Report to the Community

Transcription

1 Report to the Community I n v e s t i n M a i ne

2 Welcome to the Maine Community Foundation s annual report to the community. The foundation is a complex organization with many moving parts. Consider this report an introduction to our universe, where donors and nonprofits connect to make a difference in Maine. MaineCF strives to make the most impact with its resources, relying on donors and nonprofits for inspiration and direction. In 2009, grants and scholarships totaled $16.5 million, an impressive number that nonetheless tells only part of the story of the power of philanthropy in Maine. This report highlights the most important element of our work: the communities of Maine. A lot more information for donors, nonprofits, professional advisors, and students appears on our website, but we re more than an online resource. Give us a call, drop us a line, or stop by. Let us know what your hopes and dreams are for Maine. Meredith H. Jones, President & CEO Anne O. Jackson, Chair, Board of Directors Maine Community Foundation 245 Main Street Ellsworth, ME One Monument Way, Suite 200 Portland, ME (toll-free) info@mainecf.org I n v e s t i n M a i n E ~ S t r e n g t h e n i n g A Healthy Environment Promoting collaboration Involved Citizens Encouraging civic engagement An Educated Workforce Increasing the number of college-bound Mainers Strengthening Maine Communities MaineCF serves donors and partners with nonprofits to strengthen Maine communities Local Leadership Motivating Maine citizens Thriving Communities Supporting economic development Inspired Philanthropy Assisting donors with charitable goals

3 Giving Back, Family-Style Richard and Carolyn McGoldrick were considering setting up a family foundation when their attorney suggested they speak with the Maine Community Foundation about a donor-advised fund. This alternative proved beneficial: the couple traded annual IRS reporting requirements and administrative details for a streamlined process. They also preserved the part of their vision that would enable them to engage their daughters in the concept of giving back. Philanthropy is a learned behavior, Carolyn states, and authentic learning takes practice. Daughters Katherine McGoldrick Urbanek and Meghan McGoldrick are full voting members. Each gift must be unanimously approved, Dick reports, and we encourage Kate and Meg to propose candidates. One of Kate s suggestions was the Tanzanian Children s Fund. She had been to Tanzania and witnessed the poverty and lack of educational opportunities. She spoke to the fund s board chair about greatest needs. We funded the purchase of desks and uniforms, she recounts, and made an unrestricted gift to the orphanage. Meghan proposed funding a turf soccer field at North Yarmouth Academy. A life-long athlete, she wanted to honor her dedicated coach, Jeff Thoreck. It was nice to be able to give back to a school that had given so much to me, says Meghan. The family s grants focus on their community, children in need, and providing educational opportunities for young people. My wife and I came from modest backgrounds, Dick relates, and we were fortunate to have parents who believed in the value of a college education and were willing to sacrifice for that. Giving back with time, talent, and treasure is a concept we live by, says Carolyn. Our family fund is a way to engage our daughters in carrying on that legacy. c o m m u n i t i e s, b u i l d i n g l e a d e r s h i p l Nonprofit Partners The Maine Community Foundation relies on nonprofits to help fulfill its mission of building strong and vibrant communities in all corners of the state. Their dedication to quality of life and place, to education, health, the arts and environment, youth and literacy, is the inspiration for our work. At the same time, MaineCF is committed to helping nonprofits achieve greater effectiveness and stability. Last year, in response to the recession, the foundation teamed up with Common Good Ventures, the Institute for Civic Leadership, Maine Association of Nonprofits, Maine Health Access Foundation, Maine Network Partners, and several United Ways to address pressing issues of nonprofit stability. The success of the first viability clinics has led to a broader effort in The foundation also seizes opportunities that support the greater good of Maine citizens. In October 2009, we joined the Good Shepherd Food-Bank and the Maine Public Broadcasting Network in a campaign to feed families across the state. MaineCF champions cooperation and networks. There is strength in numbers.

