POUND RIDGE LIBRARY FOUNDATION
2006-2011 CAPITAL CAMPAIGN QUESTIONS AND ANSWERS
What is a Capital Campaign?
A capital campaign is a special, time-limited effort to raise a large amount of money for a specific purpose. The funds raised can only be used for the purpose for which they were solicited, rather than for general operations– in this case, for improvements to the Library building.
Why a Capital Campaign now?
The Library Board and staff have identified lack of space and some basic flaws in the current building as problems that hinder service to the public in a manner consistent with 21st century library standards. Architect Donald MacDonald, who specializes in library design, was consulted and a plan addressing the building’s problems has been proposed.
How much is needed?
The plan under consideration by the Library’s board is scheduled to cost approximately $ 3 million.
How often has this kind of effort been made?
The Library has required a special campaign twice before in its history: in 1952, when it was created; and in 1973, when the community room was added; in other words, approximately once every generation.
Has any money been raised already?
To date, the Foundation has gifts and pledges of approximately $865,000. Members of the District Library Board and of the Pound Ridge Library Foundation have personally given or pledged $195,000 so far to the fund.
What are leadership gifts?
Leadership gifts are contributions of at least $ 5,000, to be given up-front or over a period of three to five years. Given the size of our town and the amount that needs to be raised, the campaign requires 500-600 gifts of this size (or more) if it is to succeed. Already 29 families have stepped up to the plate. Won’t you?
I don’t have that kind of money. How can I contribute?
Every gift to the Capital Campaign is welcome regardless of size. Just write “Capital Campaign” on your check’s memo section. All such gifts will be reserved for the building fund. Making a three or five year pledge to the campaign allows you to spread out your payments and make a bigger contribution overall.
How can I make my contribution?
The Pound Ridge Library Foundation accepts checks, money orders and gifts of securities. Contributions can be sent to Pound Ridge Library Foundation,P.O. Box 515,Pound Ridge,NY10576.
Are gifts to the Capital Campaign tax-deductible?
The Pound Ridge Library Foundation is a 501c3 tax-exempt organization. All gifts made to the Library through the Foundation are tax deductible to the maximum extent allowed by law.
I already give to the annual appeal. Isn’t this enough?
About 300 households respond to the Library’s annual appeal, generating approximately $30,000. These funds help pay for items in the Library’s wish/needs lists not covered in its regular budget. Relying on the annual appeal alone, it would take over 100 years to raise the money needed for the building’s addition.