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Illinois Institute of Technology Endowment Fund

Name: IIT Gift and Endowment Accounting

Assets Under Management: $596 Million (Source: Illinois Institute of Technology on 5/31/2014)

Annual Report: Illinois Institute of Technology Consolidated Financial Statements and Supplementary Information May 31, 2014 and 2013

Portfolio Insights: “Illinois Institute of Technology (the University) is a private not-for-profit coeducational technical Institution that is dedicated to superior teaching and excellent scholarship. Located in Chicago, Illinois, the University enrolls a diverse student body from across the nation and a number of foreign countries.

Cash equivalents, consisting primarily of fixed-income securities and money market accounts with original maturities of three months or less, related to endowment funds are classified as investments. Investment transactions are recorded on the trade date. Realized gains and losses on the sale of investments are calculated on the basis of specific identification of the securities sold. Investment management fees and service charges are netted against investment income for financial reporting purposes.” (Source)

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Top Illinois Institute of Technology Endowment Fund Headlines:

1) Gift/Endowment provides accounting services to IIT departments that manage funds provided to the university through gifts. Its staff creates new endowment and restricted gift accounts and answers general questions. (Source)

2) Illinois Institute of Technology is a private institution in Chicago, Illinois. It was formed in 1940 through a merger of the Armour Institute of Technology and the Lewis Institute. It has a small undergraduate student population of approximately 2,800 and offers programs in engineering, science, psychology, architecture, business, communications, industrial technology, information technology, design and law. (Source)

3) John P. Calamos is chairman, chief executive officer and chief investment officer of the firm he founded in 1977, which he made public as Calamos Asset Management in 2004. A pioneer in investment strategies and techniques to help manage risk, Mr. Calamos has created a reputation for using investment techniques to control risk, preserve capital and build wealth for clients over the long term. From its origins as an institutional convertible bond manager, Calamos Investments has grown into a diversified asset management firm with major institutional and individual clients in the U.S. and around the world. Mr. Calamos received his undergraduate degree in Economics and M.B.A. in Finance from the Illinois Institute of Technology. Joining the United States Air Force after graduation, he served as a combat pilot during the Vietnam War and ultimately earned the rank of Major. Mr. Calamos won the Ernst & Young Entrepreneur Of The Year® award for the financial services sector, Lake Michigan Area program for 2006. A frequent speaker at investment seminars and conferences, he has taught graduate level courses on finance and investments and is often quoted as an authority on risk-management investment strategies in Barron’s, Fortune, Forbes, Pensions & Investments, Financial World, Nation’s Business, The Wall Street Journal and on CNBC and Bloomberg Forum. (Source)

4) Greetings from Illinois Institute of Technology.  The beginning of the new year only adds to the promise of exciting opportunities that a new semester offers. We continue to move forward in the public phase of our institution’s six-year fundraising effort, Fueling Innovation: The Campaign for IIT. The campaign captures the university’s unique promise to produce innovative graduates through IIT’s distinctive education program as well as to address urgent global challenges through innovative research and scholarship.

One of the projects that will benefit from the campaign is the anticipated Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship. In spring 2014, IIT received a $10 million challenge grant to help build the 100,000-square-foot state-of-the-art building, which will offer students and faculty a centralized facility to promote innovation, transition novel ideas into products and processes, and serve as a hub for various entrepreneurship initiatives. It will also be the new home for our hallmark Interprofessional Projects (IPRO) Program, the Idea Shop, the Leadership Academy, the Knapp Entrepreneurship Academy, and IIT’s acclaimed Institute of Design. (Source)

5) Mar 7, 2014 – Illinois Institute of Technology Zebra Technologies Corp. Education Technology

Illinois Institute of Technology’s innovation center, a $40 million project announced in 2012, is getting closer to reality. The school today announced it hired John Ronan Architects of Chicago and Shepley Bulfinch of Boston as architects for the 100,000-square-foot building. IIT also announced that alumnus Ed Kaplan pledged $10 million to the facility, which will be called the Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship.

Construction could start as early as 2015, with occupancy taking place in 2017, the university said. In addition to an innovation center, the facility would house several existing IIT departments, including its Institute of Design and Leadership Academy. Mr. Kaplan, a co-founder of bar-code printing firm Zebra Technologies Corp. of Lincolnshire, earned his bachelor’s degree in mechanical engineering from IIT in 1965. (Source)

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