Executive Bulletin
Economic Leadership and Friends of Acadia
No. 33, November 2008

Dear Friends:

At this writing, the Presidential election is still ahead of us. The country’s new leadership is yet to be determined and the impacts to the financial market from that new leadership and from recent financial aid efforts are yet to be realized.

With recent headlines reading “CRISIS” and dire predictions of more to come, many of us are assessing what the new financial realities mean personally and professionally. At Friends of Acadia, we are fortunate to have a sound, established organization led by a successful staff and talented board of directors and supported by dedicated members and volunteers. Our experienced Investment and Finance Committee is assessing and guiding our investment stewardship in concert with our professional advisors. While Friends’ funds are not unscathed by the downturn in the financial markets, we believe we are positioned to benefit from the inevitable improvements in the market as they occur.

This next year, Friends is committed to maintaining core operations and programs—areas where we have the most impact. Membership donations will fund volunteer programs in Acadia, construction of new village connector trails, preservation and upkeep of the park’s trails and carriage roads, internships that benefit research and education efforts, the Acadia Youth Conservation Corps and other youth programs, Ridge Runners, and more. These programs build upon our collaborative efforts with the park, neighboring communities, and others.

With an eye on the market’s recovery and strong philanthropic support, Friends has goals to build on its successes, enter into new and expanded partnerships that will protect the natural resources in and adjacent to the park, expand our family and youth programs into Hancock and Washington Counties, and accelerate efforts to establish the park as an environmental leader in the National Park System and the country. Now, more than ever, it is important to be creative in our partnerships and collaborative efforts to take advantage of the possibilities before us.

In the midst of change and uncertainty, we are fortunate to have Acadia National Park, one of our greatest national resources, to inspire us to act beyond fear and to establish our legacy for the future.

Friends is grateful to have the dedicated support of members and volunteers like you. Thank you for all that you do to preserve Acadia through your support of Friends of Acadia.

Please feel free to contact us at Friends of Acadia with any questions or concerns.

With warm regards,

Marla O’Byrne
President & CEO

Lili Pew
Chair, Board of Directors

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Positive Economic News

There is some good news for donors over 70 and their favored causes. In October, the Individual Retirement Accounts (IRA) Rollover provision was passed in the Economic Stabilization Act of 2008 (H.R. 1424). The provision is retroactive to January 1, 2008 and will apply to gifts made through December 31, 2009. The provision exempts from taxable income any funds transferred (“rolled over”) from an IRA directly to a charitable organization like Friends of Acadia. The only limitations are:

• the donor must be 70 ½ years of age or older at the time of the gift,
• the annual cap on the rollovers is $100,000, and
• the contribution must be a direct (not planned) gift to a charity.

For more information, or for a list of specific projects your IRA funds can support, please contact Lisa Horsch Clark at 207-288-3340.