Money for the Asking

Book excerpt: Money for the Asking explores the basics of fundraising for music library professionals. Music libraries face many challenges today, including shrinking budgets. Fundraising is one way to increase a library’s resources, but few books address fundraising opportunities specifically for music libraries. In this concise volume Peter Munstedt provides practical advice for music librarians who want to initiate fundraising. Based on his depth of experience, the author explains the importance of promoting a library’s needs, which can be critical in establishing fundraising efforts. Working with individual donors is essential for any fundraising program. The book differentiates four essential steps that development professionals employ when working with donors, including identification, cultivation, solicitation, and stewardship. There is also an explanation of the various types of donations, such as gifts in kind, monetary gifts, endowments, and planned giving. Obtaining resources through grants is another significant aspect of fundraising. The book covers corporation, foundation, and government grants within the context of music libraries. Other methods of raising money are also described, including several kinds of fundraising events, such as benefit concerts, book sales, as well as other public and private events. While encouraging music libraries to pursue fundraising, the author also cautions about several subtle issues that consist of hidden costs, internal politics, and ethical concerns. This book reveals principles in the professional development world as seen through the eyes of a music librarian. The author explains real-life experiences in a music library setting, including case studies from his library. Also provided are examples of fundraising web pages from various other music libraries. The book reveals the positive effects and actual benefits that fundraising can bring to a music library. Money really is there for the asking.