What is the purpose of the Foundation? The purpose of the Foundation is to establish an endowment to be used for the benefit of the programs, operations and capital structure of the Hillsdale Free Public Library and to engage in other activities that assist the library in fulfilling its mission of serving the residents of Hillsdale.

Who makes up the Foundation? The Foundation consists of a Board of Trustees that is comprised of representatives the Library Board of Trustees, a representative from the Friends of the Library and volunteers from the community. The Trustees serve terms between one and three years.

Why was the Foundation created? The Foundation was originally created to manage the spending of the gift from the Gayle and Paul Gross Foundation. The Foundation initially has the dual purpose of managing the spending of this gift in accordance with the terms of the Agreement with the Gross Foundation, as well as investing some of the proceeds of this gift so the benefits to the library will extend well beyond the period of the actual donation. In addition, the Foundation will seek to expand upon this initial gift by soliciting and receiving contributions from others through fundraising activities including but not limited to private donations, planned estate giving and government and non-government grants for the benefit of the Hillsdale Free Public Library.

How will the Foundation use the proceeds of the initial gift? It is important to understand that the original gift from the Gayle and Paul Gross Foundation is payable to the library in 10 annual installments of $100,000. According to the terms of the Agreement, the gift must be used exclusively to benefit the library, strengthening the programs of the library, encouraging wider interest in the library and raising the funds necessary to supplement the library’s budget. The gift is intended to support new or expanded library programs and initiatives with an emphasis on innovations that that will attract and involve all facets of the community.

How do donations to the Foundation differ from donations to the Friends? Donations to either organization ultimately go to benefit the library and the library has more than enough needs that can be supported by both organizations. The Friends have traditionally conducted community-based fundraising and will continue to do so while the Foundation will be seeking to raise funds from alternate sources.

contact: foundation@hfpl.org

IRS Determination Letter

Bylaws of the Foundation