Indiana University has established a library endowment fund to honor beloved Chancellor Herman B Wells, who died in March 2000.
Dr. Wells often observed that the IU Libraries are the heart of the university, and he valued the importance of libraries as a shared resourced used by the entire university community.
The Wells Library Endowment Fund is a general endowment to sustain the collections and resources of the IU Libraries. Income from the endowment may be used to acquire books or electronic databases, catalog and preserve library materials, or add new technologies.
An assistant to Dr. Wells tells the following story: When a local newspaper reporter asked Dr. Wells what one thing he would have done differently if he could have the chance to re-create his administration, Dr. Wells became unusually introspective. "Well, I suppose if I were to do it over again," Dr. Wells finally said, "I would put more money in the library collections."
Endowments are particularly valuable because they provide a stable base of support. Only a portion of the income is spent each year; the remainder is redirected to the principal to ensure continued growth.
Contributions to the Wells Library Endowment Fund will help IU Libraries grow and sustain one of the nation's top research collections. IU's collections support Indiana University faculty and students in their teaching, learning, and research.