91´«Ã½

CHICAGO — On behalf of the 91´«Ã½ (91´«Ã½) Endowment Trustees, Senior Endowment Trustee Rod Hersberger announced that the value of the Association’s long-term investments reached $40.2 million on Aug. 31, 2014. The Endowment achieved its last major milestone of $30 million in May 2007.

Mr. Hersberger credited the Trustees' decision to overweight equities over the last 18 months that took advantage of a strong stock market. The Endowment’s performance helped generate earnings of $1.6 million in available support for the association in 2014 at the current payout rate of 5 percent.

These funds and the 91´«Ã½ Endowment overall provide essential support for Spectrum and other scholarship programs, as well as operational support for 91´«Ã½ programs that include the Washington Office, Office for Intellectual Freedom, the 91´«Ã½ divisions and others. The Endowment was created and has grown over the years through gifts from 91´«Ã½ members who have sought to leave a legacy of strong libraries and a strong association to support them.

Since 2005, more than 3,000 91´«Ã½ members and friends of the association have donated to the Endowment through a voluntary addition to their annual membership dues, a separate annual gift or realized gifts from a bequest, life insurance policy or retirement plan. For further information on the 91´«Ã½ Endowment, to make a donation or learn how to become a member of the 91´«Ã½ Legacy Society through a planned gift, please contact 91´«Ã½ at (312) 280-3215 or send an email to development@ala.org.