Continue with the expanded web version, or read the print PDF with the link below.

The University of Maine Foundation celebrates its 90th Anniversary

As we celebrate the 90th anniversary of the University of Maine Foundation, we reflect on a legacy built upon the pillars of tradition, innovation, and scholarship. This year’s annual report is a testament to the unwavering commitment of our donors, academic partners, and staff to fosterting support for our beloved institution. Together, we will continue to cultivate opportunities through scholarships, inspire innovation, and uphold the legacy of excellence at the University of Maine campus that bestows its greatness on so many.

June 9, 1934, is the date when the University of Maine Foundation was officially incorporated. The University and Alumni Association entered into an agreement under which the University contributed $1,000 annually to the Association. The purpose of this plan was to enable the Association’s executive secretary to call upon prominent alumni to cultivate their interest in the institution with hope that they might make gifts and bequests to their Alma Mater, The University of Maine. On that date, President Harold S. Boardman ’95 called a meeting to order amongst the charter members of the Foundation. The Statement of Purpose and the By-Laws were subsequently adopted:

The purpose of said corporation are to acquire real or personal property by devise, bequest, gift, donation, or otherwise, to hold, administer, control, and manage the same for the benefit of the University of Maine, its faculty, or students, or any member of either body, upon such terms and to such ends as donors, testators, or others shall prescribe, or otherwise on terms prescribed by this Corporation in the exercise of its discretion.

The Class of 1909 has the distinction of making the first gift to the Foundation. They presented to Dr. Harold S. Boardman a check for $1,000 that night, June 9, 1934, at the Annual Alumni Banquet, designating it as the first gift to the Foundation. Directors completed the details regarding the organization such as the term expirations, etc. They also voted to place $500 of the 1909 gift in the Penobscot Savings Bank and the other $500 in the Bangor Savings Bank.

Voting took place to introduce a bill into the 1935 Legislature for the purpose of confirming the Foundation and its tax-exempt status and gaining some publicity. Accordingly, President Wheatland had a bill prepared which he sent to Penobscot County Senator Marion Martin ’30 who had gained considerable prestige in that body. She introduced the bill, a hearing was held at which there was no opposition, and the bill was enacted February 27, 1935.

From that very first gift of $1,000 and in 90 short years, the assets of the Foundation are proudly over $400,000,000 with more than 2,200 endowed funds. Your investment in our mission will serve future generations of UMaine students in perpetuity. Thank you and cheers to many more years of successful partnerships between UMaine donors and the University of Maine Foundation.

A Record-breaking Fundraising Year

Over $95 million was raised in the fiscal year ending June 30, 2024, for the benefit of the University of Maine. This represents the largest annual total in the history of University of Maine fundraising. This remarkable achievement is a 120% increase over the previous year’s record of $43 million. Before the merger with the Foundation in 2016, University of Maine fundraising averaged $19 million per year. The 2024 total represents a 400% increase over that number.

This dramatic increase in support underscores the dedication of the University’s alumni, supports, and corporate partners. Thanks to their remarkable generosity and leadership, the University of Maine’s future is brighter. The impact of this support across the university is widespread, and, directly or indirectly, positively influences every student. This philanthropy will help jump-start much-needed campus projects and provide the margin of excellence opportunities that make a college experience at the University of Maine life-changing. 

We continue to make good progress on UMaine’s matching obligations needed to complete the $320 million Harold Alfond Foundation system-wide grant. That includes their most recent $80 million gift, bringing support for UMaine athletics to $170 million with $38 million in matching funds required. 

As we conclude the 90th anniversary of the Foundation, we are happy to report that the $1,000 initial investment on June 9, 1934, has grown to over $400,000,000 in total assets with more than 2,200 endowed funds. Additionally, for the first time, UMaine’s total endowment now exceeds half a billion dollars at $511,000,000 These funds will serve future generations of UMaine students in perpetuity. 

Cheers to many more years of successful partnerships between UMaine donors and the University of Maine Foundation as we continue cultivating opportunities, inspiring innovation, and upholding the legacy.

