SUMMARY OF PURPOSE OF SLA SUBSIDIARY FUNDS

NOTE: The Research Fund is not contained in this document. There is a separate document on the Research Fund.

It is the policy of the Special Libraries Association to provide a summary of purpose for all SLA subsidiary funds.

The purpose of this policy is to provide an explanation of the purpose and primary source for all SLA subsidiary funds.

RESERVE FUND

To augment regular operating funds so that essential Association activities and financial commitments can be sustained during unanticipated periods of low income or increased expense due to economic, legal or regulatory problems.

The goal of the Reserve Fund as set by Board Action in October 1976 is that the Fund is at least large enough to cover the expenses of the association for one year.

Primary Source: $5,000 per year from General Fund, as required by Board Action (October 1976), income from investments and additional funds added by the Board of Directors.

SCHOLARSHIP FUND

To support annual scholarship awards to candidates who qualify for accredited library schools. Total awards of six scholarships per year at $5,000 each, beginning in Fiscal Year 2000. Scholarships to be paid from up to 90% of earnings or principal

Primary Source: Donations and income from investments

SPECIAL PROGRAMS FUND

The purpose of the fund is to provide programs and services which will further the scientific, literary and education purposes for which SLA is organized and operated.

Programs and services which promote these objectives may be funded and may include (but are not limited to) publications, research projects, study grants, continuing education programs, public awareness activities, special studies and reports and information dissemination activities. Grants are made from 90% of the earnings each year on the principle.

Primary Source: Donations and income from investments

COMPUTER FUND

Funds for the purpose of purchasing new computer systems.

Primary Source: $120,000 per year from the General Fund as required by Board Action and income from investments.

BUILDING RESERVE FUND

Funds serve as a source of revenue for the unexpected and not for day-to-day operational expenses. Annual contribution from General Fund to insure its growth for future needs. Up to $30,000 may be spent by the Executive Director in the event of an emergency, without Board approval.

Primary Source: $60,000 per year from the general Fund, as required by Board Action and income from investments.

COPLEN FUND

Earnings from funds contributed are to be used for the Ron Coplen Leadership Address at the Winter Education Conference or other appropriate meeting.

Primary Source: Donations and income from investments

The Executive Director and the Board of Directors have responsibility for monitoring the administration of this policy.

Approved: October 1988
Format revised: October 1997