Annual Report
L I B R A R Y FY22 | HOWE LIBRARY CORPORATION
BOARD
CHAIR’S REPORT
Vital Community Resource
Jennifer Rickards Chair, Board of Trustees
DIRECTOR’S REPORT
Partner, Innovate, Thrive
Rubi Simon Director, Howe Library
Learning. Literacy. Community. These three terms represent critically important values and goals of the Howe Library and the Howe Library Corporation. Over the past year, the library’s patrons, staff, town leadership, Corporation members, and supporters have come together to sustain and strengthen the Howe as a vital community resource. Library programs have inspired families and engaged seniors in poetry, science, and public issues. New books and digital resources have opened hearts and minds. The Summer Reading Program introduced children to Oceans of Possibilities — our 2022 theme — playing a key role in year-round learning for the young people in our community. Despite the challenges of operating during the continuing pandemic, the important work of the library moved forward thanks to our talented staff and library leadership.
The Howe Library is woven deeply into the fabric of our community — and that strength is due to the many individuals who participate in and connect with the library. On behalf of the Board of the Howe Library Corporation, thank you for your role in making the Howe Library a true community organization. With this report, I invite you to read carefully and share our pride in a successful year.
The library had an exciting year of partnerships, collaborations, and new innovations. Our programs took us outdoors, indoors, and online. Howe staff worked tirelessly to find new and creative ways to meet community needs as we continue to maneuver through uncertainty. This year, thanks to an ARPA grant awarded through the New Hampshire State Library, our staff installed our very own Zoom room in one of the library’s meeting rooms. This new technology platform allows large groups to participate in both virtual and in-person programming. Thanks to this grant, the Howe was also able to collaborate with community organizations such as Northern Stage and CATV to create new and imaginative hybrid programming in which we held panel discussions with actors and technical artists. We were also able to offer more author talks beyond the library walls.
Another exciting collaboration was our partnership with Red Kite Candy and Hanover Parks & Recreation for our summer series, Picnics in the Park. We offered outdoor programming for all ages ranging from magicians, puppet shows, and the ever-impressive Taiko Drummers. Red Kite even made our very own Howe Library ice cream flavor for the summer. We offered music in the library — bringing in world renowned classical musicians — that made the library feel alive, bringing back our pre-pandemic energy.
As for our collections, we continue to offer a broad array of online resources that so many of us depended on through the pandemic. Hoopla, Kanopy, and Libby continue to be popular and important resources for the community in addition to our rich and extensive print collection. We are very grateful to see everyone come through our doors again. We look forward to all the new and exciting initiatives coming this year that could not be done without your generous support.
Thank You
FOR YOUR ONGOING & GENEROUS SUPPORT
The Howe Library Corporation is extremely grateful for the financial support received from many individuals, local businesses, and foundations. Donations to the Corporation fund 100% of our print and electronic collections and programming.
RARE BOOKS
Mr. Stephen Canon and Dr. Jennifer Hong
Robert Christy*
Mrs. Norm Doenges
New Hampshire State Library
Nancy and Steve Marion
Mr. John Skewes
Debbie Williamson
FIRST EDITIONS
The Head Light Fund of the New Hampshire Charitable Foundation
Judson and Carol Burnham
The Emily Landecker Foundation
Susan N. Cohen
John and Nancy Collier
Joanne M. Conroy
Bryant and Marilyn Denk
Linda B. Haller
Mr. John J. Hutchins
Marge and Ward Ives
Joanna Jackson
Larry Young and Toni LaMonica
Sally and Ralph Manuel
Peter J. McLaughlin and Jane Kitchel McLaughlin Family Foundation
The Help Is Passed On Fund of the New Hampshire Charitable Foundation
Anne Pearson
The Fannie M. Lienhard Foundation
Virgil Miedema and Barbara Spaid
Sonya and Matt Stover
Bonnie Swift
Charles Umpleby
Ledyard National Bank
Jim and Cindy Varnum
Denis Devlin and Clyde Watson
Susan Weeks
John and Coralea Wennberg
CLASSICS
New Hampshire Humanities Council Inc.
