 "Photo: Meg Gaillard")
 "Photo: Meg Gaillard")
Millions of dollars worth of materials are sitting on the mezzanine level of the Thomas Cooper Library.
Rare Books and Special Collections have original manuscripts and books that can be worth more than a million dollars, such as the Ernest Hemingway collection, which was appraised at $1.8 million.
Where does Rare Books get the money to buy things worth almost $2 million?
People give it away.
"Rare Books gets new collections or individual acquisitions largely from gifts, both gifts of books and gifts of money to buy books, and partly from library endowment income," said Patrick Scott, Special Collections director.
There has not been a major addition in the past 10 years that was not primarily funded by one of those three options, Scott said.
People give their collections to the library so that they will be taken care of correctly and so that they will remain a collection.
"The collector has an investment not only of money but of expertise and long-term involvement," Scott said. "Few collectors want to see their collection dispersed."
For the Hemingway collection, $900,000 of the asking price was a gift from the previous owner, and $750,000 was a gift from a USC alumnus, Edward S. Hallman.
The new addition to Rare Books is the John Milton Collection, appraised conservatively at $1 million. The previous owner and the library estimate it as significantly more, Scott said.
A private donor and foundation, William L. Richter and the William L. Richter Family Foundation, are providing half of the million dollars, respectively. It will be received Thursday at 4 p.m., said Dean of Libraries Paul Willis.
However, the collections found in the Rare Books section were not all given to the library.
Rare Books also uses its small budget and library endowment income to help purchase its collections.
Their budget was cut by half in the 2001-2002 fiscal year to about $29,000.
"Gifts and endowments, not state funds or tuition, are the main replacement to which we look for the money that was cut," Scott said.
However, Scott is not concerned about their ability to add to their collection.
"Recently gift income from the Ex Libris Society and other donors has been making up for much of that reduction," he said.
Members of the Ex Libris Society contribute $1,000 or more to a fund that benefits the libraries of USC. Members can also choose endowments, which "will provide a continuous stream of income to support the stated purpose of the fund," according to the Ex Libris Society Web site.
The Ex Libris Society is giving so much to Rare Books that their plaque on the mezzanine level of the library has nearly 100 names. Each person donated $1,000 or more to USC libraries last year.
"We are proud of what has been accomplished and grateful to the donors who make it happen," Scott said.
Be the first to comment on this article!