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Why
Do We Seek Private Gifts?
Would
you like to really make a difference?
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Perpetual
gifts-bequests and endowments-have become the keys
to maintaining current library and research resources.
With a substantial gift you may specify support
for library purchases in a particular area of study,
enlarge an established purchase fund, or support
a specific activity or need. For instance, due to
the generosity of several donors, Special Collections
is now fully funded, except for its professional
staff positions. Details can be arranged many ways.
Establishing such generosity properly involves the
library but needs to involve the University Advancement
office as well, since they coordinate gifts to the
University. They can advise in tax-advantage matters,
donating or converting stocks or securities, planned
or deferred programs, or appreciating assets. Donors
may specify the purposes to which income may be
used, but when setting terms, please remember to
leave the library latitude to respond to changing
times and circumstances. Here are some specific
needs that your gift might support.
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UTM Alumni Endowment Contributions of cash
or convertible securities in any amount provide
a permanent income-producing support for acquisitions.
Income from the Endowment funds purchases for
the general collections.
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Library Development
Fund: An annual-giving opportunity that
supports annual library purchases directly
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Preservation
Endowment:
Preservation
is always an important issue to libraries. Currently
the library needs to repair 40-60 volumes per
week, representing a substantial cost. Income
from an endowment for preservation will provide
for the upkeep of print materials, and repairs,
rebinding, and replacement of current material
as merited, including the protection of new library
acquisitions. As the major point of access to
the world's intellectual record, libraries must
also be preservers of that record. New generations
of students and faculty must have on hand the
books, journals, and reference material they need
for learning and research. Your gift would help
preserve the materials students use on a daily
basis.
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Endowed
Positions:
Librarians teach students. Having knowledgeable,
qualified library staff on hand to serve students
and faculty is a vital campus asset. Ensure excellent
services by endowing a position in the Library.
Endowment income will be used to pay all or part
of the position's salary and benefits, freeing
budgeted funds to meet other pressing staff needs.
Funding for new positions has become critical.
Despite the demands for more services, greater
implementation of technology, and increasing reference
contacts, the number of professional positions
in the Paul Meek Library has remained virtually
static.
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Facilities
Endowment:
Everyone thinks "books" but rarely ever "shelves"
when discussing funding support, yet one of the
most overlooked Library needs is capital improvements.
A fund of this type would keep the University's
capital improvements budget from being nickel-and-dimed
to death! It would allow us to repair or replace
furniture, acquire new shelving, make repairs
and upgrades, modify or improve the environmental
controls as necessary, rather than wait for improvement
or repair requests to cycle through the University
budget priorities. Unspent income would also provide
a capital pool for financing major facility upgrades
when needed. Help us keep the Paul Meek Library
looking like the beautiful place it was designed
to be.
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Acquisition
Endowments:
Acquisition endowments given by individuals or
collectively by several donors provide the permanent
means to acquire research materials for future
generations. A named library endowment may be
established with an initial gift of $25,000 or
more; income from endowments underwrites purchases
of books, journals, microfilm, or other materials
for the Library collection. Whether it funds print
or electronic media, named library funds provide
unique opportunities for ongoing support for specific
disciplines, by type of material, or program interest.
Books bought with endowment income have an identifying
bookplate placed in each item purchased; periodicals
carry the same plate when they are bound.
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Library
Fund for Excellence: Periodicals-academic journals, databases,
and index/abstract services-are near the heart
of a collegiate education. Library subscriptions
for a journal are typically three to five times
the cost of an individual subscription. Beyond
that, in the past twenty years subscription prices
have inflated dramatically, impacting the resource
support that the library is able to offer academic
programs. We have been forced to severely reduce
the titles we want, just to meet rising costs
for titles we must have. Gifts made to this fund
specifically endow subscriptions to periodical
literature and databases needed by students in
their academic research. Cash or convertible donations
of any amount may be made.
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It Makes a Difference
Income from
the West Tennessee Banking Fund provides
databases and other materials related to
business and accounting. The Naomi Stover
Ryan Fund supports general book purchases
for the circulating collection. Income from
the Corbitt Endowment allowed the library
to acquire copies of virtually every edition
of every book written by UTJC professor
Harry Harrison Kroll (1935-1957), together
with photocopies of his correspondence;
thus, the Paul Meek Library now houses the
definitive collection on Tennessee's most-published
author of the 20th century and his work.
The Harold and Maude Smith Endowment supplies
materials and equipment for the publicly
accessible Regional History room.
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Paul Meek Library
Existing Endowments
- UTM
Museum Gift Fund – An open unrestricted-gift
fund supporting the operations and exhibits of
the University Museum
- James
S. and Alliene Corbitt Special Collections Endowment – Endowment established to fund the operations
of the Special Collections sections
- H.
L. and Maude W. Smith Library Endowment – Endowment supporting the acquisition of materials
and equipment for the Northwest Tennessee Heritage
Study Center
- Morrow
Memorial Library Endowment – Endowment funding
the purchase of library materials on Tennessee
and American history
- Naomi
Stover Ryan Endowment – Income-producing
fund established by a bequest to the University
to support general purchases of library materials
- Alumni
Library Endowment – Open unrestricted-gift
fund supporting purchases for the general circulating
collection
- Library
Development Gift Fund – Open gift fund for
disbursing money made as general gifts to the
library and memorial contributions made by private
individuals
- West
Tennessee Library Banking Endowment – Endowment
supporting the purchase of periodicals, databases,
and books relating to business
- Educational
Resource-Support Endowments – Endowments
created for each of UTM’s five colleges
to support purchases of library materials within
the respective subject areas
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