University of Maine Foundation annual meeting

October 19, 2011 News

The University of Maine Foundation held its 77th annual meeting on Wednesday, Oct. 5, 2011 at the university in Orono.

Ellen Stinson, who was re-elected as Foundation board chair, told the more than 250 guests that the Foundation experienced a 20 percent return on investments in the fiscal year that ended June 30, 2011.  The Foundation’s total assets grew by $26 million, to $184 million.

In addition to Stinson, the following officers were elected by the board:

Gregg M. Piasio, Falmouth, Vice Chair
John I. Simpson, Bangor, Treasurer
Amos E. Orcutt, Bangor, Assistant Treasurer/President
Patricia M. Dunn, Scarborough, Secretary
Brent Slater, Bangor, Clerk

University of Maine Cooperative Extension Executive Director John Rebar was the keynote speaker. Rebar, who has been a member of Extension’s administrative team for 17 years and executive director since 2009, gave a presentation, “4-H, the first time a student joins UMaine.” Jodi Harnden, a former 4-H participant who is currently a UMaine student, shared her experiences with 4-H and the path that led her to the university where she is a double major in mathematics and secondary education mathematics.

Stinson also announced that Foundation President and CEO Amos Orcutt plans to retire in 2012.

“Whatever Amos does, he does it with style and class, so I think we can expect his transition from president/CEO to retirement to be seamless,” Stinson said.

In accordance with the succession plan adopted by the board, a national search will be conducted for Orcutt’s successor and a search committee, chaired by board member Darryl Brown, has been appointed.  In addition to board members, UMaine President Paul Ferguson and UMaine Alumni Association Board Chair Kurt Marston will also serve on this committee.

“We are confident that we will identify a new president/CEO who, building upon Amos’ good works, will lead the Foundation to its next level of success,” Stinson concluded.

The University of Maine Foundation is an independent, non-profit 501 (c) 3 organization.  Established in 1934, the Foundation exists to encourage gifts and bequests that nurture academic achievement, foster research and elevate intellectual pursuit at the University of Maine.

Oct. 19, 2011
Contact: Amos Orcutt, University of Maine Foundation President/CEO (207) 581-5100