The Family Library and its associated Mobile, Home and Schools Services have been saved from pending closure by a charitable foundation.
Long-time supporters, the Scheinberg Family, has gifted the library £250,000 to prevent its closure this summer.
The family will fund its entire operation for 12 months from August.
Chairman of the Family Library, Kurt Roosen, said: ‘We would like to sincerely thank the Scheinberg family which has come to the rescue and provided emergency aid to keep us alive.
‘This is a gift which not only allows us to continue but recognises what we provide is absolutely fundamental and something not available anywhere else in the Island.
‘We hope other charities and businesses can find such benefactors if the Isle of Man Government is unable to provide support in a timely fashion.’
The Family Library also provides a number of fundamental outreach initiatives Island-wide, such as Bibliotherapy.
In 2018, a Tynwald select committee recommended government provides annual funding of £125,000 for two years (matched by the Family Trust). It described the Family Library as ‘a much-valued part of the island’s library provision’ and concluded withdrawal of Government funding would cause a significant issue for the all-Island services.
A working party was then set up to investigate the adequacy, structure and funding of library services in the island, and to report to Tynwald by December 2019.
However, that has been delayed indefinitely and, without the conclusions of that report, the Isle of Man Government is unable to define the nature of its continued support.
Mr Roosen added: ‘It was heartening that the government working party acknowledged the important role the library plays and we were grateful for the support Tynwald approved two years ago to help us operate while the working group carried out its investigation.
‘We have now been fortunate to secure emergency funding from the Scheinberg Family which has decided to extend their original £125,000 annual funding to the full cost of £250,000 for 2020-2021. This is on the basis that these are extreme times where our wellbeing and outreach services may be more required than ever.
‘Hopefully, the breathing space will allow us to re-engage with stakeholders, including with the Government, to assess our longer-term future.’