The Duluth Library Foundation has a fiduciary responsibility to ensure that all gifts are used for the purposes intended by the donors. We take this responsibility seriously. To ensure the efficient use of private funds, the Foundation has established a Financial Committee to:
- Provide financial oversight for the accounting, management, and investment of all donations
- Establish an internal management control system
- Review and approve an annual operating and grant budget before presenting it to the board for adoption
- Monitor the use of restricted funds and establish spending policies for all resources.
Endowment funds are invested strategically to preserve their original value and generate income. Income generated from these funds are used to support Library projects funded by the Foundation. The Duluth Library Foundation is a 501(c)(3) charitable organization registered with the IRS and with the State of Minnesota.
The Duluth Library Foundation Annual Reports:
The Duluth Library Foundation’s IRS 990 Forms: