|
Transforming USM: The Capital Campaign
Transforming USM: The Capital Campaign was launched in April 2004 with a goal of raising $25 million ($20 million in private philanthropy and $5 million in federal/state funds). The Campaign has three goals: to grow the University of Southern Maine's endowment to ensure a solid base for the future of USM, to expand our Annual Fund, and to build University Commons. We are pleased to report that, to date, the Campaign has raised $8 million in endowed funds, handily exceeding our original goal of $3 million. The significant support by our donors to USM's endowment is testament to the belief that an investment in USM will have a permanent impression upon our community and our state. We set a goal of raising $2.5 million for the Annual Fund over a three-year period. We reported in the fall that we had exceeded our goal and had raised a total of $2.7 million. If you have not done so, please make your gift to the USM Annual Fund today!
The centerpiece of the Campaign is University Commons, a complete redevelopment of University-owned land on the Portland campus. University Commons is anchored by the Abromson Community Education Center and the Glickman Family Library. The University Commons will be home to the Wishcamper Center, designed by the Boston-based architecture firm of Koetter Kim, which will house the Osher Lifelong Learning Institute and the Muskie School of Public Service. Plans also call for an expansion of the Osher Map Library and Smith Center for Cartographic Education and a redesign of the Glickman Library, reorienting the main entrance of the library to face the campus, along with the development of a public promenade. Transforming USM Updates
The Osher Challenge In July, Dr. Harold Osher presented USM with an extraordinary challenge. He challenged USM to raise $2 million dollars by December 31, 2006. If USM met the challenge, Dr. Osher and an anonymous donor would provide a matching gift to Transforming USM. Through the generosity of many individuals, foundations, and corporations, USM successfully met that challenge.
The Kresge Foundation of Troy, Mich., one of the nation's preeminent foundations for “bricks and mortar” funding, awarded the University of Southern Maine a $750,000 challenge grant in June 2006 to assist in the funding of the University Commons project, the centerpiece of the University's capital campaign. As with all challenge grants awarded by Kresge, there are criteria that need to be met in order to receive the challenge grant. USM was challenged to raise $3.1 million by June 30, 2007 and significantly expand support from the community. To date, we have $1 million left to raise to meet the financial goal set by the Kresge Foundation. USM has seen support from the community continue to expand, as the impact of the University Commons project on the community becomes more widely known. |
