Name: Florida A&M University Foundation, Inc.
Assets Under Management: $113.6 Million (Source: Florida A&M University Foundation, Inc. on 6/30/2011)
Annual Report: FLORIDA AGRICULTURAL AND MECHANICAL UNIVERSITY FOUNDATION, INC. (A NON-PROFIT ORGANIZATION) FINANCIAL STATEMENTS, SUPPLEMENTARY INFORMATION, INDEPENDENT AUDITORS’ REPORT THEREON, AND INDEPENDENT AUDITORS REPORT ON INTERNAL CONTROL AND COMPLIANCE FOR THE YEARS ENDED JUNE 30, 2011 AND 2010
Portfolio Insights: “The Florida Agricultural and Mechanical University Foundation, Inc. (the “Foundation”) is supported primarily through donor contributions, grants, and the State of Florida Department of Education’s Division of Colleges and Universities (“D.C.U.”).
The Foundation’s endowment consists of approximately 400 funds (projects) established for a variety of purposes. As required by generally accepted accounting principles (GAAP), net assets associated with endowment funds are classified and reported based on donor-imposed restrictions.” (Source)
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Top Florida A&M University Foundation, Inc. Endowment Fund Headlines:
1) The FAMU Foundation is a living organization which is vital to the progress of the University. The Foundation functions through its Board of Directors, institutional constituents and community donors. Due to the devout contributions of donors who consistently support quality programs that strengthen and broaden the university’s academic appeal, Florida A&M University continues to be recognized as one of the leading institutions in Florida.
As a non-profit organization, Florida A&M University Foundation, Inc. is established with the specific mandate to serve as a custodian of contributions from the private sector, alumni, friends, and industry. The Foundation receives, invests and administers funds. In addition, the Foundation acts as a trustee and exercises in general the powers of a not-for-profit organization under the laws of Florida. (Source)
2) Making history as the first permanent female president in the institution’s 127-year legacy, Elmira Mangum, Ph.D., began her tenure as the 11th president of Florida Agricultural and Mechanical University (FAMU) on April 1, 2014.
A seasoned administrator, Dr. Mangum has served at the executive level of nationally recognized institutions of higher learning for more than 28 years. From 2010 until her appointment at FAMU, Dr. Mangum served as vice president for planning and budget at Cornell University. While at Cornell, she was the senior administrator charged with managing the university’s resources and annual budgeting process.
Prior to her successful tenure at Cornell, President Mangum served in various administrative capacities for nine years at the University of North Carolina – Chapel Hill, including serving as senior associate provost. Her career in higher education leadership began at the University of Wisconsin Extension, Geological and Natural History Survey as an operations specialist. She also served as an assistant dean, associate provost, and vice provost at the University at Buffalo (SUNY). (Source)
3) Karl E. White is the managing principal of Gracián & Co., a boutique advisory and consulting firm specializing in the hedge fund and private equity industries. He was previously appointed to the University of Massachusetts Board of Trustees where he served as vice chairman of the board and chairman of several committees. He received a bachelor’s degree in pharmacy from Florida A&M University and received a MBA from the University of Chicago. His previous experience includes service as executive director of the MBTA Retirement Fund, Pension Fund and he has also held investment management positions with Putnam Investments, Scudder Kemper and Goldman Sachs Asset Management. (Source)
4) The giving opportunities below provide you with a selection of choices to support FAMU. You could chose to give to the university annually, make a large gift or pledge to the university to help grow the endowment, or develop a planned gift that combines several giving opportunities that not only enables you to maximize your gift, it helps the university plan for the future and at the same time provide for current needs. Many of the giving opportunities below can be established and named according to your interests, circumstances and philanthropic goals.
The staff of the Office of University Relations is available to answer your questions, assist you in selecting the specific opportunities that suit your interests, and help you through the giving process. (Source)
5) Willie, who served as the North East Regional vice president of the FAMU-NAA, recently funded a $50,000 endowment at FAMU in his late mother Claudia Mae and late son Willie Jr.’s names. “In order to sustain the university we must give back. Especially by way of endowments, that’s what really will bring about more value to the University and help to give scholarships to students. Without alumni giving, the university will not be as strong,” Willie said. The FAMU Foundation reports that gifting to the FAMU not only aids in institutional sustainability and planning for the future, but also helps to maintain the Alumni Participation Rate. No matter how large the gift, the more alumni that can be accounted for in the participation rate, the better. According to the Foundation, the participation rate is used as an “indicator of the University’s commitment to excellence” to corporations or foundations, which may wish to partner with or provide funding to the university. (Source)