The Maine Community Foundation recently received notification that it has met the nation’s highest philanthropic standards for operational quality, integrity and accountability. The notice comes from the Community Foundations National Standards Board, a national accreditation organization based in Arlington, Va.
“This is similar to the Good Housekeeping Seal for community foundations,” said Diane Miller, manager, Community Foundations National Standards Board.
The National Standards for U.S. Community Foundations’ program requires community foundations to document their policies for donor services, investments, grant-making and administration. The program is designed to provide quality assurance to donors, as well as to their legal and financial advisors.
“This is critically important to our donors,” said Meredith Jones, Maine Community Foundation’s president and CEO. “When people make a charitable bequest, establish a fund or set up an annuity, they are putting their trust in us. They are counting on us to manage the investment wisely, honor their charitable wishes and, in some cases, provide lifetime income to a loved one. The National Standards confirmation says our house is in order.”
The Maine Community Foundation offers a range of charitable funds, allowing donors to advance a cause such as education or the environment, support an individual organization, provide flexible support for community needs or recommend individual grants. The confirmation also validates the community foundation’s grant-making practices for the nonprofit community.
“Some say it is easier to create wealth than to give money away wisely,” said Eileen Epstein, Maine Community Foundation board chair. “This statement has some truth in it. Grant-making is similar to investing — we need to assess risks, weigh potential gains, diversify assets, monitor performance and operate fairly. When you see the National Standards Seal,” Epstein added, “you can be assured that we are committed to meeting the highest standards for grant-making as well.”
Recent grant recipients include 12 Aroostook County non-profits: Presque Isle — Aroostook County Action Program, Northern Maine Fair Association and Presque Isle Historical and Genealogical Society; Caribou — Cary Medical Center and Halfway Home Pet Rescue; Limestone — Loring Military Heritage Center and Limestone/Caswell Historical Society; Frenchville — Dr. Levesque Elementary School; Portland — Catholic Charities of Maine, to distribute non-perishable food to pantries in Aroostook County; Mars Hill — Northern Lighthouse; Houlton — Friends of Aroostook; and Portage — Portage Lake Historical Society.
The National Standards for U.S. Community Foundations program is the first of its kind for charitable foundations in the United States.
With offices in Portland and Ellsworth, the Maine Community Foundation partners with donors and nonprofits to strengthen Maine communities. For more information, visit www.mainecf.org. The Community Foundations National Standards Board is a supporting organization of the Council on Foundations. Visit www.cfstandards.org for more information.
