CARRABASSETT VALLEY ACADEMY RECEIVES $1 MILLION CHALLENGE FROM THE HAROLD ALFOND FOUNDATION FOR NEW CAMPUS CAMPAIGN
Carrabassett Valley Academy (CVA) announced today that it has been awarded a $1,000,000 challenge from the Harold Alfond Foundation to support the academy’s new King Cummings Campus. This substantial commitment from the Harold Alfond Foundation serves as a tremendous catalyst for the Academy’s efforts to eliminate debt incurred to finance construction of its academic center and create a new student center.
Greg Powell, chairman of the Harold Alfond Foundation, said “The decision to support CVA was based on our belief in CVA’s mission at the nexus of outstanding athletics and education, and the importance of CVA as an economic driver in western Maine. What was once a small school is now a world-class ski and snowboard academy with a 30-year track record of success.”
In 2000, CVA’s leadership and supporters recognized the need for new facilities. Their vision was to develop a modern and purpose-built campus to accommodate CVA’s outstanding programs. The initial phase of the New Campus Campaign was completed in 2008 and resulted in the acquisition of land, construction of a dorm, creation of a soccer field/track and growth of the school’s annual and endowed scholarship funds. Kate O’Halloran, CVA’s Director of Development and Alumni Connections, said “Under the stalwart leadership and guidance of alumna Kate Webber Punderson ‘89 and the generous and loyal support of our donors, we are forging ahead toward the completion of our $15 million new campus, located off the Sugarloaf access road.”
The first phase of the Alfond Challenge calls for CVA to raise $536,000 in matching funds to eliminate the remaining debt incurred to finance construction of its academic center. Once the matching funds are secured, the academic center will be formally named to honor Peter and Martha Webber, whose vision and hard work on behalf of CVA laid the foundation for the Academy. CVA anticipates that will happen next winter having raised $135,000 in new matching gifts and commitments in the first week of the Challenge.
CVA is also working with the Foundation on what would be an additional $500,000 capstone (completion) gift for the planned construction of a student center, which will be the third building on the King Cummings Campus. To be considered eligible for that grant, CVA must first eliminate the academic center debt and provide the Foundation with updated plans for the student center.
Earle Morse, chairman of the board at CVA, said, “We are so grateful for the support of the Harold Alfond Foundation. This gift moves us closer to our goal of making a full operational shift to the King Cummings Campus by 2020. Our new facilities, combined with our extraordinary athletic and academic programs, will help us attract the most talented student athletes from the great state of Maine and around the world.”
About Carrabassett Valley Academy: CVA emerged from the Sugarloaf Regional Ski Educational Foundation, which began operations in 1969 to help racers and freestylers sharpen their skills for competitive skiing. In the winter of 1982/83, CVA began operations with 15 students enrolled in a program designed to provide young athletes with high quality academics while allowing for focused time on the mountain. CVA is committed to creating responsible, hardworking graduates who excel in college and a wide range of careers. 92% of CVA students are accepted at their first choice college, including Dartmouth, Middlebury, Tufts and Colby. For more information, please visit gocva.com.
About The Harold Alfond Foundation: Founded in 1950, the Harold Alfond Foundation furthers the philanthropic legacy of Harold Alfond, the founder of Dexter Shoe Company and a longtime supporter of Maine communities in which he and his family worked and resided. Harold Alfond awarded matching challenge grants to organizations to build community partnerships and to inspire and leverage additional giving by others. He ensured that his philanthropy would live on by committing nearly all of his wealth to the Foundation, which continues to support charitable causes in the State of Maine. The Foundation applies Harold Alfond’s business approach to funding decisions, his belief in teamwork, and his love of competition by continuing to award matching challenge grants to projects that meet a demonstrable need, are entrepreneurial, promote teamwork, have measurable performance outcomes, are financially viable, and have quality management and board leadership.