Maine Maritime Academy Surpasses Challenge from Harold Alfond Foundation, Receives $750,000 in Scholarship Funding
CASTINE, Maine—Dr. William J. Brennan, President of Maine Maritime Academy (MMA), announced today that the college exceeded the goals of a three-year challenge from the Harold Alfond Foundation, resulting in a $750,000 grant to MMA’s Harold Alfond Engineering Scholarship Fund.
In 2017, the Alfond Foundation challenged MMA to raise a cumulative total of $2.25 million and increase the alumni participation rate to 20% in annual fund giving over three fiscal years. The campaign, called Vision 20|20, raised over $2.7 million and reached 24.5% alumni participation by June 30, 2020.
“We have increased our alumni participation rate by 15% in the last decade, which is a significant accomplishment,” said President Brennan. “This momentum, due in large part to the challenge and the energy of our alumni, will propel Maine Maritime Academy toward the goal of creating a culture of giving to ensure the school’s sustainability well into the future.”
Approximately 80 percent of MMA students require need-based scholarship assistance annually.
“We are extremely grateful for our outstanding staff and our dedicated Alumni Advancement Committee, a group of 38 alumni volunteers who emailed, called, wrote letters, and reached out to classmates via social media to encourage support for the academy,” said Capt. Larry D. Burrill ’77, Alumni Advancement Committee Chair.
The $750,000 grant will be added to the Harold Alfond Engineering Scholarship Fund, established in 2014. The endowed fund gives preference to Maine residents and first-generation college students who have earned at least a 3.3 high school cumulative grade point average (GPA) and have no final grade below 2.0 (C) in any course. Scholarships are renewable for 8 to 10 consecutive semesters (depending on major) while maintaining a minimum cumulative GPA of 3.0 or higher.
“We are so pleased that Maine Maritime Academy not only met this challenge, but substantially surpassed it,” said Harold Alfond Foundation Executive Chairman, Greg Powell. “Our goal was to assist the Academy in creating a culture of giving, and by raising well over the challenge goal of $2.2 million and reaching 24.5% alumni participation, this fine school is well on its way.”
Maine Maritime Academy is a co-educational, public college on the coast of Maine offering programs of study in engineering, management, science, and transportation. The college serves approximately 950 undergraduate and graduate students in career-oriented degree programs. The job placement rate for MMA graduates regularly exceeds 90 percent within 90 days of graduation and the college is consistently recognized for providing a high-value education by organizations such as the Brookings Institution, Washington Monthly, and U.S. News and World Report. For more information, visit mainemaritime.edu.
Founded in 1950, the Harold Alfond Foundation furthers the philanthropic legacy of Harold Alfond, the founder of Dexter Shoe Company and a longtime supporter of Maine communities in which he and his family worked and resided. Harold Alfond awarded matching challenge grants to organizations to build community partnerships and to inspire and leverage additional giving by others. He ensured that his philanthropy would live on by committing nearly all of his wealth to the Foundation, which continues to support charitable causes in the State of Maine. For more information, visit haroldalfondfoundation.org.