A $240 million gift to the University of Maine System is among the largest ever gifts to public institutes of higher education and will be used to invest in new facilities, scholarships and athletics over the next 12 years.
The funding is part of a $500 million investment announced by the Harold Alfond Foundation Tuesday that will provide grants of between $5 million and $240 million to expand science and technology education and workforce skills around Maine. The grants are the largest set of commitments the philanthropic organization has made in its 70-year history.
About half of the total Alfond donation will go to the U Maine System, which announced more details Wednesday on how the money will be spent. The gift is the 8th largest gift ever to a U.S. institute of public higher education and the largest ever in New England, according to a news release from the