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Michigan Technological University Endowment Fund

Name: Michigan Technological University

Assets Under Management: $437.2 Million (Source: Michigan Technological University on 6/30/2014)

Annual Report: Michigan Technological University Financial Report 2014

Portfolio Insights: “The University’s investments in marketable securities are carried at quoted fair market value whenever possible. The University also holds land for investment purposes which functions as an endowment and is recorded at fair value. Fair value is arrived at through independent appraisals of the land and of the timber holdings.

Fund investments in marketable securities including hedge funds are carried at quoted fair market value whenever possible. Hedge funds’ fair values are based on information provided by the administrators of each underlying fund. Real estate and natural resources are accounted for on the equity method. Private equity funds that do not have readily determinable market values as of June 30 are valued based on the most recent available partner capital account balances as reported by the partnerships to the Fund.” (Source)

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Top Michigan Technological University Endowment Fund Headlines:

1) Dr. Glenn D. Mroz became the ninth president of Michigan Technological University in 2004 after serving as Dean of the School of Forest Resources and Environmental Science for four years. He served as a faculty member in the School since 1980. Dr. Mroz earned his BS and MS degrees in Forestry from Michigan Technological University and earned his PhD in forestry from North Carolina State University in 1983.

Mroz is a member of the Citizens Research Council of Michigan, Chair of the Michigan Universities Presidents Council, and Chair of the Great Lakes Intercollegiate Athletic Conference Council of Presidents. At the national level, he is one of thirty members of the Association of Governing Boards Council of Presidents, a member of the Science Coalition, and a former member of the American Council on Education Commission on Lifelong Learning. He is also a member of the Society of American Foresters, Xi Sigma Pi, Forestry Honor Society, and Soils Science Society of America. (Source)

2) Max Seel serves as Michigan Tech’s provost and vice president for academic affairs. As chief academic officer he has responsibility for all of Michigan Tech’s academic programs and faculty, develops and implements the University’s strategic hiring initiatives, and oversees general education, outcome assessment, annual curriculum review, and more.

Seel joined the Michigan Tech faculty as an associate professor of physics in 1986, coming from the University of Erlangen-Nurnberg in Germany. He became head of the Department of Computer Science in 1988 and was promoted to full professor of physics in 1989. In January of 1990 he was named interim dean, and from 1991 to 2008 he was the dean of Tech’s College of Sciences and Arts. Seel was appointed to provost and vice president of academic affairs February, 2010. (Source)

3) Michigan Tech has received a $2.8 million gift from the estate of Robert M. Anderson, a native of Negaunee. The gift has been added to an endowed scholarship fund that now totals more than $4 million.

Anderson, who died in 2002, earned a degree in electrical engineering from Michigan Tech in 1943 and had a distinguished career in research and development with General Electric. He was a prolific inventor, receiving 31 patents during his 35 years with the company.

Since its inception in 1993, the Robert M. and Virginia Mercer Anderson Endowed Scholarship has supported 18 Michigan Tech students–some for their entire academic careers.

Robert Anderson was a member of electrical engineering’s distinguished alumni academy and received the Michigan Tech Board of Control Silver Medal. Virginia Anderson died in 1993. (Source)

4) President Barack Obama’s call for free community college tuition aims to help level the playing field for low income, first-generation and minority students.  Michigan Technological University is already doing that, according to a new kind of ranking released late last year: the Social Mobility Index.

Ranked first among Michigan colleges and universities in the Social Mobility Index (SMI) and 42nd nationwide, Michigan Tech earned the recognition for its efforts to increase access to higher education for economically disadvantaged students and families. (Source)

5) At its regular meeting July 15, Michigan Technological University’s Board of Control approved a goal of $200 million for a capital campaign now under way at the University.  The funds raised will be used primarily but not exclusively for endowed faculty support and student financial aid, said George Butvilas, chair of the Michigan Tech Fund, the nonprofit corporation that receives, invests and disburses gifts to further the University’s strategic plan.

“Michigan Tech’s goals are to attract outstanding faculty and to provide the best hands-on education to prepare our students to be leaders in our technological world,” said President Glenn D. Mroz.  “This campaign will help us meet those goals.“

During its quiet phase—a time when a select few major donors are approached privately—the campaign already has raised $120 million. The public phase, which began July 1, will last three years.  The Board will revisit the goal each year, adjusting it as appropriate. (Source)

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