Many libraries, academic and public, are beginning to consider establishing endowment funds based on models successfully employed in hospitals, academic institutions, and major arts organizations throughout the United States. An endowment is a pool of assets held by an institution and invested for long‐term growth. The annual income (interest) from the endowment can be used by the institution or reinvested to expand the endowment. The principal of the endowment (the corpus) should not be “invaded” but, rather, permitted to grow and accrue more interest.
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