The University of Maine System has just received its largest ever investment in the amount of $240 million it acknowledged today. The Portland based Harold Alfond Foundation has announced an historic investment in Maine education institutions of $500 million – with Maine receiving almost half of that commitment over the next twelve years.
The University System will leverage the Harold Alfond Foundation’s investment to secure an additional $170 million in matching funds over the next ten years from numerous sources, resulting in $410 million total investment in Maine’s public university system.
The Foundation’s investment will focus on four areas:
+ $55 million for the Maine Graduate and Professional Center,
+ $75 million for a multi-university Maine College of Engineering, Computing and Information Center to be cooperatively led by the University of Maine,
+ $20 million for student success and retention, and
+ $90 million for athletic facilities in the University of Maine and the well-being of Maine people.
“The Harold Alfond Foundation has our community’s deepest gratitude for this historic gift to Maine’s flagship university, and to the entire University of Maine System. On behalf of the USM community, I thank the Harold Alfond Foundation for their confidence in our ability to realize the full potential of their investment and the magnitude of their generosity,” said USM President Glenn Cummings in a statement issued today.
Please see previous post herein for more background information on the Foundation’s gift.