4 The Gift of Summer Camp Four Ways to 1. Name your passion. Thinking about starting a family or corporate foundation? Find out why a donor-advised fund, named or anonymous, may be a taxadvantaged and convenient alternative. A scholarship, a fund to support a favorite organization or a particular cause there are many ways to partner with MaineCF to fulfill your passion through philanthropy. 2. go local, regional, statewide. Strengthen communities by supporting MaineCF s statewide grantmaking or one of our county and regional funds. Your gift is pooled with others to fund nonprofits in a wide range of fields across Maine. Volunteer community leaders help us make the most of these grant dollars. C amp this year was amazing, Greta Brown wrote to the Maine Community Foundation. Reporting on her experience at Wavus Camp for Girls in Jefferson, Maine, she described paddling the Allagash Waterway. It was an experience unlike any other. I learned about leadership, LNT [Leave No Trace], responsibility, and kindness, all thanks to you. Well, actually, thanks to Joey and Carol Donnelly of York Harbor and their children. They set up the Tenny Donnelly Fund for Youth Enrichment at the foundation to honor two of their daughter s favorite things: camp and Maine. Summer camp is so important for kids, says Joey, pointing to the learning that takes place and how campmates often become friends for life. They gain self-confidence and learn about teamwork and perseverance. The Donnellys chose MaineCF because of its excellent investment performance, but also for its expertise. Says Carol, The foundation has the networks to make the most of this opportunity. And they love receiving the occasional thank-you note, forwarded by MaineCF staff, from young people like Greta Brown. The pleasure of providing these opportunities is far greater than we ever expected, Carol states. Her words echo Greta s: Thanks to MaineCF, this fund has developed into a wonderful experience. 3. Help us lead. The foundation is involved in a number of ambitious Maine-wide activities that include promoting community economic development, environmental stewardship, higher education, and civic engagement. Learn how you can help support these efforts in the For Maine section at For a complete list of competitive funds with guidelines and applications, visit the For Nonprofits section of I n v e s t i n M a i n E ~ S t r e n g t h e n i n g l An Educated Workforce Maine has one of the top high school completion rates in the country, yet only 50% of its students go on to college and fewer still graduate with a degree. If the state is to be competitive, it is crucial that more Maine workers obtain higher education. MaineCF is addressing this issue through the more than 400 scholarship funds it manages and by supporting the Maine Compact for Higher Education, whose mission is to increase enrollment in colleges, universities, and technical schools. The Maine Employers Initiative, a part of the Compact, encourages businesses to take one more step in encouraging educational aspirations. Mobius, Inc., in Damariscotta, which serves people with disabilities, was honored by the Initiative for its Life Long Learning Account college savings plan, an employer-matched payroll deduction that pays into an education savings account. Launched in 2009, the program now boasts nine employees with active accounts, seven of whom are taking classes.

5 Invest in Maine 4. Give to the future. We can help you shape a legacy that will support the causes you care about while providing financial and estate savings at the same time. You, in turn, through your bequest can help MaineCF build a flexible endowment that will enable us to address changing needs in Maine. At MaineCF, we offer many options for giving, and we can help you create a plan that fits your situation. Explore the For Donors section of our website or contact us for a confidential consultation. Engaging a Community of Color Fields of interest Thanks to donors, foundations, and businesses, MaineCF administers 18 different competitive grantmaking programs that focus on an array of interests ranging from libraries to land conservation. Some of these funds are county- or regionbased, others statewide. All seek proposals that recognize, and build on, the strengths and assets of a community. A sampling of field-of-interest funds at MaineCF: Edward H. Daveis Benevolent Fund to benefit nonprofits serving the greater Portland area Equity Fund to strengthen lesbian, gay, bisexual, transgender, and queer organizations in Maine Hospice Fund to support hospice services in southern Maine Leonard & Renee Minsky Fund for Arts Education to encourage teachers in grades three through five in Washington and Penobscot Counties to bring the arts into the classroom Maine Theater Fund to sustain theater performance throughout the state People of Color Fund to assist people of color in Maine achieve greater equity Rose and Samuel Rudman Library Trust to help libraries better serve Maine communities with populations of less than 10,000 In 2009, MaineCF s People of Color Fund awarded grants to support a creative civic engagement project that united two of Maine s most important Latino organizations, Centro Latino and Tengo Voz. Centro Latino is a Portlandbased organization dedicated to improving social justice for Latinos through community activism, organizing, and a focus on legal and other institutional barriers to equality. Tengo Voz is a grassroots group dedicated to helping Latinas address critical needs in their community. These organizations are led by, respectively, Blanca Santiago and Reverend Virginia Marie Rincón. These two dynamic, entrepreneurial women are widely recognized for effective leadership in the greater Portland community, as well as among communities of color statewide. This collaboration will increase community engagement and build leadership and problem-solving skills within the Latino community, says Lisa Sockabasin, chair of the People of Color Fund committee. Part of the plan is to advise and support the Basé, the Latina members of Tengo Voz, who serve as community outreach workers. The Basé will use this training to help increase access to transportation, health care, housing, employment, and legal assistance, notes Santiago, and in the process they will gain the experience needed to assume more leadership responsibilities within Tengo Voz. These grants underscore MaineCF s commitment to civic engagement, which, in this case, will lead to greater social justice and self-determination within the Latino community. c o m m u n i t i e s, b u i l d i n g l e a d e r s h i p l Involved Citizens Mainers of all ages are encouraged to get involved with their communities and their state through a number of programs, among them the Encore Leadership Corps, which provides training for experienced Maine adults, and the Maine Policy Scholars program, which engages University of Maine students in shaping public policy. MaineCF s Community Building Grant Program is another expression of our commitment to civic involvement. Volunteers review grant proposals and make recommendations based on their knowledge of community needs and issues. Habitat for Humanity/7 Rivers, located in Bath, has received support through the program, most recently for a community-based home repair and weatherization program.

