SUNY Maritime College Annual Report 2021-2022

A SNAPSHOT OF SCHOLARSHIPS AND AWARDS Funding a student’s education is among the most important contributions one can make toward student success in higher education. From fiscal year 2018 2019 through fiscal year 2021-22, the SUNY Maritime Foundation, Inc. has distributed almost $5 million in student scholarships and awards. FY ’19 $ 806,239.54 FY ’20 $ 1,286,868.35 FY ’21 $ 1,615,996.23 FY ’22 $ 1,288,339.39 TOTAL $ 4,997,443.51

ALFULTIS FAMILY SCHOLARSHIP A two-prong strategy In their first year at Maritime College, Michael and Kim Alfultis established the Alfultis Family Scholarship to benefit a student with demonstrated financial need who would bring greater diversity to the College campus and maritime industry. Recognizing it would take several years for their monthly pledge payments to reach the $25,000 minimum for an endowed fund, and even longer to produce a sizable scholarship award, they developed a two-pronged strategy. To allow all the investment returns to remain in the fund and grow, the Alfultis’ have written a check every year for $5,000 to fund their scholarship award outright. Meanwhile, their monthly gifts to the scholarship endowment coupled with additional personal funds totaled $59,970, but with investing, the Fund is worth $74,000. Kim Alfultis, who retired from a senior position in the Connecticut State Treasurer ’s office, said, “We worked hard throughout our lives and have been incredibly fortunate. It means so much to us to be able to pay it forward. I’m especially pleased to see how quickly the principal has grown and know that someday our fund will be substantial enough to impact more than one student.” To date the Alfultis’ have contributed over $150,000 to the Maritime Foundation, the College, and Summer Sea Term scholarships.

In the 2021-2022 fiscal year, the Maritime College Alumni Association awarded over $489,000 in Summer Sea Term Scholarships to 94 students in the Regiment of Cadets. An additional $6,000 in non-Summer Sea Term scholarships were awarded in the 2022 fiscal year.

IN TOTAL, ALMOST $500,000 IN SCHOLARSHIPS WAS AWARDED TO 96 STUDENTS BY THE ALUMNI ASSOCIATION.

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