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The impetus for Heslin's interest in the catalog and acquisitions policy was definitely the Wroth report. Indeed, in his article, Heslin reiterated many of Wroth's recommendations, particularly the need for an acquisitions policy that would establish chronological and geographical limitations on collecting. Like Wroth, Heslin believed that many libraries were now adequately collecting material relating to the present period and to particular localities and that many libraries in the city and state of New York had collections that were strong in material dating from 1850. "The greatest strength of the Society's collections," Wroth wrote (and Heslin reprinted), "rested in rare Americana and retrospective material."

After considering the Wroth report, the Society's board of trustees adopted a new acquisitions policy that identified twenty-one separate categories, assessed the strength of the collections in each category, and issued a guiding statement for future acquisitions. The categories enumerated in the policy cover a broad spectrum, including American fiction, poetry, and belles lettres; the California gold rush; the Civil War; New York City and State; slavery; sheet music and song­sters; and professional literature.

The 1959 Library Acquisitions Policy is reprinted in its entirety in Appendix D.

One reason that Heslin and the board were able to pay such close attention to cataloging and acquisitions was the Society's prosperous financial condition. By 1962, the Society had run its ninth consecutive surplus, and the board-restricted accumulated surplus stood at $217,OOO.

See Table C.4-1 in Appendix C.
The 1961 annual report referred to the Society's quiet and steady growth, and the 1962 report pointed out the Society's "healthy financial situation."

It may have come as a surprise to some, then, when Frederick B. Adams, who took over as president in 1963, appealed for help in addressing serious needs the Society faced. In his first annual report, Adams showed courage and foresight in his summary of the Society's financial position. He pointed out that although the value of the Society's endowment had increased significantly since 1948, there had also been a large increase in payroll and benefits for the staff over the same time period, despite the fact that the total payroll had been reduced from seventy-two to sixty-four persons. He warned that a continuation of that trend without additional revenue was not sustainable.

Furthermore, Adams stressed that since the Society was housed in a struc­ture built at the turn of the century, major capital investments were necessary. Not only did the Society need to invest in a general renovation of the building and a re-installation of its galleries, but it also very much needed to install an air-conditioning and ventilation system. Rather than being required merely for staff comfort, an air-conditioning system was essential to protect the Society's collections. Not only would the system provide temperature control, but it would also eliminate open windows that brought the city's damaging soot into the building. Adams estimated that $1 million would be required to complete these projects, an amount that could not be captured through operating surpluses. We have "begun to marshal our forces," he wrote, "to seek special grants and gifts from foundations and individu­als"—in other words, to launch a capital campaign.

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Source:  OpenStax, The new-york historical society: lessons from one nonprofit's long struggle for survival. OpenStax CNX. Mar 28, 2008 Download for free at http://cnx.org/content/col10518/1.1
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