NSB Donates $5,000 to the Institute for Family-Owned Business in Portland

PORTLAND—For three decades, the Institute for Family-Owned Business (IFOB) has provided information, resources, and guidance to business-owning families in Maine, enabling them to prosper and achieve their fullest potential.

“The Institute has a vision of a dynamic marketplace where buyers and sellers help each other in growing our local economy,” said Catherine Wygant Fossett, Executive Director of IFOB. “Helping family businesses better understand their unique challenges and how to appropriately address them drives us every day.”

The vision and mission of the Portland-based nonprofit have drawn support from Norway Savings Bank for years, including a $5,000 contribution this month and over $50,000 in recent donations. 

“IFOB helps businesses, large and small, and cultivates business environments driven by passion and optimism,” said Dan Walsh, President and CEO of Norway Savings. “Through consulting, seminars, and other approaches, IFOB has assisted hundreds of businesses in sustaining a successful family enterprise.”

Among the many educational programs and networking opportunities offered by IFOB are peer affinity groups, peer advisory groups, online and in-person events and seminars, and the annual Maine Family Business Awards event which is set for November 19 at Thompson’s Point.

“We appreciate that NSB understands how crucial it is to have a comprehensive resource like IFOB to connect businesses and help them meet their needs,” said Wygant Fossett.

To learn more about IFOB, its programs and events, and the impact it makes in Maine, visit the organization’s website at www.fambusiness.org.