Mutually Assured Survival: Library Fund-raising Strategies in a Changing Economy

This essay examines the current international economic disruption and its effect upon the scholarly and academic community, an effect that is exacerbated by what appears to be a fundamental shift in donor philosophy. Taken together, these factors are forcing academic and cultural institutions to reevaluate traditional areas of support in light of broader societal pressures. The implications for research libraries, including their special collections departments, are profound, and much of this essay is devoted to strategies for coping with an unfamiliar and competitive fund-raising environment. The approach is to stress the need for librarians, including those in special collections, to develop a long-term vision and strategy based upon a flexible working knowledge of the evolving goals and mission of the parent library and institution. Additionally, the essay emphasizes the necessity for understanding the broader philanthropic environment and the tools required to exploit philanthropic opportunity, from planned giving and investment vehicles to donor-advised giving instruments.