ELLSWORTH, Maine – The Maine Community Foundation is one of the nation's best at finding ways to build community wealth using new approaches, according to a report released today.

The report by the Maryland-based Democracy Collaborative names the Ellsworth-based foundation one of the Innovative 30.

The report's co-author, Marjorie Kelly, says the Maine Community Foundation is a leader in what's called impact investing.

"And that means not just giving grants, but investing out of their own assets and encouraging their donors to invest out of their assets to put money to work to help communities,” Kelly says. “This is really the holy grail for a lot of people."

Kelly points out a 2008 loan of $1 million to the Maine Farmland Trust to preserve and protect farmland was a successful impact investment.

That led the Maine Community Foundation to the creation of two more similar funds, and by September more than $2.3 million dollars been mobilized for the organization.

"The board of Maine Community Foundation said, 'Well, let's expand our impact investing,’” she relates. “’Let's do more.'

“So they set up two pools, two investment portfolios. One is called Farm, Fisheries and Food – they want to support local entrepreneurs. And there's also Downtown and Business Development."

Kelly adds her report reveals that the work of the Innovative 30 anchor foundations can go a long way toward easing what it calls the nation's staggering wealth inequalities.

"There's a lot of groups and communities thinking, 'How can we begin to reinvent our economies to include the excluded and to sustain ecology and resources for the future?'” Kelly says. “And we find that community foundations are key players in this often, and that's what led us to do this research."






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Higher consumer prices are dominating financial headlines, but an investment trend is making noise. It encourages putting money into causes that provide a social benefit, and this movement gaining steam in Minnesota.

Socially responsible investing is coming off a record year, with nearly $650 billion flowing into these funds.

Casey Shultz - director of investor relations with the Saint Paul & Minnesota Foundation - said in the world of philanthropy, it can mean shifting a portfolio away from fossil fuels to clean energy.

She said it doesn't have to just involve larger institutions. Separately, smaller investors can jump in.

"We're in a really lucky time where there are so many more investment vehicles being offered," said Shultz. "So, there truly is an opportunity for any type of investor - whether that's you as an individual or going all the way up to larger pension funds or other institutional investors. "

On a larger scale, the Foundation recently became the first community foundation in the U.S. to sign on to the Principles for Responsible Investment network, which is backed by the United Nations.

Research has shown this type of investing results in strong financial returns, but some analysts warn to be wary of companies who pledge responsible actions, but fail to follow through.

Shultz echoed the sentiments of researchers who suggest sustainable investing can be a good business decision. She predicted that this will be more of a factor as governments around the world craft policies meant to address climate change.

"We're looking at companies that are forward thinking," said Shultz, "that they see these regulations that are coming and they're like, 'Oh, we better start making investments to address this now so that it's not a huge financial burden down the line.'"

At the end of the day, she said this approach shapes a better future for the nonprofits the Foundation works with. She said they already started going this route before joining the UN PRI movement this spring, pointing to their community investment fund, which accepts individual donations.

A 2020 analysis from Arabesque Partners found that 80% of sustainability business practices have a positive influence on performance.

Ukrainians continue to suffer in their country from the Russian invasion - and in Oregon, credit unions have banded together to send aid to the people there.

Aaron Goff is president and CEO at Clackamas Federal Credit Union. He said he and the heads of other credit unions were inspired after hearing from the Ukrainian ambassador.

"It didn't take long at all for people to jump on board and say, 'Yeah, we'd like to donate, contribute to that,'" said Goff. "And then along the way, we found a few credit unions who had personal connections there - employees that were Ukrainian, or had Ukrainian spouses or family - and of course, they were very motivated to be involved."

Fifteen Oregon credit unions have raised $77,000 for the relief effort. Part of it is going to the Oregon-based organization Mercy Corps, which is providing on-the-ground humanitarian aid in the region.

Relief also is going to the Worldwide Foundation for Credit Unions' Ukrainian Credit Union Displacement Fund, providing support to mitigate the effects on Ukraine's credit-union system.

Goff said credit unions are charitable, but it isn't every day they come together to aid people halfway around the world.

"It's just such a horrific atrocity that's happening over there that we just felt compelled," said Goff. "We felt like we had to do something. I mean, I wish we could do more, I wish there were more funds available. But just very motivated."

Last week, the United States approved an additional $800 million in aid to Ukraine, bringing the total since the February invasion to $2.5 billion.

Philanthropy groups are pointing out a big gap in donations toward groups focused on women's and girls' issues during Women's History Month this year.

According to the Women's Philanthropy Institute, less than 2% of philanthropic dollars go to such organizations, but a different model for giving could help fill the gap.

Giving circles are a collective philanthropy model where people pool their resources and decide which causes to support.

Tammy Wilhoite, co-chair of the coordinating council for the Portland-based giving circle Ninety-Nine Girlfriends, said many circles bring women together because they historically have been excluded from philanthropy.

"People who may not have ever seen themselves as somebody who could invest money in their community are being invited to say, 'Hey, come help us figure out where this money should go,' and your money makes a difference," Wilhoite explained.

Wilhoite pointed out her organization is inclusive of all women, including people who are gender nonbinary and gender-nonconforming, and trans women. She said members of the circle contribute $1,100, $1,000 of which goes into a grant pool awarded to a nonprofit each year.

Wilhoite noted Ninety-Nine Girlfriends recently allocated $90,000 to Constructing Hope, a Portland-based organization training women, people of color and formerly incarcerated individuals for jobs in the construction sector.

"It develops a diverse workforce," Wilhoite outlined. "It helps with long-term unemployment, it helps those people that are impacted by that to develop sustainable careers, it's reduced recidivism, and it's provided people to the construction industry, which never has enough participants."

Sara Lomelin, CEO of Philanthropy Together, a group supporting giving circles worldwide, said circles can be flexible with their funds and most groups are making impacts in their local communities.

"Eighty-four percent of giving circles give locally," Lomelin reported. "So we tend to support those small, grassroots, local nonprofits that are invisible to traditional philanthropy."

Lomelin added there are about 2,500 giving circles around the globe.