The Library Fund is a field-of-interest fund of The Indianapolis Foundation. An anonymous donor to the Foundation established the fund in 1989 to benefit designated public, academic and high school libraries in Marion County. Through policy and practice, additional high school libraries have been included once they add full-time staff and dedicated library facilities.

The Indianapolis Foundation's Library Fund has awarded more than $14 million since its inception in 1989 to increase literacy, information literacy, and information access for Marion County residents. Public, high school, and academic libraries make use of the Fund for innovative programs such as:

• IUPUI's University Library and its Center for Service Learning are using a $30,594 grant to engage college students in family literacy programs for low-income and Hispanic residents in the near-Westside of Indianapolis.
  
• Arsenal Tech, Beech Grove, Roncalli, and Southport High Schools, and the Franklin Branch Library, all used small grants to test new evening and weekend programs to successfully encourage youth to read.
  
• An annual grant of more than $600,000 underwrites www.ilibrary.org which provides free access to newspaper, journal, magazine articles and other reference materials that aren't available on the Internet. Access is available at any school or library building in Marion County, and to anyone who has a public library card in Marion County.