Annual Report FY 2019 - CMA Edu · Annual Report FY 2019 ... Internship stipends are provided to students working as interns at domestic, maritime companies that are interested in

Annual Report FY 2019

• Mission Statement: To foster future maritime professionals bypromoting and supporting maritime related education throughfinancial assistance, events and initiatives.

• History: The CMA Education Foundation continues the support offuture leaders of the maritime industry that was initiated by thecreation of the Connecticut Maritime Association in 1984. Since2011, the CMA Education Foundation, a 501c(3) tax-exemptnonprofit organization, has awarded scholarships, hosted industryresearch paper competitions and subsidized internships atmaritime companies.

• Support and Engagement Opportunities: The CMA EducationFoundation appreciates all donations to fulfill our mission andincrease the level of financial assistance provided to the maritimeindustry. By working with the Connecticut Maritime Association,the CMA Education Foundation provides opportunities formaritime professionals to get involved through the internship andscholarship programs. Maritime professionals are also invited tojoin the Board or become a mentor to a scholar.

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Mission, History and Opportunities

Thank you to the donors, partners and friends of the CMA EducationFoundation; you helped to make 2019 our best year ever.

With your support and generosity, our educational outreachexpanded while strengthening our long-term financial position andincreasing CMA membership giving.

The CMAEF continues to empower scholars and interns by givingthem the financial support to finish their studies and begin careers.

With your help, we can promote and support maritime relatededucation and have awarded over $351,000 in scholarships to highschool seniors, college students and graduate students participating ina maritime related field of study who demonstrate their interest inthe shipping industry. In addition, we have awarded over $168,000 ininternship stipends since 2011.

You should feel proud to have built a Foundation that is having apositive impact on future generations of shipping professionals.

On behalf of all of us at the CMA Education Foundation, thank you forsharing our vision of making maritime education and the shippingindustry more accessible to our future leaders.

Again, thank you; your commitment and support is appreciated.

Sincerely,

Brad L. Berman

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From the Board President

• Scholarship Program: The CMAEF Scholarship Program provides financialsupport to students who are excelling in maritime studies in college orgraduate school and to high school seniors who are interested in pursuingmaritime studies in college or a maritime career after high school. Each year.top awards of $10,000 are paid directly to schools as tuition reimbursementScholarships. Multiple one-time Scholarship Awards ranging from $1,500 -$5,000 are awarded and made payable directly to the student. Applicationsare reviewed by the CMAEF Board of Directors. Winners are based onacademic achievement, quality of essay, letters of recommendation andthose who best demonstrate their interest in a career in the maritimeindustry.

• Intern Program: The CMAEF supports the hands-on learning that occursoutside of the classroom at maritime companies and encourages thedevelopment of future maritime professionals. The Program allows CMAmembers to connect with those embarking on maritime studies and careers.Internship stipends are provided to students working as interns at domestic,maritime companies that are interested in pursuing a career in the maritimeindustry. Applications accepted on a rolling basis.

• Business of Shipping Competition: In partnership with the CMA, studentsattending U.S. colleges and universities with programs and/or courses on theshipping industry, international trade, marine transportation, marinescience, and marine engineering submit papers on industry topics. Winningstudents present their papers at the CMA’s annual Shipping Trade Show andConference. To qualify a student must be an individual working towards abachelor’s or master’s degree at a US university or college. All papers mustbe original manuscripts and the topics should have practical application toindustry problems, issues, or policies. All topics related to the Business ofShipping are acceptable. Individuals from academia and industry review thepapers, and three papers are selected and awarded certificates, with a firstplace award of $2,500, second place award of $1,500, and third place awardof $1,000. The awards are courtesy of d’Amico International Shipping.

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Programs

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$39,500 Awarded to Students: September 2018$10k: Rebecca Pskowski, Tulane U. Law School$10k: Tajae Harripersad, SUNY Maritime$5k : Serge Ntchawok, SUNY Maritime$2,500 : Samuel Ney, US Merchant Marine Academy

8 $1,500 Finalists: Sydney Adams, Matthew Freitas, Michael Fuhrman, Margaret Handel, Joey Kasper, Mark Daniel McEldowney, Jacob Ruggles, Andreas Stasinopoulos

Scholarships FY 2019

$43,000 Awarded to Students: June 2019$10k: Stephanie Rota, SUNY Maritime$7,500: Seth Pardi, MASS Maritime$5k: Trevor Achee, Great Lakes Maritime Academy$2k: Habtamu Eshete, SUNY Maritime

5 $1,500 Finalists: Liam Cashmore, Anders Marius, Samuel Ney, Serge Ntchawok, Peter Wiley

11 $1k Finalists: Justin Baker, Charles Falotico, Nolan Hayden, Caleb Johns, Daniel Lindner, Nikolas Manatakis, Matthew Reynolds, Bridget Stack, Owen Sullivan, Noah Taylor, Reese Titmus

As a result of moving the Awards Luncheon from September to June there were 2 years of scholarships awarded in FY 19.

