{"id":76541,"date":"2014-03-13T14:58:50","date_gmt":"2014-03-13T18:58:50","guid":{"rendered":"https:\/\/www.bates.edu\/news\/?p=76541"},"modified":"2018-11-09T13:01:56","modified_gmt":"2018-11-09T18:01:56","slug":"report-dillingham-82-library-endowments","status":"publish","type":"post","link":"https:\/\/www.bates.edu\/news\/2014\/03\/13\/report-dillingham-82-library-endowments\/","title":{"rendered":"Report by Walter Dillingham ’82 ‘cracks open the books’ on library endowments"},"content":{"rendered":"

You hear the word “endowment” and you probably think “college.”<\/p>\n

\"Walter<\/a>

Walter Dillingham ’82<\/p><\/div>\n

But Walter Dillingham ’82 reminds us that other non-profits have endowments too, like libraries.<\/p>\n

Dillingham, managing director for endowments and foundations at Wilmington Trust, has coauthored a study of 1,300 library foundations that support public and presidential libraries.<\/p>\n

According to a story in Pensions & Investments<\/em><\/a>, the estimated combined assets of library foundation endowments is between $2.5 billion and $3 billion.<\/p>\n

Located in New York City, the New York Public Library and the Morgan Library and Museum have the largest library endowments, with $1.1 billion and $156 million, respectively.<\/p>\n

The library endowment report is significant, reporter Barry Burr writes, because it “cracks open the books on a little-examined asset-owner segment” of the endowment world, thus “shedding light on an area for prospecting for investment management services.”<\/p>\n

“We expect these foundations to grow.”<\/p><\/blockquote>\n

The library endowment figure is dwarfed by the total dollars of U.S. college endowments, pegged at about $448.6 billion, according to the most recent study<\/a> by the National Association of College and University Business Officers of 835 colleges and universities.<\/p>\n

\n
Though library endowments represent a small segment, it should grow in importance, says reporter Barry Burr, “as municipal libraries, facing government budget restraints, look to build their foundation’s source of funding.”<\/div>\n
\n

Says Dillingham, \u201cWe expect these foundations to grow as fundraising becomes more important…. How they manage assets is important.\u201d<\/p>\n

 <\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

You hear the word “endowment” and you probably think “college.” But there’s more out there, says Walter Dillingham ’82.<\/p>\n","protected":false},"author":104,"featured_media":76584,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_hide_ai_chatbot":false,"_ai_chatbot_style":"","associated_faculty":[],"_Page_Specific_Css":"","_bates_restrict_mod":false,"_table_of_contents_display":false,"_table_of_contents_location":"","_table_of_contents_disableSticky":false,"_is_featured":false,"footnotes":"","_bates_seo_meta_description":"","_bates_seo_block_robots":false,"_bates_seo_sharing_image_id":0,"_bates_seo_sharing_image_twitter_id":0,"_bates_seo_share_title":"","_bates_seo_canonical_overwrite":"","_bates_seo_twitter_template":""},"categories":[7,44,220,11009],"tags":[11051,1891,11047],"class_list":["post-76541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alumni","category-enewsletter","category-service","category-the-college","tag-bates-in-the-news","tag-business","tag-finance"],"_links":{"self":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts\/76541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/users\/104"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/comments?post=76541"}],"version-history":[{"count":10,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts\/76541\/revisions"}],"predecessor-version":[{"id":120254,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts\/76541\/revisions\/120254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/media\/76584"}],"wp:attachment":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/media?parent=76541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/categories?post=76541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/tags?post=76541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}