Purpose of the MAPS Endowment
Organizations like MAPS have historically depended heavily on government grants to provide services. This often causes government contracts to dictate what services are provided to the community. Many other needed services, such as programs for the elderly, children and victims of domestic violence, do not receive adequate government funding. MAPS hopes that, by creating an endowment, the organization will be able to engage in long-term financial planning and develop programs that we have identified as vital to the community. Eventually, these key services and programs will be developed and funded by annual contributions from the MAPS Endowment.
As the Endowment is being built, MAPS has been transformed into an institution that will be there to meet the needs of the community well into the future.
Creation of the Endowment
In September 2002, the MAPS Board of Directors voted unanimously to create an organizational endowment. At the annual meeting of the organization, in October of 2002, the MAPS Endowment was established with the first half of a $10,000 contribution from long-time supporter Bob Perry. Other funds have since been established.
Endowment Management
The MAPS Endowment is managed by the Greater Lowell Community Foundation (GLCF). Through collaboration with GLCF, MAPS assures all endowment donors that their contributions are administered by financial experts and managed with the appropriate objectivity that only a foundation like GLCF can provide.
About MAPS
MAPS, a private, nonprofit, community-based organization, has provided a wide range of health and social services to Portuguese speakers and other eastern Massachusetts residents since 1970.
From its offices in Somerville, Cambridge, Allston, Dorchester, Lowell and Framingham, MAPS offers direct services, advocacy and community development activities that break down cultural, linguistic and other barriers for Brazilians, Cape Verdeans, Portuguese and other Portuguese speakers throughout the service area.
About Greater Lowell Community Foundation
The Community Foundation is comprised of 131 endowment funds created by individuals, families, nonprofit organizations, public agencies, foundations and corporations. Since 1998, the Foundation and its donors have awarded over $1,425,000 in scholarships to high school students, grants to strengthen the organizational capacity of nonprofit groups, distributions from endowment funds established exclusively for or by nonprofit agencies, and donor advised gifts to charitable organizations. The Community Foundation also serves as a convener of people and community institutions to address fundamental societal challenges through special projects and grant programs.