Libraries – What a Value!

The formula for calculating “Return on Investment (ROI),” is usually associated with the world of finance, but during the past 10 years, libraries and other non-profit entities have adopted this model for communicating the economic and social value of their institutions to the communities they serve. For example, a study released in January, 2008 by the Friends of the San Francisco Public Library shows that for every dollar spent on the library, the community gains a return of $3.34. Are you interested in obtaining more information on this popular topic? Then check out our new ROI for Public Libraries wiki. This site contains a definition of ROI, examples of libraries that have completed ROI studies, information about why this type of analysis is important for public libraries, a bibliography, and sources of library Return on Investment Calculators. Nebraska Library Commission staff will also be presenting a session on this topic at the [obsolete link removed] Public Library and Trustees Section Spring Meetings on May 6th, 8th, and 9th. This program will discuss the “hows” and “whys” of conducting an analysis of your library’s economic impact and how it can become a great tool for library advocacy and a launch pad for successful fundraising efforts.