Maine higher education and Smith College receive blockbuster private gifts
Higher Education in Maine and Smith College were each beneficiaries of record-setting, transformative private gifts. The two massive gifts, totaling more than half a billion dollars, will support multiple educational initiatives by their recipients for years to come.
The Harold Alfond Foundation announced that it was donating more than $500 million for new investments to help grow Maines’s workforce and economy and support quality health care. The grant awards will be paid out over time as recipients meet certain benchmarks.
Eight recipients will receive between $5 million and $240 million each, to support their work in education, skill-building, research and job creation. According to the foundation, “supporting the goals of Maine’s 10-year Economic Development Strategy, the selected institutions will help enhance the skills of the state workforce, promote innovation and entrepreneurial solutions, and strengthen the state’s infrastructure.