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.

Request for Proposals - Investment Management Services

The Duluth Library Foundation has issued a Request for Proposals (RFP) for Investment Management Services. The Foundation periodically evaluates investment management services to ensure Foundation funds are being managed appropriately according to donor intent and the long-term health of the organization.

Background Information
The Duluth Library Foundation is issuing this RFP to retain a firm to act as an investment advisor and portfolio manager. We are seeking a firm with experience serving non-profit clients. The Foundation is a 501(c)(3) non-profit organization whose mission is to champion the Duluth Public Library and work to increase its capacity to serve the region. The Foundation was formed in 1990 from a bequest left to the library. The investment account value has grown to just over $2M.

Submission Deadline: October 2, 2023

Access Full Duluth Library Foundation RFP – Investment Management Services

Please contact Erin Kreeger with any questions:

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