The Akron-Summit County Public Library (ASCPL) Endowment Fund at the Akron Community Foundation (ACF) was established in 2011. The ASCPL Board of Trustees recognizes the importance of endowment funds in enhancing the Library’s long-term financial stability. The ACF manages the endowment funds, holding and overseeing their investment and administration per an agreement between the ASCPL Board of Trustees and the ACF signed on October 31, 2011.
- Disbursement Guidelines
The Fund shall be used to support the mission, programs, and services of the Akron-Summit County Public Library. Only interest earned is available for disbursement. - Recommendations for Disbursement
The ASCPL Board of Trustees may recommend to the ACF that the endowment funds (only interest earned) be disbursed to the ASCPL. Recommendations shall be based on the Library's needs and priorities, as determined by the ASCPL Board of Trustees in consultation with Library leadership. - Advisory Nature of Recommendations
Per the agreement between the ASCPL and the ACF, recommendations made by the ASCPL Board of Trustees are advisory and not binding upon the ACF. ACF shall make the final determination regarding the use and distribution of endowment funds.
Adopted by the ASCPL Board of Trustees on March 27, 2025.
