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Florida Institute of Technology Endowment Fund

Name: Florida Institute of Technology

Assets Under Management: $203 Million (Source: Florida Institute of Technology on 4/30/2013)

Annual Report: Florida Institute of Technology, Inc. Consolidated Financial Statements April 30, 2013 and 2012

Portfolio Insights: “Florida Institute of Technology, Inc. (the “University”) is an accredited, coeducational, independently controlled and supported university, which was established in 1958. It is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools. The University is a not-for-profit corporation under both federal and state laws.

The University’s investment in securities are reported at fair value based on quoted marked prices. Contributed investments in securities are initially recorded at their fair value on the date of the gift. The University has also investments in managed futures to reduce the overall volatility of the equity fund performance.” (Source)

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Top Florida Institute of Technology Endowment Fund Headlines:

1) I’m honored to be here today at the Florida Institute of Technology (FIT) – one of our Nation’s finest universities as you celebrate 50 years of providing an outstanding education to scientists and engineers, as well as those in business and the Arts. It is also my pleasure today to announce Northrop Grumman’s $1 million gift to the University to fund a new endowment.

The Northrop Grumman Engineering and Science Student Endowment will be the first of its kind. This endowment enables students participating in the annual Northrop Grumman Engineering and Science Student Design Showcase to focus on developing and completing their projects without the worry of raising all of the money to cover their project costs.

They will save plenty of time – no longer having to hold countless bake sales, car washes, or spend time canvassing local companies to sponsor their projects. However, even with Northrop Grumman’s support, I’d still strongly encourage our community to continue to support – we can’t do enough! (Source)

2) With focus on student success, Florida Institute of Technology’s mission is to provide high-quality education to a culturally diverse student body in order to prepare students for entering the global workforce, seeking higher-education opportunities, and serving within their communities. The university also seeks to expand knowledge through basic and applied research and to serve the diverse economic, cultural and societal needs of our local, state, national and international constituencies. (Source)

3) Anthony James Catanese is the president of Florida Institute of Technology, a major research institution with more than 16,000 students. Florida Tech emphasizes academic and research programs in engineering, the sciences, liberal arts, business, psychology and aeronautics. It has a major distance learning program using advanced technology. Such groups as the Carnegie Foundation and U.S. News and World Report rate it amongst America’s top universities.  The Times Higher Education Rankings from London places it among the best universities in the world.

Dr. Catanese was previously president of Florida Atlantic University, which grew to 25,000 students on seven campuses during his leadership tenure. He was the provost of Pratt Institute in New York City, dean of the College of Architecture at the University of Florida, dean of the School of Architecture and Urban Planning at the University of Wisconsin–Milwaukee, associate dean of the School of Engineering and Environmental Design and James A. Ryder Professor at the University of Miami, and professor and director of the Center for Planning and Development at the Georgia Institute of Technology. Dr. Catanese also was a Senior Fulbright Professor at the Pontificia Universidad Javeriana in Bogota, Colombia.

He holds a bachelor’s degree from Rutgers University, a master’s degree from New York University and a doctoral degree from the University of Wisconsin–Madison. A prolific writer, he has published 13 books, 18 chapters in books and more than 100 articles and monographs. (Source)

4) Dr. T. Dwayne McCay joined Florida Tech as Provost and Chief Academic Officer, where he is second in command and has responsibility for all academic, research and student matters, including athletics. Dr. McCay came from University of Tennessee, where he was the Vice President for Research and Information Technology and served as the Chief Research Officer and Chief Information Officer for all units of the University.

Earlier, as a Vice President of the University of Tennessee, he served as the Chief Executive Officer of the Space Institute; Professor, Engineering Science and Mechanics; Adjunct Professor, Mechanical and Aerospace Engineering; UT Alumni Distinguished Service Professor; Program Chairman, Engineering Science and Mechanics; Chairman of the Center for Laser Applications; and Principal Investigator, NASA Spacelab Experiment and several projects on laser processing of materials.

Previously he was at NASA George C. Marshal Space Flight Center in Alabama. There in the Structures and Propulsion Laboratory, he was Chief of the Propulsion Division; Branch Chief of Turbomachinery and Combustions Devices Branch and of the Propulsion Analysis Branch; and Senior Aerospace Engineer of the Auxiliary Propulsion Branch. (Source)

5) Florida Institute of Technology received a $1 million gift from Harris Corp. that will be used to create a new student design center at the university. The 11,500-square-foot, single-story structure will serve College of Engineering and College of Science seniors completing capstone design projects. The Harris Student Design Center will be located on the south side of campus. In the new design center’s high bay space, student teams will fabricate and assemble a variety of projects, from unmanned submersibles and Baja cars to lunabots. (Source)

About Richard C. Wilson