The New Year brought new fundraising to UVM with the formal start of the University of Vermont and State Agricultural Foundation, Inc.

The foundation was incorporated in March 2011 with the intent of securing and managing private support for UVM, according to a university press release.

“This alliance has broad implications for the financial health of the University, and its impact will be felt throughout the institution,” Interim President John Bramley said.

The foundation is an independent organization used as the primary and preferred recipient for charitable gifts that benefit the University, the press release stated.

“We couldn’t be more pleased with the way the UVM Foundation has come together in the last year,” said UVM Foundation President and CEO Richard Bundy.

“With an outstanding Board of Directors and Foundation Leadership Council in place, capable and experienced fundraising staff and a strong and expanding base of engaged donors, we’re eager to take the University to a new level of philanthropic support,” he said.