Belgrade library foundation outlines remaining capital pledges, endowment target and grand-opening plans

Foundation and library representatives updated the Belgrade Community Library Advisory Board on fundraising, remaining pledges and programming as the new library building prepares to open.

Mark (foundation representative) presented a three-page summary of the foundation’s operating budget, current balances and the history of the capital campaign. He said the foundation’s operating costs were modest ($2,730 listed for operating expenses in the materials he distributed) and that the foundation is transitioning from capital-phase spending to program grants and building an endowment. The board-approved goal for the endowment is $1,000,000 before annual distributions begin; the foundation estimated that once mature it could support roughly $30,000–$40,000 a year in programming at a 3–4% distribution rate.

Mark reported that a D.A. Davidson account held “a little over a quarter of a million” (market-valued, per the discussion) and that outstanding campaign invoices total roughly $770,000, with about $30,000 in smaller pledges remaining. He noted individual contributions mentioned in the meeting materials, including an initial $400,000 gift from the Malesnick family and a multi-year $50,000 Cook Family Foundation commitment being paid in installments (noted in the materials as $10,000 a year for five years).

Foundation representatives said they expect to cover some items the city did not budget for—examples cited included spring-loaded return book bins and other “punch list” items for the new building—and to underwrite some grand-opening expenses such as banners, printing and light catering. The foundation also reported receiving an in-kind donation of a Samick upright piano from Mark and Tracy Helgren; volunteers and a donor who is a piano technician helped move and tune the instrument for community use.

Library staff described programming and outreach while the building has been closed for relocation. Alina, the library director, reported ongoing off-site programs (story times at Head Start, kids’ exercise classes, curbside service) and staff training (naloxone training, fire-safety walkthroughs). Staff completed a physical inventory of the collection after the move—about 36,000 items—and reported missing-item rates similar to past years (staff said the collection’s missing-item rate remains very low).

Alina announced a ribbon-cutting grand opening scheduled for Saturday, April 5, with a 9:30 a.m. gathering and a 10:00 a.m. ribbon cutting, live music, demonstrations and family programming throughout the day. She said U.S. Senate offices had indicated their intent to send representatives to the event. Staff said they will have “all hands on deck” for the opening and expect a busy first week of public use.

The foundation and board discussed short-term operational priorities for the new building (seating, shelving, volunteer-driven service expansion) and longer-term aims (growing the endowment). No formal board vote was recorded on additional foundation disbursements at this meeting; foundation representatives said they will coordinate with city staff and the advisory board on priorities and approvals for expenditures and pledge accounting.