 

Jeffery N. Mills ’82
President/CEO
University of Maine Foundation

Dr. Bob Strong, CFA
Chair of the Board
University of Maine Foundation

 

Creating Leaders, Innovators and Problem Solvers

Each of us has the opportunity to confront unprecedented changes and new opportunities in higher education and creatively envision the future of the University of Maine. We are committed to the university’s success in serving our learners, the state, and beyond. This year has seen increases in enrollment and record-breaking retention. 

UMaine is fortunate that so many individuals and organizations understand and support the university’s mission as a partner, resource, and catalyst for Maine and its people. Those commitments will fuel scholarships and major campus renovations that will serve students, faculty, and the people of Maine for decades to come. For many, the Harold Almond Foundation’s transformational $320 million pledge to Maine’s public universities has inspired new levels of support for UMaine’s academic excellence and athletic competitiveness.

The UMaine Foundation plays a leading role in supporting our donors, and we congratulate the Foundation on its 90th anniversary this year. Foundation leader and staff work closely with UMaine’s generous alumni and friends to identify the many opportunities to create positive change within the UMaine community and beyond. Enhanced by your incredible support, our graduates are ready to become the leaders, innovators, and problem-solvers of tomorrow. 

On behalf of our entire UMaine community, I thank you for your willingness to be a difference-maker in the future of the University of Maine.

 

Joan Ferrini-Mundy
President, University of Maine and University of Maine at Machias

Vice Chancellor for Research and Innovation, University of Maine System

 

UMaine Alums Honored with President Abram Harris Award

The President Abram W. Harris Award was established by President Harris’ grandson Abram “Pete” W. Harris III ’50 and his friend Marion Waterman Meyer ’51. In 2024 it is presented to one alum from each of the six colleges by the Foundation. President Harris is remembered in the Board of Trustees reports for eight years of service during which the University made rapid, constant progress. He established the founding chapter of Phi Kappa Phi National Honor Society. President Harris left the institution larger, stronger, and in every respect a better university. You can read about this year’s recipients below.

Dr. Alice Briones ’94
College of Liberal Arts & Sciences
Read More

Charles “Chuck” A. Loring, Jr. ’12
College of Earth, Life & Health Sciences
Read More

Gustavo F. Burkett ’02 ’05G
Maine Business School
Read More

Dr. Paula Quatromoni ’85 ’86G
College of Education & Human Development
Read More

Prashanth Chandrasekar ’02
College of Engineering & Computing
Read More

Lindsay Lawrence Videnieks ’99
Honors College
Read More

Over $95 million raised in another record-breaking fundraising year.

University of Maine Foundation President and CEO Jeff Mills announced that over $95 million was raised in the fiscal year ending June 30, 2024 for the benefit of the University of Maine, the largest annual total in UMaine fundraising history.

This represents a 120% increase over the previous year’s record of $43 million raised. Before the Office of the University of Development merged with the Foundation in 2016, UMaine fundraising averaged $19 million per year. The 2024 total represents a 400% increase.

“We are incredibly grateful for the continuing support of our donors,” said Mills. “Thanks to their remarkable generosity and leadership, the University of Maine’s future is brighter. This philanthropy will help jump start much-needed campus projects and provide the margin of excellence opportunities that make students’ college experiences life-changing.”

“This unprecedented fundraising achievement demonstrates the confidence and excitement about the university’s direction and successes and reflects the depp external commitment and loyalty that shapes the University of Maine’s future, impacting students, faculty and the broader community,” said University of Maine President Joan Ferrini-Mundy. “We thank all donors for their generosity.”

Among many generous contributions, notable bequests from alumni Norm Stetson ’62; Parker Denaco ’65, ‘5G; and Suzanne K. Hart ’68, have significantly bolstered engineering scholarships, various excellence funds and the University of Maine Alumni Association. An anonymous alumni donor also made an extraordinary gift of over $15 million to endow two faculty chair positions that will enhance the Maine College of Engineering and Computing Department of Mathematics and Statistics in the College of Liberal Arts and Sciences.

