Madison Community Foundation: To match Meadowridge Library endowment fund gifts

Contact: Amy Mertz

608.220.9815

MADISON, Wis. (Tuesday, July 1, 2014) – Madison Public Library Foundation’s newly established Endowment Fund for Meadowridge Library is off to a great start thanks to a matching grant from Madison Community Foundation (MCF).

MCF is matching half of every Meadowridge Endowment Fund donation up to $30,000 during the current community phase of the new Meadowridge Library’s capital campaign. For instance, a $20 donation will be matched with $10 to become $30.

Meadowridge, located on Madison’s southwest side in the Meadowood neighborhood, is undergoing a $2.3 million reconstruction, with targeted completion at the end of this summer. The library must pay $1.7 million for its share of the project, and the Library Foundation is in the midst of a campaign to privately raise $200,000 of that portion. So far, the foundation has raised $162,000.

Madison Public Library Foundation established Meadowridge’s Endowment Fund to ensure a bright future for the library well beyond the capital campaign’s completion. The fund will support collections, collaborative programming, technology upgrades, community outreach and building upkeep for many years to come.

“The new Meadowridge Library will thrive well into the future with the Endowment Fund that has been generously seeded by Madison Community Foundation,” said Madison Public Library Foundation Executive Director Jenni Collins. “Madison Public Library Foundation is fully committed to looking past capital projects so that every time we build or expand, our libraries can sustain themselves for years to come.”

Meadowridge Library currently occupies one end of a strip mall, with the former Ace Hardware Store at the other end and Meadowood Neighborhood Center in between. Once the project is complete, the library will move into the Ace Hardware space, which will result in an additional 2,000 square feet that includes a 110-seat meeting room, plus designated areas for teens, children and computers The center will move into the former library space, and the two organizations will share a 3,000-square-foot zone in between that includes a community kitchen.

“By creating the Meadowridge Library Endowment Fund, Madison Public Library Foundation is efficiently using resources to reinforce collaboration between key neighborhood assets: the Meadowridge Library and Meadowood Neighborhood Center,” said Madison Community Foundation President Bob Sorge. “These entities speak to MCF’s vision to create a community where people help each other thrive. The endowment will help ensure a legacy of vitality for these institutions.”

MCF’s matching grant is the second for Meadowridge. The Friends of Meadowridge Library group provided a challenge grant to the library’s capital campaign earlier this year, matching gifts dollar for dollar up to $10,000.

Donations to the Meadowridge Capital Campaign and Endowment Fund may be made at mplfoundation.org; dropped off at Meadowridge Library; or mailed to Madison Public Library Foundation, 201 W. Mifflin St., Madison, WI 53703.
About Madison Public Library Foundation: The Madison Public Library Foundation promotes and supports Madison’s library facilities, services and programs. Established in 1993, the foundation provides annual project grants, raises funds for capital projects, and promotes awareness of the libraries and their programs. Learn how to support Madison’s libraries at mplfoundation.org, on the foundation’s Facebook page, and on Twitter (@mplfoundation).

About Madison Community Foundation: Madison Community Foundation inspires giving throughout our community by connecting donors with worthy causes. The foundation awards more than $10 million a year from the earnings of donor gifts as grants and scholarships to nonprofit organizations throughout Dane County and beyond. For more information, visit madisoncommunityfoundation.org.