Dear Friends of the Atheneum,
This is my second annual letter to you as Chair of the Atheneum’s Board of Trustees. Last year was both exciting and challenging and I welcome this opportunity to update you on what transpired during 2022, what we can look forward to in 2023 and, of course, to thank you for your continued generosity and support of our island library.
Last year we highlighted the growing concern of securing affordable housing for library staff. Sadly, five valued employees left the Atheneum in early 2022, a direct result of lease terminations, a scarcity of acceptable alternatives and the competition amongst town employers for those who have secure housing options. The Board’s Housing Task Force was quick to respond to this challenge and in late Spring the Trustees voted to purchase a two-structure property on Cachalot Lane.
With eight bedrooms, six bathrooms, two kitchens and room for expansion, the Cachalot investment will accommodate staff housing needs well into the future. As of today, four full-time staff members are residents of Cachalot. Going forward, having available, attractive residential space will remain invaluable as the library strives to attract and retain exceptional talent.
It was exciting to welcome both the Dance Festival and the Turkey Plunge back to “in person” events in 2022 and the results speak for themselves. The Atheneum’s 15th annual Dance Festival, staged by Artistic Director Tyler Angle, was executed flawlessly thanks to the dedicated effort of the Atheneum’s Development team and Tyler’s remarkable performing artists. The quality of the weekend’s performances, following a week of educational programming related to dance, gave us pause to consider our great fortune in being able to bring such incredible talent to our small island community.
Speaking of community, the beloved Turkey Plunge came roaring back to Children’s Beach in 2022. Atheneum supporters, event sponsors and over 1,000 enthusiastic “plungers” turned out to raise over $100,000 for the Weezie Library. Those of you daring the cold for the benefit of our children and their families deserve a huge round of applause!
Finally, I am excited to share with you that our 2022 Annual Giving Campaign recently concluded with over $680,000 raised, surpassing not only our internal goal, but also our 2021 results. We believe your generosity is reflective of the quality and breadth of the library’s programs and services and we remain committed to deploying your generous gifts to further enhance your Nantucket library experience.
Continued increases in overhead expenses related to the Atheneum’s staff housing purchase, increased health insurance costs and the maintenance of our historic downtown building will continue to put pressure on the library’s bottom line. The Cachalot purchase was funded via a combination of mortgage financing and a draw from our endowment. It is the Board’s goal to raise approximately $3.5 million to retire the debt and replenish the endowment over the next five years to ensure the Atheneum’s continued financial strength.
You will soon hear more about our initiatives related to this fundraising effort. In the meantime, should you like to receive further information or want to make a contribution in support of housing, please feel free to visit our website (nantucketatheneum.org) or contact our Director of Development, Maggie O’Reilly (moreilly@nantucketatheneum.org).
The Dance Festival has provided fifteen years of outstanding performance and cultural enlightenment for the entire Nantucket community and has yielded significant financial support for the Atheneum. After a great deal of discussion and analysis, the Board and staff have elected to pursue alternate fundraising opportunities in 2023 with the goal of further diversifying our target audience, creating an event more closely aligned with the mission of our organization and controlling costs by taking advantage of our wonderful historic space. Planning for the new July 2023 celebration has begun in earnest and we encourage you to mark your calendars and stay tuned for updates as our weekend begins to take shape!
The Board of Trustees elected four new Trustee members at its Annual Meeting in June 2022, and we would like to extend a warm welcome to Chris Berger, Ann Calder, Nate Cressman and Charity Grace Mofsen. Each of these talented individuals brings a unique strength and new energy to the Board and we look forward to working more closely with each of them in the years ahead.
Sadly, we bid farewell to three exceptional Trustees whose terms expired in 2022: Katie Brownell, Patrick Hehir and Jane Tyler. Their collective wisdom and active participation will be sorely missed. In recognition of her outstanding service to the Atheneum over sixteen years, the Board voted unanimously to name Jane Tyler a Trustee Emeritus. We remain forever indebted to Jane for her zealous leadership of the Dance Festival and her guidance as a long-standing member of the Board’s Executive Committee.
I’d like to thank each of the Trustees for their tireless support of the Atheneum during 2022. Their constructive input and willingness to dedicate a significant amount of time to our housing dilemma, coupled with their generosity in terms of financial support and stewardship for our public library is greatly appreciated.
I’d also like to thank Ann Scott, our Executive Director, for shepherding the Atheneum through the island’s unique challenges while embracing the creativity and change necessary to maintain the vibrancy of our special institution.
Lastly, and on behalf of the Board of Trustees, please accept our sincere thanks to you, our donors, supporters and advocates. We feel honored to serve such a remarkable population and it is your enthusiasm and support of what we do that drives our mission forward.
With warm regards and best wishes for 2023,
Tracy Flannery