Additionally, a gifted collection of gemstones and jewelry valued at over $1.2 million will be unvieled by the School of Earth and Climate Sciences this academic year. Giving highlights for the University of Maine Pulp and Paper Foundation include two significant gifts totaling over $2.7 million to recruit and support students and improve UMaine research infrastructure.

Over 90 new endowment funds established this year have provided scholarships, excellence funds, leadership support and travel funds for UMaine students. Alumni and current and former UMaine faculty and staff created many of these funds.

The university also received a $27 milion payment through a previously announced grant from the Harold Alfond Foundation (HAF) to support the UMaine Athletics Master  Plan as part of UMS TRANSFORMS, a historic investment by HAF in Maine’s public universities. The $170 million grant to UMaine ahtletics honors Harold Alfond’s legacy of support for student-athletes and represents one of the largest single philanthropic contributions to a Divison I program in the country. Realized gift annuities contributed to over $300,000 to support various campus initiatives. The year’s pledges totaled over $12 million, highlighted by a $7 million pledge for the New Balance Track & Field and Soccer Complex. A $1.26 million pledge will benefit aquaculture research and another $326,000 pledge will support the Sam Martinez Hazing Prevention Fund. Over $1.2 million in bequests expectancies have been documented for the year, ensuring sustained support for the university’s future endeavors. UMaine also received over $4.9 million in grants from non-government entities to further its research capabilities and innovation.

The Foundation raised over $4 million through its 90th Anniversary Gift matching Program, made possible by a generous gift of $1 million to support scholarships from the Judith and Robert Blake Charitable Fund of the Community Foundation of the Lowcountry. Robert E. Blake was a member of the Class of 1962.

Just over $508,000 was raised from friends and alumni through over 5,500 gifts of $499 or less. Many of those gifts were received as a result of Annual Fund and Maine Day of Giving donors.

New Funds in FY24

Nearly 100 new endowed funds were established at the University of Maine Foundation in FY24. UMaine alumni and friends have provided support for scholarships and excellence throughout the Orono campus.

