Alumni and friends of Semester at Sea, we are pleased to share with you our Annual Report¬†from the 2019-2020 fiscal year. Philanthropic support from alumni and friends like you has positioned Semester at Sea to weather the COVID-19 pandemic.
The current fiscal year has required Semester at Sea to make drastic changes as a result of the cancellation of both the Fall 2020 and Spring 2021 voyages. We are fortunate that our Board of Trustees and previous leadership worked hard to establish the ‚Äúemergency‚Äù investments, ‚Äúship reserve‚Äù investments, and undesignated investments (outlined on page 8). These funds, coupled with significant overhead and operational expense savings, will permit Semester at Sea to persevere and serve future generations.
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