Originally published in Castine Patriot, October 8, 2020
MMA to receive $750,000 in scholarship funding
William Brennan, President of Maine Maritime Academy (MMA), announced recently 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 percent in annual fund giving over three fiscal years. The campaign, called Vision 20|20, raised over $2.7 million and reached 24.5 percent alumni participation by June 30, 2020.
“We have increased our alumni participation rate by 15 percent in the last decade, which is a significant accomplishment,” Brennan said in a news release. “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.
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.