CASTINE — Maine Maritime Academy (MMA) last week announced that it has exceeded the $20 million target for its Opening Doors, Changing Lives scholarship campaign 18 months ahead of schedule. The effort will conclude with nearly $20.5 million raised.
In 2019, the academy launched the campaign publicly with a goal of doubling the amount of scholarship aid available to students. A lead gift of $10 million from the estate of Capt. William L. Bullard (MMA ’59), the largest in the school’s 79-year history, set the pace.
“I was stunned by the generosity of our alumni, parents, friends and foundations toward this effort,” said MMA President William J. Brennan. “I owe a great deal of gratitude to our campaign steering committee and those who unselfishly made this effort a true success by helping future students who want an MMA education.”
Approximately 80 percent of MMA students require need-based scholarship assistance annually.
During the three years of campaign counting, Maine Maritime Academy experienced a 70 percent increase in the market value of its endowed scholarships. While some of this growth was a result of investment income, a large percentage was the result of gifts added to the endowment.
Maine Maritime Academy offers 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.