The Library Endowment Trust is an independent 501(c)(3) organization whose purpose is to create extra funds above the tax base to provide excellence in Oklahoma County’s public libraries. The Board of Trustees is composed of 15 to 22 people and meets a minimum of four times a year, per the organization’s bylaws. The primary purpose of the board is two-fold – fiduciary (investing and protecting endowment funds) and fundraising (soliciting gifts to grow endowment funds).
The Metropolitan Library System's primary service area is Oklahoma County and Oklahoma City beyond the county boundaries.
Children that have limited access to books and literacy materials demonstrate lower test scores and have limited language ability. One effect of limited access to books and reading materials is limited proficiency in reading. The poverty rate for children in Oklahoma is23%. Many communities with high rates of poverty are within the Metropolitan Library System's service area. Impoverished families have a much lower rate of accessibility to books in the home. In fact, 61% of low income families have no children’s books in their homes. In middle income communities there are thirteen books available for every one child in the home. In low-income communities that number drastically drops to one book for every three-hundred (300) children.
In Oklahoma 73% of fourth graders are not proficient in reading. The inability to read is linked to higher high school dropout rates, which leads to an increased likelihood of poverty as a result of limited job opportunities. Children that do not read at 4th grade proficiency are four times more likely to drop out of high school. Beginning in 2014, Oklahoma’s “Reading Sufficiency Act” will require all students moving to 4th grade to pass a reading test. Those that do not pass this readingproficiency exam will be retained in the 3rd grade. The estimated cost to the state for those who must repeat 3rd grade is estimated to cost Oklahoma approximately $900,000 - $1.3 million per year.
The long-term goal for the Summer Reading program is to build bookownership in all neighborhoods that we serve, increase literacy rates and do our part to break the cycle of poverty in our state.
Indirect Public Support HelpIndirect public support represents revenue received through solicitation campaigns. This includes funding United Way and other federated fundraising organizations, but does not include donor designated contributions.
Earned Revenue HelpEarned revenue represents income generated in direct exchange for a product or service.Earned income includes income from government contracts.
Copyright © 2014 Oklahoma City Community Foundation
1000 N. Broadway Ave., Oklahoma City, OK 73102