FIU Foundation
To activate FIU’s role as a Worlds Ahead institution, the FIU Foundation aims to connect people, passions, and possibilities through philanthropy, financial stewardship, and engagement. The Foundation strives to enrich the quality of education at the university by supporting scholarships, endowed chairs and professorships, and other programs that rely on private funding. The Foundation accepts charitable donations to support FIU in its goal to be a leading urban public research university that is focused on student learning, innovation, and collaboration.
With more than $370 million in total assets, a portion of which is endowed to support academic initiatives, the Foundation provided approximately $30 million in fiscal year 2017-2018 to advance FIU’s mission by providing funds to support a diverse student population, exceptional faculty, cutting-edge research, modern facilities, and collaborative engagement with our local and global communities.
The Foundation is managed by a board of directors that act as the governing body of the organization. They are responsible for oversight and management of the affairs of the Foundation, in accordance with the Foundation’s articles of incorporation and bylaws.
Impact
Foundation’s Investment Portfolio Allocation
| Asset Class | June 30th Allocation | Asset Characteristics |
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Public Equity | 43.2% | Capital appreciation, global diversification; highly liquid |
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Private Equity | 10.6% | High return potential; illiquid |
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Diversified Growth | 20.9% | Equity-like return potential with lower volatility; semi-liquid |
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Inflation Sensitive | 8.2% | Inflation sensitivity and income generation; mixed liquidity |
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Deflation Sensitive | 17.2% | Capital preservation and income generation; highly liquid |
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Investing in the Future of FIU
An endowment is an investment in the future of FIU and a way for a donor to leave a permanent legacy. Endowments represent money that is donated so that it can be invested to grow the principal and provide additional income for future investing and expenditures. When an endowment is established with a new donation, the gift is invested with two goals in mind: to provide spendable income for the donor’s specified purpose, and to preserve the purchasing power of the endowment. Any investment return over allowed spending is channeled back into the fund to increase growth.
Statement of Financial Position
Assets| Cash and investments | $290,320,297 |
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| Contributions receivable, net | 64,009,445 |
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| Fixed assets, net | 17,424,279 |
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| Other assets | 418,458 |
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| Total assets | $372,172,479 |
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Liabilities and Net Assets| Liabilities | $14,003,545 |
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| Net Assets | 358,168,934 |
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| Total liabilities and net assets | $372,172,479 |
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Statement of Activities and Changes in Net Assets
Revenues| Contributions | $27,157,527 |
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| Investment gains, net | 19,908,559 |
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| Other revenues | 6,216,934 |
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| Total revenues | $53,283,020 |
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Expenses| Support of university programs and activities | $31,059,644 |
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| Administrative, fundraising and general expenses | 10,247,967 |
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| Total expenses | $41,307,611 |
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| Other Activity | (883,486) |
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| Change in net assets | 11,091,923 |
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| Net assets, beginning of year | 347,077,011 |
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| Net assets, end of year | $358,168,934 |
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For fiscal year 2017-2018, the FIU Foundation’s investment portfolio returned 8%. The FIU Foundation’s endowment market value as of June 30, 2018 was $209 million. Four percent of the endowment market value, averaged over the 12 consecutive quarters ended December 31, 2017, was authorized by the Foundation board for spending in fiscal year 2018-2019.
Please note: These figures agree with the audited financial statements, which are presented on a full accrual basis.