Showing posts with label ROI. Show all posts
Showing posts with label ROI. Show all posts

Friday, May 7, 2021

Libraries Are Crucial To Families ▬ Theresa Gavarone, State Senator-Bowling Green

Libraries Are Crucial To Families

Vote Libraries
Sentinel Tribune: 4.14.2021 by Theresa Gavarone, State Senator-Bowling Green

To the Editor:

I want to encourage you to visit your local public library, your community’s gem that helps in so many ways.

Before serving in elected office, I was known at my local library in Bowling Green as one of the “library moms,” routinely taking my children to story time and other library events. The public library helped us raise and educate our children. It helped us connect to our neighbors and community.

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Programs like the Dolly Parton Imagination Library or the 1,000 Books Before Kindergarten initiative help parents encourage and excite the littlest minds to learn and discover. Homework help, tutoring sessions, and partnerships with schools to deliver e-cards so students can access digital information to help school-aged children. Your local library helps people at every age, from those seeking a new job or mastering a new technology skill. From cradle to grave, your library serves you and your community.

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The library is and effective and efficient investment by a community and the State of Ohio, giving us a robust return on investment. Locally in Bowling Green, in 2019 for every $1 invested in library operations the community received services valued at $4.69.  READ MORE ➤➤
 
Based on 7 readability formulas:
Grade Level: 10
Reading Level: fairly difficult to read.
Reader's Age: 14-15 yrs. old
(Ninth to Tenth graders)

 

Library / Literacy Funding

2018
From Awareness to Funding: Voter Perceptions-Support of Public Libraries-2018, OCLC

2017
Library & Literacy Funding Chart: FY 2017 -by President, House, and Senate, ALA (excel file)

2011
Public Library Funding & Technology Access Study, ALA

2008
From Awareness to Funding: A Study of Library Support in America, OCLC

2007
Worth Their Weight: Assessment . . . Library Valuation, Americans for Libraries Council

Return On Investment – ROI

2019: Library Funding Map, EveryLibrary
Economic Impact of Public Libraries (various ROIs), WI Dept Public Instruction
Libraries Matter: Impact Research: Bibliography, ALA
Public Libraries – A Wise Investment - Library Research Service


Friday, March 19, 2021

The Costs Of Non-Access: Why We Should Talk About The Impacts Of Not Investing In Libraries ▬ IFLA

The Costs Of Non-Access: Why We Should Talk About The Impacts Of Not Investing In Libraries

@artefactors
IFLA: 2.17.2021

A lot of advocacy for libraries focuses on showing the return that our institutions provide on investment. Through this, we work to demonstrate that however much governments or other funders spend, the value created by the presence and work of libraries is more.

These arguments can be very helpful at times when governments need to take decisions, by building the case for choosing a new, renovated, expanded or enhanced library.

What we tend to do less is explore what are the costs of not acting. In other words, what are government and societies missing out on, if they do not allocate resources to the library? What harms can this cause to the achievement of wider social, economic and cultural goals?

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A case for a literacy programme that increases reading confidence and performance can also be presented as an avoidance of cost – without the library’s intervention, participants would be less likely to read, both reducing demand for books, and leaving them less able to cope with information around them.

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Similarly, an argument for having a space to welcome local community groups can also be phrased in terms of the cost of not having such a space. Forcing groups to meet in private or commercial spaces may exclude individuals, or simply make these sorts of meetings impractical.

This would have a negative effect on community cohesion and civic engagement.

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Provision of internet access and internet-enabled devices offers another example. The costs of non-access to the internet through public centres such as libraries will, for some people, mean significantly reduced possibilities to get online, for others it may mean none at all.  READ MORE ➤➤
 
Based on 7 readability formulas:
Grade Level: 12
Reading Level: fairly difficult to read.
Reader's Age: 17-18 yrs. old
(Twelfth graders)


Saturday, December 26, 2020

Four Reasons Why Libraries are as Important as Ever ▬ SHP

Four Reasons Why Libraries are as Important as Ever

Library of Congress
SHP: 7.27.2018 by Lauren Della Bella

Libraries are a vibrant, essential part of local communities and places of learning. That’s why, like many across the internet, we couldn’t disagree more with a now-retracted opinion piece that appeared recently on Forbes.com, calling for the removal of publicly funded libraries to be replaced by local Amazon bookstores.

Libraries are community innovation spaces

Most people who think of libraries as outdated relics full of dusty pages, outdated books and a hawkish librarian who prowls the stacks listening for noises above a whisper haven’t actually been in a library in quite some time. In fact, most libraries are a modern, beautiful nexus of knowledge and collaboration in a community.

