Agency Funds Build Lasting Support for Friends of Appleton Public Library
By Kara Sullivan, Executive Director of the Friends of Appleton Public Library
In the wake of the Covid-19 pandemic, the Friends of Appleton Public Library (Friends) was reminded how strong the community is when three couples stepped forward to support the nonprofit by creating new endowment funds with the Community Foundation.
Sandra and Dr. Monroe Trout, Connie and Peter Roop and Judy and Austin Boncher made donations to create three endowments as permanent sources of support for Appleton Public Library. Friends has established eight charitable funds within the Community Foundation to support its mission.
The Community Foundation provides a prudent investment vehicle for these gifts, which ensures that the library, through Friends, will have much needed resources for the future. The principal of each fund is protected in perpetuity with Friends receiving 4.5 percent of the average daily balance of the fund’s assets as an annual distribution. It’s a gift for many generations.
“A tax-exempt 501c3 organization can establish an agency fund, which allows the nonprofit to focus on its mission rather than spend time identifying and supervising investment managers. It also helps nonprofits with gift planning and endowment-building to ensure their long-term financial sustainability,” says Kelly Randerson, Community Foundation controller and agency funds contact.
New agency endowment funds:
- Sandra and Dr. Monroe Trout Appleton Library Endowment Fund- Supports innovation in children’s services, with a focus on tweens and reluctant readers, age groups that are often overlooked. and Mrs. Trout are committed to supporting children’s education.
- Connie and Peter Roop Appleton Public Library Endowment- Supports library programs and services related to nature, ecology, or the environment. As dedicated environmentalists committed to combating climate change, the Roops want to motivate and engage the next generation to care for our planet.
“Programs and services at our public library will be available to every interested community member allowing young and old to learn, appreciate, and be inspired to dedicate their lives to improving and maintaining our amazing, life-sustaining planet. Each of us can make a difference,” says Connie Roop.
- Judy and Austin Boncher Appleton Public Library Endowment – Supports music, reading, and participation in the arts. The fund will increase audio and large print books and enhance library programs like Symphony Storytime and other musical pursuits. They believe all community hearts deserve access to the arts.
“We believe every community needs a welcoming place that enables every community member to do research, find books, recordings, and visuals which they can easily access to enhance their lives. Education is possible through library recreation! Libraries are not an adjunct to a community…they are a necessity. We want our library to be here for everyone, all the time, forever in the future,” says the Bonchers.
Looking for unique giving ideas to make a difference in your community? Check out these tax-advantageous ways to give now.
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