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Sponsored by: Harpswell Advisors
September 26, 2019 2019 Giving Guide

Harpswell Capital Advisors, LLC

The economic impact of nonprofits is no fable

Jack Moore, CFA, President of Harpswell Capital Advisors

Few states are as fortunate as Maine to have a nonprofit sector which plays such a central role in the economy, community and our education system. Truthfully, this aspect of Maine differentiates us and defines who we are. Harpswell recognized this unique characteristic of our great state years ago. Indeed, Harpswell was founded with the explicit goal of furthering the impact of our not-for-profit institutions. While Harpswell’s reach has extended beyond the borders of Maine, we remain committed to providing targeted services for nonprofit institutions at a fee level that reinforces our civic foundation.

Our nonprofits have a tremendous impact on the state, with $12 billion in annual revenue, assets in excess of $20 billion and more than $400 million in annual charitable donations. However, sometimes it is too easy to take them for granted. This phenomenon brings to mind Aesop’s Fable titled “The Belly and the Members.” In this classic fable, all the body parts fail to appreciate the central role the belly plays in providing life supporting nutrients to the body and once the belly is gone, they see how everything else goes “to pieces.” Our nonprofits are the lifeblood of our communities. Harpswell recognizes their critical role and will remain dedicated to Maine’s nonprofit institutions.

The Belly and the Members
Æsop’s Fables (Sixth century B.C.)

One fine day it occurred to the Members of the Body that they were doing all the work and the Belly was having all the food. So they held a meeting, and after a long discussion, decided to strike work till the Belly consented to take its proper share of the work. So for a day or two, the Hands refused to take the food, the Mouth refused to receive it, and the Teeth had no work to do. But after a day or two the Members began to find that they themselves were not in a very active condition: the Hands could hardly move, and the Mouth was all parched and dry, while the Legs were unable to support the rest. So thus they found that even the Belly in its dull quiet way was doing necessary work for the Body, and that all must work together or the Body will go to pieces.

At Harpswell, we recognize that the specific needs of every nonprofit are unique. This is why our custom approach is geared towards delivering the services and resources that are most important to you. Having a portfolio that meets your requirements with respect to distributions, sustainability and manageable volatility are paramount. We work directly with each board or executive team to develop the policies that are aligned with your goals.

When it comes to the complexities of managing the investments of non-profit institutions, Harpswell is distinguished by its dedication to serving Maine’s not-for-profit community. Managing endowments is different from wealth management and having a team in your corner who is committed to serving nonprofits makes a lot of sense.

Harpswell values the partnerships we have established with Maine’s nonprofit institutions and our gratitude is reflected in the work we do every day.

Thank you.