Third-Largest Gift In UMaine History Received To Support Maintenance
A $7.9 million gift from the estate of Thomas P. Hosmer was recently received by the University of Maine Foundation to primarily support maintenance projects at the University of Maine. This is the third-largest single gift given to benefit the University of Maine.
According to Amos Orcutt, University of Maine Foundation president and CEO, more than 90 percent of the gift is designated for the Thomas P. Hosmer Fund, an endowed fund established at the foundation in 2005 to provide supplemental income for maintenance and repairs that would not otherwise be done due to budget limitations. The remainder of the gift is designated for an endowed scholarship and an endowed lab to benefit the University of Maine Department of Mechanical Engineering that are both also in Mr. Hosmer’s name.
“The fact that he chose maintenance as his legacy speaks volumes about Tom’s commitment to the university,” Orcutt says. “In fact, Tom said it best himself when he wrote in his fund description that the university is a special place and should look the part.” Orcutt adds he hopes Hosmer’s gift will help others realize that while there is always going to be a need for traditional scholarship support, there are other, less traditional ways of supporting the university that can be just as impactful.
“I am overwhelmed by Tom’s generosity,” says UMaine President Paul W. Ferguson. “His personal vision for UMaine is clearly captured in our new Blue Sky Plan that seeks to enhance our physical infrastructure through consistent funding for maintenance and repair. It is essential that our campus beauty as well as our classrooms and laboratories reflect the world class place of learning and discovery that UMaine represents.”
Mr. Hosmer graduated from the University of Maine in 1958 with a degree in mechanical engineering. He was a consulting engineer for Arthur D. Little in Cambridge, Mass., from 1965 to 2002, and from 2002 to 2004 he was a senior mechanical engineer for Nuvera Fuel Cells, Inc. also in Cambridge. He passed away in May 2011.
The University of Maine Foundation is a separate nonprofit 501(c)(3) organization that was established in 1934 and has offices on the University of Maine campus in Orono and in Falmouth, Maine. The foundation exists to encourage private support to promote academic achievement, foster research and elevate intellectual pursuits at the University of Maine in Orono and other charitable organizations and has assets approaching $200 million.
Contact: Amos E. Orcutt (207) 581-5100