Financials & Annual Reports
The Duluth Library Foundation exists to support, enhance, and advocate for the life-changing work of the Duluth Public Library. The Foundation has a fiduciary responsibility to be a good steward of the donations entrusted to us, to ensure that gifts are used for the purposes intended by the donors and in coordination with the Duluth Public Library. We take this responsibility seriously. To ensure the sound use of private funds, the Foundation has established a Finance 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.
The Board has oversight of all Foundation finances.
Gifts in the Duluth Library Foundation investment account are invested strategically to preserve their original value and generate income. Income generated from the investment account is used to support library programs and projects in partnership with the library. The Duluth Library Foundation is a 501(c)(3) charitable organization registered with the IRS and the State of Minnesota.
I Love My Library!
Tell me more about the life-changing work of the Duluth Public Library.