Les Thomas. Family photo
A generous bequest benefits entrepreneurs, children, and the future of Maine
Les Thomas was truly a self-made man.
While he didn't have much of a formal education, the Scarborough native possessed a keen intellect and used his acumen to succeed in many business endeavors.
"Some can paint, some can sculpt. Les could make money," said friend and tax advisor Joel Bassett of Marcum LLP in Portland. "He seemed to make all the right decisions."
Thomas died unexpectedly in 2016 at the age of 56 from complications following heart surgery, leaving behind a fiancée, two children, a beloved Yorkshire terrier, and a large fortune.
One week prior to his surgery and on the advice of trusted partners, including Barry Zimmerman and Joe Mazziotti, Thomas edited his will and left what became a $6.75 million bequest to the Maine Community Foundation.
"l had various conversations with him over the years about plans for his sizable estate," said Mazziotti, a lawyer, and former Cumberland County probate judge. "l told him if he was going to put his money toward charitable organizations, put it somewhere that's going to be smart with it and do something good with it."
Thomas' foresight created a legacy that will have a lasting impact on Maine.
A big, burly man with a magnetic presence, Thomas amassed his wealth after starting his career with Dead River Company. He left Dead River to start Thomas Oil Company, which he eventually sold to his former employer. He then bought and developed self-storage and commercial properties throughout the state before founding Cash Energy, which served southern Maine.
Thomas was charming and made friends with everyone from plumbers, bank presidents, famous actors and politicians, to the commissioner of the National Football League.
Researchers from the Downeast Institute place juvenile scallops at a lobster pound in Beals. Les Thomas' bequest funded a Downeast Innovation grant from MaineCF for the researchers' study. They found scallops can successfully grow in lobster pounds, which could offer economic opportunity for Maine aquaculture. Downeast Institute photo
"He was the kind of person who people liked to be around; interesting and fun," Bassett said. "There was no better friend, but I wouldn't want to be on his bad side. He was a force in either direction."
Although Thomas left no specific instructions on how to use this gift, friends and advisors such as Bassett worked with MaineCF to direct the funds to causes that mattered to him. "It is so important for us to work with financial advisors who truly know their clients," said Jennifer Southard, vice president of donor engagement at MaineCF. "In circumstances such as this, those who knew the donor can help MaineCF direct funds in line with the donor's intent."
Thomas' transformative bequest allowed MaineCF to take a community leadership role on critical issues of early childhood development and entrepreneurship. It also supported expansion of MaineCF's Ellsworth headquarters to match the community foundation's growth.
Thomas' bequest funded $1.2 million for an addition to MaineCF's offices housed in an old train station. The project added 3,900 square feet, including staff offices and two large conference rooms for board and community meetings.
"Les believed in the importance of real estate," Bassett said. "He didn't really dabble in the stock market. He was a bricks-and-mortar kind of guy."
Unrestricted dollars from bequests enable MaineCF to direct funds where they will make the most impact. Thomas' bequest helped jump-start support for entrepreneurs like himself and give young Mainers a strong start with $1.5 million to fund the two strategic initiatives.
MaineCF's Early Childhood Community Grants allowed five communities to collect data, identify major barriers to early childhood development, and implement strategies to help children and families thrive.
The funds also supported grants to expand high-speed internet access and provide digital literacy classes across the state. Community and regional entrepreneurship training and networks to help businesses flourish grew with grant support from the bequest.
In addition to his bequest to MaineCF, Thomas' estate donates each year to a cause close to his heart: animal welfare.
"He was a big guy who always had a small dog with him," Bassett said, a paradox that seems to describe Thomas himself
"He was a force of nature and quite a guy. He was one of the most interesting clients and friends I've ever had."
The impact
MaineCF's work in these strategic goal areas, supported by Les Thomas' bequest, had a measurable impact on Maine issues.
Entrepreneurs and Innovators
$1.86 million in grants supported entrepreneurship, businesses, and broadband
3,072 people trained in digital literacy
496 small businesses supported and trained
Strong Start
$813,440 in grants
65 early childhood partners and community stakeholders
1,286 services provided
3,782 Mainers helped
