Husson University announced it has concluded its first comprehensive capital campaign, raising $38 million in cash and pledges.

The largest single donation was a $4 million matching gift challenge from the Harold Alfond Foundation. The funds will be used to commit $8 million toward a new building for the private university’s business college on its Bangor campus, Husson said in a news release.

Funds from the campaign also will be used to create 51 new endowed scholarships, giving Husson students more opportunities for financial aid, it said.

The campaign also strengthened the institution’s endowment, helping to ensure the financial strength and security of Husson for years of come, it said.

Husson University’s College of Business is the largest business school in Maine.

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