Background
The Ram Island Conservation Fund 25/25 Endowment Challenge is designed to promote fiscal and organizational sustainability among Maine’s land trusts. The challenge is being funded by the Ram Island Conservation Fund, a donor-advised fund at the Maine Community Foundation.
The Ram Island Conservation Fund’s advisors believe that endowments build long-term financial sustainability. By building an endowment today, organization leaders and donors are helping to guarantee permanent financial resources for mission-related activities in the future. An endowment fund’s principal is preserved and expanded through an investment strategy that yields revenue, which can be used to offset annual operating expenses or for other purposes.
Program Description
The Ram Island Conservation Fund 25/25 Endowment Challenge is a one-to-one matching opportunity. Land trusts must raise $25,000 in new funds to secure the $25,000 challenge grant, resulting in $50,000 of new or additional endowment dollars. Campaigns should be completed in 18 months.
The program will provide technical assistance to support organizations’ efforts to expand their development plans to include endowment building, major gift solicitation, and planned giving; and build staff and board capacity to identify, cultivate, and secure major and planned gifts.
Participating land trusts will have the opportunity to establish their endowment fund at the Maine Community Foundation or to transfer an existing nonprofit endowment fund to the community foundation, but are not required to do so.
Eligibility Requirements
All applicants must meet the Maine Community Foundation’s general grant eligibility requirements.
Applicants must be Maine-based land trusts that either do not currently have a permanent endowment fund or have existing endowment assets of $250,000 or less.
Applicant organizations must not be experiencing any overwhelming threats to survival (e.g., major financial crisis, major leadership turnover, or significant understaffing).
Organizations should also meet the following criteria:
- Experienced leadership on both the staff and board
- Organizational experience at the staff or board level in identifying, cultivating, and securing significant gifts from donors
- Senior staff and board leadership that values a partnership with Maine Community Foundation and that can commit the time necessary to complete a successful endowment-building campaign
- Full participation from the board as donors supporting the mission of the applicant organization
- An established annual fund process or other fundraising program, including goals set and achieved over the past two to three years
- Preference will be given to land trusts that have been in existence for at least five years.
- Preference will be given to land trusts that serve larger geographic areas (e.g. regional and watershed-based) and that serve areas and communities with more modest financial resources.
How to Apply
Download the application by using the link at the top of this page. Once completed, send it by e-mail to apollien@mainecf.org, as an attachment PDF format. The subject line of your e-mail should be “RAMI 25/25 Endowment Challenge.”
Applications can be mailed to:
Maine Community Foundation
245 Main Street
Ellsworth, ME 04605
Attn: Amy Pollien
If someone other than the executive director submits the application, the executive director must send a separate e-mail confirming support of the application.
We will not accept applications via fax, and we strongly discourage sending applications by postal mail.
When to Apply
E-mailed applications must be received by September 15, 2011. Applications sent by postal mail must be postmarked by September 15. Organizations will get confirmation of receipt of application within two business days.
Award decisions will be made by advisors to the Ram Island Conservation Fund, in consultation with community foundation staff. Successful applicants will be notified in November. The fund's advisors anticipate that up to four challenge grants will be awarded.
Contact
For information about application procedures, contact Karen Young via e-mail or by phone at (207) 351-0112.