Bar Harbor Trust Services offers a number of specialized services that are particularly beneficial to nonprofit organizations. Our services include endowment management, planned giving services, gift processing, gift administration, charitable estate planning, fiduciary services, and fund accounting. Our services are offered individually or as a complete package. Many of our services are offered free of charge to our nonprofit clients. Call us today for a free consultation.
Click the links below for more information about each of these services.
A "Planned Gift" may be any deferred or current charitable gift where the donor's objectives and circumstances are considered in order to provide maximum benefit to both the donor and your organization. Donors are becoming more interested in planned giving as a way to support their favorite charities. Organizations that educate their donors about planned giving and inform their donors of the organization's ability to accommodate planned gifts will benefit from more and larger gifts. Planned gifts often exceed $100,000. Bar Harbor Trust Services offers a program that will help you become more familiar with planned giving and help you attract planned gifts. Our four-phase program is offered free of charge to existing clients.
Your donors may occasionally choose to give investment securities. Donors may have securities that are held in physical form or in "book entry." These gifts can present a number of administrative challenges. We simplify the acceptance, processing, liquidation and investment of these gifts. This can save time, money and frustration. This service is provided "at cost" with no additional fee charged by BHTS.
Some nonprofits establish pooled income funds, charitable gift annuities, or other life income programs only to find that these programs can be complicated, time-consuming and expensive to administer internally. Many nonprofits would like to offer these gift options to their donors but feel they lack the expertise necessary to administer such programs properly. Bar Harbor Trust Services can help you establish and administer these programs efficiently and cost-effectively. In addition, we'll help you attract new contributions with our planned giving program. A fee is charged for this service.
Many donors prefer to support a charity through their will upon their death rather than during their lifetime. According to the American Bar Association, however, 50% to 70% of Americans do not have wills. BHTS can work with individual donors to help them establish an estate plan to protect their family and their assets and help them express their support for your organization through their will. This service is provided at no cost to your organization.
Donors who establish planned gifts often need a professional Trustee to provide day-to-day management and administration for their gifts. Many nonprofits, however, do not have the in-house resources or expertise to provide this service or they wish to avoid the legal and financial liability incumbent upon a fiduciary. Bar Harbor Trust Services can act as a professional Trustee in these situations. We will help your donors establish their gifts, provide day-to-day Trustee services and act as a liaison between you and your donors. This service is provided at no cost to your organization.
Fund accounting allows clients with multiple pools of funds to consolidate these funds for investment purposes while accounting for each fund separately for audit and reporting purposes. This is especially useful for endowment funds that may include restricted and unrestricted gifts, memorial gifts, special use funds, etc. Additions, withdrawals, gains, losses, earnings, fees and more can be allocated to each fund individually or on a pro-rata basis. All information is summarized in an easy to read quarterly report. This service is provided at no cost to your organization.
Bar Harbor Trust Services is a subsidiary of Bar Harbor Bank & Trust. Investment products are not deposits or obligations of the Bank, are not FDIC insured, are not guaranteed by Bank and are subject to investment risk, including possible loss of value or principal amount invested.