FY 2012 Highlights - New York Public Library

eport of the treasurer
The New York Public Library has continued to drive
several major strategic initiatives essential to its
mission in an increasingly digital world—despite
continuing erosion in operating support from the City
of New York. Most notably these initiatives include:
• Central Library Plan. The Library has unveiled
a design for this $300 million transformation of
the Stephen A. Schwarzman Building, which will
provide more and better space and service for
Library users, a superior preservation environment
for its invaluable collections, and yield financial
benefits equivalent to $15 million per year. Thanks
to a $150 million capital commitment from the
City and the sale of various real estate assets, the
Library now has the financial resources in hand to
undertake this project.
• Branch Library Programming. The Library has
launched pilot programs to evaluate a quantum
increase in programs provided through the branch
libraries in order to increase the Library’s impact
in New York City. Computer training, literacy and
English classes for immigrants, and after-school
programs for children are all being explored.
One particularly exciting program is the Library’s
recently announced partnership with New York
City schools, which makes the Library’s collections
directly accessible to teachers and students
throughout New York City public schools. Initial
results indicate that students with such access are
three times more likely to be reading a book.
• The Virtual Library. The Library is investing
steadily to improve its online presence—adding
content, tools to make it easier to find and use
content, and features to enable users to connect
with one another to build a robust online literary
community. The virtual library and the virtual
library community are the natural extension of
what exists in the white marble physical being, and
central to NYPL’s future.
Despite the decline in City operating support—down
14% or $20 million between fiscal years 2008 and 2012,
excluding reimbursements for pension and inflationary
expense increases—the Library’s core services have
shown excellent growth over the same period:
• annual visits have grown 12%, to 18.2 million,
• annual circulation has grown 44%, to 28.3 million, and
• web visits have grown 15%, to 32.3 million.
And on top of this performance, NYPL is launching the
Central Library Plan, enhancing branch programming,
and the virtual library initiatives.
Having lost $20 million in City support, how is this
possible?
The simple answer is the increasing generosity of New
Yorkers in times of need. Private cash donations of
all sorts (including restricted and unrestricted gifts,
bequests, and endowment gifts) grew from $54 million
in the year ended June 2007 to $98 million in the year
ended June 2012. This generosity is truly inspiring as it
is the embodiment of many individuals stepping up in
tough times to support a beloved bedrock New York
institution that serves so many—the very symbol of
democracy and freedom of information.
David G. Offensend
Treasurer
February 2013
78%
City of
New York
FIGURE 1 3%
FIGURE 2
6% State and Federal Government
5% 78%
Contributed rent and utilities
City of
New York
79%
City of
New York
79%
City of
New York
FIGURE 5
11%
RESEARCH LIBRARY REVENUES ($ 102,074,000)
CHANGE Library
10%
IN ENDOWMENT Additions (in millions) to collections
Market services values as of June 30* City of
CHANGE IN ENDOWMENT Investment (in millions)
New York
Market values as of June 30* 7% income
Fundraising $814 and development $824
$741
$814 $824
$741
$670
$592
$670 24%
$592 Contributions
‘08
‘09 ‘10 ‘11 ‘12
*Excludes real estate investment used in operations.
