Planned Giving

Create your legacy

Create your legacy at Massachusetts Maritime Academy by making a planned gift. Planned Giving is a type of giving to MMA that may be made during your lifetime or as part of your overall estate plans. A planned gift can be funded with cash, securities, real estate, retirement account assets, life insurance, or other assets. The benefits are that you will see state and/or federal income tax savings, possible capital gains tax savings and some can even provide you and a loved one with an income for life.

What would you like to support? Cadet scholarships? Athletics? Academics? Capital projects? Endowment? It is entirely up to you where you leave your legacy here at Massachusetts Maritime Academy. For more information about the 1891 Society making a planned gift, or customized calculations on any of the charitable gift plans, please contact Elizabeth Simmons at 508-830-6683 or

Thomas R. Aylesbury ’62
Mary & James Buckley
Leonard A. Caiger ’62 †
James B. Campbell ’62
Andrew D. Chester ’65 
Martin E. Conroy, Jr. ’75
Richard A. Covell ’67, H’17
Lynn & Stephen Cropper ’70 
Richard A. Covell ’67, H’17
Stephen '70 & Lynn Cropper
Patricia & William C. Donnell ’59, H’97 
William C. Donnell '59, H'97 & Patricia Donnell
Richard N. Finocchio ’60
John M. Gibbons ’44 †
Christopher J. Greer ’91
Kristine & P. Todd Isherwood M’11 
William C. Kelley, Jr. ’54
Colin O. Kenney ’66
Robert J. Kimtis ’60
Edward S. Kracunas ’81
Linda Kuliga
Gerhard E. Kurz H’93
Darryl M. Lahey ’86
Peter J. Lawrence ’63
Betsy † & Norman Levin
Gary L. Lowe †

Malcolm W. MacLeod ’54
Stephen G. Malley ’67
Marlene Marrocco 
Richard L. McAndrew ’76
Francis X. McDonald ’85
Karl L. Meyer ’58, H’93
Nancy & Lee Miles PR ’07
Eugene Mirabello ’57
William G. Moir ’69
Richard M. Mushet ’66, PR’98
Judith Nitsch H’10
Brendan P. O’Connor ’93 
Louis M. Ricciardi 
Robert E. Rumney ’57 
Gerard F. Scannell ’55, H’92
Elizabeth B. Simmons ’97, M’07
John F. Sullivan ’65
 Brian F. Tobin ‘86
Charlotte ’44 & John † Ventola ’44
Justin M. Vieira ’15
William L. Walker ’80*
Lee Wall
Larry Ward ’61
Hillard W. Welch †
John Westerberg ’47† 
Mary Lou Wilcox




A bequest, or gift through your will, is one of the most common planned gifts. You may designate a specific amount, a percentage of your estate, or a percentage of the remainder of your estate after all heirs are provided for or a specific asset such as personal or real property.

Sample language, “I give and bequeath to Massachusetts Maritime Academy, located at 101 Academy Drive, Buzzards Bay, Massachusetts $____ sum for support of (designation you choose, for example, scholarships or academics)” or “I give and bequeath to Massachusetts Maritime Academy, located at 101 Academy Drive, Buzzards Bay, Massachusetts,  __ % of the rest, residue and remainder of my estate to support (designation you choose, for example, general use and purposes or the Academy's greatest needs).”   



A Charitable gift annuity is a life income gift, a simple agreement between you and MMA. In exchange for your irrevocable gift of cash or securities (minimum of $10,000), MMA agrees to pay a fixed income to one or two people, each year, for life. The payments are a legal obligation of the Academy and are guaranteed by the general resources of MMA. Typically this type of gift arrangement is set up by donors 70+ because the older you are when established the higher the payment to you.



A Charitable Remainder Trust is a more flexible gift for providing for you and/or your loved ones. When you set up a charitable remainder trust (typically $100,000 or more) from your assets and you will provide benefits to you and your family. You will receive an income for life or a term of years, and an immediate tax deduction for the present value of the remainder interest of the trust and at the end of a term of years or lifetime(s) the assets will transfer to MMA for the purpose you designate.


This works by having you transfer cash or other assets to a tax-exempt organization. You then can recommend where the money goes but you may not direct it. This way you do not have to establish your own foundation but your money is still able to benefit those organizations that you are passionate about. Once you set up the Fund you receive a federal income tax charitable deduction at the time you contribute to the account.

For more information or customized calculations on any of the charitable gift plans, please contact Michelle Badger at 508-830-5045 or



Whole” or “universal” life insurance has cash value that you can donate to Mass Maritime and received a tax deduction for the present value of the policy at the time of your donation. Or you can name Massachusetts Maritime Academy as the owner and beneficiary of the policy. If the policy still has outstanding premium payments, you can continue paying those premiums and receive a tax deduction for each one.



You may donate your home or other real estate to the Academy outright for an immediate tax deduction or if you set up a Retained Life estate, you can make the gift now, realize an immediate tax deduction and continue to live in your home for as long as you wish.



Retirement funds are an increasingly valuable asset to many people and an asset often overlooked as a source of charitable giving. Since the money accumulated in IRA, 401K or 403B plan has not been taxed; the IRS levies heavy taxes on any distribution, except for a distribution to charity. If you pass away with retirement account assets, they could not only be subject to income tax but estate tax by giving through these funds you can reduce taxes for your heirs. Also by naming MMA as a beneficiary you can avoid these taxes. If you are 70 ½ years of age, the law regarding IRA charitable rollover is now permanent; you may now donate up to $100,000 from your IRA without treating the distribution as income.