While just two decades ago the annual allocation from the state made up over 50% of the Academy’s annual budget, this coming year that percentage stands at just 33%, leaving a gap that can be made up in only one of two ways: tuition & fee increases or increases in our fundraising efforts. Given the growing financial hardship on families and cadets the Academy has decided to embark on a fundraising campaign,
A Rising Tide: The Campaign for Massachusetts Maritime Academy is a $50 million, ten-year Comprehensive Fundraising Campaign.
This funding will be used in three strategic program areas:
- $20M will be raised to help build our endowment to support faculty chairs and Centers for Excellence to name a few
- $20M will be used for capital improvements to include the expansion of Alumni Gymnasium, the renovation and addition of laboratories, upgrade classrooms, and the investment in new simulation
- $10M will go towards scholarship to provide much needed relief to our current and future cadets from everything from need-based Scholarships to Sea Term and Experiential Learning scholarships.
This bold goal will require the tireless dedication of everyone in the MMA community: every alumnus, parent, friend and corporate or foundation partner. The success of our campaign relies on everyone. Every gift is important and will help us reach our $50 million dollar goal