MEMBERS’ NEWS ‘NEW FOUNDATIONS’ – THE STRATEGIC PLAN FOR THE LONDON LIBRARY In the autumn of 2018 the trustees approved a new 5-year strategy which sets the overall direction and key aims of the Library up to 2023. Encouraging progress has been made during 2018–2019. The aim of the strategy, which was introduced to members at the 2018 AGM, is to expand the Library’s reach and impact, while restoring its finances to balance, creating ‘new foundations’ for the future. A difficult task, certainly, but necessary if the Library is to continue to inspire and support writers, thinkers, scholars and artists in the creation of works and ideas that touch the lives of many millions and help shape the intellectual history of the nation and the world. Based on the overall aim of the strategy the two principal goals are as follows: Goal 1 To substantially increase awareness of, access to, and engagement with the Library The first goal is rooted in the desire to deliver increased public benefit, enhancing the fulfilment of the Library’s charitable purpose and its founding principles. Goal 2 To remove the core operating deficit by the end of 2022–2023 In the past few years the Library’s Treasurer has used these pages to detail the challenging financial situation the Library faces. Income from membership, commercial activities and ongoing revenue fundraising does not cover the day-to-day costs of running the Library and maintaining its premises and collections. In order to become financially sustainable, the strategy has the aim of removing this core operating deficit by 2023. This will require an increase in membership numbers, revenue fundraising providing an increased proportion of the Library’s annual income, and tight cost control. Compared to the previous year the core operating deficit reduced by £123k to £737k for the year ended 31 March 2019, so although the deficit is still significant, progress is starting to be made. In order to achieve these goals the following 8 objectives were identified and the progress against each in 2018–2019 is detailed below:
The Times was one of several major news outlets covering our discovery of Bram Stoker’s source books for Dracula.
Objective 1 Raise our public profile to drive increased awareness, use and membership of the Library. We will give an additional focus to attracting and welcoming younger people to the Library. Much has been achieved in moving the Library from ‘hidden’ to ‘renowned treasure’ status. The Library has featured in a series of print and radio interviews and articles during the year, including interviews with BBC radio during the Henley Literary Festival and a feature on miniature books in the Guardian. In early 2019, in collaboration with Creation Theatre, we staged an extremely successful sell-out run of 22 performances across 6 weeks of the stage play Dracula. This followed on from the discovery by Philip Spedding, the Library’s Development Director, that the Library’s shelves were home to 26 of the 32 original books that Bram Stoker used to research his eponymous novel, published in 1897. The discovery, and the subsequent staging of the play, resulted in media exposure on television and the radio, and in a number of national and international newspapers. Recognising the importance of young people to the future of the Library, the maximum age for Young Person Membership was increased from 24 to 26 and we started a Trustee placement scheme to add the voices of two young people to board-level discussions. Our Young Person Membership increased by 40% THE LONDON LIBRARY MAGAZINE 27
