Vision 20 | 20 Banner

What is Vision 20 | 20?

The Harold Alfond Foundation has challenged Maine Maritime Academy to raise a cumulative total of $2.25 million over the next three fiscal years (July 1, 2017 – June 30, 2020) and increase our alumni participation rate to 20% in 2020. When we meet that challenge, we will receive $750,000 from the Harold Alfond Foundation toward scholarships for MMA students. That’s equivalent to a 33% boost on every gift. Someone helped you fund your education. Now, you can help the next generation of mariners by contributing to the MMA Annual Fund.

Your gift of any amount helps us reach the Annual Fund Vision 20 | 20.

 

We hope the graduates of Maine Maritime will rise to the occasion and meet the Alfond Challenge as an expression of the value of their education and the importance of supporting the Academy’s continued success and excellence.

Greg Powell
Chairman, Harold Alfond Foundation

 

Why is participation important?

1)  It is not only important, it’s key: in order to meet the challenge and receive $750,000 toward scholarships for MMA students, we must reach 20% participation from MMA alumni.

2)  20% translates to roughly 1,400 alumni donors contributing annually over three years of the challenge.

3)  Financial contributions are essential to our continued success. We must raise $2.25 million in total Annual Fund contributions over the next three fiscal years in order to meet the challenge. Meeting that goal will demonstrate to potential grant, corporate, and foundation funders that our community is invested in the vision of MMA and the college is worthy of their support.

How to get involved:

  1. Give online today using your credit card
  2. Give by phone by calling the development office: 207-326-2223
  3. Give in person during your next visit to campus
  4. Or, give by mail: send your check to
    Maine Maritime Academy
    1 Pleasant Street
    Castine, Maine 04420

Annual Fund gifts are directed towards the areas of greatest need. To designate to an area of interest to you, select ‘Other’ under the designation title and note that area in the “other designation” box. (Examples: financial aid, an academic program, an athletic program or the campus.)

Thank you for giving to the Annual Fund!

Can you See It?

FAQ

Annual Fund gifts go to the primary needs of MMA in the categories of students, academics and the campus.

    • In the area of student needs, Annual Funds go to support scholarships, athletics and leadership opportunities.
    • Annual fund gifts also support academic initiatives: classrooms and labs, hands-on learning and technology.
    • On the campus, improvements to buildings and the waterfront are supported by annual fund donations, as is MMA’s fleet of vessels.

The Annual Fund provides unrestricted, discretionary funds that enable MMA to respond to immediate needs, new opportunities, and fresh ideas. In fiscal year 2018, $953,578 was raised for the Annual Fund. It would take over $19 million in endowment to generate that same level of funding for our programs in a single year. MMA’s endowment is a fund that holds its principal in perpetuity and pays out a small portion, about five percent per year, to campus operations and programs. (Here is the math: 5% of $19,060,000 equals $953,000. Five percent is the amount taken annually from the MMA endowment to add to the operations budget of the college.)

Yes. Your gift to the Annual Fund counts for your class’s participation rate and the overall MMA alumni giving participation rate. In Fiscal Year 2018, the alumni participation to the MMA Annual Fund was 13.28%.

If you designate your annual fund gift toward a certain area, it will still count in alumni participation and in the total amount raised for the annual fund. Since the specific challenge articulated by the Alfond Foundation (Vision 20|20) concerns alumni participation in the Annual Fund, gifts to the endowment and endowed scholarships will not count toward Vision 20|20 goals. The reason for this is that endowed funds, which are invested into perpetuity, are separate from the Annual Fund which contributes toward areas of immediate need.

Gifts to the Annual Fund increase financial aid in two ways.  First, donors can restrict their contributions to financial aid, having an immediate impact on students with financial need.  Second, gifts to the Annual Fund help to reduce the cost of operating the college and therefore increase the amount the college has available to award for financial aid.
Gifts to the Annual Fund help the college respond to immediate needs, new opportunities, and fresh ideas.  Without private philanthropic support to the Annual Fund, tuition would have to increase. In short, philanthropic support of the Annual Fund keeps tuition increases lower.
Gifts to the endowment and capital projects are not counted toward the Annual Fund, and certain restrictions are also placed on revenues from event-related fundraising. The Council for Advancement and Support of Education (CASE) is the leading source for best practices in educational fundraising, and MMA follows their reporting standards and management guidelines for annual fundraising and campaigns.
Yes, if you create a scholarship to be used immediately (called a “pass-through scholarship”), your gift will count toward the Annual Fund Vision 20|20. Alternately, giving to Maine Maritime’s endowment or creating an endowed scholarship, while vitally important to MMA, are separate funds and will not count toward Vision 20|20. Donors who give to the endowment or who establish endowed scholarships often donate a small additional gift toward the Annual Fund to have their participation count.

An easy way to avoid capital gains taxes while receiving the full market value of your contribution for income tax purposes is through giving appreciated stock. You can also check with your employer’s Human Resources Office to determine whether they participate in a matching gift plan. Please explore giving options and call Leah Bishop at 207-326-2223 for more information. Annual Fund gifts impact every student and every faculty member on campus. Thank you for supporting Maine Maritime Academy!

Started in 2012, National Giving Day is the global day dedicated to giving back. On the Tuesday after Thanksgiving charities, families, businesses, community centers, and students around the world come together for one common purpose: to celebrate generosity and to give. In addition to celebrating National Giving Day in November, we have our own Giving Day at MMA in the spring. This is a chance for those closest to the college—faculty, staff, and students—to support the mission of the school and show the greater community that we care.