UMaine receives record grant from Alfond Foundation
ORONO, Maine (WABI) - The Harold Alfond Foundation is making a $500 million dollar investment in eight institutions - including a $240 million dollar commitment to the University of Maine System. It’s the largest investment ever to be made to a public institution of higher education in New England.
The foundation gift includes $90 million dollars for UMaine athletics, $75 million to expand engineering programs, $55 million dollars for the Maine Graduate and Professional Center, and 20-million dollars for student success and retention.
Paid over a period of 12 years, the UMaine System will leverage the gift to secure an additional 170-million dollars in matching funds over the next decade from private, state, and federal sources.
“We know that this will benefit our universities and well beyond the entire system," said UMaine President Joan Ferrini-Mundy. “It will accelerate our partnerships across the system in ways that will bring tremendous educational opportunity to the people of Maine.”
”We know that that human capital that is educated in our institutions is what drives Maine’s economy and will predict further growth well into the future," UMaine Chancellor Dannel Malloy. “This vote of confidence by the Alfond Foundation in the University of Maine System is greatly appreciated.”
Other grant recipients include Colby College, Thomas College, the University of New England, Jackson Laboratory, FocusMaine, The Roux Institute at Northeastern University, and Waterville Creates.
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