How it works:

• The process begins when a community has the desire and opportunity to support its library’s annual campaign, a capital improvement project or an endowment program.
  
  
• As the library receives contributions from donors, the library board or the library's Friends' group transfers money to the SELCO Library Foundation for safekeeping and public accountability.
  
  
• If charitable gifts are for an endowment fund or will not be needed for a period of time, the SELCO Library Foundation will work with the library to set up a prudent investment program.
  
  
• When a library is ready to expend donated funds, the SELCO Library Foundation will provide oversight to ensure funds are used as donors’ intended.
  
  
  

Services Provided by the Foundation

• Establish a savings or investment account for charitable gifts that are being held on behalf of a library.
  
  
• Keep accurate accounting records of dollars received, earnings accrued and withdrawals. Keep a library’s account segregated by type (e.g., unrestricted, designated, endowment).
  
  
• Provide library with regular reports on account status and fund balances.
  
  
• Strive to ensure that government agencies which support libraries do not use a library’s successful fund-raising efforts as a way to reduce their local tax support to that library.
  
  
• Assist with fund-raising, planning and marketing.

Foundation Board: foundation_board@selco.info

Web Requests: foundation@selco.info