Lewes Public Library announces new endowment fund

The Lewes Public Library is seeking donors for its newly established Underwriters Endowment Fund in order to establish a long-term funding source for library operations.

An independent, nonprofit organization, Lewes Public Library receives only half of its funding each year from taxes and government sources. The other half must be raised by the library annually through major fundraising efforts by staff and volunteers. Contributions to the endowment fund will support the library in perpetuity and begin at $2,500. Donations may be made at once, pledged over a period of one to five years, or through a bequest. All contributions are tax-deductible to the extent allowed by law.

“We feel Independence Day is the perfect time to announce the creation of our endowment,” said Hugh Leahy, library board president. “Now that the new building is fully functional and paid for, our final task is to ensure the library will be maintained and supported in the long term. Reliable income generated by the endowment will allow the library to achieve greater financial stability.”

The Underwriters Endowment Fund establishes a $5 million endowment goal over five years, with earnings to be used for board-approved operating expenses such as books and materials, programs, staff salaries, building operations and educational activities. This is the final 30 percent of a long-term fundraising goal to build and maintain the new, state-of-the-art library facility that opened in 2016.

“Most people don’t realize how much of our budget – and our ability to serve the community – relies on successful annual fundraising,” said Lea Rosell, Lewes Public Library director. “It is a huge undertaking every year for our staff and volunteers.”

Government funding for the library is also subject to change, depending on budgets. “This leaves the library vulnerable in times of economic downturn and disruption,” said Rosell. “The endowment will not only provide financial independence and long-term stability for the library, but will also allow us to focus all our efforts on serving patrons, delivering exceptional programs, and providing essential resources for the community.”

The fund was inaugurated with a generous donation of $50,000 from Lewes residents Gavin and Lou Braithwaite. “Giving to an endowment is a forever gift, since the amount donated is permanently invested and only the earnings are spent to help run the library,” said Gavin Braithwaite. “By making this gift, we want to ensure that future generations will benefit from something that has meant so much to us.”

Donors will be remembered in a display in the library’s lobby, and those contributing $25,000 or more – or donating any amount through a bequest – will be named in the library’s Legacy Society. Gifts may also be anonymous. For details or to make a contribution, contact library Development Director Rebecca Lowe at Rebecca.Lowe@lib.de.us or 302-645-2733.

The Underwriters Endowment Fund is designed to allow donors to pool resources to build a financial foundation for the library over time. Leahy said, “We know taxes here in Sussex County are low, and the library is only partially supported by our taxes. Pledging support over years can make good sense for many in our community who value all that the library provides, and can be a wonderful legacy opportunity.”

The Lewes Public Library is the busiest library in Sussex County, welcoming over 195,000 visitors and offering over 1,200 free classes, workshops, and activities each year. The library creates and supports programs for all ages. It encourages a love of reading, exploration and discovery, and provides access to educational, informational and recreational materials to all members of the community through traditional resources and emerging technologies. For more information, go to lewes.lib.de.us.