Recent donations to the Vision for Tomorrow campaign have greatly exceeded projections. In fact, the Foundation’s fourth quarter gift totals were historically large, with over $13M in donations, a 67% increase over the prior year, bringing the campaign total over $134M as of December 31, 2017!
The success of the October 13 public campaign launch, coupled with changes in tax laws and very strong support for the Vision for Tomorrow matching gift program led to the outstanding totals. The campaign is now at nearly 70% of the $200M goal.
The matching gift program has leveraged over $3M with 25 new funds and increases to existing funds. This investment was possible due to an anonymous donor who made a generous estate gift which created the matching program. There are still limited matching funds available for those who would like to take advantage of the program.
The team of WBRC Architects Engineers, based in Bangor, and Ellenzweig, an architecture and planning firm in Boston, has been selected to design the Engineering Education and Design Center at the University of Maine, proposed to be upward of $80 million. Successful fundraising will allow UMaine to break ground for the new facility in late 2019 or early 2020, with completion projected for 2022.
Several donors have asked how they can participate in the Vision for Tomorrow campaign through their estate plans. It has become common for gifts to the University of Maine Foundation to be made via beneficiary designation. Qualified accounts include retirement plans bank or brokerage accounts, insurance policies, commercial annuity contracts and donor-advised funds sponsored by financial institutions.
As previously noted, a generous campaign gift from the Alfond Foundation created the Stephen E. King Chair in Literature which includes support for a lecture series. The College of Liberal Arts and Sciences recently announced the keynote lecture as part of the inaugural year of the series.
Foundation staff continues to secure funds for the remaining campaign goals. With many alumni and friends who care deeply about the future of the University of Maine and a campus the size and scope of UMaine, there are many opportunities to match need with a donor’s philanthropic interests. Please contact the Foundation to answer any questions about the Vision for Tomorrow comprehensive campaign.