Planning Ahead with Matching Funds

Planning Ahead with Matching Funds

What a glorious feeling, I’m happy again . . .

This phrase, from the popular song “Singin’ in the Rain,” reflects the enthusiastic feelings of Norma Towne Clayton ’63 and her husband John, they recently received a thank-you letter from the first recipient of the Norma Towne Clayton Scholarship at the University of Maine.

This endowed scholarship fund provides scholarship assistance to a graduate of a Maine high school and of Lake Region High School in Naples, Maine, if possible. The endowed scholarship was originally to be funded by the Claytons upon their deaths. However, since their move to a continuous care retirement community in 2011, it became obvious to them that it might be possible that they could outlive their retirement plan savings and pensions. Although it is their hope that they “run out of breath before they run out of money,” they began to think of ways to make the scholarship a reality during their lifetimes. 

With the help of Sarah McPartland-Good, who specializes in planned giving at the University of Maine Foundation, they crafted a workable plan for establishing Norma’s scholarship through a series of annual gifts to the Foundation that were affordable to them. They had further encouragement during a five-year matching gift program when the Foundation agreed to match their annual gifts. Always ready for a bargain, they made their pledge immediately!

The University of Maine Vision for Tomorrow campaign matching gift program a few years later provided a similar matching situation, so they’re working on that pledge to bolster Norma’s endowed scholarship fund. John says that this has made it possible for them to fulfill their dream for the University of Maine earlier than anticipated and that it also feels good to have made a “warm hand gift, rather than a cold hand one!” They have been personally satisfied by being able to see the results during their lifetimes.

Both Norma and John put themselves through college; Norma worked in the dining halls at the University all four years on campus and for four summers at Migis Lodge in Casco, ME. She received help through loans from a member of the South Bridgton community who had provided financial help to other young people from South Bridgton. He died during the second semester of Norma’s junior year and in his will cancelled any college loans that were outstanding at the time of his death. A couple in the community, knowing of the help provided by the deceased man, stepped forward to loan Norma what she needed to complete her Maine education. The thoughtful gesture made its philanthropic mark on Norma.

John’s story is similar in that he, too, put himself through college by working part-time at a department store’s customer service pick-up area, where he delivered items such as television sets, window air conditioners, furniture, and, lawnmowers to customers when they came to pick them up at the loading platform. He was also the baritone in a paid solo quartet of a church in center city Wilmington, DE. It can be said that he “sang himself through college!”

Norma and John, during their working years and with more disposable income, provided help for several college-age young people, asking only that the recipients provide similar help to others in college after they are established and able to provide such help. The Claytons have strong feelings about giving back to the communities and organizations that supported them when they were young. This has been important to them and they carried it one step further by both working as planned giving associates at two different universities during the last 14 years of their careers.

To talk with someone about providing for your University of Maine dream, please contact the University of Maine Foundation.

None of the information on this website should be considered legal or financial advice. We encourage you to consult with your own legal counsel or financial/tax advisor before deciding whether or not to proceed with a gift or change to your estate plan.

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Abby Graduates!

Abby Graduates!

About four years ago, a new UMaine student shared her store with members of UMaine’s Charles F. Allen Legacy Society at their luncheon. She talked about the challenges she faces as a nontraditional student and her gratitude for the support she received from the Senior Alumni Scholarship which was helping her to attend UMaine.

Flash forward to 2019 when this same student, Abigail Weigang, is about to graduate with a B.S. in bioengineering.

“I am grateful for the many opportunities I have been afforded as a student at the University of Maine. I have conducted undergraduate research in the field of biomedical engineering for the past three years and have competed on the Track and Field team as a proud Black Bear athlete since I was a freshman. Following graduation, I will begin my career as an engineer in the biotechnology industry. These opportunities and the ones that lie ahead of me would not have manifested without the scholarship support I received, which allowed me to attend the University of Maine! I would like to thank each and every one of you who give generously to help students like myself. I will be thinking of you as I accept my diploma in May.”

