A tradition of responsible stewardship
The roughly $1 million gap between public support and the cost of leading-edge library services and materials has traditionally been bridged by gifts, grants, the generous support of the Friends of the Library, state aid, fees and other income. This yearly budget gap is but one reason the library continues to seek support of our endowment, currently valued at nearly $12.5 million.
An endowment provides a secure source of income and puts the focus squarely on the continued development of the innovative library services our community has come to expect.
With a well-funded endowment, staff members are no longer required to seek funds that could make or break a new program or service. They have more time to think creatively and to better serve the more than 70,000 patrons who attend more than 2,000 library programs every year.
The library’s endowment fund is professionally managed and invested conservatively for real growth after inflation. Experienced advisors who serve on our volunteer Investment Committee regularly monitor portfolio performance to ensure that the library achieves the objectives outlined in the Investment and Policy Guidelines approved by the Princeton Public Library Foundation Board of Directors.
Investment Committee Members
Brett Bonfield, Library Exec. Dir.