In the Beginning
Concerned individuals in midcoast Maine worked together to create a loan fund when they learned of a local family experiencing homelessness.
In 1992, neighbors in Midcoast Maine learned about a family unable to afford housing and living in the hollow of a nearby bridge. They began organizing support with local faith communities, creating a pooled loan fund that ultimately helped finance more than a dozen new affordable and energy-efficient local homes.
That’s how concerned individuals launched the Genesis Fund—working together from a kitchen table to meet need in their community.
Today, Genesis is a multifaceted, nonprofit Community Development Financial Institution (CDFI) with a footprint throughout Maine and expanding in northern New England.
With know-how built over three decades, Genesis stands on a firm foundation that’s strengthened every day by solid financial performance and a network of active partners who include institutional and individual investors.
Do our kitchen-table roots still influence the way we do business? Absolutely.
As in the beginning, we work with our community partners with kindness, creativity, and determination—meeting people where they are, whether that’s at a vacant building, an empty lot, a historic property, or maybe even a kitchen table.
We keep financial processes known for complexity as simple as possible. Our work removes barriers to opportunity and wealth, to meet communities’ needs and build prosperity.
ABOVE Early Genesis leaders, including Beth McPherson, our first executive director, at the table examining blueprints for one of our first affordable homes.
“When families struggle to pay rent and mortgages, they are at higher risk of instability, eviction, and even homelessness, which is then linked to food insecurity, poor health, lower academic achievement, and more foster care placement among children.”