–Abigail Weigang ’19

None of the information on this website should be considered legal or financial advice. We encourage you to consult with your own legal counsel or financial/tax advisor before deciding whether or not to proceed with a gift or change to your estate plan.

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Beneficiary Designation Giving

Beneficiary Designation Giving

Last year the University of Maine lost one of its oldest and most beloved alumni, Eleanor M. Webb. Miss Webb was a staple at many alumni events, delighting all who met her with her charm, humor, and wonderful memories of her time at the University. The University of Maine Foundation had the pleasure of assisting Miss Webb with her beneficiary designation gifts. The Eleanor M. Webb Fund at the University of Maine Foundation was a named beneficiary of her IRA, Certificate of Deposit (CD), and Charitable Remainder Trust.

Miss Webb, who grew up in South Portland and graduated from South Portland High School in 1943, earned her undergraduate degree in zoology from the University of Maine in 1947. Nearly 25 years later, she went back to the University and earned her Master of Education. She had a distinguished career in the health field, retiring from Kennebec Valley Medical Center in 1992, where she was Chief Technologist and Educational Coordinator. She was also instrumental in establishing the Med Lab Science Associate degree program at the University of Maine at Augusta and served as its program director, as well as a professor, from 1973 to 1992.

The funds from Miss Webb’s estate went to the Eleanor M. Webb Fund, which Miss Webb established in 2007 to support non-traditional students at the University of Maine. As someone who was considered a non-traditional student for her graduate studies, Miss Webb understood the unique challenges facing such students and wished to help them achieve their dreams, no matter their age.

If you would like assistance with your beneficiary designation gifts or have other questions about how you can make the University of Maine part of your own legacy, please contact the University of Maine Foundation.

None of the information on this website should be considered legal or financial advice. We encourage you to consult with your own legal counsel or financial/tax advisor before deciding whether or not to proceed with a gift or change to your estate plan.

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Gift Annuities and Land Gift Create a Legacy

Gift Annuities and Land Gift Create a Legacy

John and Pauline Turcotte Applin are both graduates of the University of Maine. Pauline received her undergraduate degree from the College of Education in 1964 and her Master of Education in 1968. John received his undergraduate degree from the College of Education in 1965 and his Master of Education in 1970.

Pauline and John were both math teachers at Telstar High School in MSAD 44 in Oxford County. In addition, John coached x-country running and outdoor track for over 35 years, including many state championship teams.

Pauline and John have established two gift annuities, the first in 2007 and the second in 2018. The residuum of the gift annuities will go to the John R. and Pauline T. Applin Fund. This was established to provide financial assistance for Maine residents attending the University of Maine and majoring in math.

In addition to the gift annuities the Applins donated a 75-acre woodlot that surrounded their home in Bethel an dMason Township. The woodlot was very well managed and is a wonderful gift to the Green Endowment at the University of Maine Foundation.

The Applins are a very generous couple and their support of the University is appreciated.

None of the information on this website should be considered legal or financial advice. We encourage you to consult with your own legal counsel or financial/tax advisor before deciding whether or not to proceed with a gift or change to your estate plan.

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Pfeiffer Foundation makes $1.5 million gift to new UMaine engineering building

Pfeiffer Foundation makes $1.5 million gift to new UMaine engineering building

A $1.5 million gift has been received from the Gustavus and Louise Pfeiffer Research Foundation to help construct the University of Maine Engineering Education and Design Center (EEDC), according to University of Maine Foundation President/CEO Jeffery Mills.

The gift brings the total amount raised in support of the new facility to $66 million.

“We appreciate the leadership and vision of the Gustavus and Louise Pfeiffer Research Foundation, and its generosity,” says Joan Ferrini-Mundy, president of the University of Maine and University of Maine at Machias. “The Engineering Education and Design Center will transform engineering education at the university and in the state, fostering a collaborative community of learners — students, faculty, alumni, employers, and academic, research and industry partners.”

