SUNY Maritime College 2019-2020 Annual Report

SCHOLARSHIPS AND ENDOWMENTS

Meeting Short and Long-term Students’ Financial Needs

I n an effort to strengthen the solutions have provided much- needed financial assistance to students. During an academic year that was abruptly halted and a Summer Sea Term that required modification by the onset of the novel coronavirus 19 (COVID-19), scholarships and the generosity of donors abounded. As an immediate response to the pandemic and the subsequent economic devastation, the College launched a campaign specifically created to provide aid to students who experienced financial hardship due to loss of family income. The One Hand Student Relief Fund campaign is a multi-year funding effort to relieve the growing financial stress encountered by many Maritime College students. Endowed funds, established in perpetuity with gifts of $25,000 or more, serve as a viable long- term mechanism of supporting students in financial need. To date, over thirty endowed funds have been established at the College, College’s financial footing, short and long-term philanthropic

which benefit students through scholarship support and by underwriting academic program enhancements. The 2019-2020 academic year witnessed the growth of endowment funds with the establishment of two scholarships in memory of recent graduates.

aid by matching the $750K in Federal CARES Act funding received by the College. The Maritime College Alumni Association was quick to respond and donated substantially towards the One Hand Fund and provided additional scholarships for Pier Side Training. “Fort Schuyler alumni embody the concept of One Hand and now is the time to come together to lend a hand to current students in need,” said Maritime College Alumni Association President John Valvo ‘83. An early lead donor to the Fund was Mike Toner ’65, former Executive Vice President Marine Systems at General Dynamics Corporation, who stated, “Carol and I are happy to support the One Hand Fund. My education at Fort Schuyler, particularly Summer Sea Term, provided an opportunity like no other. It’s where we learned to depend on ourselves and our shipmates. Students today have that same opportunity to mature, take calculated risks in a safe environment, grow up, learn responsibility, and develop self- esteem. Supporting the One Hand

“My education at Fort Schuyler, particularly Summer Sea Term, provided an opportunity like no other. It’s where we learned to depend on ourselves and our shipmates.” –Mike Toner ’65

“One Hand” is based on the notion of maintaining a firm grip on a ship’s rail and offering one hand to a fellow mariner in need. The purpose of the Fund is to provide a financial lifeline to any student who needs support with tuition, room, board, or Summer Sea Term costs. “The economic impact of the pandemic is quickly driving Maritime College toward the rockiest of shoals, threatening the educational progress of today’s students,” said RADM Michael Alfultis. “Now is the time that we need every graduate and friend of Maritime College to extend that proverbial One Hand to our students.” The goal is to provide $1.5 million in additional student

12 Annual Report 2019-2020