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RSU 5 board approves agreement letting Freeport High School Scholarship Foundation manage Stetson gift
Summary
The RSU 5 Board of Directors voted to authorize an agreement that places the roughly $3.6 million Stetson scholarship gift under the management of the Freeport High School Scholarship Foundation, with conditions that let the district reclaim funds if needed and require an annual report.
The RSU 5 Board of Directors on Wednesday approved an agreement to have the Freeport High School Scholarship Foundation manage a multiyear scholarship gift from the Norman B. Stetson Trust.
The board voted to approve the agreement and authorized the superintendent to sign it on behalf of RSU 5. The motion was made by Cheyenne and seconded by Colin; the board approved the measure by voice vote.
Superintendent Jean (last name not specified) summarized the background: the board previously voted on Feb. 28, 2024, to accept a roughly $3.6 million gift from the Norman B. Stetson Trust and took steps to receive the funds. An initial disbursement of $3,081,012 arrived in May 2024, and district staff discussed options for managing the scholarship funds. The superintendent recommended the Freeport High School Scholarship Foundation manage the account because the foundation provides a sustained mentor experience for recipients that the district said it could not offer directly.
Jen Goletta, president of the Freeport High School Scholarship Foundation and a former RSU 5 board member, told the board the foundation began in 2021 to address limited postsecondary scholarship funding for Freeport High School students. She described the foundation's model: two scholarships for students bound for four-year colleges ($5,000 per year for four years) and a separate technical/trade scholarship of $4,000 per year for up to three years. Goletta said the Stetson gift would allow the foundation to multiply the number and size of awards.
The draft agreement presented to the board says the foundation will provide an annual written report to the RSU 5 board and that the district retains the ability to terminate the partnership and receive remaining funds if necessary. The foundation's board will include the Freeport High School principal as an ex officio member, a requirement the foundation already maintains for a separate donor fund (the Cushing fund).
Board members asked about award criteria and whether the district would retain any involvement. Foundation leaders and the superintendent said current practice includes financial-need consideration, academic record, community involvement and demonstrated barriers; juniors and seniors may apply. The foundation's board will set detailed criteria, but board members asked that the district receive an annual update about criteria and award decisions.
The board recorded no changes to the draft agreement at the meeting and voted to authorize the superintendent to sign. The approved motion directs the secretary to file an attested copy of the agreement with the meeting minutes.
Board members and foundation leaders also emphasized outreach: the foundation and the school said they are distributing application materials via the guidance office, class visits and the school website to ensure students know how to apply.
The agreement and the foundation's reporting requirement were central to the board's approval; no changes to the distribution model were adopted at the meeting.
