The Jessie F. Hallett Memorial Library Board and the JFHML Friends Foundation are excited to announce the formation of the JFHML Endowment Fund, a Partner Fund of the Initiative Foundation. Over the past several years, the funding sources for the library have changed. Funding for the Library comes from four main sources:

  • The E.W. Hallett Trusts continue to support the operations of the Library, but at a reduced level from earlier years;
  • the City of Crosby continues their level of support for operations;
  • some of the surrounding townships help operations by donating funds;
  • the JFHML Friends Foundation raises money for books and materials.

For the past few years, the Library has spent down its reserves in order to continue operations at a level that this area has always seen. However, those funds are no longer available.

An endowment is the perfect answer to an ongoing financial struggle. A person’s contribution to the endowment fund remains in that fund for the lifetime of the endowment. Only the interest earned from the fund is spent. Each year, the Initiative Foundation will determine the amount of interest earned minus their fees and that money will return to the library. The Librarian will make recommendations on the needs of the

How does the endowment work?

We’re partnering with the Initiative Foundation for the JFHML Endowment Fund!

The Initiative Foundation serves the 14 counties of Central Minnesota, providing nonprofit grants, business loans, leadership training and an array of donor services. We believe that local people have the greatest sum of initiative, knowledge, and relationships to achieve a brighter future.

The Initiative Foundation oversees and manages financial contributions for the fund. The Foundation also provides staff support to the advisory board and ensures compliance with legal and professional standards. As a 501(c)(3) nonprofit organization, contributions to the fund are tax-deductible to the extent allowed by law.

Money given to the JFHML Endowment Fund will support the library indefinitely! The corpus of the fund will remain untouched while the interest earned will help support the Library operations.

Ways to give

You can make an immediate donation in several ways:

  • Check or Cash
    • Checks should be made to The Initiative Foundation with “JFHML Endowment” in the memo line.
    • They can be sent directly to the Initiative Foundation or to the Library
      • Initiative Foundation: 405 First St SE, Little Falls, MN 56345
      • Hallett Library: 101 1st St SE, Crosby, MN 56441
    • Online Donation
      • Visit our Give Smart page for a one time or reoccurring donation
        • Our Give Smart campaign is specifically to raise the $20,000 seed money required to start the endowment. Our 100 x 100 campaign focuses on community and “the power of 100”: if 100 people give $100, we’ll be halfway to our goal!
      • You can also give via GiveMN!
        • This will be the go-to place after our 100 x 100 campaign has finished.
        • Visit the site to see the progress of the endowment fund!

There are multiple ways to plan for future gifts to the library. We recommend talking with our Librarian Abby to discuss what will work best for your wishes!

We will be holding informational sessions about planned giving in 2023, but here are a few of the options to consider:

  • IRA Charitable Rollover
  • Bequests
  • Beneficiary Designation Gifts
  • Required Minimum Distributions

The Initiative Foundation is available to answer questions as well! Contact Community Philanthropy Manager Kate Bjorge with questions.