Posted November 15, 2021.
A Generous Past and an Enduring Future for Lake Forest Library
Lake Forest Library was built on philanthropy. By providing the funding for the construction of the 1931 building, Mrs. Charles H. Schweppe and Mrs. Stanley Keith gave generously in support of community literacy and the public good. The building commemorates Mrs. Keith’s first husband, Kersey Coates Reed, and the Reed Family has continued to give throughout the years, ensuring the building evolved alongside the Library’s evolving collections, services, and programs.
The Lake Forest Library Foundation owes a great debt of gratitude to the generations of donors who have come before it. The Foundation is committed to sustaining and extending this bold tradition of philanthropy with the establishment of a permanent endowment for the Library.
Endowment gifts are invested and the principal is kept intact, which creates many positive outcomes for the Library and Lake Foresters:
- An endowment creates financial stability and independence, helping to mitigate external pressures such as national economic downturns or unforeseen political shifts.
- Investment earnings generate a perpetual, self-sustaining source of income; provide additional financial support and flexibility, and sustain existing philanthropic gifts.
- Endowment gifts are a way for donors to leave a legacy that will endure well past their lifetime.
Perhaps most significantly, endowments serve to fill needs that we aren’t even aware of yet. Libraries must keep pace with the changing needs of society and the advancements of information technology. Endowments bridge the gap that can arise from these unforeseen future needs.
The future of Lake Forest Library is on the minds of many Lake Foresters. An endowment ensures that the Library thrives and is able to serve the community for generations to come. The Foundation is honored to play a part in ensuring the next chapter of the Library.
To learn more about the Lake Forest Library Foundation and opportunities to support the endowment, visit the new website at LFLibraryFoundation.org.