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Belgrade library foundation reports $70,000 in cash, $347,004 invested; library outlines anniversary and program plans
Summary
Foundation leaders reported $70,000.94 in cash accounts and $347,004.16 in investments after a $43,000 transfer; library director outlined rising foot traffic, staff additions, donated guitars for in-house use and a one-year anniversary celebration with activities for families.
The Belgrade Community Library foundation reported current cash and investment balances and outlined plans for upcoming fundraising and community programming during the joint advisory/foundation meeting.
Foundation treasurer reported cash-account balances totaling $70,000.94 and said the foundation has transferred $43,000 this year into a DA Davidson investment account, which shows $347,004.16 in the latest monthly report. The foundation passed a resolution to let the investment account build toward a $1,000,000 target and estimated an eventual annual draw of about 5% to support library budgeting.
"We have two cash accounts ... for a total of $70,000.94," the foundation representative said, and noted the transfer into the investment account and the board’s intent to preserve operating-frugality while growing a spendable endowment. The foundation also described routine operating expenses, recent transfers to the library ($78,892.35 to date), and modest grant-writing costs.
Fundraising and outreach plans: foundation leaders outlined participation in the Give Big campaign, a Mayday/Mother’s Day brunch fundraiser, and promotional allocations of an expected $500 kickoff allowance for the local kickoff event. The foundation is also coordinating partnerships with local groups for a community-wide spring event the foundation is leading this year.
Library operations and programming: the director reported a substantial increase in foot traffic since the new facility opened, citing monthly counts consistently in the "double digits of 10,000" compared with prior facility highs near 4,000–9,000. Staff and programming updates included new hires in adult and children’s services, seed-library grant funding, a planned summer makerspace and 3-D printing classes, and exploration of hearing-loop and low-vision tools.
Donations and equipment: the director announced two donated guitars from the Bozeman Rotary Club and Gibson Guitar Center, valued at about $3,000 and $2,000 respectively, to be added to the library’s "library of things" with in-house checkout only due to their replacement value. The library will also offer an anniversary event on a Friday in April with an egg hunt, live music, drum circle, police and fire vehicle tours, wildlife presentations and food trucks.
Votes at a glance: the advisory members approved the January 27 meeting minutes with corrections in a voice vote; at the meeting’s close the board moved and seconded a motion to adjourn, which passed.
Next steps: the foundation will continue to steward investments and coordinate Give Big and local fundraisers; library staff will return with annual statistics (circulation, ILLs and popular genres) at the May meeting and finalize staffing proposals for the budget season.
