August 13, 201

Called to order at 1:01pm by Chairman Golz

Present:        Englebert, Golz, Lane and VanderHeyden
Also Present:    Michelle Lippert Hardwick, Director of Gift Planning at the Community Foundation for the Fox Valley region, Inc., Director Lenz and Dreyer (Business Manager)

Public Comment/Communication:  

Approval of Minutes
Motion made by Englebert, seconded by Lane to approve the Finance & Investment Committee meeting minutes from July 18, 2019.  Motion carried.

Discussion/Action Items
Discussion with the Community Foundation for the Fox Valley Region, Inc.  
Michelle Lippert Hardwick, Director of Gift Planning at the Community Foundation for the Fox Valley Region, Inc., was asked to talk about how to help us grow our foundation, support programming through Community Foundation grants and utilize our relationship with the Community Foundation more effectively.  Our 2019-2023 Strategic Plan states that we will establish an endowment plan to ensure the long-term viability of the library with the initial plan to be completed by 2022.  The benefits of having agency funds is to tap into the resources at the Community Foundation.  Michelle suggested identifying those people who are closest to the organization and already give to the library and build on those relationships.  Nonprofit Next provides online resources for Fox Valley area nonprofit leaders.  There are also grant workshops that the Community Foundation provides that are useful when applying for grants.  The Bright Idea Fund awards three kinds of grants:   Discovery (strategic planning processes), Spark (for one-time smaller grants of up to $2,500 for events and up to $5,000 for projects) and Bright Idea (support innovative ideas that help meet the ever-changing needs of our community and enrich its quality of life).  The Bright Idea Fund focusses on five focus areas:  Arts & Culture, Basic Needs & Self Sufficiency, Community Development, Environmental Sustainability and Nonprofit Effectiveness.  The Community Foundation can help facilitate a strategic development plan with a targeted approach.  She suggested making how to donate easy, visible and emphasize how much we welcome support.  Donors are attracted to restricted giving and supporting specific programs/services.  A leadership gift would help show momentum in a campaign.  It is also important to track the donations. (Michelle Lippert Hardwick left the meeting at 2:03pm.)

What is our purpose/reason for growing the endowment?  The answer(s) to this question will help give us a list of people.  We could introduce the campaign at a community event.

Library Budget 2020
A 2020 city budget was drafted. The cost for health insurance is still unknown.   

Committee members:
Added a 19 hour per week Outreach Coordinator position
Decreased the materials budget

Motion made by Englebert, seconded by Lane to submit the 2020 operating budget as allocated to the Board of Trustees for approval.  The motion was unanimously approved.  

Motion to adjourn the meeting at 2:39pm was made by VanderHeyden and seconded by Englebert.   Motion carried unanimously.

Respectfully submitted,
Kathy Dreyer, recording secretary