The annual book sale will continue. So will the annual bake sale. But the Friends of the Middletown Public Library took their fundraising to a new level recently with the creation of a permanent endowment that will generate income each year for the Library.
The fund, established at The Rhode Island Foundation, will “help secure the future of our Library,” according to Dorothea Baernthaler, president of the 24-year-old Friends of the Middletown Public Library. “We want to ensure that funds are available for the Library – for special needs, for things that are not in the budget, for unexpected emergencies,” Baernthaler explains on behalf of the more than 200 individuals, families, and businesses that comprise the Friends organization.
The initial $10,200 in the endowment is from two bequests the Friends received in recent years and from a member of the Friends who designated her United Way gift to the endowment. “An important feature of this endowment is that funds can be added to it in any amount at any time,” Baernthaler notes, adding, “We hope to contribute portions of the revenue we raise from our annual events, and we welcome contributions from anyone interested in the long-term quality of the Library.”
Robert Balliot, director of the Library, shares the Friends’ enthusiasm for the new venture. “I think it is wonderful that the Friends of the Middletown Public Library have been able to establish this endowment fund. The Friends provided the initial funding to launch the current Library expansion project [a 3,000 square foot addition to the existing 10,000 square foot building]. Now the Friends have expanded their ability to provide funding and support to the Library by taking advantage of the Foundation’s financial expertise and organizational savvy.”
Baernthaler agrees. “We like the idea that we have professionals managing the money. Potential donors should feel good, too, knowing their contributions would be in good hands.”
Balliot points out that while the endowment is new, the Library’s relationship with the Foundation goes back to 1948 when the Foundation awarded the Library $625 for a new furnace. Other Foundation support has been secured through the years for additional improvements to the 155-yerar-old Library.
Middletown is the fourth library in the state to establish its endowment at the Foundation, following in the footsteps of Narragansett, North Kingstown, and Jamestown. Eleven additional funds at the Foundation, established largely through bequests, are designated for libraries throughout Rhode Island.
Persons desiring additional information on the fund should stop by the Middletown Public Library at 700 West Main Road, Middletown, or call the library at (401) 846-1573.