Libraries are digital hubs

Libraries have wisely used public funds to stay up to date with technology and readership trends. Although print books aren’t exactly going away—at least, not according to sales numbers—those who prefer digital and audio versions of books can still benefit from a membership to the local library.  Libraries recognize that generational needs and differences often influence a preference for whether content is delivered in printed, digital or audio form and they provide all of these options.

Libraries are worth the investment

Taxes and levies are a sensitive subject, and helping a community understand the benefit of public funding for facilities is something we deal with a lot. Despite the arguments, it remains clear that public investments in libraries have a net economic benefit. Depending on the specific state, for every $1 of public revenue collected for libraries, between $4 and $8 in resources are returned to the community.

Because of the economy of scale—and the savings associated with sharing and reusing resources—libraries save community residents money. They help local job markets by training the talent pipeline and they provide access to meeting spaces, technology and other resources for civic groups, clubs and neighborhood organizations.

Libraries are beautiful

As an architecture and design firm, we’re obviously biased here, but the design of libraries are often focal points in cities and towns across America. They reflect the local aesthetic and give every citizen a town treasure of which they can be proud.

Some of the most famous libraries are architectural marvels that awe and inspire the masses. In America, we’re collectively drawn to beaux-arts style of our national Library of Congress—the oldest federal cultural institution in the country and largest library in the world.  READ MORE ➤➤

Based on 7 readability formulas:
Grade Level: 13
Reading Level: difficult to read.
Reader's Age: 18-19 yrs. old
(college level entry)


Friday, May 1, 2020

We Will Lose Libraries to COVID-19 via Medium.com


We Will Lose Libraries to COVID-19
Medium.com: 4.16.2020 by Kate Tkacik Sweeney

Your local public library is likely tied, inextricably, to your local economy. Most public libraries in the United States are paid for by some combination of sales and property tax. As spending halts, so does financial support for the library. We’re already seeing sweeping cuts to local administrations, laying off or furloughing hundreds of workers, library workers along with them. This isn’t false hype or hysteria. It’s happening. It will get worse.

Publicly funded libraries were already facing an uphill battle. Over the past decade, voter support for libraries has tanked. Even as the library is generally perceived favorably, increasing anti-tax sentiment undermines the library’s ability to expand, or even exist.

Every day of quarantine reinforces new or different habits. Active library users may find new ways to get resources or learn. The break in continuity, this possible behavior change, paired with loss of tax and voter support, will be catastrophic.

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Is it certain libraries will close? Yes, for some. But there are simple actions every citizen can take to try to ensure their library remains. Just like any other cause, the library needs your action and your advocacy. Being a user of the library is wonderful — even commendable — but there is not clear data to suggest that use of a library correlates to financial support of the library (really!). So this is an ask of you: will you be a library advocate? Will you support library workers? Will you be a library voter? If yes, then here’s what’s next:

Email your state and national representatives, and tell them you care about your library and library workers, and you recognize your library’s importance to your community.

Research your local library to understand who your local library officials are — could be your city council or a specific elected politician. Write to them. Tell them you care about your library.

Engage with your local library on social media. Tweet them up, re-post them on Facebook. Get the library in front of your social networks.

Now find a friend and get them to do all of the above, too.

If you have the resources, consider a donation to EveryLibrary*. EveryLibrary is the first and only 501c4 action organization dedicated to helping libraries win at the ballot.  READ MORE ➤➤

Based on (7) readability formulas:
Grade Level: 9
Reading Level: fairly difficult to read.
Reader's Age: 13-15 yrs. Old
(Eighth and Ninth graders)


2018
From Awareness to Funding: Voter Perceptions and Support of Public Libraries in 2018, OCLC
2017
Library & Literacy Funding Chart: FY 2017 -by President, House, and Senate, ALA (excel file)
2011
Public Library Funding & Technology Access Study, ALA
2008
From Awareness to Funding: A Study of Library Support in America, OCLC
2007
Worth Their Weight: Assessment . . . Library Valuation, Americans for Libraries Council

Return On Investment – ROI
2019: Library Funding Map, EveryLibrary
Economic Impact of Public Libraries (various ROIs), WI Dept Public Instruction
Libraries Matter: Impact Research: Bibliography, ALA
Public Libraries – A Wise Investment - Library Research Service


Tuesday, December 17, 2019

Why Libraries Are An Economic Lifeline For Millions Of Americans via Market Watch


Why Libraries Are An Economic Lifeline For Millions Of Americans
Market Watch: 7.25.2018 by Jacob Passy

Ron Baron’s local library was a critical lifeline when he was unemployed.

