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Hard Times Fail to Undermine Maine Philanthropy

Foundations fund at about the same levels as last year, but see a trend toward smaller requests.

November 17, 2009 By Beth Quimby

November 16, 2009, Maine Today — A year ago the Maine Community Foundation, one of the state's largest philanthropic enterprises, was preparing for hard times ahead.

With the stock market crashing and a global recession strengthening its grip, Henry Schmeltzer, who was then the executive director, watched the foundation's endowment tumble and predicted that giving could decline by $1 million.

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