File Photo
Jennifer Hutchins, executive director of the Maine Association of Nonprofits
Updated: July 25, 2022
Maine Women's Fund to dissolve, transfer assets to Maine Community Foundation
Thirty-three years after the Maine Women's Fund was launched, the Falmouth-based nonprofit plans to dissolve this summer after transferring $3 million in assets to the Maine Community Foundation to carry on the fund's work.
The Maine Community Foundation will do that via two field-of-interest funds, the Maine Women's Fund and the Karen Moran Leadership Fund. The latter was set up by the Maine Women's Fund in 2015 to honor the late Yarmouth leader.
“Led by a team of talented women, the Maine Community Foundation is an ideal partner,” said Janice Rogers, co-president of the Maine Women's Fund. “With its grassroots, community-based grant programs with a focus on equity and its statewide presence, the organization has long-standing relationships with many of our nonprofit partners.”
The Maine Women's Fund employs only two staff members, an executive director and operations manager. Both "worked tremendously hard with us during the transition and will be pursuing their own opportunities," Maine Women's Fund board member Renée Smyth, of Camden National Bank, told Mainebiz.
Since 1989, the Maine Women's Fund has been incubating and investing in nonprofits run by and for Maine women and girls, as well as providing technical assistance to those organizations.
In total, Maine Women's Fund has granted more than 525 awards worth more than $3 million to over 350 groups across the state and Wabanaki communities.
After this summer, the Maine Women's Fund will cease to exist as a separate nonprofit entity and be known as the Maine Women's Fund at the Maine Community Foundation, which is based in Ellsworth and Portland.
To maintain continuity at Maine Community Foundation, several members of the Maine Women’s Fund board and committees will be engaged in the transition and evolution of the program at Maine Community Organization. In addition, an advisory committee, including a majority of women from groups most affected by gender inequities, will advise the direction of the two new funds and future grantmaking.
“Maine Community Foundation has the philanthropic expertise to help build new relationships with our generous supporters, and offers connections with donor advised funds that will benefit our grantees,” said Gabrielle Gallucci, co-president of the Maine Women's Fund. “Additionally, we are confident the Maine Community Foundation will bring administrative efficiencies that will strengthen and expand the impact of our funding.”
Deborah Ellwood, president and CEO of the Maine Community Foundation, said her organization is excited to welcome the two new funds and hep grow the assets, "and ensure bright futures for Maine women and girls. Their leadership is so important as we work together to build a better Maine.”
'Important responsibility'
Jennifer Hutchins, executive director of the Maine Assocation of Nonprofits, said that Maine Women's Fund's move to dissolve and transfer assets is not unusual, and that it can be very wise to redirect resources when there's potential for greater impact.
"Nonprofit boards have an important responsibility to ensure their resources make the biggest impact in the community as possible," she told Mainebiz. "Sometimes the best choice for the greater good is to merge with others even if it means major organizational change.”
Most Recent
Most Recent
0 Comments