Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

Sponsored by: Genesis Community Loan Fund
Updated: September 27, 2021 2021 Giving Guide

The Genesis Fund

2022 Goals

  • Support organizations that are responding to the COVID-19 pandemic, and are helping communities recover from its social, economic, and health impacts. These include food pantries, homeless shelters, health clinics, child care centers, recovery residences, eldercare and affordable housing projects.
  • Provide $10M in loan capital to high-impact affordable housing and community facility projects, with a priority on responding to pervasive and urgent needs: child care, food security, substance use disorder treatment and support, rural housing preservation, and addressing systemic inequities impacting BIPOC communities.
  • Raise $1.1M in contributed revenue and $5M in invested capital to meet the demand for lending in Maine and New Hampshire.
  • Provide 2,000 hours of technical assistance to nonprofits working on affordable housing and community facility projects, including affordable rural rental housing, mobile home cooperatives, supportive housing facilities, child care centers, and projects seeking to address systemic inequities affecting BIPOC communities.

Who We Are

The Genesis Fund is a mission-driven nonprofit lending institution, known as a Community Development Financial Institution (CDFI).

Lending: The Genesis Fund’s driving principle is to “go where others won’t” to provide innovative, patient and risk-tolerant loan capital to fill gaps in financing for projects where conventional lending opportunities are unavailable or insufficient.

In 29 years, we have loaned over $65 million to more than 287 projects, and leveraged $386 million in additional community investment. Our current loan portfolio includes over 90 loans for projects including affordable housing, care and living facilities for seniors and people with disabilities, transitional housing for people experiencing homelessness and those in recovery, child and health care centers, and other essential facilities that help our communities grow and thrive.

Technical Assistance: The Genesis Fund also provides technical assistance to help nonprofit organizations develop and advance plans to build, expand and preserve affordable housing and community facilities. These services include helping to develop project plans, conduct feasibility studies, create financial projections, find additional sources of funding, and write grants.

Giving Opportunities

Contributions: Genesis Fund donations build strength and resilience in our communities by increasing our pool of flexible loan capital, helping to keep our loan products affordable for nonprofit organizations seeking financing to develop their affordable housing or community facility project. Donations also support our ability to offer low- and no-cost technical assistance to organizations working to create and preserve affordable housing, add childcare slots, provide more shelter beds, expand food bank capacity and more. Donations can also be used to leverage additional funding through grant awards and investments, increasing our lending capacity and community impact several times over.

Investments: The Genesis Fund provides a unique opportunity for individuals and organizations to invest in community development projects here in Maine and beyond. Every dollar invested builds our portfolio of loans to create and preserve affordable housing, expand community facilities, and help our communities thrive. As the loans we make are repaid, the funds become available for new projects – and are “revolved” to meet critical community needs again and again. As a result, an investment in the Genesis Fund can support numerous projects over its term.

  • Low minimum investment
  • Fixed rate of return (simple interest is paid annually)
  • Meaningful social impact in local communities
  • 100% repayment of principal since 1992

Staff Spotlight: John Egan, Chief Lending & Program Officer

Photo / Soggy Dog Designs

John joined the Genesis team in 2020. He is responsible for leading the lending and technical assistance programs, as well as spearheading business development initiatives and cultivating key partnerships. John’s 30+ years of community development experience include two decades at CEI, Inc., as a housing developer, lender, and Chief Investment Officer. Previously, John served as Manager of Multifamily Programs at MaineHousing, and, earlier in his career, worked to develop HUD, tax credit, and supportive housing projects in Alaska. For more information about our lending, John can be reached at egan@genesisfund.org.

Leadership

Liza Fleming-Ives, Executive Director
Kyra Walker, Board President: Chief Operating Officer, Community Housing of Maine

Board officers

Rebecca Hatfield, Board Vice President: Senior Vice President of Real Estate, Avesta Housing

Laurie Miller, Board Treasurer: Executive Director, Old Town Housing Authority

Brenda Peluso, Board Secretary: Nonprofit Consultant


Board Members

Diane Donaldson: Team Leader & Senior VP, Commercial Banking, Bangor Savings Bank

Beth Hayward: Vice President, Business Banking, Machias Savings Bank

Shima Kabirigi: Program Officer, Maine Initiatives

Jeff Mosley: Program Lead, National Equitable Development Initiative, Capital Impact Partners

Betty Robinson: Emeritus Professor, University of Southern Maine

Tom Whelan: President, Bath Savings Trust Company

At a Glance:

Established: 1992
Employees: 8
Annual revenue: $3,157,643

Top funding sources

76% Contributed Income
23% Financing Income
1% Other Earned Income

Contact

22 Lincoln St,
Brunswick, ME 04011
(207) 844-2035

https://www.genesisfund.org
https://www.facebook.com/GenesisFund
https://www.instagram.com/company/genesis-community-loan-fund

Mission Statement

A certified Community Development Financial Institution (CDFI), the Genesis Fund provides innovative financing by soliciting investment loans from individuals, faith communities, corporations, and foundations, and then re-lending the money at favorable terms to nonprofit organizations developing affordable housing and community facilities for underserved people and communities throughout Maine and beyond.

Service locations

Maine, New Hampshire and Vermont