University of Maryland Announces $10 Million Gift
12/3/2007 7:00:00 AM | Terrapin Athletics
Dec. 3, 2007
COLLEGE PARK, Md. - The University of Maryland announced today an extraordinary $10 million gift from a charitable trust established by Barry and Mary Gossett to Great Expectations, The Campaign for Maryland. Of the total, $8 million is designated for intercollegiate athletics, making it the largest private gift in Maryland Athletics history.
Barry Gossett, chairman and CEO of Acton Mobile Industries, has been a strong supporter of athletic and academic programs across the university for more than 20 years. This gift builds a foundation for perpetual support of several key areas among his wide ranging interests.
"We are deeply appreciative of the Gossett gift," said President C.D. Mote, Jr. "Barry and Mary Gossett share a deep bond with the University of Maryland. This gift reflects their continued personal commitment to this university and to Maryland Athletics in particular."
The allocation of the gift reflects the Gossetts' broad support for a variety of university projects:
• $4.5 million for athletics facilities and other priority projects;
• $1 million to establish the Gossett Family Head Football Coach Endowment;
• $1 million to establish the Gossett Family Head Men's Basketball Coach Endowment;
• $1 million to establish the Gossett Family Maryland Athletics Director Endowment;
• $1 million to establish the Gossett Family Incentive Awards Program Endowment in the University of Maryland Incentive Awards Program;
• $1 million to establish the Gossett Family Achievement Scholarships Endowment in the Office of Student Financial Aid;
• $500,000 to support the Gossett Football Team House.
"On a professional level, Maryland Athletics is extremely fortunate to have supporters like Barry and Mary Gossett," said Athletics Director Deborah A. Yow. "And on a personal level, I am blessed to consider Barry and Mary my friends. This generous gift will help elevate our programs to the next level."
Income from the endowments created by the Gossetts' gift will assure a long-term stream of resources to help maintain strong athletic programs and facilities and enhance the university's ability to attract talented students.
The Gossett Family Incentive Awards scholarship will be established at Northwestern High School in Prince George's County in recognition of the generous support to this program that targets students who have overcome significant life challenges to achieve academic success. Gossett is a Northwestern graduate.
"We feel extremely fortunate to be in a position to provide this kind of support to the University of Maryland and to Maryland Athletics," said Barry Gossett. "We are proud to be associated with it. Maryland is rightfully placed among the very best institutions in the country, and we are excited about the opportunity to help expand the resources available to deserving students across the campus."
"I have been a long-time supporter of team sports in the context of the university experience because I have found that the lessons learned there contribute to success in life - whether or not you become a Little League coach, an entrepreneur, a physicist, or a professional athlete," said Gossett. "I have certainly benefited, and my family and I want to help provide those opportunities for others."
Great Expectations, The Campaign for Maryland is the university's landmark effort to raise a record $1 billion in private support, the largest goal ever pursued by a public institution in the state of Maryland and the Washington, DC area. The philanthropic investments of this campaign will provide support to fund student scholarships, recruit and retain top faculty, enhance physical facilities and library and technology resources and reinforce excellence and innovation in both academic and intercollegiate athletics programs. This support will provide more resources for students and help make the University of Maryland a truly world-class research university; an institution with global reach and impact.
About the University of Maryland
From its pre-Civil War roots as Maryland's first agricultural college and one of America's original land grant institutions, the University of Maryland today is the flagship campus of the University System of Maryland and one of the nation's preeminent public research universities. Ranked No. 18 by U.S. News & World Report, it also has 31 academic programs in the Top 10 and 92 in the Top 25. The current faculty includes three Nobel Laureates, six Pulitzer Prize winners, 40 members of the National Academies of Science, a three-time Emmy Award winner, and scores of Fulbright scholars. Maryland is committed to excellence as the state's premier center of research and graduate education and the institution of choice for undergraduate students of exceptional ability and promise. For more information about the University of Maryland, visit www.umd.edu.
