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New Jersey Institute of Technology Endowment Fund

Name: New Jersey Institute of Technology

Assets Under Management: $211.8 Million (Source: New Jersey Institute of Technology on 6/30/2012)

Annual Report: New Jersey Institute of Technology Financial Statements and Management’s Discussion and Analysis June 30, 2012 and 2011 (With Independent Auditors’ Report Thereon)

Portfolio Insights: “The financial position and activities of New Jersey Institute of Technology (NJIT) and Foundation at New Jersey Institute of Technology (the Foundation) (collectively, the University) at and for the years ended June 30, 2012 and 2011.

Endowment investments totaling $2,143 and $2,295 at fair value ($1,992 and $2,093 at cost) at June 30, 2012 and 2011, respectively, are held and administered by external trustees, while the remainder are held and administered by the University. Hedge and other investment funds are comprised of market neutral funds and private equity, real estate, and timber funds. The University is committed to invest an additional $963 in these funds over the next two fiscal years.” (Source)

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Top New Jersey Institute of Technology Endowment Fund Headlines:

1) New Jersey Institute of Technology (NJIT) awarded the Edward F. Weston Medal for Professional Achievement to Paul Eng-Wong of South Orange at Celebration 2014, the university’s annual black-tie benefit dinner, on November 14, 2014 at the Pleasantdale Chateau, West Orange. The Weston Medal is presented to alumni in recognition of outstanding personal, professional, and civic achievement and commitment to the development of the university.

Entertainment was provided by Bernadette Peters, one of Broadway’s brightest stars. Proceeds from the sold-out event will be used toward endowed scholarships for students at NJIT. Since 1995, many of the university’s most generous supporters have gathered annually for Celebration, a black-tie affair that has raised more than $4.6 million in scholarship endowment funds for students at NJIT. A festive evening featuring dinner and live entertainment, Celebration also honors individuals for achievements beneficial to the state and our nation, as well as organizations exceptional for their commitment to NJIT’s mission. This year marked the 20th anniversary of the event, which featured a “Roaring Twenties” theme. (Source)

2)  The Honorable Thomas H. Kean, of Bedminster, received the New Jersey Institute of Technology (NJIT) University Medal for Lifetime Achievement at Celebration, the university’s annual black-tie benefit dinner, on Nov. 14, 2014 at the Pleasantdale Chateau, West Orange.

Entertainment was provided by Bernadette Peters, one of Broadway’s brightest stars. Proceeds from the sold-out event will be used toward endowed scholarships for students at NJIT. The event was chaired by Robert Medina, senior vice president and East District director of T.Y. Lin International. Medina is a 1975 graduate of NJIT and serves on the university’s Board of Overseers.

Kean is former governor of New Jersey (1982-1990) and was the president of Drew University from 1990-2005. He also served for 10 years in the New Jersey Assembly, rising to the positions of majority leader, minority leader and speaker. As governor, he served on the President’s Education Policy Advisory Committee and as chair of the Education Commission of the States and the National Governor’s Association Task Force on Teaching. Kean currently serves as chairman of the board of Carnegie Corporation of New York. (Source)

3)  New Jersey Institute of Technology (NJIT) conferred an honorary Doctor of Science upon Robert S. Dow, of Trenton, at its 98th Commencement exercises on Tuesday, May 20, 2014 at 9 a.m. at the Prudential Center in Newark.

After serving in the U.S. Army, Robert S. Dow attended Newark College of Engineering, graduating in 1969 with a BS in civil engineering. He then earned an MS in structural engineering at New York University while working for Burns and Roe on the design of nuclear power plants.

Dow entered Columbia Business School in the fall of 1972, shortly after competing on the U.S. Olympic Fencing Team in the Summer Games held in Munich, Germany. He had started working at the investment-management firm Lord Abbett & Co. as a quantitative analyst in January of that year, and after completing the Columbia MBA program, he returned to additional responsibilities as an analyst at Lord Abbett. (Source)

4) The interim president of the New Jersey Institute of Technology has been appointed to the post permanently. Joel Bloom was the school’s vice president for academic and student services before he became its acting leader following the resignation of longtime president Robert Altenkirch last November NJIT’s board of trustees announced Bloom’s hiring on Tuesday, one day after they voted to make him leader of the 9,500-student university in Newark. (Source)

5) NJIT has been recognized nationally for providing graduates with a high rate of return on their investment. The Bloomberg Businessweek survey of U.S. colleges ranked NJIT in the top 10 percent nationally for return on investment and classified the university as one of four best buys in New Jersey higher education. BuzzFeed.com has ranked NJIT as the number one value among colleges and universities nationally. NJIT was third on Affordable Online Colleges’ Highest Return on Investment Colleges in New Jersey ranking.

NJIT has earned national prominence by developing relevant academic programs taught by leading practitioners in their fields. Six specialized schools offer 46 bachelor’s, 56 master’s, and 19 doctoral degree programs. With 489 full-time and adjunct faculty, 89 percent of whom hold doctoral degrees, the university maintains a student-faculty ratio of 16:1. NJIT serves an ethnically diverse student body, ranking number one in New Jersey in awarding engineering degrees to African-American and Hispanic students. (Source)

About Richard C. Wilson