6 A Model Merger Last summer, two land trusts in eastern Maine, Great Auk and Quoddy Regional, decided to join forces. Founded in the late 1980s, both trusts shared a mission of conserving land in coastal Washington County. Their move toward merging began when they became members of the Downeast Land Trust Collaboration, a partnership that included Maine Coast Heritage Trust, The Nature Conservancy, and the Downeast Salmon Federation. In exploring administrative efficiencies and joint fundraising, among other topics, the two trusts recognized the benefits of becoming a single entity. The new venture, Downeast Coastal Conservancy, holds permanent stewardship for 4,052 acres and 42.5 miles of shoreline. They have expanded their outreach efforts through community involvement, volunteerism, and guided educational outings. MaineCF grantmakers saw the wisdom of the merger, and the Washington County Fund, King and Jean Cummings Fund, and Fund for Maine Land Conservation provided support. The Great Auk Land Trust also completed a $25,000 endowment challenge grant made by the foundation as part of its 25th anniversary. Our mission is to conserve the natural habitats and resources of the watersheds and communities of coastal Washington County for present and future generations, says Tom Boutureira, the conservancy s executive director. That mission just became more achievable, thanks to new ways of thinking. Legacies for Maine Each legacy gift reflects an individual s circumstance and passion. For Benjamin A. G. Fuller of Cushing, Maine, a family inheritance led him to establish a charitable gift annuity (CGA) at the Maine Community Foundation. The CGA will provide income to Fuller and his wife, Leslie, during their lifetime, and then become a charitable endowment for cultural programs in Maine. He considers this endowment a way of giving back to his family s home state. As curator of the Penobscot Marine Museum in Searsport, Fuller knows how difficult it can be to find permanent support for a cultural institution. It s supporting something that does not necessarily have immediate measurable payback like human services, he notes. Setting up a bequest, he explains, represents a decision to do something the results of which you won t see. You might say it takes a special faith to invest in the future. MaineCF received 17 new bequests or planned gifts in For a complete list of Legacies for Maine members and to read Faces of Philanthropy profiles, visit mainecf.org/ annualreport. aspx. Gift Planning The Maine Community Foundation can assist you in shaping a legacy while meeting your personal and financial goals. You can arrange to establish a charitable fund in the future or set up one during your lifetime. You may enjoy personal benefits, such as the opportunity to engage family members in philanthropy; income, estate, and capital gain tax savings; and administrative efficiencies. Learn more at I n v e s t i n M a i n E ~ S t r e n g t h e n i n g l A Healthy Environment MaineCF addresses environmental issues in Maine using a range of resources. Grant support is provided through designated, nonprofit, and donor-advised funds as well as through the Fund for Maine Land Conservation, which helps land trusts be more effective. On a larger scale, in partnership with the Maine Philanthropy Center, MaineCF oversees the innovative Environmental Funders Network. The network s goal is to help identify and create ways to improve and sustain Maine s natural environment. Last year, through its Quality of Place Initiative, the EFN made grants ranging from $30,000 to $100,000 to eight nonprofits across the state. One grantee, Mapping Our Footsteps, is using GIS and GPS technology to bring youth and adults together to map their county s hiking trails, recreational sites, and points of cultural and historic interest. Through this work, multiple generations are engaging in the care of their environment and deepening their connection to culture and community.