The Ames Family
Philip and Charlotte Bernini
Kate and Brian Bulthuis
Ann and Ed Craxton
Marilyn Crichlow
Dr. and Mrs. Harte Crow
Drs. Lawrence and Linda Dacey
Bernard Drury
Peter and Melanie Golder
Vijay and Kirthi Govindarajan
Eileen Wang and Charles Gray
Barbara and Thomas Hall
P. Jack Hoopes and Vicki J. Scheidt
Ellen Ives and Colleen Johnson
Mr. and Mrs. Daniel M. Ives
Glenn and Patricia Johnson
Dartmouth College
Ellen and Jim Lynch
Mrs. Robert Macdonald
Katie and John Manchester
Barbara and Douglas McIlroy
Carolyn and Peter Mertz
Amy B. Mucha†
Marilyn M. Paganucci
Michael Wagner and Laura Rice
Linda and Rick Roesch
Jay and Colleen Rozzi
Anne Segal
Carol and Harold Sox
Sharon and John Weaver
Doug and Leslie Williamson
BEST SELLERS
The Stan and Jenny Williams Family Fund of the New Hampshire Charitable Foundation
Patricia Appleton
Gert and Jan Assmus
Priscilla and Jack Benson
Dr. & Mrs. Michael Bettmann
Charles and Gillian Billo
Marilyn Blight†
Mrs. Ruth Blodgett
Neil Roth and Cheryl Boghosian
Ellen and Tom Brydges
Davin Chor and Mary-Ann Tan
Judith B. Csatari
David and Leslie Fall
Harold Frost
Arthur Z. Gardiner, Jr.
Gail Gentes and Philip Hanlon
Olivia Gentile and Andy Borowitz
Barbara Hall
Debra and John Jayne
Kathleen Jones and Donald Perovich
Kapadia Family
Dave Loebel
Erzo Luttmer and Ellen Meara
David and Ann Malenka
Jeannie Mallary
Josette and Raymond Malley
Liz and Matt Marshall
Martha McLafferty
Sarah Miles and Kevin McCurdy†
Al and Margaret Mulley
Elizabeth and Jim Napier
Carletta Nevers
Nina Pavcnik and Eric Edmonds
Susan and Jay Pierson
Kelly and Harold Pikus
Winthrop Piper and Mundy Wilson
Stuart Pompian
Robert B. Rettig
Jona Roberts and Jennifer Rickards
Matt and Margaret Rightmire
Les and Diane Riman
Joan Rueckert
Sara Spangelo
Sturman Family Fund
Michael and Jennifer Taxman
Paula Tsai
Marnie and Terrence Welch
James and Susan Wright
Doris Yates
BOOKWORMS
Mary Allen
Ginia Allison
Elda Aner
Patty Armstrong and Fred Perkins
Mr. & Mrs. Dwight Aspinwall
Sharry Baker
Ken Baker and Judy Reeve
Lisa Baldez and John Carey
Jeanne and Perry Ball
Nina Banwell
John and Virginia Bayliss
Ann and Mark Beams
Martha and Jim Beattie
Judith and James Bernat
Bill and Susan Boyle
Ann and David Bradley
Tribute Gifts
GIFTS IN MEMORY OF Connie Skewes
Grace Carney
Judith Esmay
Lisa Laaspere
Mary E. Ives
Richard Wesson
GIFTS IN HONOR OF Kathryn S. Manchester
Vin and Nancy Pellegrini
Barbara Duncan and Gary Brooks
Richard and Lin Brown†
Sarah and Jay Buckey
Kenneth and Marion Burchard
White River Family Eyecare
Robert and Janice Chapman
Mike Choukas
Kathy and Peter Christie
William and Elizabeth Clendenning
Pat and Monte Clinton
Lindsay and Marcus Coe
Stan and Judi Colla
Meg Colton
Marjorie Cook
Sylvia L. Cook
Kinson and Keri Craft
Susan and Jonathan Crane
Dr. Joseph Cravero and Dr. Carolyn Murray
Jane Darrach
Julie and John Dolan
Robert and Mary Donin
Katie Eaton
Heidi Eldred
Corinne Fortune
George and Patricia Fowler
Andy Tuthill and Susan Frankenstein
Julie and Mark Franklin
Frances Friedman
Bill and Kathy Geraghty
