We take pride in supporting nonprofit organizations throughout Northern New England, and we enjoy it! We offer the services below individually or as a complete package, and many of our services are offered free of charge to our nonprofit clients.
A "planned gift" may be any deferred or current charitable gift where the donor's goals and circumstances are considered in order to provide maximum benefit to both the donor and your organization. We can help you educate your donors about planned giving to drive more and larger gifts. We also offer an educational program that will help you better understand planned giving and how to attract more planned gifts. Our four-phase program is offered free of charge to existing clients.
Your donors may occasionally choose to give investment securities, which while generous, can present a number of administrative challenges for your organization. We simplify the acceptance, processing, liquidation, and investment of these gifts to save you time, money, and frustration. This service is provided "at cost" with no additional fee charged by Bar Harbor Wealth Management.
Many nonprofits would like to offer pooled income funds, charitable gift annuities, or other life income gift options only to find that these programs can be complicated and time-consuming to administer internally. Bar Harbor Wealth Management can help you establish and administer these programs efficiently and cost-effectively.
Charitable Estate Planning
Many donors prefer to support a charity upon their death rather than during their lifetime. They might do this through their will or a beneficiary designation in their IRA, retirement account or life insurance policy. We can work with your 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 estate plan.
Donors who establish planned gifts often need a professional trustee to provide day-to-day management and administration for their gifts. Most nonprofits, however, wish to avoid the legal and financial liability incumbent upon a fiduciary. We 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.
Fund accounting allows nonprofit clients with multiple pools of funds to consolidate these funds for investment purposes while accounting for each fund separately for audit and reporting purposes. We can help your organization manage the accounting for complicated funds such as endowments with 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. We will document all information and provide an easy to read quarterly report.
We look forward to working with your organization. Contact us to today to see how we can help you.