Fundraising

The Sylvan Lake Library is likely to get a new building in the next few years, we have town confirmation, we just need a few other factors to get in line.

I'm wondering how everyone who has gotten a new space in the last few years, has managed fundraising. When did you start?

I'm thinking about doing some crowd fundraising or applying to private foundations for funding, but I'm concerned about it being too early. Most grants want you to spend the money right away and I'm not sure if other fundraising initiatives are the same.

It seems like a hurry-up and wait situation. Any advice is welcome

Hi!

I'm not sure if this helps, but what about sponsorship? It's a bit more flexible timeline-wise than grants. Maybe a corporation pays X dollars and they get to have their name as part of the library? I feel like I saw one recently do this in Alberta, but do you think I can remember the library or the name? Hoping it'll come to me! Or maybe someone can chime in.

Good luck!

Hi Haley! I spent some time speaking with Fund Development consultants a while back about this very thing. The advice I got from them was: definitely not too early to fund develop, but 1) make sure your town is aware you're doing this and they have some type of plan for a new library, otherwise community members will start asking them questions about the new library and you never want them to feel in the dark. 2) Build a case for the new library or expansion. This can be a document that identifies the need, the planned timelines, and the key messages to potential funders - you want everyone to get the same information, and you'll have more luck getting funds with a solid package outlining the project. 3) have policies governing fund development and sponsorship.

Hope that helps!