Name: Eastern Michigan University Foundation
Assets Under Management: $55.1 Million (Source: Eastern Michigan University Foundation on 6/30/2012)
Portfolio Insights: “Eastern Michigan University Foundation (the “Foundation”), located in Ypsilanti, Michigan, receives, holds, invests, and administers funds for the purpose of contributing to and making expenditures on behalf of Eastern Michigan University (EMU). Under governmental accounting principles, the Foundation is considered a component unit of EMU.
The Foundation estimates the fair value of venture capital partnership investment based on statements and as disclosed by the general partner. The Foundation’s endowment includes donor-restricted endowment funds and funds designed by the board of trustees to function as endowments.” (Source)
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Top Eastern Michigan University Foundation Endowment Fund Headlines:
1) The Eastern Michigan University Foundation reached a milestone this week, surpassing its goal to raise $50 million by an excess of $1.9 million. The foundation is nearly a year ahead of schedule in meeting this mark. It launched its first comprehensive fundraising campaign in April 2010 and projected it would take three years to garner $50 million. The effort was branded “Invest. Inspire. The campaign for Eastern Michigan University.” Tom Stevick, executive director of the EMU foundation, said this can only mean good things for the university. “I think this speaks a lot for the faith and confidence of EMU’s alumni and supporters in the progress of the university,” he said. “I think it shows we have been successful in forming strong connections with the community and our faculty. It’s very exciting.” (Source)
2) The Eastern Michigan University Foundation has raised in $8 million for the 2007-08 fiscal year, eclipsing its fund-raising goal. Of that money, $7.1 million was in cash while $800,000 came from in-kind contributions. This year’s numbers almost doubled last year’s total of $4.2 million. Of the $7.9 million, $2.2 million came from the trust of renowned sculptor and potter Jean Noble Parsons. That money will be used to establish the Jean Noble Parsons Center for the Study of Art and Science on 86 wooded acres near Traverse City and Interlochen. Another $700,000 plus came from the estate of former university staff member Helen Rudin and Catherine Sesi, a longtime friend of Ypsilanti and EMU. That money will support scholarships in music and general studies. The Kresge Science Initiative Challenge chipped in $250,000 to help build a $1 million science equipment endowment. (Source)
3) Ronald G. Miller, former Detroit Institute of Arts vice president for development and Eastern Michigan University alumnus, has been named executive director of the EMU Foundation. Miller will oversee all foundation operations, including development, and the Office for Alumni Relations. The Ypsilanti native also will provide day-to-day coordination of EMU’s comprehensive campaign. “Ron has been instrumental in expanding the foundation’s fundraising levels by 88 percent in 2008,” said Daniel C. Arbour, chairman of the EMU Foundation board of trustees. The EMU Foundation is a private, nonprofit corporation that increases private support and manages endowment assets for the benefit of EMU. (Source)
4) Dr. Susan Martin joined Eastern Michigan University (EMU) as its 22nd president and first woman president in July 2008. Prior to Eastern Michigan, Dr. Martin served as provost and vice-chancellor of academic affairs at the University of Michigan-Dearborn from 2006-08. Dr. Martin enjoyed an 18-year career at Grand Valley State University where she served as director of the master of taxation program, director of international business programs, and chair of the accounting and taxation department. Dr. Martin also spent five years in the Provost’s Office and was Executive Associate Vice-President for Academic Affairs when she left to join UM-Dearborn. (Source)
5) Kim Schatzel, provost and vice president of academic and student affairs at Eastern Michigan University, has been appointed to a three-year term on the Board of Directors for the Health Alliance Plan of Michigan. Health Alliance Plan (HAP) is a nonprofit, regional health plan based in Detroit that provides health coverage to individuals and companies. HAP is a subsidiary of the Henry Ford Health System. Schatzel was appointed by the Board of Trustees of the Henry Ford system. Her duties will include active participation in board matters and philanthropic support. Schatzel came to Eastern in January 2012 after serving as dean of the College of Business at U-M Dearborn. She joined U-M Dearborn in 2000 and held several leadership positions until being named dean. Schatzel’s corporate experience includes more than 20 years of new venture and start-up experience. This includes serving as Founding President and COO, and later CEO of ICM/Krebsoge, North America’s largest powdered metal components manufacturer – a multinational industrial firm employing more than 1,500 people on four continents. (Source)