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UMFK President Cost sees more active role for University Foundation

January 24, 2003

NR03010

The University of Maine at Fort Kent Foundation will be a pivotal player in future development on campus according to President Richard Cost who is preparing to meet with the group on Friday, January 31, at 8:00 a.m. in the Nadeau Hall teleconference room.

The Foundation was established in 1990 to raise funds to support UMFK initiatives that benefit students and faculty. A rapidly growing campus community coupled with a state budget crunch that is impacting the entire University of Maine System, has made that role more important than ever.

"We want to ensure that the campus is working with the Foundation in a way that allows the organization to be as effective as possible. The work of the Foundation can only enhance the quality of education offered at UMFK and make the campus accessible to a greater number of students," said Cost.

The board will hear a campus update from Cost, including details on where UMFK stands as an institution in terms of staffing, budgets and core programs.

The university president will also provide details on a system-wide program to administer charitable gift annuities on behalf of UMFK and the other six university campuses, and the potential impact of such an initiative.

He will also report on the progress of the university's annual fundraising campaign, which is currently underway.

Cost is very familiar with college and university development, fundraising and foundation work.

"Involved, energetic volunteer boards are the key to successful fundraising efforts," Cost noted.

Prior to joining UMFK, he served as vice president for institutional advancement at Bridgewater State College, a public comprehensive college of 9,000 students serving southeastern Massachusetts. His responsibilities at the institution included fund raising, public affairs, alumni relations, and for three years, admissions.

In his capacity at Bridgewater he also served as executive director of the college's foundation. He is credited with creating a successful development office that raised over ten million dollars.

Before joining Bridgewater, Cost served for six years as vice president for institutional advancement at Moravian College, a small liberal arts school of 1,200 students in Bethlehem, Pennsylvania. There he directed a capital campaign that raised $24 million. He established a college record by raising $7.8 million in a single year.