Cranbrook Public Library launches endowment fund
$10,000 invested with the Cranbrook and District Community Foundation
The Cranbrook Public Library is investing in its future.
A $10,000 cheque was presented to the Cranbrook and District Community Foundation (CDCF) on December 10 to establish the Cranbrook Public Library Endowment Fund. Every year, The Cranbrook Public Library will financially benefit from the interest income earned off its fund.
“This year we celebrated our 90th anniversary,” said Ursula Brigl, Chief Librarian. “The library has been around almost a century and we plan to continue to serve this community for centuries to come. That is why we are taking these first steps towards a permanent endowment fund which will help to contribute to our vision of a sustainable financial future.”
The library endowment fund was partly established with money raised at the 1920s Gala Fundraiser Nov. 21 at the Royal Alexandra Hall.
“We are very grateful for the ongoing support from our donors, community, and Friends of the Library, who helped us reach our $10,000 goal and made this endowment fund a reality,” said Denine Milner, library board chair. “It is a new and exciting opportunity for all of us.”
CDCF endowment funds are held in perpetuity, which means the Cranbrook Public Library Fund is not only secure and permanent, but will grow stronger every year.
“We are so excited to work with the Cranbrook Public Library to launch their fund and will be putting forward a committed and ongoing effort to grow it and maximize its return to the library,” said Riley Wilcox, CDCF executive director. “We are passionate about connecting donors to community needs and opportunities with the ultimate goal that all citizens benefit from the best our community can offer in arts, recreation, health care, education, and social services.
“Together, we can build strong and resilient places to live, work and play.”