Annual Report FY 2018

• 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 career fairs and subsidizedinternships at maritime 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 our donors, partners and friends; you helped to make2018 our best year to date.

With your support and generosity, we took our educational outreach toa higher level. We strengthened our financial position and increasedCMA membership giving.

The result was that we continued to empower scholars and interns bygiving them the financial support to finish their studies and begincareers.

The CMA Education Foundation continues to promote and supportmaritime related education having awarded over $268,500 inscholarships to high school seniors, college students and/or graduatestudents participating in a maritime related field of study whodemonstrate their interest in the shipping industry. In addition, weawarded over $137,500 in internship stipends since 2011.

We have come a long way on this journey and we are proud to havebuilt a Foundation that is having a positive impact on futuregenerations 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.

Your commitment and support is appreciated.

Sincerely,

Brad L. Berman

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From the Board President

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• Bridgeport Regional Aquaculture Science & Technology Center

• The California Maritime Academy

• Kingsborough Community College

• Maine Maritime Academy and its Graduate Program

• Massachusetts Maritime Academy

• SUNY Maritime College and its Graduate Program

• Texas A & M University Maritime Academy

• The Sound School• United States Merchant

Marine Academy• Webb Institute

$25,500 Awarded to 8 Students:

1st Place $10k Winner: Trevor Webb, SUNY Maritime2nd Place $5k Winner: Thomas Gallagher, MASS Maritime3rd Place $3k Winner: Charlie Sokolowski, MASS Maritime

Five $1,500 Finalists from SUNY Maritime: Daniel Cummings, Devon Gamba (Graduate Program),

Michael Gold, Isabella Kent, Andy Mayhew

Scholarships FY 2018

Participating Educational Institutions

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Scholar Spotlight: Trevor Webb1st Place Scholarship Winner, SUNY Maritime

Trevor is now a 3rd class cadet majoring in Marine Operations andpursuing a deck license at SUNY Maritime. He is minoring inEnvironmental Science and has achieved the highest academic honor,Admiral’s list, for all three semesters. With a 3.94 GPA, Trevor ispresident of the Environmental Club, Quartermaster for the HonorGuard, and also active in the Eagle Scout Fraternity and the SmallVessel Ops Club. To help offset the cost of college; Trevor works fourdays a week, for two hours each day as a calculus tutor. To furtherexplore his interest in Environmental Science, after he finished 45 daysof Sea Term this past summer, Trevor volunteered for a week aboard afishing vessel with NOAA scientists. He worked the night shift for 12hours each day identifying, counting, weighing, and measuring shellfish as part of NOAA’s Northeast Fisheries Atlantic Shellfish survey. Heis looking forward to shipping this summer as a cadet.

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Interns FY 2018

$13,200 to 12 interns at 8 companies

Patrick DurkinMirjam HoekstraMegan LaurieMyles McAlpineNeil McEnerneyBrady McMurtyBarlow PeeleAiden TellierElias Van SickleWilliam WeaverJulia ZehElias Zenkich

Industry Research Paper Awards FY 2018

In partnership with the CMA EF, the CMA manages a businessof shipping competition for students at US colleges anduniversities with programs and/or courses on the shippingindustry, international trade, marine transportation, marinescience, and marine engineering.

• $5,000 Awarded at the CMA Shipping Conference

• 3 Students at SUNY Maritime

• 1st Place - Erika Stetson

• “Maximizing Marine Bunker Barge Fleet Efficiency: A New York Harbor Case Study”

• 2nd Place – Tajae Harripersad

• “Investigating the Impacts of Port Privatization”

• 3rd Place – Andreas Stasinopoulos

• “Voyage Profile Analysis and Virtual Arrival Practices to Reduce Fuel Consumption and Carbon Dioxide Emissions”

Sponsored by

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Scholar Spotlight: Erika Stetson, 1st Place Industry Research Paper Winner, SUNY Maritime

Erika won with her paper entitled “Maximizing MarineBunker Barge Fleet Efficiency: a NY Harbor Case Study.” Sheworks at Harley Marine New York in the dispatchdepartment. She has 2 more semesters at SUNY Maritime.Her thesis is “focused on a demand prediction equation forresidual fuel oil and a supply chain analysis of bunkering. Itbuilds on the previous, award winning work for CMA EF totake a look at the entire fueling supply chain. In this newpaper, the bunkering data used is from a simulatedcompany rather than any actual corporation and it relies onU.S. Energy Information Administration data relating toresidual fuels for various statistical calculations. There is aninteresting trend in EIA reports which reveal, in the U.S.market, that the transportation sector is, by and large, thelast remaining consumer of residual fuel oil, which hasnotable implications for the shipping industry.”