EEDC will house the Biomedical Engineering Program and Department of Mechanical Engineering, and provide space for all UMaine engineering majors to complete their capstone projects. This gift will name a space within the center.

Groundbreaking for the center is planned in early 2020, with anticipated completion in 2022.

“The Pfeiffer Research Foundation’s investment will provide world-class laboratories to support the pioneering research my colleagues and I do at the University of Maine,” says Karissa Tilbury, UMaine assistant professor of biomedical engineering. “The opening of EEDC in fall 2022 will serve as a beacon for biomedical engineering education and innovations in the state of Maine and beyond.”

Read more.

None of the information on this website should be considered legal or financial advice. We encourage you to consult with your own legal counsel or financial/tax advisor before deciding whether or not to proceed with a gift or change to your estate plan.

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Longtime UMaine Employee Gives Back

Longtime UMaine employee gives back

 L-R: Tony and Sue Randall receive their Stillwater Society giving society recognition from UMaine Director of Athletics Ken Ralph.

Long-time friends of UMaine athletics, Susan G. Randall ’89 and Tony Randall, have established the first-ever endowment for UMaine’s field hockey team, benefitting one of the University’s most successful athletic programs for years to come.
 
After working in UMaine’s central administration for 25 years, Sue Randall made the jump to work in the athletic department as an athletic business manager in 1995. Despite thinking she would only be working in athletics for a couple of years, she grew to love working in finance for the department.
 
“When I came down to athletics, I didn’t think I would be staying,” said Sue Randall. “I thought maybe a couple of years. I really loved what I was I doing. I wanted to get more involved with the sports programs. That was an important piece for me.”
 
Sue would be promoted to the role of Assistant Athletic Director for Business, serving in that position until her retirement in 2015. When field hockey head coach Josette Babineau was hired in 2007, Randall was an athletic administrator for field hockey. Working in finance for the athletic department for 20 years, while having a strong relationship with the field hockey program, showed Sue and Tony the need to create an endowment.
 
“We are grateful to Sue and Tony for their generous support of our field hockey program,” said Senior Associate Athletic Director for Development Seth Woodcock. “It is especially humbling to see a gift come from a long-time athletic department employee, who has a firm understanding of the importance of endowment building for our programs.
 
“The Randall’s are true and loyal fans,” Woodcock continued. “It is common to see them at games cheering on our Black Bears. The creation of their endowed fund in support of field hockey is forward thinking, as it is a meaningful gift that will impact one of our most successful programs immediately and well into the future.”
 
The endowment will help the program with operations costs, and donations to the fund will benefit the program for the long-term. Babineau and her lone assistant, associate head coach Michelle Simpson often have to hold clinics and camps on nights and weekends to help offset program costs.

“Our program is so fortunate to have great friends like Sue and Tony,” said Babineau. “They have formed great relationships with our players and their families. Sue and Tony understand the work that goes into creating a great team culture and a competitive program. Their friendship and support enhance our players’ experience in our program. This incredibly generous gift will continue to benefit our program for years to come. Thank you very much to Sue and Tony for their commitment to field hockey and women’s athletics.”
 
The endowed fund will grow with the help of donations. The field hockey team had a very successful season in 2018, finishing with a 16-5 overall record, advancing to the America East Championship game for the second time in the last four seasons. The high-octane Maine offense ranked fifth in the nation in goals per game (3.57 goals per game) and 13th in the country in goals allowed per game (1.38 GAA). Maine was nationally ranked the entire campaign, finishing at No. 19 in the final Penn Monto/NFHCA Coaches Poll of the season. 2018 marked the fifth time in the last eight seasons that the Black Bears ended the season nationally ranked.
 
“This is a way to really invest in the future success of field hockey,” continued Randall. “Working with the foundation, the endowment will go a long way with the help of the operations cost with the program. Every little bit counts and will add up.”
 

 

None of the information on this website should be considered legal or financial advice. We encourage you to consult with your own legal counsel or financial/tax advisor before deciding whether or not to proceed with a gift or change to your estate plan.

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