Manchester City Library

Manchester, NH's Online Library

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Library Trust Funds

April 1st, 2011 · 1 Comment · City Library, Trustees

Did you ever wonder how the library provides so many programs? Or how we manage to have a grand piano in our auditorium?

 The Libraries are fortunate to have had benefactors who made bequests to the libraries dating back to 1872. Members of the Manchester Community over the years have left parts of their estate or made bequests to the library to provide for future generations of library users.  The Manchester City Library Trustees have an endowment that consists of 30 named funds which generate interest income for the libraries to expend.  The Trust Fund endowment is professionally managed and currently has a market value of $3.3 million dollars.  We can only spend the income generated from these funds.  Every year a budget is set based on the income earned to expend.  We use these funds for library materials, programming, staff development, furniture, computer equipment, to maintain our grounds and to support the Learn to Read program.  If you are reading this posting on one of the library’s Internet Computers then you are using something which was purchased with our Trust Funds (courtesy of the Allen G. Cote estate).

 Some of our named funds will sound familiar to you if you know your Manchester history! Here are just a few tidbits about our funds:

Does the name Frank P. Carpenter sound familiar? He is the gentleman who built the main library on Pine Street!  When he passed away in 1939 he “bequeathed unto the Manchester City Library the sum of $25,000, the income of which only is to be used for the purchase of books or repairs on the building.”

In 1872 Mr. Oliver Dean bequeathed $5,000 “income of this fund will be appropriated to the purchase of books”.  Today the interest from this fund is used to buy Children’s Books.

In 1892 Mary E. Elliot made a bequest in memory of her husband of “$2,000 to be securely invested, the annual income spent for the purchase of medical books and publications.” 

In 1939 the gift of a piano from the Charminade Club to the Manchester City Library was made.  So our grand piano was a donation too!

In 1991 Ms. Stella Pinksa Keene left funds to support the purchasing of Polish related materials.  

The Mary C. Manning bequest in 1966 was made for any library purpose in the amount of $20,000.

The will of Mary Melville Tolman stated “I give and bequeath unto the Manchester City Library of said Manchester, the sum of two thousand dollars, the income of which only shall be used for the benefit of the Library, preferably for the purchase of books.” (1934)

Nora K. Jones left funds in 1958 to the Library Trustees and the income is unrestricted.  The income generated from this fund is used to purchase library materials and any needed furniture and equipment for the libraries.

Emily E. Smith in 1961 left $5,000 to the library.  Her will states: “the use and income to be applied annually to the purchase of books for the City Library, but the principle shall be kept unimpaired and as a separate fund.”

The Helene Mansur McCallaster fund was established in 1970 and the income only to be used “to purchase books and other materials for the use of the patrons of the library”.

In 1984 Mr. Edmund Bolan named the Manchester City Library as his only beneficiary. The annual income from this fund supports our library programming, staff development and landscaping.

Former Trustee Kevin C. Devine established the Clothilde Devine Fund in memory of his mother which has the restriction that the income be used for library staff development.

The John J. Sheehan fund was set up in 1993 to honor his many years of service to the Manchester City Library where he served as a Trustee from 1948-1988. His daughter, Karen Sheehan Lord, is currently a member of our board.  The income from these funds currently purchases books for the Branch.

In 2010 the Laurence Feldman fund was created with donations from his brother and sister. This memorial fund was established “to support computer and technology access at the branch as well as to support occasional holiday celebrations and programs for the patrons and staff.” 

In 1988 the estate of Adelaide Dodge bequeathed money to the library to support the purchase of books on the subjects of Art, History, Government and Literature.

 Frank H. Waters bequeathed $3,000 in trust for the City Library to be administered by the Trustees of the library to use the income from donation for the purchase of book for the library. Today we use these funds to buy Young Adult Books.

We truly appreciate having our Trust Funds so that we can enhance library services.  Careful stewardship by Library Trustees, past and present, has allowed these funds to grow and support our mission.

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