Ellen Stinson, chair of the University of Maine Foundation Board, has announced that Foundation President/CEO Amos E. Orcutt plans to retire in 2012 after 22 years of service in that role.
During Orcutt’s tenure at the Foundation many new programs and initiatives have been undertaken. He was instrumental in the planning, design and completion of Buchanan Alumni House, which has become the architectural gateway to the UMaine campus. Under Orcutt’s leadership, the Foundation’s asset growth has been dramatic, increasing from $25 million in 1990 to approximately $200 million currently.
Over the past ten years, the Foundation raised $98.9 million and added 685 endowed funds for a total of 1,365 funds. During that same period, the Foundation paid over $54.3 million to the university in support of its students, faculty and programs. The Foundation is a separate 501(c)(3) volunteer organization providing charitable support since 1934. It is responsible for solicitation, administration and investments of endowment gifts for the benefit of the University of Maine with offices on the UMaine campus in Orono and in Falmouth.
Members of the Foundation Board praised Orcutt for his contributions and leadership in meeting the many needs of the university, management of investments and the establishment of strategic alliances improving operational efficiency.
“I have grown to enjoy a deep affection for Amos and a strong friendship with him,” says Paul Ferguson, UMaine’s president. “I value his wisdom and advice and I appreciate the well-earned and widespread respect he enjoys, based on his successful, long-term leadership of the UMaine Foundation. Through dedicated service and unyielding commitment, Amos has contributed in ways that will have a lasting impact on the university he has served so well. I wish him and Lola much happiness in retirement and I will certainly continue to enjoy our conversations in the future. Amos will always be an important part of the UMaine community.”
“He leaves the organization in excellent condition and will be missed for his energy, consistently good judgment and commitment to the mission of the Foundation,” Stinson says.
Orcutt grew up in Maine, graduating from Bucksport High School before earning a UMaine agricultural sciences degree in 1964. He is a national award recipient for outstanding leadership and excellence for institutionally related Foundations.
The Board will form a selection committee to conduct a national search for the Foundation’s next President/CEO.
“We have the utmost confidence in a seamless leadership transition,” Stinson says. “The Foundation is in a good place with a solid and experienced staff to continue serving the philanthropic needs of our alumni and friends of the University of Maine. Currently there is no established timeframe for filling the position; the Board would like the process to be as thorough and thoughtful as possible.”
Contact: Ellen Stinson, Chair of the Board
For immediate release (photo available)
October 3, 2011