The 20-year-old resident of Grand Junction, Colo., often found himself hanging out at the library when he was jobless. “It’s one of the only places I could go to without the expectation of spending money,” Baron said.

But the library was more than just a place to relax indoors. Baron also used resources at his library to apply for a job. And when he found out that the job he initially wanted was already filled, library staff helped connect him with a workforce center that helps unemployed individuals find jobs free of charge. “I would have never learned about it otherwise,” he said.

Thanks to that recommendation, Baron now works in housekeeping at a hotel. When he’s not working, he reads books — from his local library — about computer programming in preparation for coursework he plans to complete at the local community college.

Baron is just one of the millions of people nationwide who benefit extensively from the resources libraries provide.

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Here are some of the many ways that libraries improve the communities they are located in:

Researchers in Zimbabwe found that the promotion of public library services in the southern African country helped to improve literacy among children and adults, leading to Zimbabwe having one of the highest literacy rates in Africa. Being illiterate has significant financial ramifications—experts have estimated that illiteracy costs the global economy $1.2 trillion each year.

Other studies have shown how having more books in the home will improve a young child’s educational attainment later in life; for low-income families, libraries help to reduce the financial burden of stocking a home library.

Ninety-six percent of libraries have job and employment resources, and it is estimated that roughly 30 million people use those resources in their career search each year.

Utilizing the free resources from libraries —everything from checking out magazines to borrowing power tools to getting free museum passes—can save households hundreds of dollars a year.

Nearly one in four Americans have visited a library to use the computer or access the internet. These people are more likely to be minorities or low-income.

Programming at public libraries, such as classes on nutrition, can help improve people’s health.

The return on investment for a public library varies, but research has generally shown that the money goes to good use. The median ROI for public libraries in Colorado was $4.99, meaning that the public value created by libraries was nearly five times greater than the tax money spent on them, per a study conducted by the Library Research Service. In some parts of the state, the ROI exceeded $30.  READ MORE >>


Tuesday, November 19, 2019

The Economic Case For Supporting Libraries via Book Riot


The Economic Case For Supporting Libraries
Book Riot: 11.06.2019 by Christine Ro

Here at Book Riot, we’re well aware of the many benefits of libraries. We’ve written, for instance, about how libraries:

Of course promote literacy, including by sharing tips with parents
Provide a sanctuary
Improve educational outcomes
Create community spaces
Provide a wealth of digital materials . . .
Preserve local history and culture
Champion diversity . . .
Open gateways to possible careers and lifestyles, including for future authors

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Overall, the Public Libraries report claims that each £1 invested in a local library service has an economic return of £5–7. The similar return on investment is £3.89–5.48 in the U.S. and over £4 in New Zealand.

It will be impossible to quantify every advantage libraries offer to their communities. But Public Libraries: The Case for Support and similar research shows that these advantages are evidence-backed and undeniable. This is especially useful when calling on policymakers to commit funding in order to maintain and develop libraries.  READ MORE >>


2018: From Awareness to Funding: Voter Perceptions & Support . . ., OCLC
2017: Library & Literacy Funding Chart: FY 2017 -by President, House, and
Senate, ALA (excel file)
2011: Public Library Funding & Technology Access Study, ALA
2008: From Awareness to Funding: A Study of Library Support in America, OCLC
2007: Worth Their Weight: Assessment . . . Library Valuation, Americans for Libraries Council

Return On Investment - ROI

2019
Library Funding Map, EveryLibrary
Economic Impact of Public Libraries (various ROIs), WI Dept Public Instruction
Libraries Matter: Impact Research: Bibliography, ALA
Public Libraries – A Wise Investment - Library Research Service


Friday, April 19, 2019

Library Funding Map :: EveryLibrary Institute


Library Funding Map



The EveryLibrary Institute is working with the Syracuse University School of Information Studies to establish this collaborative project between researchers and practitioners with the goal of developing an open-access interactive online platform that increases understanding of return on investment of public libraries at the local, state, and national level; identifies major factors influencing ROI, including similarities and disparities among libraries; and fosters collective impact communicating the value of libraries in the 21st century.

