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Restricted and Unrestricted Endowments
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RESTRICTED AND UNRESTRICTED ENDOWMENT FUNDS
Endowments are monies in excess of $10,000.00. They may be restricted, where only the income may be expended, or unrestricted, in which case the income goes to the Association's general fund and the principle may be accessed.
Miss Galvin's bequest is the single largest received in the history of the Association. Her bequest has allowed the Association to make large-scale capital investments including: the purchase of properties adjacent to the Library from which all parking has been created, the custom construction of all the Library's mediamobiles and underwriting the cost of all specialized construction during the 1990 renovation of the Main Library.
Miss Hapner left her home to the Association in 1971 as a bequest. The property was sold and the proceeds held for the benefit of the Spencerville Branch of the Lima Public Library. When the new branch was constructed in 2000, her fund, the largest single contribution, made construction of the new facility possible.
Click this link for a list of Memorial Endowments
Click this link to make a contribution to a Memorial Endowment Fund
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