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Stevens Institute of Technology Endowment Fund

Name: Stevens Institute of Technology

Assets Under Management: $360.5 Million (Source: Stevens Institute of Technology on 6/30/2014)

Annual Report: Consolidated Financial Statements Stevens Institute of Technology June 30, 2014 (with summarized comparative information for 2013)

Portfolio Insights: “Stevens Institute of Technology and Subsidiary (collectively, the “University”), founded in 1870 and located in Hoboken, New Jersey, educates and inspires students to acquire knowledge needed to lead in the creation, application and management of technology and to excel in solving problems in any profession.

The University’s endowment fund consists of approximately 348 individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designated by the University’s Board of Trustees to function as endowments. Net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.” (Source)

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Top Stevens Institute of Technology Endowment Fund Headlines:

1) Stevens Institute of Technology’s former president has received more than $5 million from the university since he left in 2010 amid allegations of financial mismanagement at the school, campus officials said Wednesday. The payout to Harold Raveché — which came shortly after Stevens made a deal with the state to settle a lawsuit over the Hoboken school’s financial and governance problems — included consulting fees, severance pay, retirement benefits and other cash. Stevens was legally obliged to pay Raveché the money, said Randy Greene, the university’s chief financial officer. (Source)

2) Stevens Institute of Technology, a premier, private research university, and Accenture (NYSE: ACN) have initiated a research and education collaboration to focus on analytics for the financial services industry. As part of the three-year collaboration, Accenture and Stevens will conduct advanced analytics research projects and workshop sessions with Accenture’s financial services clients, and Stevens will begin offering a Financial Services Analytics (FSA) Graduate Certificate Program in January 2015.

The FSA curriculum was developed to combine the latest academic thinking with industry-proven experience to address evolving analytics needs in the financial services industry, including aspects of financial big data and data visualization. Coursework is being offered through Stevens’ School of Systems and Enterprises, Financial Engineering (FE) Division. The FE Division at Stevens offers comprehensive research and education programs at the master’s and doctoral levels, and is led by world-renowned and industry-connected faculty. (Source)

3) The Office of the Provost and University Vice President at Stevens Institute of Technology operates at the interface of three major constituencies; namely students, faculty, and administrators. We are here to ensure that these three groups work together in harmony and are aligned with the strategic direction of the Institute. Our mission is to serve the Stevens community and provide the resources, encouragement, and support necessary to achieve and maintain academic and operational excellence. Our goal is to build communities of creative enterprise in pedagogy, research, and technology development, and to see that those communities flourish and have a transformational impact on our society. We rely on the leadership, integrity, work ethic, and enthusiasm of our students, faculty, administrators, and staff to achieve our goals. (Source)

4) Dr. George P. Korfiatis serves as the Provost and University Vice President at Stevens Institute of Technology since December of 2006. He joined Stevens Institute of Technology in 1983 as an Assistant Professor. In 1987 he founded the Center for Environmental Engineering, a research center that he directed until September of 2002 when he became the Dean of the Charles V. Schaefer Jr., School of Engineering. (Source)

5) Stevens Institute of Technology invites applications for the position of Director of the Department of  Chemistry, Chemical Biology & Biomedical Engineering (CCBBME). The department, housed in the School of Engineering & Science, has 25 science/engineering faculty members and a mission centered upon multidisciplinary collaboation.

The department hosts ACS-certified undergraduate programs in chemistry and chemical biology, an ABET-accredited undergraduate program in biomedical engineering, and graduate programs at the masters and doctoral levels in all three disciplines. Currently, 320 undergraduates, 50 masters students and 30 doctoral students are enrolled in departmental programs. (Source)

About Richard C. Wilson