation to support Library resources and services.
This is a segregated fund that consists of all monies and properties received by the Foundation which are specifically designated by the donor for the Endowment Fund. All donations to the Endowment Fund may NEVER be spent – only a percentage of the EARNINGS can be used to provide funds for the Libraries. The goal is to have permanent growth of the Endowment Fund – through reinvestment of earnings, increased value of assets, and new contributions. The initial goal is to build the principal of the Endowment Fund to an amount that will allow for an annual contribution of the earnings in an amount of approximately $200,000 to the Libraries to assist in meeting the funding needs of the Libraries.
A permanent endowment for approved purposes may be established with a minimum gift:
Special funds may be established to receive donations designated for a specific purpose. The Book Fund is currently the only special fund administered by the Shasta Library Foundation.
Shasta Library Foundation
PO Box 993366, Redding, CA 96099
(530) 246-0146
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