Scholar Spotlight: Rebecca P. Pskowski1st Place Scholarship Winner

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“The development and maintenance of a strong U.S. merchant marine,and of strong legal frameworks in support of that fleet, is essential toour national security and prosperity. Specialist study of maritime andadmiralty law is an investment in the strength of the maritime sector,and in our larger social and economic stability as a nation. I amhonored to be a part of this great industry, and eager to see thetechnological, legal and economic developments that lie ahead.”Rebecca P. Pskowski

Rebecca is currently working as a civilian attorney advisor working for

the Chief Judge of the Court of Criminal Appeals at the national

headquarters of the US Coast Guard. Rebecca aboard the CT River Museum’s Onrust, a replica of Adrian Block’s vessel- 1 of the 1st western style ships built in the New World & 1st ever to sail up the CT River.

Scholar Spotlight: Serge Monthe NtchawokSeptember 2018 & June 2019 Winner

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“Dear CMAEF Board: I really want all of you to know how helpful the scholarships have been for me in this venture. The cost of education is so high and your help is so much meaningful to me. This summer I have been on summer sea term. I have successfully taken both my 3rd and 2nd class assignments. I have now upgraded to 1st class. I am now working to raise my GPA to be more attractive in the job market. I expect to graduate in September 2020 after my 1st class summer sea term. I would like again to extend my gratitude to the CMA Education Foundation.” Serge Monthe Ntchawok

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• Bridgeport Regional Aquaculture Science & Technology Center

• The California Maritime Academy• Kingsborough Community College• Maine Maritime Academy• Massachusetts Maritime Academy• SUNY Maritime College• Texas A & M University Maritime Academy• Tulane University Law School • The Sound School• United States Merchant Marine Academy• Webb Institute

Participating High Schools

Participating Undergraduate & Graduate Schools

• Bunnell HS, CT• Greenwich HS, CT• Homer HS, NY• Howe’s Military Acad., IN• Marine Sci. Magnet HS, CT• Marshall HS, MA• New Milford HS, CT

• New Rochelle HS, NY• Oak Ridge HS, TX• Pocono Mtn. East HS, PA• Sound School, CT• Stevens Point Area HS, WI• St. Paul’s HS, LA• White Cloud HS, MI

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Participating Schools

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Interns FY 2019

$30,600 to 23 interns at 13 companiesAlexis Adams

Becca AlceniusAriana BaroneAngela Camara

Erika DodgeMary Dushay

Joseph FirrincielliJames Gross

Emily HermannStephanie Jordan

Lucas MannMatthew McKean

Jake MeniceZach Parilla

Luke PetersonAlexander Quivelli

Caitlan ReillyAlex Schwinn

Christine SpencerCatherine Teige

Kyle TeseiJohn VerwoertNoam Yakoby

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Interns FY 2019

$30,600 to 23 interns at 13 companies

Career Day: Brien McMahon High School, Norwalk, CT

As part of the Marine Science Pathway program at BMHS, CMAEF BoardMembers & other maritime professionals led a Career Day for Juniors & Seniors.They shared their career paths & various opportunities in the shipping industry.

“The CMA EF is one partner working with us to expose students to relevantcareers as well as provide a greater knowledge of post secondary educationoptions including regional maritime academies. The presentation (made by theCMAEF Board Members) opened the eyes of not only the students but the staffas well. Being exposed to the techniques and technology that are current andrelevant in the diverse Marine Science field has certainly sparked manyconversations and follow up with the guidance counselors.

On behalf of all involved in our development of the Marine Science Pathway atBMHS, thank you all. By providing opportunities like the Career Day, you havecertainly helped us in increasing student awareness and engagement acrossmany disciplines as they prepare for life after high school.”

Thomas Seuch, Science Dept. Chairperson, BMHS

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Samantha Evangelista from Q88 presented at Career Day.

Industry Research Paper Awards FY 2019

In partnership with the CMA EF, the CMA manages abusiness of shipping competition for students at UScolleges and universities with programs and/or courseson the shipping industry, international trade, marinetransportation, marine science, and marineengineering.

$5,000 Awarded at the CMA Shipping Conference

1st Place $2,500: “The Impact of the Blockchain on the Maritime Trade” by Andreas Stasinopoulos, SUNY

Maritime

2nd Place $1,500: “US & Chinese Trade War & its Effect on the Soybean Trade” by Luke Germanankos, Samuel

LePage & Brendan McKeever, US Merchant Marine Academy

3rd Place $1,000: “China’s One Belt, One Road Initiative: The Premise, The Goals & the Implications” by Dean

Williams, US Merchant Marine Academy

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Financial Summary

Year Ended June 30, 2019 with comparative totals for 2018

2019 2018

Unrestricted

Permanently

Restricted Total Total

Revenues, Support and Investment

Activity

Allocation from CMA 50,000$ -$ 50,000$ 50,000$

Education Contributions - Individuals

and Foundations 29,210 - 29,210 10,501 Investment Income, Net of Investment

Expenses of $6,337 in 2019 and

$6,244 in 2018 24,853 - 24,853 31,564Fundraising Event 9,373 - 9,373 7,577

Total Revenues and Other Support 113,436 - 113,436 99,642

Expenses

Program Services:

