the peaks island fund - Maine Community Foundation

MAINE COMMUNITY FOUNDATION
FUND STATEMENT
January 1, 2006 to December 31, 2006
Peaks Island Fund
Funding Type: Advised
Spending Type: Invested/Income and Principal
FUND ACTIVITY
Beginning Balance as of: 1/1/2006. . . . . . . . . . . . . 47,671.22
Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,096.14
Investment Activity
Interest and Dividends . . . . . . . . . . . . . . . . . . . . . . . 858.33
Realized and Unrealized Growth Net
of Investment Management Fees . . . . . . . . . . . . . . 5,473.80
Fundraising Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Other Revenues and Grant Refunds . . . . . . . . . . . . . . . 0.00
Disbursements
Grants and Scholarships . . . . . . . . . . . . . . . . . . . (10,500.00)
Special Program Expenses. . . . . . . . . . . . . . . . . . . . . . . 0.00
MCF Administrative Fees. . . . . . . . . . . . . . . . . . . . . (605.00)
Fundraising Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Transfers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,000.00
Ending Balance on: 12/31/2006. . . . . . . . . . . . . $167,994.49
GRANT BUDGET SUMMARY
Beginning Balance for Distribution . . . . . . . . . . . 12,080.25
Grant Budget for 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Grants Paid in Current Year . . . . . . . . . . . . . . . . . . . (10,500.00)
Other Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Grant Refunds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Transfers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000.00
Gifts and Fundraising Rec’d for Distribution . . . . . . . . 2,046.14
Transfer from Investment . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Transfer to Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Special Program Expense . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Available for Distribution 12/31/2006 . . . . . . . $18,626.39
Grant Budget for 2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Total Available: 1/1/2007 . . . . . . . . . . . . . . . . . $18,626.39
THE PEAKS ISLAND FUND
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Connecting People Who Care with Causes that Matter.
PEAKS ISLAND
FUND DONORS
Deborah Orifice
Tom and Anne Snyder
Stephanie and Paul Castle
Patty and Bill Zimmerman
Jim Lausier
Mark Shain and Tori Morrill
Stuart and Janet Dye
Gene and Kay Taylor
M/M Roger Merrow
M/M John Powell, Jr.
State of Maine Harbormasters
M/M Sally Whitman
Mike and Nancy Beebe
Munjoy Hill House Fund
Phil Munn
M/M Stephen Carpenter
Nancy and Bill Flynn
Michael and Martha Morris-Gibson
Annie and Victor Romanyshyn
Robin and Larry Walden
M/M Richard Busby
Ingrid and Gunnar Elofson
M/M Raymond Gross
Bill and Elaine Jones
Charles Lane
Lizjohn Inc.
Kim and Steve MacIsaac
John and Kathryn Zimmerman
Patty Kilmartin
Castle Kitchens
Bob and Claire Dahl
Jane and Richard Hersey
Portland Professional Firefighters
Alicia Kershaw and Peter Rose
Randall McVane Post 142 VFW
John Freeman and Monica Stevenson
Matt and Kelly Hurley
M/M Charles Enders
Peg and Art Astarita
Roxanne and Jeff Marks
Chris and Mere Roberts
Jay and Jo Anne Abraham
R.M. Davis Inc.
Ella Mae and Dean Eastman
Julie Kilmartin
Fifth Maine Regiment
The Cockeyed Gull
2007 ANNUAL REPORT
THE PEAKS ISLAND FUND
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Connecting People Who Care with Causes that Matter.

07-PIF-002.2007 Annual Report 8/7/07 8:53 AM Page 3
THANK YOU…
…for taking the time to look over
the annual report for the Peaks
Island Fund (PIF). We believe that
the more you learn about how this
fund works for the benefit of the
entire island, the more you and
your families will want to
become a part of this effort.
The PIF is Peaks’ way of
supporting the good
work of island charities
each year. But more
importantly PIF has
created a permanent
endowment to make certain there
will always be funds available to
respond to the emerging needs of
the island and its residents for
generations to come.
It is vital for all island residents to
know that this fund is their
opportunity to contribute to the
future of Peaks Island. Our goal of
raising $5,000,000 in 10 years will
create an annual sum of
approximately $250,000 to
support programs that will allow
this island to do more than
simply survive… it will afford
Peaks Island the financial
wherewithal to thrive and
grow as a healthy, well
educated, diverse
community.
The way this will happen
has been demonstrated
successfully in towns and
cities across America. Living
contributors have created
charitable funds like PIF for
their home towns, funds ranging
from $10,000 to $10 million.