New Funds Established in FY24

Name of FundEstablished By
All Maine Women Centennial Leadership FundAll Maine Women Alumnae Affinity Group
Raymond E. and Margaret Amsden Memorial ScholarshipJoanne Yestramski & Joseph Amsden '67
Robert Babcock Lecture FundGraham Carr '83, Ph.D.
Barrett ScholarshipDavid Barrett
Bartel-Struck Opportunity ScholarshipLavon L. Bartel, Ph.D. & David G. Struck
Baston Congressional Internship FundDouglas C. Baston '69
Gail M. Berry and Major General Peter T. Berry Education Scholarship FundGail M. Berry '61 & Major General Peter T. Berry '61
Vaun Dole Born '47 Memorial ScholarshipJames O. Born, Douglas J. Born & Christine Born Johnson '82
Zhenya Boteva ScholarshipOrlina Boteva '04G, '05G
Bouchard Congressional Internship FundJohn E. Bouchard '61 & Saundra F. Albrite-Bouchard
Bourque Family ScholarshipMichael P. Bourque '89 & Kendra B. Connelly
Sandra L. Caron, Ph.D. ScholarshipSandra L Caron, Ph.D. '79, '82G
Alvin W. Chase, Jr. ScholarshipAlvin W. Chase, Jr. '85
Nancy C. and William R. Chute Literacy Education FundNancy C. & William R. Chute
Mary Ellen Cimillo '99 and Jon T. Lightner '94 Music Program Support FundJon T. Lightner '94
Mary Ellen Cimillo '99 and Jon T. Lightner '94 Nursing Program Support FundJon T. Lightner '94
Bernard E. and Dorothy M. Clark ScholarshipBasil A. Clark
Class of 1969 Nursing ScholarshipJeanne H. Jerfsten '69
Camilla Guerette Corson '65, '70G & Bruce P. Corson '64 ScholarshipCamilla Guerette Corson '65, '70G & Bruce P. Corson '64
Cronan Family International Travel FundChristopher S. Cronan, Ph.D.
David M. and Joan S. Cunningham Student Success FundThe Estate of David M. Cunningham '54
William B. and Barbara Brown Dalton William B. Dalton '80 & Barbara Brown Dalton '81
Diakoneint Empowerment ScholarshipThe Diakoneint Foundation
Bill Diehl '60 Music Educator Assistance FundThe family of Wiliam B. Diehl '60
Elaine H. Farashian ScholarshipElaine Farashian '63
Bruce R. Fournier and Joanne E. Fournier Biomedical Engineering FundBruce R. Fournier '79 & Joanne E. Fournier
Bruce R. Fournier and Joanne E. Fournier ScholarshipBruce R. Fournier '79 & Joanne E. Fournier
Helene Fuld Health Trust ScholarshipHelene Fuld Health Trust Scholarship
Gannett Hall 2 North Alumni Scholarship FundRaymond McGowen '80, Arthur (Bud) Newell '77, & Scott Round '76
Richard H. Garrett '71 and Susan H. Garrett Nursing ScholarshipRichard H. Garrett '71 & Susan H. Garrett
Charles E. Gilbert Mausoleum FundThe Estate of Charles E. Gilbert (Class of 1894)
Charles E. Gilbert ScholarshipThe Estate of Charles E. Gilbert (Class of 1894)
Robert H. Gilman '62 Student Emergency FundCharles Gilman
Ronald C. Glidden '62 and Bernice L. Glidden ScholarshipRonald C. Glidden '62 & Bernice L. Glidden
Goodenough Family Legacy UMaine Scholarship FundThe Goodenough Family '61, '62, '88, '20, '22
Shirley Lovejoy Goodwin Scholarship Endowment Fund Dorcas Goodwin Wilkinson '78, '80G
James W. Gorman, Sr. '58 Alumni FundJames W. Gorman, Sr. '58
David B. Gould and Anne Chaplin Gould Scholarship for Transfer StudentsDavid B. Gould '75 & Anne Chaplin Gould '78
Newton '50 and Susan Graham FundNewton Graham '50 & Susan Graham
Tracy W. Harding '84 and Aimee E. Smith '85 ScholarshipTracy W. Harding '84 & Aimee E. Smith '85
Edwin James Haskell ScholarshipBenjamin "Ben" E. Haskell II '67 & BettyAnn Coulton Haskell '69, '83G
Hickey Family Mechanical Engineering Scholarship FundThomas P. Hickey '73 & Christine A. Hickey '73
Ralph Arthur Hill ScholarshipWilliam A. Brewer '64 & Sandra E. Brewer
Virginia Hudak-David '80 and Mark David '80G Graduate FellowshipVirginia Hudak-David '80 & Mark David '80G
Marshall & Audrey Hughes Native American Student FundRev. Marshall Hughes '74 & Audrey Hughes
Charles A. Jenson, Jr. '79 ScholarshipCharles A. Jenson, Jr. '79
