Financial Advocacy: Turning Data into Ammunition*

Course URL: https://nnlm.gov/mcr

The overall goal of the class is for students to establish a basic knowledge of how the library contributes to the larger organization and to be able to present that value in financial terms.  We hope that students/learners will follow up with their library's data, complete and submit their information to the Library Valuation Calculators in order to show the value of a larger number of libraries and to establish a benchmark for their performance.  The course content will include analyzing mission statements,  reviewing data and statistical concepts, analyzing both qualitative and quantitative data and exploring different ways to inform the hospital management about the library's financial contributions.  Instructional methods include lecture, discussion, individual exercises.  Students should have a basic familiarity with library generated data (usage, costs, different services).

The major concepts of this class include:

1.  Aligning the library within the mission statement of the larger institution

2.  Data collection and manipulation to determine financial value of the library - collection and services.

3.  Communicating the values established with the above concepts to "tell the story" of the library's value to the larger institution.

Learning Objectives:

1.  Learner will be able to select data to show library success and impact.

2.  Learner will be able to calculate ROI and CBA for a library.

3.  Learner will be able to use at least one method of reporting library success and impact.

Agenda:

Session 1: 1 Hour - Review of mission statements, dissection of various mission statements.  Students write a haiku poem conveying a mission message.  Methods include discussion, individual work and sharing.

Session 2: 1 Hour - Lecture on data and data analysis (including a basic statistics review), Cost Benefit Analysis and Return on Investment.  Students will practice with an exercise on qualitative analysis and class will work through ROI for developing and teaching a class.  Methods include lecture, discussion and individual exercise.

Session 3: 1 Hour - Discussion on why and how to communicate financial information.  Students will create either an annual report,  poster, T-shirt motto or other communication tool and share results with class.  Methods include lecture, discussion and individual exercise.

MLA CE Credits: 3