RBMS Budget and Development Midwinter 2014 draft minutes
RBMS Budget and Development Committee meeting, ALA Midwinter meeting, Philadelphia, January 25, 2014
Present: Mary Lacy (Library of Congress), chair; Shannon Supple (Clark Library, UCLA), Melissa Nykanen (Pepperdine University), Erika Dowell (Indiana University), Cherry Williams (Lilly Library, Indiana University), Sarah Schmidt (Yale University), Jeffrey Marshall (University of Vermont), Fernando Peña (Palmer School, Long Island University), Section chair, ex-officio; Arvid Nelsen (University of Minnesota), Section vice chair, ex-officio.
Visitors: John Pull (Library of Congress), Nina Schneider (Clark Library, UCLA), Athena Jackson (University of Michigan), Eric Holzenberg (Grolier Club), Henry Raine (New York Historical Society), E.C. Schroeder (Yale University).
Not present: Ethan Henderson (University of California, Santa Cruz), Blynne Olivieri (University of West Georgia).
The meeting started at 1:00 in the Marriott Hotel. Marshall volunteered to take minutes. After introductions, the minutes of the June, 2013, meeting in Chicago were approved.
1. Leab Award Fund report. Balance of the fund is $37,547. The fund earned $816 in the last quarter of 2013. It was noted that spending may go up because of the need to ship materials to committee members living outside the U.S.
2. Leab Award long-term funding. Lacy noted that no formal fundraising plans are yet in place. The goal is to meet ACRL's mandate of a $50,000 fund balance by 2022, without conflicting with Scholarships Committee fundraising. Peña reported that both the Delmas and Pinetree Foundations have indicated they would not be likely to contribute to the Awards fund, although Delmas is very interested in funding preconference scholarships.
Lacy proposed the formation of a Leab capital campaign subcommittee. Schroeder suggested that we might set a goal of raising $5,000 from members. The remainder would come from annual profit-sharing funds or surplus section funds. The issue of altering the name of the fund (should another major donor be found) was raised, but the consensus of the committee was not to do this. However, Lacy noted that the indenture for the fund needs to be updated so that funds can be used for purposes other than exhibition awards, as long as the primary purpose doesn't change; this will need to go through ACRL and be approved by Kathy Leab.
The committee agreed to form a Leab Award Fund capital campaign subcommittee, and approved the following charge:
In light of the ACRL mandate that all section endowment funds must have a principal balance of $50,000 by 2022, the subcommittee is charged with developing strategies for raising at least $8,000, to be matched by ACRL, over the next 3 to 5 years. The subcommittee will coordinate its efforts with the scholarships fundraising subommittee. Members: Cherry Williams and Athena Jackson, with Lacy. Lacy invited any others who are interested in either subcommittee to contact her. Williams may add an additional member from the Exhibition Awards committee.
3. Preconference budget reports.
a. 2014 preconference, Las Vegas. Tory Ondrla of ACRL asked us to raise at least $20,000. Nelsen reported that $14,500 was pledged as of January 9. ACRL is negotiating with ABAA on a profit-sharing arrangement which would likely yield more than the flat rate of $3,000 now in place, but probably not in time for this year's preconference. Many ideas about possible donors were discussed, including numerous smaller vendors who have yet to be asked. Schroeder reminded the group that ALA/ACRL need to be informed if we solicit major vendors, though Holzenberg noted that keeping Ondrla in the loop seems to be sufficient means of doing this. Jackson distributed a prototype postcard announcement for the conference.
b. 2015 preconference, Oakland. Nelsen said that the draft budget will be voted on this weekend. Registration will be $290 for members, a $10 increase. The last increase was in 2012, and before that in 2010. The fundraising goal is $31,000 on top of revenue from the booksellers' showcase--higher than usual because the Bay area is expensive. But it is also good grounds for fundraising. The preconference committees have no members with previous fundraising experience, Nelsen noted, but he expressed confidence that the higher fundraising goal would be met.
4. Preconference scholarships. The expectation is that enough money will be available to fund 15-20 scholarships.
A draft report from Olivieri on ideas for scholarship fundraising was distributed.
Lacy noted that the era of ACRL matching funds for scholarships is ending. Profit share from preconference revenues is often used for scholarships, but this source is not consistent. RBMS has never required that preconference revenues fund scholarships. This year we have an unusual amount of profit share from the very successful 2013 preconference. These funds can be used for scholarships in 2014 but cannot be rolled over to next year. Any donations, however, may roll over from year to year. Any year there are excess funds they can go into the Leab Endowment. But there are many demands on our funds coming up. Peña reported that the ALA membership fee structure is changing, so ACRL funds that were previously distributed to sections on the basis of section membership will be frozen for the next 2-3 years at current levels.
Peña offered more details on the proposal to the Delmas Foundation for scholarship support. Based on conversations with a Delmas official, he said that the Foundation is likely to grant $4,000, though we were encouraged to ask for $5,000. We can continue to request this support each year for 2, 3, or 4 years, as long as we ask creatively. The next step will be for the ACRL Board to discuss the proposal, and then it will be submitted to Delmas in February. We should have a good sense of whether it will be funded by March or April.
If the $4,000 is available, profit-sharing funds could go to the Leab endowment. It was agreed that scholarship fundraising needs to continue vigorously nonetheless.
Lacy proposed the following budget for 2014 preconference scholarships:
$1,000 Budgeted by ACRL
$4,000 Fundraising by RBMS membership*
$5,000 Potential grant from Delmas Foundation**
$5,000 Portion of profit-share from 2013 preconference
*$5,265 raised already via checkbox from last year and Friends donation fund this year--remainder available for 2015 scholarships
**use additional funds from fundraising/profit share if full amount not received
The committee voted to approve the budget and send to Executive Committee for action.
5. Allocation of Section funds for fiscal year 2014. Lacy presented a proposal for the distribution of profit share funds from the 2013 preconference, and a proposal for the use of other Section funds for 2014, as follows:
Profit share from 2013: $11,500 (can't be carried over to next year)
$5,000 for 2014 scholarships
$1,000 toward website redesign
$4,000 for Leab endowment
$1,500? for Standard Citations indexing and/or other section needs; unspent funds roll to Leab endowment
Section budget ($1972.75 for FY 2014):
$450 Allocated at Exec Annual 2013 for remainder of cost of indexing DCRM(G)
$1,000 Portion of redesign of RBMS website (not yet a formal proposal; est. $2000)
$522 Available for other requests; remaining funds could go to Leab endowment
It was reported that the money for indexing Standard Citations may not be needed because the indexing is already well underway by a committee member.
Supple said that the quote for website redesign is informal and asked whether we should have a real quote. The Committee agreed that a real quote is desirable, but that the use is appropriate and we should approve the proposed funding amounts ($1,000 from profit share and $1,000 from other Section funds).
It was also noted that nothing has been spent of the $450 previously appropriated for DCRM(G) indexing.
The Committee voted to approve the proposed budgets for profit share and other Section funds.
Nelsen asked where scholarship funds would come from if the Delmas grant falls through. It was agreed that the $4,000 of profit share funds designated for the Leab endowment would be used for scholarships instead.
6. ACRL Budget and Finance update. Schroeder reported as a member of the ACRL Budget and Finance Committee that the ACRL budget is in reasonable shape.
Adjournment at 2:30.
Jeffrey D. Marshall