Your Library and Its Finances

Donations, grants from non-profits, and funding from library support groups all fall in this category. Whether the money has stipulations on it is determined by the funding body.

Library boards should have a gifts and donation policy to guide the director on when to accept a donation.

If the library has a friends or foundation group, it is wise for the director and perhaps one board member to have a relationship with that group. Attendance at their meetings and regular communication can ensure that the library support group is assisting the library in meeting the needs of the community.

Grants to non-profits can extend library services and help the library find funding for one time only projects or pilot programs the library wants to try. These grants usually have stipulations on how the funds may be used, so directors will want to monitor and track the expenses paid for with grant funds.