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University Highlights

As a leading major public research university, FIU continued to rise in national recognition, reflecting its innovative programs that strengthen student success and research excellence.

In 2021, FIU jumped 17 spots in the U.S. News & World Report rankings to No. 78 among public universities in the nation, continuing its rapid upward trajectory. FIU rose 54 spots in the last five years, the greatest improvement among Carnegie R1 public universities and the second highest jump of any university.

U.S. News & World Report ranked FIU graduate programs in the top 50 among U.S. public universities in 19 categories, including the International MBA program, which continued in the No. 2 spot; the Steven J. Green School of International & Public Affairs, which ranked No. 46 in public affairs; and the Herbert Wertheim College of Medicine, which was ranked the No. 1 most diverse medical school.

No. 17

Most Innovative Public Universities
U.S. News & World Report

Top 20

Public Universities
For U.S. Utility Patents

Top 50

National Public University
Washington Monthly

Top 5

Public Universities for Social Mobility
U.S. News & World Report

$246M

Research Expenditures

The university had $246 million in sponsored research expenditures in FY 2021, up from $237 million the previous year. FIU holds the highest research classification, Carnegie Research 1-Very High Research Activity.

$1.7B

Total Expenditures
Operating Budget
FY 2022

$5B+

Annual Economic Impact

For the second year in a row, FIU ranked among the top three public universities in the state, according to the Florida Board of Governors performance metric scores. This marks the third time in the last five years that FIU has ranked in the top three of Florida’s public universities in a state that has the No. 1-ranked system in the country for higher education. The scores are based on 11 metrics that measure graduation rates, graduates’ wages, cost of attendance to students, and other key indicators.

FIU’s current Wall of Wind testing facility

The National Science Foundation awarded a $12.8 million four-year cooperative agreement to FIU’s preeminent Extreme Events Institute to support the design of a national full-scale testing facility capable of producing wind speeds of up to 200 miles per hour, combined with a water basin to simulate storm surge and wave action.

Belize extended protection for sharks after FIU-led research showed that even in protected areas, endangered sharks may still be vulnerable. In the first long-term study of its kind, FIU experts and a team of collaborative scientists documented population decline of Caribbean reef sharks on the nation’s Glover’s Reef Atoll, which is part of the Glover’s Reef Marine Reserve World Heritage Site.

FIU continues to be a leader in providing solutions to the pressing problems of our times. In recognition of the university’s student success and research accomplishments and thanks to the support of the state legislature, the university was appropriated more than $77 million in new funding. This funding was approved in the state budget, signed by Governor Ron DeSantis for the 2022-2023 fiscal year, which started on July 1.

FIU strengthened its research capacity with a newly outfitted building dedicated to investigative medicine, which will forward the development of life-impacting therapeutics. The Center for Translational Science is part of a complex in Port St. Lucie, Florida, that also includes a hospital and separate research facility both run by the famed Cleveland Clinic. FIU was named a Fulbright Hispanic-Serving Institutions (HSI) Leader by the U.S. Department of State’s Bureau of Educational and Cultural Affairs. The Fulbright Program is the U.S. government’s flagship international educational exchange program. The distinction was awarded to only 35 HSIs.

FIU Center for Translational Science in Port St. Lucie, Florida

Snapshot of Giving

Fiscal Year 2021-2022

$94.7M

IN TOTAL PHILANTHROPY

Because of You!

Florida International University
Foundation And Subsidiaries

Statement of Net Position

Assets

Cash and investments
$403,891,900
Contributions receivable, net
20,715,897
Depreciable capital assets, net
4,361,943
Nondepreciable capital assets, net
3,470,084
Other assets
977,286
Total assets
$433,417,110

Liabilities, Deferred Inflows And Net Position

Liabilities
$18,667,325
Deferred inflows related to rental income
317,885
Net position
414,431,900
Total liabilities and net position
$433,417,110

Statement of Revenues, Expenses and Changes in Net Position

Revenues

Contributions
$26,010,190
Investment earnings
(26,565,042)
Other revenues
2,850,408
Total revenues
$2,295,556

Expenses

Programs, scholarships and building support to Florida International University
$44,348,233
Fundraising
11,592,942
General and administrative
6,319,398
General support to Florida International University
1,187,684
Depreciation
734,854
Total expenses
64,183,111
Transfers to Florida International University
(12,170,696)
Other activity
(27,145)
Support from Florida International University
7,899,821
Gain (loss) before endowment contributions
(66,185,575)
Endowment contributions
7,050,497
Change in net position
(59,135,078)
Net position, beginning of year
473,566,978
Net position, end of year
$414,431,900
Please note: These figures agree with the audited financial statements, which are presented on a full accrual basis. Liabilities reflect an endowment grant that is held by the Foundation on behalf of the University and for purposes of the audited financial statements is reported on the separate Statement of Fiduciary Net Position.

