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Return on Investment Calculator

What is the library worth to you? How much does the library save you each month in out of pocket expenses?

Did you know?

Did You Know?

-Madison College Libraries and SACs answered a total of 75,348 questions in FY1718.

-On average 748,000 students visit the Madison College Libraries each year.

How Library Use Values are Calculated

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  • Books borrowed: $27 Rounded average cost of a Madison College library book purchased FY14-15
  • Reserve textbooks borrowed: $59 Average price of a used textbook according to the National Association of College Stores
  • Magazines borrowed: $5 Estimated average newsstand cost of new magazine
  • Newspapers used: $3 Rounded average newsstand cost of a Truax Library newspaper
  • DVDs borrowed: $22 Rounded average cost of a Madison College library DVD purchased FY14-15
  • Audiobooks borrowed: $27 Rounded average cost of a Madison College library audiobook purchased FY14-15

  • 3 day iPads borrowed from the library: $99 Cost of renting an iPad 2 for 3 days from Rentech Solutions (price obtained on their website 5/15/15).
  • Interlibrary loan: $17.50 Average cost in 2002 of borrowing a book via Interlibrary Loan according to a 2003 ARL report
  • Group study room use per hour: $20 Cost to rent a room of comparable capacity at the Wisconsin State Law Library
  • Info. lit. sessions attended: $33 per session
  • Estimated minutes receiving computer help: $0.35 Rounded average of Madison College librarian salary and student computer help desk student worker divided by 60 (Both librarians and student workers answer computer questions)
  • Estimated minutes working with librarian: $0.55 Rounded hourly wage of Madison College librarians divided by 60
  • Number of articles accessed via library databases: $30 Average cost to purchase an online journal article based on experience and similar number in other library calculators
  • Estimated hours spent using a library computer: $21/hour. Price charged per hour to use a computer with Microsoft Office and internet access at a local FedEx Office Print and Ship Center (Quoted over the phone 5/15/15)

Madison College Libraries Value Calculator

What is your library worth to you? How much does the library save you in out of pocket expenses?

  • Enter in the left hand column the number of times per month you use each service. Click the 'Calculate The Value of YOUR Library Use' button on the bottom to calculate your monthly value of using the library. Estimated value of each service will be calculated on the right.
  • Tip: Tab between entries and do not use commas.
  • Disclaimer: The values for the items in the calculator are estimates. When presented with various cost options we always show the lowest so the calculator likely underestimates your library value. See explanation of values in the box to the right of the calculator.

Library Use Per Month

Library Services

Value of Services

Books borrowed

$

Reserve textbooks borrowed

$

Magazines borrowed

$

Newspapers used

$

DVDs borrowed

$

Audiobooks borrowed

$

3 day iPads borrowed from the library

$

Interlibrary loan

$

Group study room use per hour

$

Info. lit. sessions attended

$

Estimated minutes receiving computer help

$

Estimated minutes working with librarian

$

Number of articles accessed on library databases

$

Estimated hours spent on a library computer

$

$
 

Acknowledgements: This worksheet has been adapted from the downloadable spreadsheet, originally provided by the Massachusetts Library Association and then adapted for the web by Chelmsford Public Library. Madison College Libraries has further adapted it for our own libraries.

Comments

We'd love to hear what value you arrived at, your thoughts on our calculator and your experience using our libraries!   Please go to Tell Us Your Story.