Maine Women’s Fund announces transfer of $3 million in assets to the Maine Community Foundation
The Maine Women’s Fund announced it is transferring $3 million in assets and entrusting the pursuit of its mission to make bold investments that transform the lives of Maine women and girls to the Maine Community Foundation. MaineCF will establish two fields of interest funds: the Maine Women’s Fund and the Karen Moran Leadership Fund to further the Maine Women’s Fund grant making efforts.
“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, as a separate nonprofit organization, will dissolve this summer. To maintain continuity at MaineCF, several members of the Maine Women’s Fund board and committees will be engaged in the transition and evolution of the program at MaineCF. An advisory committee, including a majority of women from marginalized groups most affected by gender inequities, will advise the direction of the 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.”
“MaineCF is excited to welcome these two new funds, help grow their assets, and ensure bright futures for Maine women and girls,” said Deborah Ellwood, president and CEO at the community foundation. “Their leadership is so important as we work together to build a better Maine.”
Since 1989, the Maine Women’s Fund has been incubating and investing in nonprofit organizations run by and for Maine women and girls. Through its $3 million in assets, it makes annual financial investments in new and established organizations working towards its mission – to transform the lives of Maine women and girls through innovative programs and advocacy efforts. The Maine Women’s Fund provides financial and technical assistance to the organizations it partners with to build capacity, achieve sustainability, and create space for new generations of women leaders. The Maine Women’s Fund is the only Maine foundation focused exclusively on advancing gender equity. In the past 33 years the Maine Women’s Fund has granted more than 525 awards totaling more than $3 million to 350-plus organizations investing in the power of women and girls across the state and Wabanaki communities.
The Maine Community Foundation, founded with a $10 donation, has brought people and resources together since 1983. Last year, the community foundation awarded nearly $58 million in scholarships and grants to nonprofit organizations and projects. MaineCF just welcomed Deborah Ellwood, its new president and CEO, and is based in Ellsworth and Portland.