BANGOR, Maine — High inflation and the rocky economy have hit several families, businesses, and nonprofit organizations across the country.
Local nonprofit organization 19th Century Curran Village Museum in Holden and Orrington is struggling to stay afloat, museum director Robert Schmick said.
The museum brings history and artifacts to central and northern Maine communities, but Schmick said private donors and private businesses that supported the nonprofit in the past are not donating money to the organization the way they used to.
Schmick said since the recent changes in the economy, people think twice before they spend their money.
"Our economy is a question mark," Schmick said. "I think people are more cautious about donating money to the museum, and we have had less donations than previously."
Senior Portfolio Manager at Birchbrook financial advisory firm Brett Miller said big spikes in the price of goods since the pandemic made it hard for businesses and nonprofits to operate.
Miller said investors had a tough year in 2022, but things are looking good this year.
"The good news is that those prices seem to be settling down," Miller said. "Some of the supply chain issues seem to be working out, and things are coming back to a slightly more normal level. Inflation is running well under half of what it was this time last year."
Miller lends businesses, investors, and nonprofits a bit of advice, suggesting that they keep money on hand.
Schmick is doing just that. He said he hosted a tag sale, selling several artifacts to offset the organization's strained budget and cushion its finances.
"It's a drain on our human resources. It's a drain on our budget to maintain all of these objects and have them under cover and out of the rain. And so we've taken up the strategy of selling off parts of the collection," Schmick said.
He said the first tag sale was successful, and the next sale will be sometime this month. Schmick said he also plans to have a tag sale later in the year.
The museum doesn't just need money. Schmick said it's lacking human resources as well, and volunteers are needed.
"It's a difficult problem that faces a lot of nonprofits," Schmick said. "Finding people that have time to give to an organization."
He said volunteers can stand post at the various sites at the museum like the single-classroom schoolhouse, the blacksmith shop, the carousel, and more.
There will be a doodlebug pulling competition at the museum on Saturday. Families can come out and watch the competition and ride the historical carousel.
For more information, call 207-416-9700. Those interested can also call 207-285-7582.