State Library of South Australia

Dissolution of the State Library of South Australia Foundation

The State Library of South Australia Foundation Inc. was founded in 1989 and provided much support to the State Library throughout the years. In May 2016 the Foundation decided to dissolve and deregister, with its funds being donated to the Libraries Board of South Australia. The Foundations Chair, Albert Bensimon, has provided the following statement:

The State Library of South Australia Foundation had a long and proud history of supporting and enhancing the work of the Libraries Board of South Australia across the State. Since its founding in 1989 it made major contributions including, in 2015, facilitating the acquisition of the immensely important Angas Collection.

However, for a variety of reasons the costs of administering the Foundation, which were necessary for its effective operation, began to exceed the amounts raised by its activities or its income from investments. Although the Foundation remained solvent and had substantial investments, it became clear that the situation was unsustainable and would continue to eat into funds that might otherwise be applied in fulfilment of the objectives of the Foundation.
It was therefore with considerable regret that the Board resolved that the most efficient and cost-effective path would be the transfer of the funds of the Foundation to the Libraries Board of South Australia, which would then have the use and benefit of those funds without the additional administrative costs of operating the office of the Foundation. The funds could be applied in a manner that would respect the objectives of the Foundation and preserve the memory of its contribution.

At a Special General Meeting of the State Library of South Australia Foundation Inc held on Thursday 26 May 2016, it was agreed unanimously that the Foundation be dissolved following the transfer of the bulk of its funds as a donation to the Libraries Board of South Australia and application to the Corporate Affairs Commission for deregistration; and that such donation be held or used in a manner to be determined by the Libraries Board of South Australia as would perpetuate the memory of the Foundation.

The process of completing the necessary financial and legal transactions and winding up the Foundation office will be completed in September 2016, and all fundraising activities will henceforth be undertaken directly by the State Library of South Australia.

On behalf of the Board of the Foundation, I thank all our Members, donors and volunteers for their past support, and hope you will continue to support the State Library of South Australia directly in the future.

Albert Bensimon
Chair - State Library of South Australia Foundation Inc
September 2016

Contact Us

Phone Us: +61 8 8207 7250
Ask Us a research query
Visit Us: Corner North Tce
& Kintore Ave, Adelaide

Media queries
Venue hire queries

View our contact details


Copyright & this website | Disclaimer | Privacy | Tell us what you think | Accessibility | FOI | Sitemap

Page last updated: 10:00 AM 7 Sep 2016

Page URL: http://www.slsa.sa.gov.au/site/page.cfm?u=1052

State Library of SA homesa.gov.au - South Australian Government