An endowment is a fund that works like a permanent savings account from which the principle is never consumed and only the interest can be spent. Peninsula Friends of the Library has established an endowment and our plan is to increase the endowment each year. The current endowment is $980,000 and our goal is to reach $5 million over time. This may seem ambitious, but we believe it is possible thanks to the support of your generous neighbors and other forward-looking donors. A large endowment contributes to the library’s continuing financial health and secures its place in our community for many years ahead. If you would like to learn more about how you can contribute to the future of the library through an endowment gift, please contact Loretta Patterson, Director of Development at 310-921-7505 or firstname.lastname@example.org.