7 We are continually inspired by the creativity of our donors. Thanks to them, MaineCF now manages nearly 1,400 funds, with 50 established in These new funds run the gamut of purpose and passion, from supporting a nonprofit to endowing a scholarship. Restoring History and a Hub Here is a small sampling: New Funds Auburn Public Library Endowment Funds Four endowment funds (restricted, unrestricted, capital reserve, and operating reserve) to support one of the largest public libraries in Maine Coastal Heritage Fund II A field-of-interest fund providing support to programs that tackle the causes and results of poverty and address environmental issues Mainebiz Next List Alumni Scholarship A designated fund that will provide scholarship assistance to third- or fourth-year students at the University of Maine pursuing a business degree Bettie H. MacRae Fund A memorial scholarship fund supporting year-round residents of Islesboro, age 23 and older, to pursue career-related post-secondary education Meander Fund A donor-advised fund set up by a couple in Aroostook County to carry out their philanthropic interests Stowe Mountain Easement Stewardship Fund A designated fund providing permanent support for the Grafton Notch-Stowe Mountain conservation easement For a complete list of new funds, visit Downtowns are central to the economic, cultural, and civic fabric of many of Maine s communities. They attract residents and visitors seeking a mix of amenities, cultural enrichment, and a sense of community. Historic buildings often act as hubs for these activities and ambience. The Johnson Hall Performing Arts Center in the heart of Gardiner exemplifies such a hub. Built in 1864, the hall originally presented live shows and entertainment and later became a movie palace. After lying mostly dormant for 30 years, the hall was resurrected as a year-round venue. The first floor now features an accessible 110-seat performance space where arts programs for all ages are offered: live music, theater and dance performances; theater and art camps for children; teen band shows; and workshops and classes for children and adults. The center also partners with the Boys & Girls Club and local schools to bring arts and theater programs to children. We are a resource to the entire Capital region, as there is not another community arts center like us in the 20-town area, says Executive Director Judy Lloyd. About 5,000 people attend events and shows each year. The center has received support for its restoration effort from a range of sources, including MaineCF s Belvedere Fund for Historic Preservation. The greater Gardiner community is now engaged in a planning process to return Johnson Hall to its full glory, including a 400-seat theater and conference center, which will provide further cultural enrichment and a significant boost to the regional economy. c o m m u n i t i e s, b u i l d i n g l e a d e r s h i p l Thriving Communities Active downtowns, locally available resources, a sense of heritage, and pride of place are some of the components of a thriving community. MaineCF helps to build such communities through its support of historic preservation and sustainable local agriculture. The preservation and restoration of historic buildings can serve as a catalyst to bring business to downtowns. Preserving farmland is key to maintaining Maine s special landscapes and supporting local food production, both of which drive economic development and build healthier communities. MaineCF donors have committed $1 million to Maine Farmland Trust s Buy/Protect/Sell program. The trust buys farmland, places easements on that land, and sells it to new farmers. The foundation has also provided support for the trust s FarmLink program, which connects aspiring farmers to existing farmers, thereby keeping Maine s farmland in farming. Other MaineCF grants support agriculture-based activities, from farm-to-school programs to community gardens.

