The past year has been a busy time here at the Genesis Fund - writing grants for us and our partners. As a result of this work, we are happy to announce that over $2 million in funding has been awarded and will help build affordable housing and community facilities in Maine communities.

Successful Grant Applications in 2009
Genesis Community Loan Fund

$1,000,000 - United States Treasury, Community Development Financial Institution Fund
$329,590 - United States Treasury, Community Development Financial Institution Fund
$124,175 - United States Department of Agriculture Rural Community Development
$100,000 - Corporation for Enterprise Development for Country Village
$30,000 - Corporation for Enterprise Development
$5,000 - Atlantic Residential Resources

Our Partners

$499,845 - City of Saco - Commons Housing, Maine State Department of Economic Development - Community Development Block Grant

In October, a group of Genesis Fund supporters were welcomed to Shalom House by Bill Floyd, Executive Director of the Genesis Fund, to see first hand one of our many projects. Mary Haynes Rodgers, Executive Director of Shalom House explained how the Genesis Fund was a key player in the rehab of their building, which now includes an Art Therapy program for Shalom Clients as well as other services.

Paige Mangum and Sue Hawkes spoke about the Holbrook's Wharf project in Cundy's Harbor - now again a working wharf with 30 jobs being preserved or created. Deb Kellor, from Avesta Housing in partnership with Preble Street talked about Florence House, a new shelter for homeless women in Portland that the Genesis Fund is helping to finance. Click here to see featured photos from the Portland Press Herald.

Investor Anne Gass, and Genesis Fund board chair noted that Genesis Fund projects like these are why she and her family value their support of the Fund. "Now I tell my kids, we helped build this building or this project when we drive around. I know our investment is on going. When the money that is lent out for these projects repaid; it is re - lent to another worthwhile Genesis Fund project. We like knowing that we are making a positive difference in Maine communities now and for future generations."

In 2004, the Genesis Fund, in collaboration with the Maine Sea Coast Mission and the Island Institute with the Maine Community Foundation serving as fiscal agent, launched the Islands Challenge Fund to support island-based community development initiatives. With challenge grants from Jane's Trust the Island Challenge Fund has continue to grow.

The Islands Challenge Fund provided challenge grants and match funds ranging from $5,000 to $25,000 to support housing and community facility projects on Maine's year-round islands.

Since inception, the Islands Challenge Fund has made 11 grants to 8 islands groups on Islesboro, Monhegan, Frenchboro, Vinalhaven, Chebeague, Peaks, Cranberry Isles, and North Haven. This fall, the final grants, from the fund were awarded to Islesboro Affordable Property, Frenchboro Wellness Center, Homestart, and the Cranberry Isles Realty Trust.

Grants were made by a nine-member committee that included island residents. The Islands Challenge Fund has resulted in 17 units of affordable housing and 1 Community Facility in Maine Island communities.

The Genesis Fund fills an important niche by sharing expert know-how, finding additional funding sources, and providing innovative financing to Maine nonprofits. We depend on your annual gift to help subsidize the cost of the assistance we provide these organizations. As demand for our assistance grows, your support will go a long way in helping us create homes, strengthen communities, and promote opportunity for Maine's people.

As the year draws to a close, we are grateful to our donors and investors who have helped us make long lasting change in so many lives during this difficult time for so many - Thank You.

If you haven't given, would you please consider a gift now? Click here for more information about donating to the Genesis Fund, or call 207.563.6073.