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As they began to consider the cost of a major renovation, including the replacement of an outdated and failing infrastructure system, the trustees of the Abbot Public Library determined that there was a need for an official fund-raising arm of the library.

Abbot Public Library Foundation was incorporated and accepted by the Secretary of the Commonwealth of Massachusetts on November 26, 2014.  On March 30, 2015, the Foundation was granted exemption from Federal Income Tax status under section 501(c)(3) by the Department of the Treasury. Contributions to the Foundation are deductible under Section 170 of the Code.

In addition to securing private funding to assist in the town-approved renovation, the Foundation seeks to honor the long-time tradition of a public and private partnership to ensure that Abbot Public Library continues to serve the Marblehead community as the center of knowledge, information, and a welcoming gathering place for all.

The Foundation is managed by a Board of Directors who consult and work in collaboration with Abbot Public Library Board of Trustees and the Library Director.