Forbes Library recently received a gift from the estate of David W. Shearer who was a former trustee and a longtime financial supporter of the library. Mr. Shearer was also a dedicated patron who could often be found in the library’s Chester Reading Room catching up on world affairs.
The newly established David W. Shearer Memorial Periodicals Fund will support the annual budget for the library’s extensive offerings which currently include dozens of newspapers and magazines. “This gift allows the library to have sustainable support for readers like David for generations to come,” said Lisa Downing, the library’s director.
The library relies on its endowment funds as well as donations from individuals and the Friends of Forbes Library to support its entire annual book and media budget. This arrangement has been in place since the library opened in 1894. As costs have increased, all fines have been eliminated, and state mandated spending requirements have risen, the library has struggled to keep pace. The Shearer Fund and similar gifts provide new and much needed income.
“David Shearer was a very wise and thoughtful person as well as a great supporter of the library. His gift is a wonderful way to not only honor him, but also to carry on his legacy at Forbes,” said Russ Carrier, the president of the library’s board of trustees.