The Newman Endowment will provide funds for the support of the Springs Business Library through the acquisition of business reference sources and increased electronic access as determined by the head of the Springs Library in conjunction with the University Librarian for Public Services. Each year the donor and honoree will be informed of the fund's progress and of the purchases made with endowment funds by the Business Librarian.

In establishing the Everette H. Newman Library Endowment, Mr. Holman wrote that he intended to honor a mentor and steadfast friend who taught and encouraged me, especially through the example of his own life. Everette Newman cheered me on and admonished me to live by these words: "The next thing I do will be the best thing I do."