The Library Foundation, under the steady leadership of its Board of Directors (Bob Brown, Darlene Kaftan, Cleveland Spears and Barbara Waiters) has taken aggressive steps to reduce operational costs, restore fiduciary integrity and accountability, recapture funds inappropriately removed from Library Foundation accounts and rebuild the corpus of the Library Foundation’s financial holdings. The result of this two yearlong effort is the increasing health of the Foundation’s investment portfolio and a return to its core mission-providing external financial support to the New Orleans Public Library System.
The Library Foundation remains focused on updating its bylaws, restoring the confidence of past donors, expanding its donor base and Board of Directors and serving as an indispensable asset to the Public Library System and the people of New Orleans.
“This has been a long, tough road for us, and we’re so happy to get back to the worthwhile things that the Library Foundation should-and now can, be doing for the citizens of New Orleans,” said Bob Brown, Library Foundation president. “We are pleased that the New Orleans Jazz Orchestra has been consistent with the terms of our Memorandum of Agreement in making the first two installment payments as scheduled. This has been very helpful in getting us back on sound financial footing.”