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Florida International University Foundation, Inc. Endowment Fund

Name: Florida International University Foundation, Inc.

Assets Under Management: $1.3 Billion (Source: Florida International University Foundation, Inc. on 6/30/2013)

Annual Report: Florida International University Foundation Financial Audit For the Fiscal Year Ended June 30, 2013

Portfolio Insights: The University’s operating revenues totaled $462.5 million for the 2012-13 fiscal year, representing a $43.5 million, or 10.4 percent, increase over the 2011-12 fiscal year. Major components of operating revenues are student tuition and fees, auxiliary enterprise revenues, and grants and contracts. Net tuition and fees increased $53.1 million. Sales and services of auxiliary enterprises decreased $15.4 million. Grants and contract revenue increased $3.1 million. Explanations for these three changes are provided on pages 8 and 9. Operating expenses totaled $773 million for the 2012-13 fiscal year, representing an increase of $34.9 million, or 4.7 percent, over the 2011-12 fiscal year due mainly to an increase in compensation and employee benefits of $34 million. (Source)

Our team, the Endowment Fund Association (EFA) and is the #1 community and most visited website dedicated to endowment fund professionals.  We provide endowment funds with buy-side co-investment and direct investment deal origination services, outsourced chief investment officer selection help,  and also provide Endowment 500 research and Endowment Database Solutions.

Top Florida International University Foundation, Inc. Endowment Fund Headlines:

1) Florida International University Foundation, Inc. (FIU Foundation) was established in 1969 to encourage, solicit, receive and administer gifts for scientific, educational and charitable purposes for the advancement of Florida International University and its objectives. It is registered by the State of Florida as a charitable organization and is approved by the U.S. Internal Revenue Service as a tax exempt 501(c)(3) organization. The Foundation has also been certified as a Direct Support Organization (DSO) of Florida International University as defined in Florida Statue 1004.28.

The FIU Foundation is a non-profit corporation governed by a Board of Directors, whose members play a significant role in the development of the University as a major educational, cultural and economic resource. Through the involvement of the Directors and their contribution of time, leadership and financial resources, the mission of the University is advanced. (Source)

2) Florida International University Foundation Inc., Miami, hired Cambridge Associates as investment consultant, confirmed Marisel Lieberman, assistant director, budgeting and investments.

The $208 million foundation issued an RFP in October 2012 as a due-diligence measure. The foundation’s previous consultant Consulting Services Group rebid for the services, Ms. Lieberman said.

Other finalists were Commonfund, Gallagher Fiduciary Advisors, Hirtle Callaghan & Co., The Presidio Group and Wilshire Associates. (Source)

3) Florida International University Foundation Inc offers development of the educational, cultural and economic resources. The Company operates as a non profit organization that receives and administers gifts for scientific, educational and charitable purposes. (Source)

4) Tom currently serves as the President of Florida for BankUnited. Prior he served as President & Chief Executive Officer for the Florida Region of Marsh & McLennan Agency, which is the largest public company in the world in the insurance brokerage industry. He oversaw the Florida Region is comprised of six offices and 180 professionals serving the insurance needs of middle market companies and affluent individuals in the state of Florida.

Prior to that, Tom worked for the SunTrust Banks in a variety of senior leadership roles from 1983-2003. His last position with the bank was City President for the Miami market and Commercial Banking Executive for the South Florida Region. In this role, Tom had management responsibility for commercial banking, international banking, commercial real estate, treasury management, merchant services and investment banking. (Source)

5) Adalio T. Sanchez, treasurer, earned an MBA from FIU in 1987. He serves as Senior Vice President of Enterprise Systems at Lenovo Ltd.   In this role, Sanchez is responsible for all facets of Lenovo’s enterprise server and storage systems business including product development, marketing, sales, operations, and overall financial performance. He is also a member of Lenovo’s Executive Committee, a board of its most senior leaders. Prior to this role, Sanchez spent 32 years at IBM and ran numerous multibillion dollar business divisions for the company. He has broad experience in the information technology marketplace with an extensive background in product development, manufacturing, operations and brand management.

Sanchez was named the 2007 Hispanic Engineer of the Year and has frequently been named to the list of the nation’s Top 50 Hispanics in Technology and Business. He is active in STEM related efforts across the nation and is on the Management Committee of the Society of Hispanic Professional Engineers.

Mr. Sanchez has more than 25 years of experience in the Information Technology marketplace with an extensive background in product development, manufacturing, operations, and brand management. Before his position as the General Manager of Microelectronics, Mr. Sanchez was General Manager of the IBM System p server business. Over a four year period, he significantly grew this multi-billion dollar business and increased IBM’s market share to overtake both HP and SUN as the worldwide leader in the UNIX server marketplace. (Source)

About Richard C. Wilson