Phyllis Carole Kelley Maine National Education for Women Leadership FundPhyllis Carole Kelley '66, '92G
Spofford Harris Kimball Chair in MathematicsAnonymous Donor
Pierre D. Labat and Catherine C. Labat Athletic Leadership FundThe Estate of Ret. Lieutenant Colonel Pierre Denis Labat '62
Lewiston Strong ScholarshipVarious donors in support of the 2023 Lewiston, Maine tragedy
Marcia Megguire Libby Education ScholarshipSharon Libby Sharp '65
Linehan Family Gallery FundJames, Patrick & Deborah Linehan
Dr. Bernard Lown '42 Honors College Teaching ProfessorshipNaomi, Anne & Frederic Lown
Marston Family ScholarshipDeborah Moore Marston '73
Hilda Hutchins McCollum Collins Center for the Arts FundThe Mimi Foundation
Myrtleen Snow McLean '32 and James A. McLean '33 ScholarshipJoan McLean Leonard
Mechanical Engineering Technology (MET) ScholarshipDr. Brett D. Ellis, Ph.D., P.E. & Erin O Ellis
Mechanical Engineering Technology Challenge ScholarshipDavid Greer '80
Thomas H. Mitchell '71 Political Science Prize FundThomas H. Mitchell '71
John F. Moriarty Memorial ScholarshipAnonymous Donor
William "Bill" J. Munsey '60 and Helen Wallace Munsey '61 ScholarshipThe Estate of William J. Munsey '60
Caroline Nale ScholarshipMark J. Nale '80 & Laurie Nale
New Balance Future ScholarsNew Balance Athletics, Inc.
Lisa W. and Michael A. Nula Family Nursing ScholarshipLisa W. Nula '98 & Michael A. Nula
W. Kent Olson Conservation Papers FundW. Kent Olson '68
Edith Marion Patch PrizeThe Friends of Dr. Edith Marion Patch
Pioneering Innovation Chair in EngineeringAnonymous Donor
Robert Frank Preti Scholarship FundRobert Frank Preti '46 & Elizabeth C. Preti
David J. Pullen '73 ScholarshipDavid J. Pullen '73
Leslie S. Ray, Jr. ScholarshipDavid L. Ray '83
Jenness and Carol Robbins FundJenness L. Robbins & Dr. Carol Gelo Barr Robbins
Dr. A. Everett Rosen Family Nursing ScholarshipThe Dr. A. Everett and Ruth E. Rosen Foundation
Major General Robert A. Rushworth '51 ScholarshipWilliam G. "Bill" Weppner, Major, USAF (Retired)
Col. F. William Smullen, III '62 Scholarship FundCol. F. William Smullen, III '62
Sockalingam Family ScholarshipKannan Sockalingam '00, '02G & Senthil Sockalingam '08, '10G
Spetnagel Family Acorns to Oaks ScholarshipSteven E. Spetnagel
Stewart Dickison ScholarshipBernadine Dicison Robertson '67 & Jeffery C. Robertson '66
Lori Hutchinson Stimpson '88 and Scott D. Stimpson '86 ScholarshipLori Hutchinson Stimpson '88 & Scott D. Stimpson '86
Milton Loring Stott ScholarshipBruce M. Stott '74
Tierney Pre-Law Student FundFriends of James E. Tierney '69
Charles E. Towle '35 Athletic Excellence FundLinda A. Towle
Joan Trial Graduate Travel AwardFriends and family of Joan Trial '73, '76G, '89Ph.D.
Everett E. Turner, Jr. Chemistry of Food and Cooking AwardAnonymous Donor
UMaine Alumni of the Lowcountry ScholarshipThe UMaine Alumni of the Lowcountry
UMO Women's Track Club Fund (endowed for tomorrow)Robert B. Thurston '77 & Susan Slocum Thurston '76
Bruce A. Van Note ScholarshipBruce W. Martinson '85
James A. Victor Mechanical Engineering ScholarshipJames A. Victor '56
Dianne Martin Walsh ScholarshipJames J. Walsh '56
David Walts '92G ScholarshipDavid Walts '92G
Dean J. Waring and Mary McPartland Waring ScholarshipMary McParland Waring '80, '84G
Joyce M. Weaver ScholarshipBenjamin Bucklin '15
Patrick H. and Jeanette L. Welch ScholarshipFamily of Patrick Henry Welch, II '50 & Jeannette Lavigne Welch
Jane Walker Woodruff and Frederick Woodruff ScholarshipJane Walker Woodruff '68 & Frederick "Rick" Woodruff '67
Alfred M. Wynne '52, '55G Food Chemistry AwardAnonymous Donor
Alfred M. Wynne '52, '55G Quantitative Analysis AwardAnonymous Donor
Mary E. Wynne Nutritional Care of Older Adults AwardAnonymous Donor
You Can Do It ScholarshipDonald & Nancy Smith

