Cohasset Library Trust
Two trends are working against us. First, costs have increased due to greater library usage and a rapidly changing, technologically oriented, more expensive library world. Second, as other pressures on the town have increased, the library’s share of Cohasset’s annual budget has steadily decreased. We have more library cardholders, more visits, more programs and more computer use than ever before. Where will the money come from to meet those demands?
The trustees believe that increasing the library’s endowment will help to ease the financial future of our library. Currently, the library has an endowment of roughly $1.2 million, the result of 25 unsolicited gifts over more than 100 years. In recent years, the library has used about 4% of the endowment ($58,145.05 in 2016) to support its annual operating budget. This takeout rate sensibly protects against the effects of inflation in order to preserve the real value of the endowment.