8 MaineCF Board of Directors OFFICERS Anne O. Jackson Yarmouth, Chair Eileen M. L. Epstein Portland, Vice Chair William H. Kieffer, III Bethel and Boston, Treasurer Elisabeth C. Heyward Mount Desert, Secretary DIRECTORS Stephanie A. Bunker Dover-Foxcroft Jean M. Deighan Bangor David C. Dixon Strong Sandra Featherman Kennebunkport Brian N. Hamel Presque Isle Meredith Jones Belfast, ex officio Donna M. Loring Bradley Elizabeth Neptune Princeton Betty D. Robinson Auburn Peter Rothschild Islesboro and New York City Mary Polly Saltonstall Camden George T. Shaw Newcastle Kenneth S. Spirer Portland Dighton Spooner Brunswick Anne L. Vartabedian Southport Wendy J. Wolf West Boothbay Harbor PRESIDENT & CEO Meredith H. Jones Belfast For a complete list of staff, visit mainecf.org/aboutus.aspx For production and photo credits, visit mainecf.org/annualreport.aspx Cover: Maine Sea Coast Mission s EdGE afterschool and summer program for children in Downeast Maine. photo: BILL KUYKENDALL F i n a n C I a l S u M M a r y As these highlights demonstrate, the Maine Community Foundation gained significant ground in 2009 as markets started to recover from the recession. At the same time, despite reduced grant budgets, MaineCF donors increased their giving by nearly $1 million over the previous year. Assets Donor-advised funds $83,472,576 $68,974,640 Endowment funds held for other nonprofit organizations 26,145,594 18,252,505 Funds designated to specific organizations 35,398,220 28,244,937 Field-of-interest funds 47,610,758 41,596,998 Scholarship funds 25,665,434 20,960,957 Charitable gift annuities and other planned gifts 7,270,886 3,100,106 Special programs 644, ,252 Supporting organizations 1,754,642 1,550,365 Operations 832, ,204 Total Assets $228,794,868 $184,223,964 Gifts Received and Additions to Endowment Funds Donor-advised funds $10,011,375 $8,409,211 Endowment funds held for other nonprofit organizations 4,285,742 5,941,997 Funds designated to specific organizations 1,822,950 1,247,996 Field-of-interest funds 1,777,632 1,402,882 Scholarship funds 2,239,322 2,471,146 Charitable gift annuities and other planned gifts 3,368, ,735 Special programs 276, ,224 Supporting organizations 30 1,645 Operations 11,350 6,105 Total Gifts and Additions to Endowments $23,793,498 $20,304,941 Grants Paid and Distributions from Endowment Funds Donor-advised funds $8,857,051 $7,419,626 Endowment funds held for other nonprofit organizations 918, ,071 Funds designated to specific organizations 1,920,607 2,879,211 Field-of-interest funds 3,058,570 2,207,719 Scholarship funds 1,585,931 1,804,449 Supporting organizations 124, ,900 Other grants 103, ,736 Total Grants and Distributions from Endowments $16,568,150 $15,680,712 The 2009 audit was not complete at the time of printing of this report. If you would like an audited financial statement, please contact Vice President and Director of Investments Jim Geary by , at jgeary@mainecf.org, or by phone, at You can also visit to view audited financial statements and tax returns, and to learn more about our investment program. Investment Performance MaineCF investment results reflect the U.S. and global economic upheaval that began in We continue to work closely with our investment advisors and managers, monitoring the markets while focusing on long-term goals for investment performance. 35% 245 Main Street Ellsworth, ME One Monument Way, Suite 200 Portland, ME Phone Fax: I N V E S T i n M a i n e Confirmed in Compliance with National Standards for U.S. Community Foundations Average Annual Compound Returns 30% 25% 20% 15% 10% 5% 0% -5% -10% 25% 23% 26% 2% -1% -6% 1 Year 3 Years 5 Years 10 Years *From 12/31/1993 to 9/30/2005 the benchmark was 55% Wilshire 5000 Index; 30% Lehman Brothers Aggregate Bond Index; 15% Morgan Stanley Country Index World except U.S. Starting 10/1/2005 the benchmark is 35% Wilshire 5000; 15% MSCI World ex U.S.; 5% MSCI Emerging Markets; 10% Real Assets Blend (30% DJ REIT Index, 25% Goldman Sachs Commodity Index, 25% MSCI World Natural Resources Index, and 20% LB U.S. TIPS index); 20% HRFI (Hedge Fund Research Inc) Composite; 15% Barclays Capital Government Bond Index MaineCF Investment Strategy The MaineCF portfolio is highly diversified, which helps to maximize investment returns at acceptable levels of risk. Our asset allocation reflects the expertise of an investment committee with many years of experience. Real Assets 6% Fixed Income 13% Cash 3% 6% 3% Maine Community Foundation Benchmark* S&P 500 (reference only) 0% 6% 3% U.S. Equity 28% -1% fsc logo penmor will place Printed with vegetable-based ink on Green Seal Certified and Green E Certified paper manufactured with 15% post-consumer waste. Marketable Alternatives 21% Private Equity Venture Capital 4% Additional financial and investment information is available at mainecf.org/financials.aspx Foreign Equity 25%