Building for the Future

Impact

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 $433.4 million in total assets, a portion of which is endowed to support academic initiatives, the Foundation provided approximately $49.4 million, including the state match on the First Generation Scholarship Program, in fiscal year 2021-2022 to advance FIU’s mission. Funds were used 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 governed by a Board of Directors of highly dedicated leadership volunteers; they are listed on the following pages.

Foundation Support of FIU Programs

Foundation’s Investment Portfolio Allocation

Asset ClassJune 30, 2022 AllocationAsset Characteristics
Public Equity67.2%Capital appreciation, global diversification; highly liquid
Private Equity14.7%High return potential; illiquid
Real Assets10.7%Capital appreciation and income generation; various levels of illiquidity
Hedge Funds1.7%Absolute return potential; semi-liquid
High Quality Bonds and Cash5.7%Capital preservation and limited income generation; highly liquid

Investing In The Future Of FIU

The nation’s most prestigious universities are consistently assessed by the size of their endowments. The creation of an endowment is one of the highest demonstrations of a donor’s abiding belief in FIU and commitment to ensure its vibrant future. As the financial bedrock of the university’s drive to build excellence, endowments are vital to create and sustain important initiatives – scholarships, fellowships, faculty positions, and programs – in perpetuity. When a donor invests in FIU to establish an endowment, it creates a legacy that will provide permanent income to support a meaningful project while preserving the principal of the endowment. Any investment return over allowed spending is channeled back into the fund to increase growth.

Endowment Market Value

Investment Returns

FIU Foundation | 2021 - 2022 Board of Directors

Thank you to all of our directors, past and present, for their time, leadership, and dedication in support of FIU and the FIU Foundation.

Board Leadership

Chairperson
Humberto “Burt” Cabañas ’76
Benchmark
Founder & Chairman

Vice Chairperson
Adalio T. Sanchez ’87
S Group Advisory, LLC
President

Treasurer
Andre L. Teixeira ’92, MAcc ’93
The Graham Companies
EVP & Chief Financial Officer
Finance Committee, Chair

Secretary
Jill M. Granat, Esq. ’87
Restaurant Brands International
General Counsel
Legal and Bylaws Special Committee, Chair

Chief Executive Officer
Howard R. Lipman
FIU Foundation

Steven M. Berwick, CPA ’74
Kaufman, Rossin & Co., P.A.
Audit & Litigation Consulting Principal
Audit Sub-Committee, Chair

Richard Brilliant ’93
Carnival Corporation
Chief Risk & Compliance Officer
Long-Term Strategic Planning Committee, Chair

Juan R. Figuereo ’81
Revlon Products Corporation
Retired, EVP & Chief Financial Officer
Finance Committee, Vice Chair
Foundation Enterprise Growth Committee Chair

Kenneth A. Jessell
Florida International University
Interim President

Michael A. Kappitt ’92
Subway
Chief Operating & Insights Officer
Campaign & Foundation Marketing, Chair

 

Chad Moss ’94
Moss & Associates
Executive Vice President
Moss Foundation, Inc., President
Athletics Sub-Committee, Chair

Marcel L. Navarro ’93
MMG Equity Partners
Principal
Investment Sub-Committee, Chair

Elliot N. Stone
Royal Castle Builders, LLC
Principal
Real Estate Sub-Committee, Chair

Albert R. Taño, MD
Kidz Medical Services, Inc.
President & Medical Director
Membership & Board Management Committee, Chair

Directors

Stewart L. Appelrouth, CPA, MS ’80
Appelrouth, Farah & Co., P.A.
Principal

Carmel J. Barrau, MD, FACP
Unihealth of South Florida, Inc.
President

Trish and Dan Bell
Bell Family Foundation
Membership & Board Management Committee, Vice Chairs

Cristina di Mauro ’01
BankUnited
Senior Executive Vice President
Commercial & Corporate Banking Executive
Development Management Committee, Vice Chair

LaTéssa Dotson-Hall
Richard P. Hall Eagles Foundation, Inc.
Executive Director, Founder

Ira D. Giller, A.I.A.
Giller & Giller, Inc.
President
Real Estate Sub-Committee, Vice Chair

Francisco Gonzalez, CPA ’90
Morrison, Brown, Argiz & Farra, LLP
Principal-in-Charge, Audit
Audit Sub-Committee, Vice Chair

 

Walter B. Gonzalez Jr., Esq. ’96
Goja, LLC
President

Gerald C. Grant, Jr. ’78, MBA ’89
G Financial Group
President
Investment Sub-Committee, Vice Chair

Noel J. Guillama-Alvarez ’99
OXIO Health, Inc.
Chairman & CEO
Campaign Budget Task Force, Chair