Board of Directors

Robert A. Strong 
Chair

Kurt R. Marston ’74, ’79G 
Treasurer

Donna L. Hathaway ’70 
Director

Beth L. Sturtevant ’82 
Director

Todd D. Saucier ’93, ’97, ’44H 
Vice Chair

Joseph L. Ferris ’66 
Clerk

Christopher P. Keating ’79
Director

Dorothy Foster Vachon ’80
Director

Maria R. Fuentes ’85G 
Secretary

David M. Austin ’90 
Director

Kenneth A. Murray ’68 
Director

Ex-Officio Board Members

Joan Ferrini-Mundy 
President
University of Maine and
University of Maine at Machias
Vice Chancellor for Research and Innovation
University of Maine System

Jeffery N. Mills ’82 
President and Assistant Treasurer

Philanthropy Staff

Orono Office

Jeffery N. Mills ’82
President/CEO
jeff.mills@maine.edu

Sarah McPartland-Good
Foundation General Counsel
sarahm@maine.edu

Matthew Mullen
Associate Director
matt.mullen@maine.edu

Hannah Young
Philanthropy Officer
hannah.young@maine.edu

Pat Cummings 
Senior Director of Philanthropy
patricia.cummings@maine.edu

Karen Kemble 
Associate Director of Planned Giving
karen.kemble@maine.edu

Katie Braggins-Rossignol 
Philanthropy Officer
kathryn.rossignol@maine.edu

Christine Marden 
Philanthropy Associate
christine.marden@maine.edu

Liz Erickson 
Senior Director of Philanthropy
elizabeth.erickson@maine.edu

Joe Light 
Associate Director
joseph.light@maine.edu

Diane Woodworth 
Philanthropy Officer
diane.woodworth@maine.edu

Southern Maine Office

Joyce Kennedy
Senior Director of Southern Maine Operations
joyce.kennedy1@maine.edu

Ryan Daly
Philanthropy Officer
ryan.j.daly@maine.edu

Dee Gardner 
Associate Director
dgardner@maine.edu

Kelly Daugherty 
Philathropy Associate
kelly.daugherty@maine.edu

Terri Beyer 
Philanthropy Officer
terri.beyer@maine.edu

Statement of Financial Position

ASSETS FOR YEARS ENDED JUNE 3020232024
Cash, operating$457,152$722,512
Promises to give3,406,3205,120,815
Short-term investments15,471,05019,153,512
Long-term investments308,121,078371,067,157
Life income and other planned gifts12,442,87811,826,794
Investment real estate5,558,4225,499,702
Property and equipment, net of accumulated depreciation2,771,0652,662,841
Other assets546,471629,149
TOTAL ASSETS$348,774,436$416,632,482
LIABILITIES AND NET ASSETS FOR YEARS ENDED JUNE 3020232024
Accounts payable$352,626$864,800
Distributions due income beneficiaries2,040,8322,111,779
Accrued expenses1,041,8431,326,344
Custodial accounts payable3,776,7394,118,767
Total liabilities7,212,0408,421,690
Total net assets$341,562,396$408,210,792
TOTAL LIABILITIES AND NET ASSETS$348,774,436$416,632,482

Statement of Activities

REVENUE AND GAINS FOR YEARS ENDED JUNE 3020232024
Contributions$25,607,232$56,259,265
Net investment income (loss)17,705,26439,901,423
Gain (loss) Life income and other planned gifts290,263877,931
Advancement services3,779,0043,893,584
Other revenue140,16658,938
TOTAL REVENUE AND GAINS$47,521,929$100,991,141
EXPENSES AND LOSSES FOR YEARS ENDED JUNE 3020232024
Distributions supporting University$10,680,069$17,997,045
Gifts transferred to University6,190,6848,877,583
Distributions to life income participants305,483335,487
Distributions, other105,681146,828
Program services1,556,7961,656,835
Management and general1,277,0241,308,669
Fundraising3,799,5564,020,298
Total expenses and losses23,915,29334,342,745
Increase (decrease) in net assets23,606,63666,648,396
Net assets, start of year317,955,760341,562,396
NET ASSETS, END OF YEAR$341,592,396$408,210,792

University of Maine Foundation
University of Maine System (Orono Campus)
University of Maine System (Machias Campus)
University of Maine Pulp and Paper Foundation*
UMaine 4-H Foundation
Total

*Pulp and Paper Foundation fund values as of December 31, 2023

$371,067,157
101,122,056
3,711,115
31,920,467
4,048,530
$511,869,325