The Libra Future Fund (LFF) is a nonprofit corporation. The organization was established in February 2005 through a grant from Libra Foundation.
The Libra Future Fund was created to capitalize upon the energy and creativity that Maine’s young people embody and to combat youth out-migration by supporting initiatives that increase the number of Maine-based professional opportunities. In the spring of 2005, LFF launched its first initiative, a youth grant program.
To that end, Libra Future Fund awards grants to individuals to promote economic development or create job opportunities in Maine. Projects are typically entrepreneurial in nature i.e. fledgling businesses in need of startup capital, but LFF will consider other types of projects that contribute to Maine's economy. In addition, projects should provide the applicant with substantial professional or educational experience.
There are several reasons for developing and running the LFF youth grant program. First, young people in Maine represent a significant source of creativity and energy that has remained largely untapped through this point. Second, Maine’s youth are leaving the State for employment and education at a rate that has prompted Maine's governmental officials to organize discussion groups to collect ideas on how to combat and reverse this trend. Studies have shown that a perceived lack of opportunity within Maine has helped to foster out-migration. The development of the LFF youth grant program will help to capitalize upon the talents of young Mainers and improve the quality of life in the State while also working to increase the number of quality job opportunities in Maine for the State’s young men and women. By working in the aforementioned ways, LFF will help to promote the long-term economic vitality of Maine.