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Board accepts endowment report and approves $5,600 in Art Education Endowment grants
Summary
Board accepted the 2026 Library Endowment Funds Report (managed by the Alaska Community Foundation) and approved three Art Education Endowment projects totaling $5,600 from a $25,641 spendable balance; also acknowledged $24,000 in recent donations from John J. McCabe.
The Board reviewed and accepted the annual Library Endowment Funds Report noting significant increases in fund balances; the endowments are held and managed through the Alaska Community Foundation with reported spendable amounts as of Jan. 29, 2026. Separately, the Board approved three recommended Art Education Endowment (AEE) funding requests totaling $5,600 against a current spendable balance of $25,641.
The Board also reviewed two recent donations from John J. McCabe — $12,000 on Dec. 23, 2025 and $12,000 on Jan. 20, 2026 — and unanimously approved an acknowledgment letter and authorized the Library Board Chair to sign. The AEE grants and donation acknowledgments were approved as presented.
