“We’re encouraging each family in Mill Valley to make a gift in support of our treasured public library,” says MVLF Board Member Deborah Sorondo.
The appeals comes on the heels of the announcement earlier this year of a unique public-private partnership between the City of Mill Valley and the Mill Valley Library Foundation, under which the city released $350,000 – nearly half of a $661,419 donation in 2016 from the Zimmer Family Living Trust – to MVLF, the nonprofit foundation’s board says it has reached a capital base sufficient to initiate an endowment.
“Our foundation has historically funded library programs through yearly donor support of our annual campaigns and event fundraisers such as the foundation’s Storybook Ball and Beyond The Book Bash,” Andrew Shapiro, the board’s president, said at the time. “Prior to the creation of this endowment, funding amounts have been varied and unpredictable. The goal of this endowment is to perpetually and dependably support the library’s free, award-winning programming.”
Shapiro said the board determined that a starting endowment balance of $2.3 million was needed to perpetually provide consistent grant amounts to the library at levels approaching some of the foundation’s most successful fundraising years. The endowment begins distributing annual program grants to the library with an initial grant of approximately $65,000.
In an effort to continue to grow the endowment, the foundation reprised its “Beyond The Book Bash” fundraiser in September at the Throckmorton Theatre. The foundation also began a Legacy Giving program this year so it can directly accept and manage estate and planned gifts.