Frequently Asked Questions
How much of the money raised actually goes to the scholarship fund?
All the money raised, after deducting the fundraising event costs, is placed in an endowment used to fund the scholarships. We are an entirely volunteer effort. The Board is comprised of family and friends of Captain Dave Lyman. No Board members are paid and there are no “administrative costs” to manage the endowment. The time and effort we put into organizing the fundraising event, with many friends providing lots of kokua (help), is all done gratis.
Who manages the scholarship fund?
The California Maritime Academy Foundation manages the endowment, along with dozens of other charitable funds similar to ours. We have partnered with the Cal Maritime Foundation in an effort to gain as much financial power through consolidating our fundraising with other organizations. This partnership has been very successful since it’s inception in 2008.
How much is given to students each year?
Our endowment currently allows us to provide tuition assistance to four students each year. We provide this service to each recipient for the four years they are attending Cal Maritime. The amount is not exactly the same every year, but typically is about $2,500.
Who manages the actual distribution of the scholarship money?
The Financial Aid Office at Cal Maritime distributes the Dave Lyman Memorial Scholarship funds (plus any other funds they qualify for) to the recipients at the beginning of each academic year.
Who chooses the recipient every year?
Each Spring, the Dave Lyman Memorial Scholarship Board members schedule a meeting, where we make arrangements to interview each applicant. After conducting these interviews, the Board members vote for their top three choices. We provide a ranked list to Cal Maritime. At the appropriate time, the Admissions office notifies the winning recipient for that year.
What do I have to do if I am interested in applying for a scholarship?
Please see the Scholarship Information page on this website.