Our prototype library funding and return on investment map is built from data provided by the Institute of Museum and Library Services. It includes data from every library that participated in the 2016 data collection. In this interactive map, you can find your library and view your library's preliminary return-on-investment (ROI) indicator. This ROI indicator is based on early data and is displayed only for informative purposes. While the project is ongoing, new data points will be incorporated to include local funding issues and more accurately represent the return on investment for our nation's libraries. In most cases, once that data in incorporated, these ROI measures will drastically increase.

Libraries increasingly need to demonstrate value, especially via quantifiable measures that link libraries to social and economic prosperity. Although various approaches can provide such measures, one effective method is ROI. ROI measures the value received (usually in dollars) as a result on of an amount invested in a particular asset. Most calculations rely on traditional methods, such as cost-benefit analysis, to demonstrate how investments to public libraries, such as taxpayer money, benefits both individual citizens and local communities. Data for these studies may be taken from local economic data, such as tax dollars collected, which are then compared with general estimates representing the dollar value of library collections, circulation and reference services, events, and programming. Other studies have used statewide survey data regarding public library use or interviews with stakeholders regarding library services: for example, a study of Colorado libraries compared time and money costs to use public libraries for a particular service vs. the time and money costs of alternative service providers.

We are working to bring U.S. public libraries a thorough, nationwide systematic study of ROI to demonstrate relevance in the contemporary information environment, advocate for support, secure ongoing funding, and allow libraries to make informed strategic decisions. Further research questions we are pursuing include:

What is the return on investment (ROI) for U.S. public libraries at the local, state, and national level?

What measurable outputs are necessary for such calculations? What models are most appropriate?

What similarities and disparities in ROI exist across public libraries in the US

What factors might contribute to these disparities?


Return On Investment - ROI
2019

Library Funding Map, EveryLibrary
Economic Impact of Public Libraries (various ROIs), WI Dept Public Instruction
Libraries Matter: Impact Research: Bibliography, ALA
Public Libraries – A Wise Investment - Library Research Service


2018
From Awareness to Funding: Voter Perceptions and Support of Public Libraries in 2018, OCLC
2017
Library & Literacy Funding Chart: FY 2017 -by President, House, and Senate, ALA (excel file)
2011
Public Library Funding & Technology Access Study, ALA
2008
From Awareness to Funding: A Study of Library Support in America, OCLC
2007
Worth Their Weight: Assessment . . . Library Valuation, Americans for Libraries Council

Monday, December 3, 2018

The Value of California’s Public Libraries


The Value of California’s Public Libraries

The California State Library is exploring and demonstrating the value that public libraries provide to their communities and the people who invest in them through a project titled Measuring the Value of California's Public Libraries. The project began in January 2017 and continues until June 2019.

LIBRARIES IMPROVE THE BOTTOM LINE
During the first phase of the project, we identified approximately 60 resources that demonstrate the financial return of funds provided to public libraries. The resources we identified were selected for their relevance to California and they include studies conducted in California, studies of national and international significance, statewide studies from outside California, and studies using notable methodologies.

Like other meta reviews, our resources demonstrate that investment in public libraries is a sound use of public funds: for every dollar invested in libraries, about $2-$10 are returned, with an average of between $3 and $6. The solid findings of high financial returns reinforce that governments and other financial investors can continue to trust public library leaders as good stewards of public money.

The selected resources are available below and we invite users to consult individual items or pull the resources together as a whole and use them in the way that is best suited to their own context.

THE MANY DIMENSIONS OF VALUE PROVIDED BY LIBRARIES
While the return on investment numbers we discovered are compelling, they are but one piece of a larger picture. A more complex approach to looking at libraries' value considers many dimensions of value including user satisfaction and social impact as well as economic impact.

In the second phase of the project, we identified a further 46 resources that demonstrate the different types of value that libraries provide. Within this category, definitions of value fall into a few broad categories, including

◆the social value to vulnerable populations (e.g., persons experiencing homelessness, those recently arrived in a new country and who are facing cultural and linguistic barriers);

◆personal economic development for users (e.g., job search, resume writing, small business development, etc.);

◆the value of services provided by libraries during times of crisis response and how they contribute to community resilience;

◆the opportunity for users to enhance their personal learning and knowledge development; and

◆the development of social capital in communities.


Thursday, November 15, 2018

Supporting Those On The Frontlines Attacking Illiteracy via Perspectives On Reading


Editorial: Supporting Those On The Frontlines Attacking Illiteracy
by Steve Potash, Publisher
Founder and CEO of OverDrive

If you’re able to read this, congratulations.
Thirty-two million adults in the United States can’t.

