From the University of Maine website:
Alfond Foundation establishes endowed chaired professorship at the University of Maine in honor of Stephen King
An endowed chaired professorship in literature named in honor of best-selling author and University of Maine alumnus Stephen King will be established at his alma mater with the help of a $1 million award from the Harold Alfond Foundation.
The Stephen E. King Chair in Literature will support a faculty position in the Department of English in honor of King’s “substantial body of work and creative impact.”
An event celebrating the King Chair is being planned for later this year.
“The Harold Alfond Foundation is delighted to make this grant in honor of Stephen King and in support of Maine’s flagship university,” said Greg Powell, chairman of the Alfond Foundation’s Board of Trustees. “This chaired professorship is a tribute to Mr. King’s outstanding literary accomplishments and his deep commitment to Maine.”
“Stephen and Tabitha King have been generous supporters of their alma mater for many years,” said Hunter. “It is now particularly rewarding to have a prestigious gift such as this that will inspire and influence current and future generations of readers and writers.”
“This gift from the Harold Alfond Foundation recognizes both Stephen King’s extraordinary career and the importance of literature in the public sphere. […] “King is an inspiration for students who are fascinated by literature and its contributions to human culture.”
Similarly, generous support for UMaine has come from the Kings and the Stephen & Tabitha King Foundation, which is devoted to promoting, strengthening and supporting Maine communities.