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ATLA Endowment 
Committee Report to  
the Members
By Sharon Taylor, Committee Chair  
Delivered at the ATLA Annual Conference, June 14, 2018

For those of you who are new to ATLA, I would like to tell you a little 
bit about the Endowment Committee and its work. The Endowment 
Committee exists to inform the membership of the purpose of the 
Endowment Fund, the cultivation of donor relationships, and the 
solicitation of major gifts through planned (estate) gifts and other 
funding sources. The Committee members are appointed by the Exec-
utive Director, Brenda Bailey-Hainer, who serves as staff liaison. Marie 
Jacobsen, ATLA’s Director of Financial Services, is also a staff liaison.

The other members this year include:  

 •  Dennis Swanson (7/2012–6/2019),  Dean of Library Services, 
University of North Carolina at Pembroke

 •  Sharon Taylor, Committee Chair (7/2015–6/2022), Pittsburgh, 
Pennsylvania

 •  Eric Benoy (12/2015–6/2022), Music and Theological Librarian, 
New Orleans Baptist Seminary

 •  M. Patrick Graham (7/2017–6/2024), Librarian and Margaret A. 
Pitts Professor Emeritus of Theological Bibliography, Candler 
School of Theology, Emory University

 •  Craig Kubic (9/2017–6/2024), Dean of Libraries, Southwestern 
Baptist Theological School

 •  Marie Jacobsen, ATLA’s Director of Financial Services, is a staff 
liaison

The Endowment Fund itself was established twenty-six years 
ago. At its inception, the ATLA organization was growing, adding 
staff and taking on new initiatives. Our primary product, the Reli-
gion Index, was a highly respected research tool. It was time to take 
a more professional look at our business practices. We came to 



Business Reports  17

the realization that if, for some reason, our products faced serious 
competition from other vendors, we could suffer serious financial 
setbacks without a significant financial cushion. Like many non-
profits in that era, establishing an endowment fund was a way to 
tide us over, pay basic expenses, and protect our assets until ATLA 
found its feet again in the event of a crisis. However, in addition to 
providing some protection, the organization also needed a way to 
generate seed money to create new initiatives. In those early years, 
a portion of the endowment was used to support member benefits 
and conference expenses. Thus, the net growth was rather slow. 

In 2010, the ATLA Board of Directors elected to focus on growing 
the endowment and ended the practice of taking monies from the 
endowment for scholarships and other projects. In addition, as an 
incentive to further grow the endowment, the ATLA office pledged 
to match contributed funds. In some years, when new databases and 
digital initiatives were expanding, the products were bringing in addi-
tional income. The ATLA office went far beyond matching gifts and 
contributed significant sums of money to the endowment. In addition 
to general contributions, ATLA also received some bequests from the 
estates of members, and, more recently, even some of our business 
partners have contributed to the fund. 

I am happy to say that this has been a very good year for the Endow-
ment Fund. The Fund is made up of three streams of income: contri-
butions from members and affiliates; contributions from ATLA; 
and interest and unrealized gains. As of May 31, contributions from 
members and friends were $4,215; ATLA matching contribution was 
$4,215. Both the member contributions and ATLA matching contribu-
tion were down considerably from last year. (I am sure this had nothing 
to do with my stimulating report at last year’s conference.) But thanks 
to a healthy stock market, interest/unrealized gains netted $51,770. 
The current balance for the Fund as of May 31 is $636,606. Last year’s 
balance for the same period was $560,426. The Endowment Fund 
increased by $76,180 or 11.3%, a very healthy growth rate.  

Our short-term goal is to raise one million dollars. At that juncture, 
we will reconsider how we will use those funds, whether we continue 
to invest contributions or use some as seed money for other proj-
ects and initiatives. However, we cannot accomplish our goal with-
out your help. Cash donations are always welcome, anytime for any 



18  ATL A 2018 PROCEEDINGS

amount.  Should you be so fortunate as to have a great portfolio, we 
also accept donation of stocks, bonds, and other securities. For those 
of you nearing retirement, this is a good time to consider setting up 
an estate gift. And a Charitable Gift Annuity might be just what you 
are looking for. In a CGA, some income comes to ATLA at the outset, 
while you or someone you designate receives guaranteed annual 
income for life. And while the income begins at retirement, you don’t 
have to wait until retirement to establish the annuity. Or you might 
consider a charitable remainder trust (CRT), an irrevocable trust that 
generates a potential income stream for you or other beneficiaries, 
with the remainder of the donated assets going to your favorite char-
ity or charities.  

There is one sure-fire way to help the Endowment Fund grow, and 
I challenge you to consider this plan. That is, for each member to give 
something every year. No gift is too small. We want to ensure that the 
organization is around for a long time and that future generations of 
theological and religious studies libraries and librarians get a chance 
to experience what we have experienced through ATLA.

Please stop by the Endowment Table if you haven’t already. Take a 
look at the notebook of news about our retired members compiled by 
Pat Graham and the ATLA office staff. Unfortunately, Dennis, Eric, and 
Craig could not make it to the conference this year. But Pat Graham and 
I will be at the table as much as we can to answer any of your questions
 