Pat Glowa and Donald Kollisch
David and Cindy Glueck
Leah Goat
Laura-Beth Goodman
Mariruth Graham†
Joyce Grandmaison
Ralph Hammock
Andrea and Mike Harris
Alice and John Harrison
The Hastings Family
Jill and Bill Hatch
Elaine K. Hawthorne
Michael Heeremans
James and Nancy Heffernan
Ms. Eleanor Henderson
Dr. and Mrs. Michael Herrick†
Fred Faudie and Kelley Hersey
Betty Heston
Helene Hickey
Grace Hope Hill
Kim and Simon Hillier
Sandra Hoeh
Avery & Mike Hoppa
Robert and Sylvia Jaccaud
Nicholas and Judith Jacobs
Ted and Kathy Jastrzembski
Ryan and Ally Johnson
Kazal Family†
Jean Keene
Ron and Carol Keenhold
Pattrawadi and Francis Kennedy
Eric and Maureen Krauland
Gail Kuhl and Wayne Gersen†
Suzanne Laaspere
David and Nancy Lagomarsino
Thomas Lanzetta
Fred and Ruth Lappin
Renee & David Lent
Dianne Levine
Frank Logan
Bruce and Martha Lorden
The Lubrano Family
Barbara Lynch
The Madonia Family†
Phoebe Manchester
The Mancini Family
Lu Martin
Marjorie and James Matthews
Martha McDaniel and Stephen Plume
Marlene McGonigle
Mark and Gail McPeek
Linda and Roger McWilliams
Deborah A Miller
Marie Miller
Jerry and Nancy H. Mitchell
Shirley and David Montgomery
Mr. and Mrs. Randy Mudge
Deborah Nelson
Walter and Joyce Noll
Lisa and David Pastel
Joan L. Piccolo
Frank and Betty Pizzuti
Sukie Punjasthitkul
Nancy and Jeff Richards
Dennis & Louise Robison
Herb and Lois Roland
Bruce and Michele Sacerdote†
Jill and John Schiffman
The Richards Group
Ann Semprebon
Liese Shewmaker
Rob Shumsky
Iain and Caroline Sim
Sarah Slater and Matthew Lotterhand†
Mrs. Barbara Smith
Roger Soderberg
Stephen and Judith Solberg
Doug and Beth Staiger
James and Pegge Strickler
Malcolm Swenson
Buddy and Kirsten Teevens
Nancy S. Tierney†
Vijay Thadani and Onita Connington
Bill and Rita Tingle
Elizabeth Tobiasson
Peter Travis and Carol Westberg
Doug and Aricca Van Citters
Elizabeth Vesley-Gross
Timothy and Susan Wagg
Rob and Tracy Walsh
Mr. David Webb
M. Jane Welsh
Huntley and Lynne Whitacre
Kathy Wilkerson
Tom and Joan Wilson
Stew and Kristin Wood
Robert Wooler
Jimmy and Marjorie Wu
Julia Wybourne
Arthur and Jeanne Young
Dr. and Mrs. William Young
Ivan Zadounaev
Emily Zeitler
COMMUNITY BOOKSHELF
Jeffrey and Beverly Balch
Ingrid Barrett
Mark and Laura Beliveau
Peter and Chrysanthi Bien
Dr. and Mrs. James Brackett
William and Jean Brown
Barbara and Alan Callaway†
Sandra Chivers
Dave and Ann Cioffi
Richard and Ellen Clattenburg
Christopher Connor
Ellen Cutts
David Dostal
Glenn King and Anne Downey
Margaret L. Drinker
Kenneth P. Esthus
Elizabeth Eckels
Woody and Emily Eckels
Linda and Rick Ely
Clifford and Felixa Eskey
Peter and Marcia Frederick
Hanover Garden Club
Mr. W. Charles Gibson
Sean and Alison Gorman
Cristina and Bill Hammond
Robert and Beverly Houghton
Konrad Kenkel and Jocelyne Kolb
Lindsey Klecan & Matt Slaughter
Katherine and Jake Kransteuber
Mary R. Lincoln
Michael Liu and Shaofeng Yan
Jim and Elizabeth Lustenader
Judy and Bob McCarthy
Mr. John McGuire
Teresa Oden
Barbara Payson
Maryann Piotrowski
Angela Plagge
Peter B. Rankin, Sr.
