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Kitsap Regional Library Foundation reports $893,000 raised in 2024; seeks lead gift for Port Orchard campaign
Summary
At the May 27 Kitsap Regional Library Board meeting, Wendy Kyle presented the Foundation's annual report: 2024 revenue was $893,000, the five-year rolling return-on-investment is 292%, and the Foundation is focusing on securing a lead gift for a Port Orchard campaign while working to improve its cost-to-revenue ratio.
Wendy Kyle, executive director of the Kitsap Regional Library Foundation, told the Kitsap Regional Library Board of Trustees on May 27 that the foundation raised $893,000 in 2024, exceeding its annual fundraising target and reporting a five-year rolling return on investment of 292 percent.
The foundation reported a 2024 cost-to-revenue ratio of about $0.50 to raise a dollar, above its internal target of $0.35. Kyle said the higher cost ratio reflected investments made in 2023, including adding a staff position and commissioning a…
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