[News Boquete] Future of the Boquete Library

To the Boquete Community:

 

       Our library, Biblioteca de Boquete, is unique in the country of Panama in that it lends out books! In addition, it is a center for literary discussion, graphic arts, and music, serving the latino, indigenous, and ex-pat communities with equal courtesy.

 

       Operating funds for such an institution would be provided by taxes in the northern hemisphere, but the Biblioteca receives not one centavo from the municipal, provincial or national governments. So far its operation has been sustained largely by the Peterson Foundation with smaller donations from other foundations, businesses, and private citizens, plus some funds raised from book sales.  To subsist purely on annual donations, which could disappear without warning, makes for a precarious existence. Moreover, it requires the Director to spend much of her time scrounging for funds rather than developing new programs, such as outreach to poor schools that have no books.  

 

       Accordingly, the Board established in 2014 an Endowment Fund (Fondo Dotal). The goal was to create a fund large enough that the annual interest could support the annual budget. Now, five years later, the Fund contains nearly $257,000. If we could double that with more donations, then compounding interest over ten years could produce $1,000,000.  Such an endowment would suffice to establish the Biblioteca as a sustainable institution.  So we need to add $250,000 to the fund. This could happen if 250 contributors each give $1000 or if 1000 contributors each give $250 – or, of course, if many more contributors give what they can.

 

       For several years I have operated a nursery for trees and plants with all proceeds donated to the Endowment Fund. Visitors to the vivero often say upon leaving: "Thank you for what you are doing for the Library".  I viewed the nursery partly as a way to raise consciousness regarding the Endowment Fund. And now comes the test: what can you all do for the Library? Can you help the Fund reach its goal by adding $250,000? The library is placing a "thermometer" near the entrance to show where we are now and will update as funds are added.

 

       Many expats are familiar with the National Public Radio which calls for donations 3-4 times per year – every year. But here is an opportunity to contribute toward a goal that, once reached, need not be repeated. A box has been set up at the front desk to receive contributions. Checks should be made to Fundación de la Biblioteca de Boquete. If you wish to assign your contribution to grow the fund, please write "Fondo Dotal" or "Endowment Fund" on the envelope or base of the check.

 

Thank you for your attention and patronage!

 

Sincerely,

Peter Sterling

  

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