University of Southern Maine

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USM Annual Fund Tops $1 Million

August 14, 2006

The University of Southern Maine Annual Fund has broken the $1 million mark for the first time in the university's history. 

The recently concluded Annual Fund campaign recorded a total of $1,026,554 in gifts from alumni, friends, staff, foundations and businesses. The $1 million total is a 14 percent increase over the 2004-2005 Annual Fund of $900,214. Annual Fund totals have increased steadily in recent years. The 2002-2003 fund raised $814,350, while the 2003-2004 fund recorded a total of $860,514.

The number of gifts in the 2005-2006 Annual Fund increased from 3,515 last year to a new total of 3,966.

USM's Annual Fund helps provide scholarships, faculty development monies and support for programs across every USM school and college. More than 350 scholarship awards are given to USM students annually thanks to Annual Fund gifts. Some 70 of those scholarships are supported solely by the Annual Fund. "The Annual Fund is an especially important show of community support for this university," said USM President Richard L. Pattenaude. "A successful Annual Fund is a sign of a growing and healthy university."

Chip and Laura Foye of Cape Elizabeth, USM classes of 1990 and 1987, respectively, served as co-chairs of the 2005-2006 Annual Fund. "We are proud as alumni to have the opportunity to take a leadership role in the campaign," said the Foyes. "The success of the campaign is a testament to how strongly people feel about the importance of USM." Chip is a Senior Vice President and Laura serves as a Senior Group Vice President of TD Banknorth.

The record Annual Fund follows a recent announcement that The Kresge Foundation awarded the university a $750,000 challenge grant to help fund construction of University Commons. The Commons will be located on university-owned land along I-295 in Portland, between USM's Abromson Community Education Center and the Glickman Family Library. It will be the building site for the USM Muskie School of Public Service and the national headquarters of the Osher Lifelong Learning Institute; an expanded Osher Map Library and Smith Center for Cartographic Education; and a redesign of the Glickman Family Library's first floor. The Commons also will feature a public promenade along Bedford St. 

The Kresge Foundation's grant is contingent on the university raising $3.1 million by June 30, 2007. The $3.1 million balance is the amount required for USM to reach its campaign goal of $20 million in private donations.

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