The ability to read has value beyond just picking up your local newspaper or discussing the latest New York Times bestseller with your book club. For half of our population, their literacy skills are so low they’re unable to read prescription drug labels, and 20 percent of Americans read below the level needed to earn a living wage.

Studies also find that children whose parents have low literacy levels have a 72 percent chance of being at low literacy levels themselves, and research shows that 2/3 of students who cannot read proficiently by the end of fourth grade will end up in jail or on welfare. The correlation is so strong that some states even use elementary school reading tests to determine the number of prison beds to budget for in the future.

That’s the number of words students who read at least 30 minutes per day are projected to encounter between kindergarten and 12th grade. By the time they graduate, their peers who read less than 15 minutes per day will have only encountered 1.5 million words throughout the course of their schooling. Just 15 minutes more per day determines exponential levels of vocabulary growth. For at-risk students, an extra 15 minutes a day can make the difference between getting their diploma or dropping out.

This urgency to create and cultivate a love of reading in children needs to start before kindergarten. In a study of 3-5 year olds, it was found that those children that had been read to at least three times a week were twice as likely to recognize all of the letters and twice as likely to understand words in context. Children who enjoy reading tend to read more often and reading to them early, even as young as infancy, has benefits.

Our libraries offer a beacon of hope against the rising tide of low literacy skills. For families struggling to survive below the poverty limit, libraries provide free resources for all ages, including story time and reading programs for children. Many also offer tutoring and literacy classes for adults. For individuals who speak and read a native language other than English, libraries offer language learning classes. Parents working non-traditional hours know that the library is a safe space for their children to spend time after school.

The value that libraries contribute to their communities cannot be understated. Time and time again, across multiple states and countries, study after study shows that for every $1 in library funding, there’s a $4-$5 economic benefit to the community. Supporting our local libraries is the most effective and efficient way to address the literacy crisis head on.

Reading, and having the ability to read, allows our neighbors and friends to make informed decisions regarding their mental and physical health. Literacy provides opportunities for jobs and career advancement. Literacy offers a secure and safe environment for children to grow and thrive. Acquiring literacy skills as an adult can alter the course of an individual’s life, putting them on a path toward personal and professional success. With improved literacy comes improved job opportunities. Gainful employment allows families to flourish, giving children the opportunity to break the poverty cycle created by illiteracy.

Along with libraries, schools and publishers have opportunities to help. Here are some ways organizations can promote literacy efforts:
LIBRARIES
SCHOOLS
PUBLISHERS


Saturday, October 13, 2018

The Return-On-Investment from Your Public Library is Unbelievable! via Medium (EveryLibrary)


The Return-On-Investment from Your Public Library is Unbelievable!
If libraries were a business, you’d want to buy that stock
Medium.com (EveryLibrary):  7.17.2018 by Oleg Kagan

Wise investors know a good deal when they see it, which is why so many people who are smart and rich love their public library. It’s simple, really, if you consider what the average U.S. household pays for library services (~$7.50/month) and put that next to a public library’s vast offerings, the point is obvious. For under ten dollars you get thousands of books, music, movies, wholesome activities for kids, very expensive market research databases, and a much, much more.

But say you’re still not convinced that libraries are a smart investment. Okay, what if I tell you that over and over again research has shown that the Return-on-Investment (ROI) for your local library is around $5 (but could be up to $9), for every dollar spent. It’s true: for every dollar that communities invest in library services they get five back!

Is this a killer deal? Of course it is! It’s why nearly every personal finance guru sings the praises of libraries. Note, these are not abstract benefits like how libraries help build a stronger Democracy, or how they inspire curiosity in people, a library’s ROI is the institution’s worth in cold hard cash. This doesn’t just translate to value for the individual either, a well-funded library raises surrounding property values, helps develop an intelligent workforce (making your area attractive for cutting-edge companies), and makes local social services more efficient.  READ MORE >>


Return On Investment - ROI
Economic Impact of Public Libraries (various ROIs), WI Dept Public Instruction
Libraries Matter: Impact Research: Bibliography, ALA
Public Libraries – A Wise Investment - Library Research Service

2018
From Awareness to Funding: Voter Perceptions and Support of Public Libraries, OCLC
2017
Library & Literacy Funding Chart: FY 2017 -by President, House, and Senate, ALA (excel file)
2011
Public Library Funding & Technology Access Study, ALA
2008
From Awareness to Funding: A Study of Library Support in America, OCLC
2007
Worth Their Weight: Assessment . . . Library Valuation, Americans for Libraries Council