Joanna E. Rapf
Diane Roston
Kavon Rutherford
The Schembri Family
John and Mary Snell
Louise Nunan Taylor
Judith Tight
Robert Weatherill
Priscilla Williams
Genevieve Williamson
Martin and Yolanda Witschi
Theresa Wood
COMMUNITY SPONSORS
We can't thank our wonderful and dedicated champions of the Howe Library enough. Their financial support breathes life and energy into our library, and we are grateful for the continued and steady efforts of this community.
RARE BOOKS
The Jack and Dorothy Byrne Foundation
JMH Wealth Management, LLC
Mascoma Bank
FIRST EDITIONS
White Mountains Capital, Inc.
CLASSICS
Baker Orthodontics
Bar Harbor Bank & Trust
BEST SELLERS
Adimab LLC
BCR | Brown Commercial Realty
Decker & Pilon Dental
Global Forest Partners LP
Ledyard National Bank
LindeMac Real Estate
Snyder, Cahoon & Co., PLLC Von Bargen’s Jewelry
Please consider a monthly donation to the Howe Library. Your participation in the monthly giving program signals your commitment to the Howe and provides consistent financial support for the library throughout the year. Simply go to our donation page and choose "monthly" under the donation schedule: www.thehowe.org/donate
Treasurer’s Report
The Howe Library Corporation’s finances remained fairly stable thanks to the generosity of the community and federal grant support. Overall, our cash flow was sufficient to meet operating expenses and fund growth.
OPERATIONS
The Howe Library relies on three funding sources: the Town of Hanover, the Howe Library Corporation, and the Corporation's Endowment. Pursuant to a Memorandum of Understanding, the Town primarily funds operations and the Corporation supplements this with funds for adult and youth programs, collection support, building enhancements, and new initiatives.
For fiscal year 2022, the Town funded $1,231,515 of overall operations, while the Corporation withdrew $55,000 from our Endowment. An unanticipated source of funding came in the form of grant money from the American Rescue Plan Act (ARPA); one of the US government’s fiscal support programs intended to soften the financial impact of COVID-19. In total, the Howe Corporation received around $39,000 from ARPA and used these funds to expand our digital services.
REVENUES
Contributions to the Annual Fund, historically our largest and most essential source of revenue, totaled approximately $116,000, coming in above budget. However, Annual Fund contributions were down year over year as the prior fiscal year had benefited from two extraordinary gifts. Our Community Sponsorships represented approximately 10% of our contributions and came in lighter than expected. The addition of a new Bookkeeper and Development
Coordinator should enable us to expand our community support. Overall, total revenues reached nearly $233,000.
EXPENSES
Expenses totaled $234,000 and were well below budget, predominantly due to lower payroll costs associated with the delays in hiring our new Bookkeeper and Development Coordinator. We expect expenses to return to a more normal level now that our financial team is fully staffed. A breakout of expenses is shown in the circular graph. Expenses related to collections and programming comprised 65% of our total operating expenses.
FINANCE COMMITTEE
The Finance Committee has the fiduciary obligation to manage the Endowment in the best interest of the Howe Library Corporation. During fiscal year 2022, the Finance Committee composition changed, but the Investment Policy Statement (IPS) that was approved in 2021 remained unchanged.
ENDOWMENT
We withdrew $55,000 from the Endowment this past year or roughly 1% of the average value of the investment portfolio. The Endowment drawdowns were critical funds needed to offset an operating cash flow shortfall. The 1% drawdown was well within the 3% spending policy of the Endowment.
The financial market weakness of fiscal year 2022 largely reversed a good chunk of the prior year’s gains in our Endowment. The strength of the new
IPS was evident during the volatile financial markets in the second half of fiscal year 2022. Our focus on longterm growth and broad diversification among asset classes helped control risk and limit our losses in a declining market environment. Our disciplined IPS, especially with respect to our bond holdings, allowed us to outperform our market benchmark.
As of June 30th, the Endowment was valued at approximately $4.8 million, down approximately 11% for the year.
Endowments play a critical role in supporting operating activities for most non-profit organizations. During periods of economic stress, funding from Endowment assets becomes more vital, and we’re grateful we had the financial resources of the Endowment to call upon in 2022. However, we’re also reminded that we are stewards of the assets and must prudently manage the Endowment for the benefit of our community today and for tomorrow.
Jeffrey M. Harris Treasurer and Finance Chair