Businesses looking for summer networking and fun will find opportunities galore during an evening on the Royal River in Yarmouth at Yankee Marina & Boatyard where the Institute for Family-Owned Business stages its third Summerfest.

For over 20 years, the Institute, a nonprofit organization, has been committed to supporting, strengthening and empowering family-owned businesses throughout the state of Maine. The Institute is a comprehensive resource for family-owned business.

Former Boothbay Harbor Region Chamber of Commerce executive director Catherine Wygant Fossett is its new executive director and manages the Institute from her home in Boothbay.

Summerfest on August 14 is a casual, drop-in event, starting at 5 p.m., designed for Institute members to connect and for newcomers to learn more about the Institute. Hosted by owners Deborah Delp and Matthew and Ben Stevens, Yankee Marina is located at 142 Lafayette Street in Yarmouth.

Summerfest offers food and beverages by Churchill Catering; a silent auction that features Maine-made items including overnight stays at the Inn at Cuckolds Lighthouse in Southport, Fisherman’s Wharf Inn in Boothbay Harbor, the Meadowmere Resort in Ogunquit and more.

Special sports and music memorabilia including signed guitars by Jimmy Buffett , Eric Clapton and B.B. King plus Larry Bird Boston Celtics Hall of Famer signed basketball, Bruce Springsteen Signed CD/Photo/Lyrics “Born in the USA” and Garth Brooks signed white Cowboy Hat. Merrymakers will be entertained by the tunes of the Elmore Twist Band for listening and dancing. New for 2014 is a photo booth where attendees can take unlimited photos of themselves with friends, using fun props and great laughs while taking home an old fashioned photo strip.

Summerfest sponsorships are available and auction items, which benefit the Institute, are welcomed. The cost is $45 per person, whether an Institute member or not, with registrations accepted at www.fambusiness.org or 207-798-2667.

“This is the third year for Summerfest at Yankee Marina, with a bucolic setting to tell the Institute’s story and for people to just enjoy themselves,” said Fossett, the new executive director.