The Peabody Institute of Danvers, Inc., also known as the “Peabody Trust” or “Trust,” is a private, nonprofit organization incorporated in 1882. The Trust is governed by an Executive Board consisting of the nine member, municipally-elected Board of Library Trustees.
The purpose of the “Trust,” in the spirit of George Peabody’s original gift to the Town of Danvers in 1852, is to raise, manage and spend funds in operational support of the Peabody Institute Library. These funds supplement the Peabody Institute Library’s operational budget appropriated by the Town of Danvers, as well as funds granted through the Commonwealth’s State Aid to Public Libraries. The vast majority of the Trust’s holdings are invested in various securities. Money allocated from the Trust to the Library’s annual budget is drawn from the interest earned from these investments. The Trust also earns money from sales of merchandise and from private donations.
The money allocated to the Library’s annual budget is used primarily for programming and to help cover administrative costs. This fiscal year the Trust has allocated $23,000 to the Library’s annual budget.
Inquiries concerning or donations to the Trust may be directed to:
Alex Lent, Director
Peabody Institute Library
15 Sylvan Street
Danvers, MA 01923
or emailed to:
If sending a donation, please make checks payable to “Peabody Institute Library.”