Community Legacy Tool Kit

.(JavaScript must be enabled to view this email address) · (207) 581-4521

4 York Village
Orono, ME 04469

Description

This tool kit will provide how-to guidance for communities to establish, capitalize and operate endowment funds to support strategic community economic development initiatives. The tool kit is currently under development and being piloted in Strong, Unity and Rockport. It is expected to be ready for public use late in 2010.

The Community Legacy Tool Kit will include a step-by-step guide on how to establish an endowment fund, including topics such as mission identification, entity choice, governance, fundraising strategies, estate planning tools, fund management and strategic grantmaking. It is associated with MRP's Harness the Wealth initiative and the Realizing Maine's Worth report that has identified the intergenerational transfer of wealth as a tremendous investment opportunity in Maine. If 5% of the estimated $3 billion annually transferring wealth is captured and invested starting in 2010, by 2020 $73 million per year will become available for community economic development priorities.

Stage of Development: Shovel-Ready

Total Budget: $150,000

Additional Funding Needed: $50,000

This initiative is seeking volunteers and/or interns who are excited about their work. Use the information above to get in touch and find out more.

Categories: Community.

Counties: Aroostook, Franklin, Oxford, Penobscot, Piscataquis, Somerset, Washington.

More information is available at this initiative's website.

Last updated by Mary Ann Hayes on November 24, 2009