Contributions
5%
Contributed 3% Other rent support and utilities and revenue
RESEARCH LIBRARY EXPENSES ($ 103,337,000)
1% Investment income
5%
Contributions
11% 3% Other support and revenue
Management 1% Investment and general income
10% 5%
Additions Contributions
to collections
7%
Fundraising 5% and development
Contributions
3% 1%
Other Investment support and income revenue
BRANCH LIBRARY REVENUES ($ 142,512,000)
1%
6% Investment 6% income
State State and federal and Federal government Government
5%
6% Contributed rent and utilities
State and 5% federal government
5% Contributed rent and utilities
5%
Contributions
Contributed rent and utilities
5% 3% 5%
Contributions
Other Contributions
support and revenue
3% 2%
Other Investment support 3% Other and income revenue support and revenue
2% 1% Investment income
Investment income
24%
24%
6% State and Federal Government
1%
5% Contributed rent and utilities
9% State and
Contributions Investment income
2%
State Federal and Gvt. 8%
Contributed 82%
2% rent Federal Gvt. Management Other support and general
Contributed and utilities rent
8% Other and support revenue
Library and utilities
8% 6% and revenue
9%
services
State and federal government
Books and other library materials
5%
79%
21%
21% Contributed rent and utilities
City of
City Fundraising City of New of New York
5%
and York development
New York
36%
9% 9% Contributions
Investment
State State and and federal federal government
3%
income
2% 2% Other support and revenue
Contributed 2% rent rent and and utilities
24%
utilities
Contributions
8% Investment income
RESEARCH LIBRARY EXPENSES
8%
Other support and ($ 103,337,000)
revenue
Other support and revenue
72%
Management and general
BRANCH LIBRARY 2% Federal REVENUES Gvt. ($ 142,512,000)
Contributed rent
Other support
and utilities
8% and revenue
78%
BRANCH
income
LIBRARY EXPENSES
2%
($ 149,939,000)
24% 24% Contributed rent and utilities
Contributions Contributions
82%
8%
Other support and revenue
8%
Other support
Management 8% and revenue and general
Library
9%
services
Books and other library materials
21%
RESEARCH LIBRARY REVENUES ($ 102,074,000)
1% City of New York
78%
Fundraising and development
RESEARCH City of LIBRARY REVENUES 5% ($ 102,074,000)
CHANGE 36% IN ENDOWMENT 9% (in millions)
FIGURE New York3 21% 35%
Contributions
Market
FIGURE
Investment values
4as of June 30* State and federal government
City of
income
21% 35%
Investment
2%
New York
City of Investment income
24%
Contributed rent $814 and utilities $824
New York
income
$741 Contributions
8%
BRANCH LIBRARY EXPENSES 3%
$670
($ 149,939,000)
RESEARCH LIBRARY EXPENSES Other support ($ and 103,337,000)
revenue
Other support and revenue
$592
72%
11%
Management and general
Library
CHANGE servicesIN ENDOWMENT (in millions)
10%
Additions to collections
7%
Fundraising and development
$814 $824
BRANCH LIBRARY REVENUES ($ 142,512,000)
78%
City of
5%
6%
New York
Contributions
City of
State and Federal Government
New York
21%
58 annual report 2012 | 59
City of 5% New York
Contributed rent and utilities
36%
9%
3%
Investment
State and federal government
Other support and revenue
income
5%
72% 78%
Library
City of
New York
services
6% State and Federal Government
5% Contributed rent and utilities
‘08
9%
21%
9%
State and
35%
‘09 ‘10 ‘11 ‘12
*Excludes real estate investment used in operations.
Other support and revenue
Contributions
6% State and Federal Government
5% Contributed rent and utilities
79%
City of
New York
RESEARCH and utilities LIBRARY REVENUES
8% and revenue
($ 102,074,000)
2%
Contributed rent
and utilities
Market values as of June 30*
$741
78%
‘08
City of
New York
21%
City of
New York
9%
State and
Federal Gvt.
$592
$670
*Excludes real estate investment used in operations.
Investment 1% income
Investment income
6%
State and federal government
5%
Contributed rent and utilities
35%
Investment
Contributions
income 3%
Other support and revenue
RESEARCH LIBRARY REVENUES ($ 102,074,000)
2%
Contributed rent
36%
Investment
‘08
21%
City of
New York
9%
State and
Federal Gvt.
2%
Investment income
24%
Contributions
35%
Other support
Investment
21%
income
City of New York
‘09 ‘10 ‘11 ‘12
*Excludes real estate investment used in operations.
9%
State and federal government
6%
State and Federal Government
‘09 ‘10 ‘11 ‘12
5%
Contributed rent and utilities
5%
Contributions
3% Other support and revenue
1% Investment income