Yolangel “Yogi” Hernandez Suarez
Florida International University
Vice Provost for Population Health and Well-being
Herbert Wertheim College of Medicine
Associate Dean for Clinical and Community Affairs

Francis A. Hondal ’87, BBA ’94, MBA
Mastercard
President, Loyalty & Engagement

Jeffrey L. Horstmyer, MD
Brain Center
Chairman and CEO

Francisco Lopez, Jr., Esq. ’96
Ryder Systems
Executive Vice President and Chief Human Resources Officer

Alberto Lorenzo ’74
Quantum Results, Inc.
President

Esther L. Moreno, Esq. ’95
Akerman LLP
Shareholder
Legal and Bylaws Special Committee, Vice Chair

Robert M. Namoff ’74
Allied Universal Corporation
Chairman of the Board

 

Claudia Puig
Univision
Communications/Television/Radio/Digital President and General Manager

Thomas C. Ragan
Ragan & Freeman LLP
Partner

Carlos A. Sabater, CPA ’81

Jason A. Saltzman
Alley
Chairman of the Board
Corporate Ad Hoc Sub-Committee, Vice Chair

Rakesh and Rachanee “Mei” Sarna ’21
Rakesh Sarna Scholarship Program
Founder

Wasim J. Shomar
The Lynx Companies
Chairman and CEO

Richard P. Tonkinson
Tonkinson Financial, Inc.
President

Tina M. Vidal-Duart ’02, MIB ’04
CDR Health, Inc., CEO
CDR Maguire, Inc., Executive Vice President

Candido J. Viyella
Morgan Stanley
Managing Director, Portfolio Manager,
Sports and Entertainment Director

David M. Zinn MST ’98
Ocean Azul Partners
Founding and Managing Director

Ex-Officios

Elizabeth M. Bejar, PhD, MS ’98
Florida International University
Interim Provost, Executive Vice President, and Chief Operating Officer

Deanne Butchey, PhD ’05
FIU College of Business, Department of Finance FIU Teaching Professor

Valentina Casanova
FIU Student Government Association
Vice President

Gina C. Duarte Romero ’91, MEd ’08
Florida International University
Alumni Association President

Peter P. Koltis ’87
Alvarez & Marsal Business Consulting
Business Consulting Leader – Florida

T. Gene Prescott
The Biltmore Hotel
President

 

Former Foundation Board Chairpersons

Richard Brilliant ’93 (2017-2020)
Thomas M. Cornish ’85 (2014-2017)
Justo L. Pozo ’80 (2011-2014)
Noel J. Guillama-Alvarez ’99 (2010-2011)
Albert Morrison, Jr.*, Honorary Chairperson (2010, honored posthumously)
Joseph L. Caruncho, Sr., Esq. ’81 (2008-2009)
S. Lawrence Kahn, III (2006-2008)*
Carlos A. Migoya, PhD ’74, MBA ’76 (2004-2006)
Donald E. Lefton (2002-2004)
Sherrill W. Hudson (2000-2002)
Herbert A. Wertheim, OD, ScD ’96, MD ’13 (1999-2000)

Patricia Frost, EdD, DPS ’02 (1997-1999)
David R. Parker (1994-1997)
Joseph P. Lacher (1993-1994)
Alvah H. Chapman, Jr. (1988-1993)*
Robert H. Coords (1987-1988)*
W. James Orovitz (1984-1987)*
Catherine H. Fahringer (1982-1984)
David L. Perlman (1980-1982)*
Thomas D. Lumpkin (1978-1980)*
J. Stephen Hudson (1977-1978)
Dave W. Schornstein (1976-1977)
Jay Janis (1975-1976)*
Lester R. Johnson, Jr. (1973-1975)
John K. Aurell (1971-1973)

*Deceased

FIU Foundation Leadership

Howard R. Lipman
Chief Executive Officer
305-348-6298
lipmanh@fiu.edu

David Byrd
Director, Project Success
305- 348-6298
dabyrd@fiu.edu​

Sara DuCuennois
Chief Alumni Officer
305-348-4213
sducuenn@fiu.edu

Melissa Hernandez
Chief Administrative Officer
305-348-7629
mehern@fiu.edu

Carolyn Jackson ’01, MSHRM ’03
Assistant Vice President, Human Resources
305-348-3901
jacksonj@fiu.edu

Linda Menage
Chief Campaign Officer
305-348-7952
lcuriel@fiu.edu

Catherine A. Torres ’05, MA ’08
Chief of Staff
305-348-6298
ctorres@fiu.edu

FIU Foundation, Inc.

FIU FOUNDATION ANNUAL REPORT 2021-2022

11200 SW 8th Street, MARC 5th Floor, Miami, FL 33199
305-348-6298 | Nexthorizon.FIU.Edu

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