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Conclusions and Next Steps
Factors derived from faculty response to the survey were incorporated into the ROI model to produce a calculation that reflects one benefit of the library related to grant income. Extending this work to include more costs and benefit factors will produce a more complete picture of the value of the academic library.
FINDINGS
The faculty participating in the survey clearly confirmed assumptions in the model, and an analysis of the responses provided three factors that serve as part of the model: 95% of responding faculty state that citations are important in securing grant awards, 94% of responding faculty use citations in grant proposals, and 94% of responding faculty obtained citations via the campus network or Library Gateway. Using these factors in the model produces a return of $4.38 in grant income to the university for every dollar invested in the library in 2006.
NEXT STEPS
It is important to note that grant income secured by faculty using library resources represents a portion of the value the university receives from the library. It does not include the value of library resources to faculty in teaching classes or in conducting their research.
In reviewing this model, Dr. Bruce Kingma, who has his Ph.D. in Economics and is the Associate Provost for Entrepreneurship and Innovation and has a joint appointment as Professor in both the Martin J. Whitman School of Management and the School of Information Studies at Syracuse University, suggested it would be worthwhile to expand this study to include the complete system of inputs—library resources, faculty, staff, and students—and to determine the influence of each on the system. An expanded model could support the projection for the return on an additional dollar invested. Other factors such as income from tuition, patents, and technology transfers could be included as part of the value equation. Implementing this model with multiple institutions could produce benchmarks and trends useful in assessing the impact of the library.
The development of a rich data set in support of an ROI for the academic library could be a useful
reference as universities evaluate the many priorities competing for their resources. Quantifying the
library’s contribution to the process of securing grants highlights its supportive role in implementing the
university’s strategic plan. Positioning the library in this broader context provides metrics that reflect how
the library supports institutional goals. 
