Friday, June 22 , 2018, 5:30 am | Overcast 60º

 
 
 
 
Advice

Friends of the Montecito Library Announces New Fundraising Strategy

At Monday’s Friends of the Montecito Library (FML) meeting, the Board of Directors agreeds to focus on a new fundraising strategy in light of recent county budget cuts that resulted in a 25 percent reduction in library hours from 45 hours per week to 36 hours per week.

The library will be closed on Sundays and Mondays.

The board unanimously agreed to focus its fundraising strategy on building the endowment, which currently stands at $600,000. The investments are being divested of CDs as they mature and into a conservative portfolio of stocks and bonds.

After the Friends of the Montecito Library meets its annual budgetary commitment with the county, remaining gifts will be used to boost the endowment.

The Montecito Library receives one third of its funding from Santa Barbara County, one third from reserves, which are funds that were donated to the Montecito Library but controlled by the county, and one third from donations from FML.

By moving to a more sustainable funding model, the board hopes to stabilize the library’s annual funding sources.

There was quite a bit of discussion of distributing more funds in order to keep the doors open six days per week, but it was decided that it was in the community’s best interest to take a long-term approach.

Once the endowment reaches a level where the distribution of the interest in the investment will pay for additional opening hours, the board will increase the funding that is given to the library’s budget. The board encourages the members of the FML and other library patrons to continue supporting the library through donations.

Donations can be made through the FML website. Checks are also accepted.

Please make checks payable to “Friends of the Montecito Library” and mailed to Friends of the Montecito Library, P.O. Box 5788, Montecito, California 93108.

FML is a 501c3 non-profit, so all donations are tax deductible.

—Patricia Saley serves on the Boad of Directors for the Friends of the Montecito Library.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through PayPal below, or click here for information on recurring credit-card payments.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Enter your email
Select your membership level
×

Payment Information

You are purchasing:

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >