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Wentworth Institute of Technology Endowment Fund

Name: Wentworth Institute of Technology

Assets Under Management: $252.6 Million (Source: Wentworth Institute of Technology on 6/30/2010)

Annual Report: Consolidated Financial Statements Wentworth Institute of Technology, Inc. June 30, 2010 and 2009

Portfolio Insights: “Wentworth Institute of Technology, Inc. (the “Institute”), located in Boston, Massachusetts, is a not-for-profit, private educational institution founded in 1904 and accredited by the New England Association of Schools and Colleges. The Institute’s endowment consists of 117 individual funds established for a variety of purposes. The endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments.” (Source)

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Top Wentworth Institute of Technology Endowment Fund Headlines:

1) David Blittersdorf, president and CEO of renewable energy systems manufacturer AllEarth Renewables Inc., has donated $1.5 million to fund an endowed professorship at Wentworth Institute of Technology. Blittersdorf majored in mechanical design engineering technology at Wentworth and is a member of the Class of ’77.

“This gift exemplifies David’s determination to support education and give back,” said Wentworth President Zorica Pantić. “And it reflects the vision that has marked his career as a pioneer in solar and wind energy.”

The endowment will create the Blittersdorf Professorship and foster several scholarly initiatives at Wentworth, including the annual Blittersdorf Faculty Award. Blittersdorf cited the Institute’s “do, learn, succeed” ethos and dedication to educating new generations of service-oriented engineers. “Wentworth is inarguably one of the top schools of its kind in the country,” he said. (Source)

2) Wentworth Institute of Technology (WIT) announced an amendment to its institutional master plan (IMP) that would create three new buildings, including an 18-story “endowment” tower, on the corner of Huntington Avenue and Ruggles and Parker streets.

WIT spokespeople sat at a community task force meeting March 12 that they hoped the amendment would be filed with the Boston Redevelopment Authority (BRA) by the end of March, following a request to rezone the area. That BRA filing has not yet been made, according to BRA project manager Katelyn Sullivan. (Source)

3) For more than 30 years, Dr. Zorica Pantić has been an academic entrepreneur, technology advocate, agent for change, and a champion for diversity, making a positive impact at regional, state, and national levels. As Wentworth’s first female president and the first female engineer to lead a higher education institution of technology in the United States, Dr. Pantić’s leadership is exemplified by her strategic thinking and vision for implementing key initiatives and programs that advance educational opportunities for students pursuing studies in engineering, technology, design, sciences, and management.

At Wentworth, Dr. Pantić manages efforts related to 4,000 students and more than 400 faculty and staff and oversees the Institute’s operating budget of $95 million. She is advancing Wentworth’s mission of providing a comprehensive interdisciplinary, project-based education in engineering, technology, design and management that integrates classroom, laboratory, studio, cooperative and experiential learning resulting in a career-ready, skilled professional and engaged citizen. (Source)

4) Wentworth Institute of Technology reports it has landed a $10 million gift from an alumnus. The school plans to use the money to build a student center, which will be named after the donor, William Flanagan.

In 1961, Flanagan founded Nexus Inc., a maker of audio plugs, jacks and push-button switches for the communications industry in Stamford, Conn. Flanagan graduated from Wentworth’s machine construction and tool design program in 1951. Last year, Flanagan sold Nexus to Amphenol Corp., and its name changed to Amphenol Nexus Technologies.

At Wentworth, Flanagan used the machine parts laboratory to make parts for his race car, which he drove professionally, the school said. (Source)

5) Mr. Kenneth D. Roberts serves as Treasurer of Wentworth Institute of Technology. Since December 1988, Mr. Roberts has been an Independent Management Consultant. From November 1992 to June 1995, he served as Vice President and Chief Financial Officer of Foster Miller Inc. From July 1986 to December 1988, he served as Vice President, Treasurer and Chief Financial Officer of Massachusetts Computer Corporation. Prior to that time and for many years, he served as Senior Vice President. (Source)

About Richard C. Wilson