Other donors choose to create
gifts in their wills that leave
portions of their estates to the
Peaks Island Fund. Gifts, large and
small, are merged to become a
perpetual source of dollars for
charitable work. In addition to the
permanent funds, individuals and
families provide annual
“pass through” gifts that
are distributed each year
to worthy programs in
the community. Local
residents evaluate
grant requests to
determine
how those
funds will
be distributed among
the island’s charitable
organizations, and they
monitor the pulse of the island to
determine whether there are
other needs that should be
addressed to avoid more serious
issues down the road. Local
residents raise the funding
from local
residents
The Peaks
Island Fund
connects people
who care with
causes that
matter.
STATUS
OF ANNUAL GIFTS
AND PERMANENT
ENDOWMENT
to support the needs of the
community as determined by local
residents…sounds just like selfreliance,
a trait admired mightily in
Maine.
If you would like more
information on how you
can contribute to the
long term health and
well-being of Peaks
Island, please contact
PIF committee members
Reta Morrill, Nancy
Flynn, Brenda Buchanan, Perry
Sutherland, Jim Lausier, Kathy
Hurley, Isaiah Oliver, Phyllis
Weintraub, Macy Orme or Bill
Zimmerman. The PIF is also
anxious to have your opinions on
emerging needs of the island that
might be considered for grants in
the future.
Annual gifts to the Peaks Island Fund for pass through to Peaks
Island charities reached record levels in 2007. The generosity of
those donors listed on page 4 has grown our annual awards amount to
$20,000 for this year.
At the same time, contributions of stock and memorial funds have continued
to grow the permanent fund for Peaks Island. That perpetual source of
income for island charitable needs has reached almost $200,000 with most
recent gifts (some of which are not reflected in the 2006 financial report).
More and more residents of the island are recognizing that they can afford
to leave small or large contributions to the Peaks Island Fund through
simple adjustments to wills and estate plans. The simple process allows
donors to contribute money that will remain in a permanent fund for
responding to the needs of this island community into the future.
A rotating committee of islanders will annually review grant
requests from the island’s non-profits, select and fund
those requests that best respond to the
changing character of the island.
MATCHING CHALLENGE TO COMMUNITY
Some exciting news has been announced by one family on the island. For the next three years these
anonymous donors have agreed to match dollar for dollar whatever amount is raised by the island for annual
grants and contribute that amount to the permanent endowment fund. For example, gifts of $30,000 in
2008 will result in another $30,000 going into the permanent endowment, the source of funding for future
generations of Peaks Islanders. The PIF is most grateful to this donor for inspiring the island to rise to the
challenge of growing the Peaks Island Fund.
MEMORIAL FUNDS
The Peaks Island Fund is pleased to create a new category of recognition in this year’s annual report. For
the past several years gifts have been made to honor the memory of loved ones who have passed away. PIF
will annually publish that list as a perpetual reminder to friends and family of the good works of former
islanders and visitors.
Dot and John J. Flynn Dot Curran Donald C. Thompson
Kathryn Wolf Zimmerman Catherine Hannigan Walter Krause
Christina Winter
2007 GRANTS AND DESCRIPTIONS
• Brackett Church has been awarded $2,000 to
support their efforts to install an audio system for
the hearing impaired.
• The Fifth Maine Regiment Museum has received a
grant of $1,500 for support of an educational
program collaboration with Peaks Island School,
and $1,800 for a Student Intern Program at the
museum.
• The Peaks Island School and its PTO has been
awarded $1,500 for its collaboration with the Fifth
Maine, $1,000 for a literature enrichment
program, and $400 for its French Club.
• The Peaks Island Children’s Workshop has been
granted $1,894 for a nutrition program.
•HomeStart, the Peaks Island affordable housing
initiative, has been awarded $5,000 for support of
a challenge grant from the Genesis Fund, project
support, and $2,000 to support the Island Fellow.
• The Peaks Island Tax Assistance Fund has received
$500 for start up administrative support.
• The Peaks Island Non-Profit Coalition has been
granted $1,800 for a promotional support booklet
and additional marketing of the island non-profits.
TOTAL: $19.394
2006 PIF GRANT AWARDS
Peaks Island Tax Assistance ..............................$500...........Establishing Charitable Status
Friends of TEIA..............................................$1,000...........Summer Camp Program
Peaks Island Children’s Workshop.................$1,500...........Island Rovers and Development
Peaks Island Elementary School.....................$1,500...........Artist in Residency Program
Peaks Island Land Preserve............................$1,000...........Island Fellow Support
Collaboration Grants .....................................$4,500...........Needs Assessment and Anti-Litter Plan
Total.......................................................$10,000
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