Funding to Diversify Maine's Island and Coastal Economies
The Tom Glenn Fund Community Impact Fund is a community development catalyst fund that seeks to build a more diverse coastal economy through the investment of capital with grants, loans, and equity support for small businesses and community infrastructure projects. The Fund is made possible through a grant from The Wilbur and Hilda Glenn Family Foundation; daughters Rand and Louisa; and wife, Lou, to honor Tom Glenn II and his lifelong commitment to Maine’s island and coastal communities.
Since 2012, we have invested a total of $715,621 in Maine's island and coastal communities—with $523,985 in small business support deployed across 38 businesses and $191,636 in community infrastructure support deployed across 27 communities.
"Strong local economies are the key to long-term resiliency, and the Island Institute is committed to providing not only technical assistance and advisement but funding that will move projects forward."
– Robert Snyder, president, Island Institute
Who is Eligible
The Tom Glenn Community Impact Fund offers grant and loan support for Small Businesses and Community Infrastructure:
- Small Business Support: Professional development grants and catalyst loans to support small business growth. Current areas of focus include: Island and Coastal Small Businesses, Artists and Makers, Aquaculture Businesses, and Lobstering Businesses.
- Infrastructure Planning: Grants and revolving loans for community infrastructure planning. Current areas of focus include: Broadband, Energy, Working Waterfront, and Sea Level Rise.
Island Institute’s grant/loan programs seek to impact the following target beneficiaries in Maine's 120 island and coastal communities:
- Small Business Owners
- Municipal Officials
- Local Leaders
- Volunteer Groups
- Local Nonprofit Organizations
- Artists and Makers
- Electric Cooperatives
- Fishermen and Harvesters
- Seafood Processors and Distributors
How We Work
The Tom Glenn Community Impact Fund supports the Island Institute’s strategic priority, Strengthening Community Economies, with preference given to projects aligned with our 2020 and 2025 impact targets for economically critical community infrastructure and diversification of livelihoods.
How We Measure Impact
Social impact objectives
- Employment generation
- Equality and empowerment
- Income/productivity growth
- Access to information
- Capacity building
- Community development
Enviromental impact objectives
- Energy and fuel efficiency
- Sustainable energy
- Sustainable land use
- Climate change resiliency
Financial impact objectives
- Access to financial services
- Strengthened revenue
- Operational efficiency
- Scalable economic model
Available Funding: Small Business
Grants and loans to support small business growth
The Island Institute provides grant and loan support to small businesses, artists and makers, lobster, and aquaculture projects:
- Professional Development Grants to drive community impact: Up to $1,500
- Catalyst Loans to accelerate growth: $5,000 - $25,000
Available Funding: Community Infrastructure Planning
Grants and loans for infrastructure planning
The Island Institute provides grant and loan support for broadband, energy, working waterfront, and sea level rise infrastructure planning projects:
- Community Energy Spark! Fund for sustainable energy projects: Up to $2,000
- Matching and Recoverable Grants for community infrastructure planning: $5,000 - $15,000
- Emergency/Discretionary Revolving Loans for responsive constituent services: Variable amounts, on occasion, at the discretion of the Fund
Island Institute’s support programs provide a breadth of professional development services that grow with each client:
- Operational support through the Island and Coastal Business Launchpad
- Bookkeeping basics through the Financial Literacy training program
- Training through our Aquaculture Business Development (ABD) program
- Digital Literacy training
- Research, technical assistance, and regulatory support through the Shellfish & Seaweed Aquaculture Project
- Planning support for community members through the Island Institute’s Community-Driven Broadband Process, the ShoreUp Maine sea level rise program, and the Community Energy Spark! program
- Topic-specific leadership training and professional network-building through our Island Leadership Exploration and Development (ILEAD) training seminars
Not sure what type of funding is right for you?
Application for funding
For answers to frequently asked questions concerning the Tom Glenn Community Impact Fund, see our Fund FAQ: Tom Glenn Community Impact Fund FAQ
If you have additional questions not answered here, please feel free to contact us directly.
Funding partners for our small business and infrastructure support include: John T. Gorman Foundation, NorthLight Foundation, Jane's Trust Foundation, Manton Foundation, and Elmina B. Sewall Foundation.
If you are a community partner, mentor, or investor and would like to learn more, please contact us.