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Scholar Spotlight: Tajae Harripersad, 2nd Place Industry Research Paper Winner, SUNY Maritime

Tajae won with her paper entitled “Investigating the Impacts ofPort Privatization”. After graduation she will be heading backhome to Trinidad and Tobago to work for a freight forwardingcompany. “Nelson Mandela said that education is the mostpowerful weapon that can be used to change the world. I trulybelieve the CMA EF creates a platform for students in themaritime industry, like myself, to challenge ourselves to developthese ‘weapons’ to change the maritime industry, one sector at atime. The CMA EF not only allows us to dig into current issues ofthe industry but also to develop solutions in which we arerecognized. I fully encourage other students to participate intheir great initiatives.”

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Financial Summary

Year Ended June 30, 2018 (with comparative totals for 2017)

2018 2017

Unrestricted

Permanently

Restricted Total Total

Revenues and Other Support

Allocation from CMA 50,000 _ 50,000 50,000

Education Contributions - Individuals & Foundations 10,501 _ 10,501 33,660

Investment Income, Net of Investment Expenses of

$6,244 & $5,790 in 2018 & 2017 31,564 _ 31,564 26,851

Fundraising Event 7,577 _ 7,577 8,737

Total Revenues & Other Support 99,642 _ 99,642 119,248

Expenses

Program Services:

Scholarships & Internships 43,200 _ 43,200 51,500

Total Program Services 43,200 _ 43,200 51,500

Support Services:

Audit and Accounting Services 11,116 _ 11,116 9,575

Payroll 4,326 _ 4,326 _

Filing Fees 172 _ 172 50

Meetings 732 _ 732 487

Office Supplies 45 _ 45 114

Fundraising Event 1,500 _ 1,500 _

Total Support Services 17,891 _ 17,891 10,226

Total Expenses 61,091 _ 61,091 61,726

Change in Net Assets 38,551 _ 38,551 57,522

Net Assets at Beginning of Year 240,947 500,000 740,947 683,425

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

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ENGINEER DONORS - Up to $99Niels AalundJens AlersNicholas ArutaAziz BamikAlan BlumePatrick BrennanKarl BriersRobert BugbeeEdward CaruteAndrew Coggins Jr.Gordon CooperMatthew ClearyJerome DuvalJames DrakosPeter DrakosSveinung DrivenessVaughn M. FaubionAnn FeltchVincent FoleyFreddy FribergDwight GardinerMaggie GortonMichael HandJohn HeussJeff HorstJess HurwitzStephen HuvaneLaura Hynes-KellerEric JakobsenJerome JosephGreg KurantowMiles Kulukundis

Hans LaueThomas LeedsRob LevanthalJames LiebertzJulie LithgowJose L.D. LopezCarleen Lyden-KlussJoseph MacoRobert MarzikPaul MazzaruliGeorge McCarthyJonathan McConnellThomas MerrellCharles NolfoMichael NorthmoreMichael O’BrienPaul PedersenKostas PerivolarisJohn Peterlin IIIHolger PetersNicholas E. PetradakisRobert N. PritchardEnrique PueblaShunji SasadaCesare SorioJonathan SpencerCharles TammaraBob TitusValentios ValentisHerbert vanWyngaardenDavid YoungApostolos Zafolias

CAPTAIN DONORS - $100-$499

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Frank AlfaroneBrad L. Berman

Kevin BreenRobert EdmondsRonald DeSoizaDiana EstevesJoseph Gross

Brian LeeTimothy Mahr

Catherine MancusoNaresh Maniar

Donald McBrideMolly McCafferty

Peter PappasPeter Swift

James ThomasIngrid Totten

Dag Von AppenBeth Wilson-Jordan

Ian WorkmanRichard Zimmerman

Anonymous

Connecticut Maritime Association

d’Amico International Shipping

Gener8 Maritime, Inc.

The Per and Astrid Heidenreich Family Foundation

Pyxis Tankers, Inc.

Thank you to all of our donors.

Thank you to the donors who supported us through AmazonSmile and at our events with cash donations.

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+

Steven FitzgeraldPeter Evensen

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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.

DirectorsHarold 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.

Host an Intern

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For Additional Information Contact:

Christeen Bernard Dür, Executive Director, Christeen@cma-edu.org

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The CMA Education Foundation Needs Your Support!