Winter Olympics training hub restores some funding
The Maine Winter Sports Center has pulled in $1.1 million in fundraising, sponsorships and gifts after losing a major financial supporter earlier this year.
The funds come after the Libra Foundation ended its 15-year financial relationship with the center earlier this year. It had created an uncertain future for the center that has provided its Nordic ski venues in Northern Maine as training grounds for Olympians in the past. The Libra Foundation had been covering nearly two-thirds of the center’s $885,000 annual budget, according to The Bangor Daily News.
A large portion of the new money comes from a $100,000 gift and a $355,000 matching gift from Mary Barton Smith, a Presque Isle native. The center has matched Smith’s $355,000 gift through fundraising. The center also has obtained $250,000 in long-term sponsorships and $55,000 in gear lease revenue.
"We needed to know what our funding was going to be in order to plan for the upcoming season," Andy Shepard, president and CEO of the center, said. "Thanks to the remarkable generosity of Mary and the people of Maine, including a sizable donation from Fort Kent native, Phyllis Jalbert, we are in a position to start the season with confidence.”
Shepard said the center is seeking to raise approximately $45,000 more toward its $400,000 goal, which would allow Smith to increase her matching gift to that amount. He said Smith has extended the deadline on fundraising to allow other potential donors to consider contributing.
With the needed funding secured for the 2014-2015 season, the Maine Winter Sports Center will shift its focus to long-term sustainability. This will include sponsorship revenue, foundation support and the creation of an endowment.
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