Name: Northern Illinois University Foundation
Assets Under Management: $754.5 Million (Source: Northern Illinois University Foundation on 6/30/2013)
Portfolio Insights: Management’s discussion and analysis (MD&A) provides an overview of the financial position and activities of Northern Illinois University (the University) for the year ended June 30, 2013 with comparative information for the year ended June 30, 2012.
The Component Units’ permissible investment categories include equities, fixed income securities, cash equivalents, venture capital/private equity, equity real estate and hedge funds. In fulfilling their responsibilities, the Component Units contracted with an independent investment advisory firm as well as 23 investment management firms to execute the strategy they have established. (Source)
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Top Northern Illinois University Foundation Endowment Fund Headlines:
1) Northern Illinois University Foundation, DeKalb, rehired Fund Evaluation Group as its investment consultant, said Jean Godlewski, controller for the $93 million foundation. The foundation includes $70 million in endowment funds. An RFP was issued in April because services had not gone out to bid for 14 years, Ms. Godlewski said. (Source)
2) The Northern Illinois University Foundation is a nonprofit, tax-exempt corporation that secures and manages gifts of money, property, works of art, or other material having educational and historical value. It receives and administers such gifts to support university programs with supplemental resources where state funding is non-existent or inadequate. The foundation is governed by a board of directors consisting of elected representatives of alumni and friends. The foundation provides educational fundraising for the university. In addition to donor-restricted funds, the foundation awards grants to select faculty through its Opportunity Grants program and Strategic Initiatives Grants program. (Source)
3) Students at NIU achieve amazing things, even though some face tremendous financial obstacles. Rising costs of higher education, combined with the jeopardy that the employee dependent tuition waiver is facing, has motivated the Supportive Professional Staff Council to build a scholarship fund for it dependents. The SPS Scholarship Fund will provide scholarship support for children and grandchildren (biological, adopted, foster, stepchild, legal guardianship) of Supportive Professional Staff employees at the university. This scholarship can help provide financial assistance each year for one SPS dependent while recognizing the talents and achievements of NIU’s deserving students. (Source)
4) The NIU Foundation develops and supports a culture of giving throughout the NIU community. Donations to student scholarships through the NIU Foundation provide financial assistance to students of academic merit and/or financial need. The NIU Alumni Association has provided financial assistance through scholarships and trusts to thousands of students over the past 50 years, thanks to generous donations from NIU alumni. The purchase of an NIU license plate lets you show your Huskie pride while supporting NIU student scholarships. (Source)
5) The NIU foundation bought the home and 4.6 acres for $200,000 in 1977 from the Oderkirk family. Schrader said if anything good has come from the past two months working with NIU Foundation officials, it’s that the roof was restored so the house will be protected during the winter. (Source)