Name: Miami Dade College Investment Advisory Committee
Assets Under Management: $494.1 Million (Source: Miami Dade College on 6/30/2013)
Portfolio Insights: “The financial position of the College improved during the fiscal year ended June 30, 2013, as reflected by an $88.8 million, or 7.5 percent, increase in net position over the 2011-12 fiscal year. Net position represents the residual interest in the College’s assets after deducting liabilities. The College’s comparative total net position by category for the fiscal years ended June 30, 2013, and 201.
The statement of revenues, expenses, and changes in net position presents the College’s revenue and expense activity, categorized as operating and nonoperating. When revenues and other support exceed expenses, the result is an increase in net position. When the reverse occurs, the result is a decrease in net position.” (Source)
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Top Miami Dade College Endowment Fund Headlines:
1) The $186 million endowment of Florida’s Miami Dade College did perform 8 to 12 percentage points better than the S&P 500, according to E.H. Levering, senior vice provost for business affairs and chief financial officer. Still, this equates to an investment return of approximately –18 percent in FY09. (Source)
2) Miami Dade College (MDC) recently celebrated admission of its two millionth student. That’s a notable accomplishment in many ways—especially considering that our institution opened its doors just 53 years ago.
But that milestone of serving the public would simply not be possible without the upwelling of support for MDC itself. Indeed, MDC’s success in connecting with its alumni and the corporate citizenry of South Florida has produced a very noteworthy record of fundraising accomplishment: At $336.2 million, our current endowment—the largest endowment of any community college in the nation—ranks as the fourth largest of any Florida college or university. (Source)
3) Miami, December 5, 2013 – Applications are now being accepted for the longstanding Francisco Foundation Scholarship at Miami Dade College. The application period will close December 31, 2013. The Scholarship winner will be invited to an awards ceremony with the Foundation Board in early 2014.
As is customary for the Francisco Foundation, the winner is selected on the basis of demonstrated leadership, community service, academic excellence and a love of democracy and freedom. The scholarships will be awarded to a first-year student. Applicants are required to submit a typed, double-spaced, 1,100-word essay explaining one of the two following: what freedom and democracy mean to them, or what sort of sacrifices should be made to ensure the safeguarding of freedom and democracy. They essays can be written in English, Spanish or Creole. Along with the essay, applicants must also include their most recent transcript, a current resume, and two letters of recommendation attesting to academic performance, leadership and character. (Source)
4) May 3, 2012 – Miami Dade College will honor some of its outstanding alumni at the 10th annual Hall of Fame Gala, being held May 10, 2012 at 6pm at the Hilton Miami Downtown. Today, more than 174,000 students attend Miami Dade College, a state-supported college with eight campuses and numerous outreach centers. Miami Dade College is one of the largest institutions of higher education in the United States and one of the most highly regarded colleges in the nation. (Source)
5) Miami Dade College Foundation raises awareness and financial resources for the College to maintain open-door access to anyone who wants an education, and to provide innovative and multicultural academic and cultural programs, all of which contribute to the vitality of our community. (Source)