Scholarships 85,000* 0 85,000* 30,000 Internships 30,600 - 30,600 13,200

Total Program Services 115,600 - 115,600 43,200

Support Services:

Advertising 1,250 - 1,250 - Audit and Accounting Services 10,896 - 10,896 11,116 Payroll and Payroll Taxes 26,570 - 26,570 4,326Filing Fees 1,431 - 1,431 172

Meetings 82 - 82 732 Bank Fees 218 - 218 - Office Supplies 3,433 - 3,433 45

Fundraising Event 200 - 200 1,500

Total Support Services 44,080 - 44,080 17,891

Total Expenses 159,680 - 159,680 61,091

Change in Net Assets (46,244) - (46,244) 38,551

Net Assets at Beginning of Year 279,498 500,000 779,498 740,947

Net Assets at End of Year 233,254$ 500,000$ 733,254$ 779,498$

* The month that annual scholarships are awarded was changed from September to June; therefore, there were

2 rounds of scholarships awards during the year ended June 30, 2019.

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ENGINEER DONORS - Up to $99Wajdi AbdmessihJens AlersJasmine AlvaradoChristeen Bernard DürPatrick Brennan Jr.Karl BriersJM BuchananStephen BuschEd CaruteAndrew CogginsGordon A. CooperMichael CoreyJeffrey L. CovertDispute Resolution ServicesJames DrakosPeter DrakosSveining DrivenesRichard DupuisEvangelos EffstathiouAnn FeltchIvar GramAnil GuptaLyn HarrisNicolas HaskellHans P. HenschienRichard HelmGregory HenryJohn HeussStephen Huvane

Jerome JosephLaura KellerDennis KellyMiles KulukundisHans LaueThomas LeedsRob LeventhalLouis LindeCarleen Lyden WalkerJoseph MacoTimothy MahrNaresh ManiarRobert MarzikPaul MazzarulliCornelia McCarthyJohn MiklusBirgir NilsenCharles NolfoMichael NorthmoreBen OgnibeneSteven PaganBijan PaksimaPaul PedersenKostas PerivolarisJohn Peterlin IIIHolger PetersRobert N. PritchardEnrique Puebla

Joseph SanchezShunji SasadaCesare SorioJonathan SpencerCharles TammaraRobert TitusWilliam ToivonenIngrid TottenValentios ValentisHerbert VanWyngaardenWilliam WardJames WarfieldDavis L. WrightDavid YoungApostolos ZafoliasRichard Zimmerman

Thanks to all who supported us through AmazonSmile and at our events with cash donations.

CAPTAIN DONORS - $100-$499

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Frank AlfaroneAlexandria Anagnostis

Brad L. BermanKevin Breen

Ronald DeSoizaJames DroganDiana EstevesPeter EvensenJoseph GrossBart Kelleher

Brian LeeCatherine Mancuso

Donald McBrideMolly McCaffertyMichael O’BrienPeter T. Pappas

Q88 LLCRichard ReisertJoseph Sanchez

Peter SwiftDag VonAppen

Gary VogelMark Voorham

Beth Wilson-JordanWomen’s International Shipping & Trade Association

Ian WorkmanRichard Zimmerman

Anonymous Donors

Connecticut Maritime Association

d’Amico International Shipping

John Hadjipateras

The Per and Astrid Heidenreich Family Foundation

Thank you to all of our donors.

Thank you to all of our in-kind donors who supported us with their time.

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COMMODORE DONORS - $500-2,499

ADMIRAL DONORS - $2,500+

Jack NoonanNorton Rose Fulbright US LLP

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Board of Directors

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OfficersPresident: Brad L. Berman, Berman Legal LLCVice President: Beth Wilson-Jordan, Flagship Mgmt. LLCTreasurer: Frank Alfarone, Heidmar, Inc.Secretary: Diana Esteves, Charles R. Weber Co., Inc.Education Chair: Kevin Breen, Charles R. Weber Co., Inc.

DirectorsCameron Amigo, SPI MarineHarold Boyer, Heidmar, Inc.Ronald DeSoiza, PKF O’Connor Davies LLPCatherine Mancuso, Q88 LLCMolly McCafferty, Guardian Navigation Inc.Ian Workman, Veritas Petroleum Services

Honorary DirectorsC. Sean Day, Former Chairman, Teekay Corp., CMA Commodore

Per Heidenreich, The Per & Astrid Heidenreich Family Fdn.,CMA Commodore

James R. Lawrence, Chairman, Marine Money Intl. & Founding Partner, MTI Network (USA) Inc.

Basil G. Mavroleon, Managing Director, WeberSeas(Hellas) S.A.

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For Additional Information Contact:

Christeen Bernard Dür, Executive Director,

[email protected]

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