Library foundation earns charitable status

"Library Director [Peabody Institute Library] Martha Holden said the creation of a foundation gives the library more flexibility to raise money, especially through planned giving or memorial donations. It's also a way for the library to supplement city funds and money from the Friends of the Library, which helps with about $10,000 worth of programming a year, she said. Holden said public libraries are increasingly forming charitable organizations at the urging of the Massachusetts Board of Library Commissioners, in part, because grants from its Public Libraries Fund are calling for matching funds." -- Salem News. Full Story: http://www.salemnews.com/punews/local_story_115213920.html