The endowment of Cohasset's Paul Pratt Memorial Library has a long and prominent history as a vehicle of support for the library. While its first donation was received in 1906, the Trust was incorporated in 2006 as a 501c3 organization and has received over 50 individual donations since then. The trust stands over 1.7 million and has contributed over $800,000 to the library's material budget, ensuring that the library remains a rich source of information and knowledge for the community.
The Trust seeks to preserve capital, grow income within prudent investment parameters, and grow the endowment through community development efforts.
The Directors of the Trust are charged with preserving and increasing the number of expendable funds available to the library by increasing the size of the endowment. This is achieved by soliciting new donations to the Trust and prudently managing the existing endowment.
A committee of professionals in the asset management field advises the Trust's Directors. The Investment Advisory Committee meets at least quarterly to review the endowment portfolio and make strategic investment recommendations.
This effort complements the efforts of the Friends of the Cohasset Library. Their fundraising provides the library with essential benefits such as museum passes, children's programming, and the Summer Reading Program.
Recent gifts from the Trust to the Library have exceeded $75,000 annually and have totaled over $800,000 over the past 15 years. Your contribution to the CLT enables the endowment to continue its tremendous support of the Cohasset Library.
The Board of the Directors are appointed by the Library's elected Trustees
The Cohasset Library Trust welcomes donations of any size. Please use the button below to contribute via PayPal or mail a check to the Library:
The Cohasset Library Trust
35 Ripley Road
Cohasset, MA 02025
The Trust is a 501 (c)3 corporation, eligible for matching funds from many corporations. All donations are tax deductible to the extent allowed by law.
Donors of $5,000 or more will be honored by including their names, or someone selected by them on a wall display entitled Endowment Gifts to the Cohasset Library Trust. This permanent listing had a prime location in the main entrance hall of the library.