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Rochester Institute of Technology Endowment Fund

Name: University Endowments – Rochester Institute of Technology

Assets Under Management: $703.9 Million (Source: Rochester Institute of Technology on 6/30/2014)

Annual Report: Rochester Institute of Technology Consolidated Financial Statements June 30, 2014 and 2013

Portfolio Insights: “Rochester Institute of Technology (University, RIT) is a privately endowed, co-educational university comprised of nine colleges: Applied Science and Technology, Business, Computing and Information Sciences, Engineering, Health Sciences, Imaging Arts and Sciences, Liberal Arts, National Technical Institute for the Deaf (NTID) and Science. The University, which occupies 1,300 acres in Rochester, New York, has approximately 18,292 full and part-time undergraduate and graduate students and 3,286 employees.

The Consolidated Financial Statements of the University are prepared on the accrual basis of accounting in conformity with generally accepted accounting principles in the United States of America. All significant intercompany transactions and accounts have been eliminated.” (Source)

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Top Rochester Institute of Technology Headlines:

1) Rochester Institute of Technology is a private institution that was founded in 1829. It has a total undergraduate enrollment of 13,880, its setting is suburban, and the campus size is 1,300 acres. It utilizes a semester-based academic calendar. Rochester Institute of Technology’s ranking in the 2015 edition of Best Colleges is Regional Universities (North), 8. Its tuition and fees are $35,768 (2014-15).

Despite its name, the Rochester Institute of Technology offers programs in the liberal arts, art and design, and business, in addition to science and technology. Co-ops – paid, full-time work experiences – are an important part of an RIT education. For some majors, co-ops are required; for others, they are encouraged. Students also have the option of completing one of about 20 accelerated degree programs, earning, for example, both a bachelor’s degree and an MBA in five years. (Source)

2) Apr 29, 1999 – Rochester Institute of Technology, Rochester, N.Y., hired Bankers Trust to run $40 million in active international equities for its $400 million endowment fund, said Cynthia Podvin, endowment financial analyst. Funding came from terminating three managers, which she declined to name. (Source)

3) For two decades, U.S. News & World Report has ranked Rochester Institute of Technology (RIT) among the nation’s leading comprehensive universities. Internationally recognized for academic leadership, RIT is also known for providing unparalleled support services for students with hearing loss through its National Technical Institute for the Deaf. In 2009, RIT received a request from its student government organization asking for more wireless coverage. “Our students needed the ability to work together in common areas around campus without being tethered to their desks,” says Greg Gardner, RIT’s manager of network communications. RIT noticed a new trend among its hard-of-hearing student population. Instead of using hardwired video phones plugged into television sets to make calls, students were now using netbooks with webcams for Video Relay Services (VRS). “In order to support the needs of our diverse student population,” says Gardner, “we needed to deploy a media-ready wireless network that could seamlessly support converged data, voice, and video services anywhere.” (Source)

4) Rochester Institute of Technology is a nationally respected leader in professional and career-oriented education and is composed of 8 colleges offering more than 90 different bachelor’s, 68 master’s, and 6 doctoral degree programs. Many of the programs at RIT focus on imaging, from photography to imaging science, which is a big reason why Rochester, New York is known as the “world capital of imaging.”

“ENVI enables our students to perform modern image analysis tasks as they begin to understand the theory of these techniques in the classroom. The feature-rich programming language in IDL enables our students to extend the capabilities of ENVI and concentrate on the state-of-the-art algorithms rather than on recreating the classical textbook functionality and tools best left to professional programmers. Both ENVI and IDL allow us to quickly build on top of a strong foundation of visualization tools and create thought provoking solutions and new directions for systems and algorithms, which is so important in a rapidly evolving field such as imaging.” – Dr. Carl Salvaggio, Professor in the Chester F. Carlson Center for Imaging Science, RIT. (Source)

5) Scientists at Rochester Institute of Technology and the NASA Jet Propulsion Laboratory are exploring a new type of space telescope with an aperture made of swarms of particles released from a canister and controlled by a laser.

These floating lenses would be larger, cheaper and lighter than apertures on conventional space-based imaging systems like NASA’s Hubble and James Webb space telescopes, said Grover Swartzlander, associate professor at RIT’s Chester F. Carlson Center for Imaging Science and Fellow of the Optical Society of America. Swartzlander is a co-investigator on the Jet Propulsion team led by Marco Quadrelli.

NASA’s Innovative Advanced Concepts Program is funding the second phase of the “orbiting rainbows” project that attempts to combine space optics and “smart dust,” or autonomous robotic system technology. The smart dust is made of a photo-polymer, or a light-sensitive plastic, covered with a metallic coating. (Source)

About Richard C. Wilson