The Portland Stage Company boasts a long and proud history of providing excellent artistic experiences for people across the region. Along the way, there have been financial ups and downs. One of the highlights of the organization’s financial turn-around was moving its endowment fund to the Maine Community Foundation. In doing so, the Portland Stage Company made a long-term commitment to rebuild its endowment and to never again tap the principal in order to cover an annual deficit.

Since 2002, PSC has returned a January show to its season; added a fourth week of performances for several productions each year; and built its student matinee attendance, consistently reaching over 7,000 students annually. In just the past two years, the company has experienced the three highest regular season revenue producers—Lend Me a Tenor, Almost, Maine and The Foreigner—while the 2004 production of A Christmas Carol hosted more attendees than any prior year.

Part of the organization’s plan for creating real discipline around finances includes a structured, scheduled process for rebuilding its endowment. “Housing our endowment with the Maine Community Foundation was the best way to send the message to our donors that we have a long-term commitment to a sustainable financial situation,” stresses PSC managing director Tami Ramaker.

“As a small nonprofit, we really should not be in the business of handling our own investment funds,” Ramaker states. “It’s a relief to have the expertise of Maine Community Foundation’s investment managers available to us.” The PSC endowment has posted excellent numbers since the transfer to MCF took place in January 2003. “We haven’t had to worry about a thing,” adds Ramaker. “We couldn’t ask for a better relationship than the one we have with MCF.”

                                                             — from MaineCF’s 2005 Annual Report