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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 Port Orchard feasibility study and campaign plan; the foundation later eliminated that added staff position after the Port Orchard campaign timeline slowed.
The foundation is pursuing several 2025 goals it presented to trustees: secure a lead gift for the Port Orchard capital campaign; reach a $410,000 target for unrestricted fundraising; expand planned giving with a goal of 10 new planned gifts; run at least two estate planning education events (four are currently planned); and recruit three new foundation board members. The foundation also reported it had achieved a target of 350 total donors through Kitsap Great Give so far this year.
Kyle briefed trustees on external risks that could affect fundraising results, including the library levy on the ballot, inflation and cost-of-living pressures, federal funding cuts that have already affected at least one grant funder, and broader national trends showing fewer households giving annually. Board members and library leadership framed the foundation’s work as ongoing community outreach: “Our job, no matter what is happening, is to talk about all that the library is, all that the library does, and invite our community to support,” Kyle said.
Board members praised the foundation’s long-term return on the library’s investment; the foundation noted that since the library began staffing the foundation in 2012, the library has netted more than $5 million in private support. Trustees and staff said they will continue coordinated communications and fundraising work as the library moves into its levy year and as Port Orchard planning continues.
