Hadley Library Trustees Launch Endowment Drive Targeting $2 Million Goal

Library · Meeting of July 14, 2026

Hadley Library Trustees back $2 million endowment drive and reelect chair at July meeting. The board heard a consolidated financial presentation showing the library draws roughly $12,000 annually from state aid reserves beyond its town appropriation just to cover basic payroll and operations, with a total of approximately $808,568 in usable unrestricted funds already on hand across multiple accounts. A trustee who led the presentation argued those existing funds could seed a formal endowment modeled on Northampton's approach, with a $2 million target that, drawn at 4 percent annually against a 9 percent assumed return, would generate approximately $40,000 per year.

Trustees gave informal consensus for the presenter to approach new Town Administrator Nate Malloy about consolidating the funds, with town counsel expected to weigh in. Jack was elected chair unanimously, and Joanne Kisinski was elected secretary. Director Patrick separately reported that roof leaks in the six-year-old building are worsening in the staff wing, that a tour with Malloy had already taken place, and that Building Inspector David Wiskiewicz has been contacted for repair strategy advice.

In the full story:

• Joanne laid out the library's unrestricted and mostly unrestricted funds
• Who Was There
• Organizations And Documents Referenced
• The complete report, 2,665 words

Source: the Library meeting of July 14, 2026, reported from the official video recording and transcript.