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.
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
$1.7B
Operating Budget
FY 2022
$5B+
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.
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.
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
Liabilities, Deferred Inflows And Net Position
Statement of Revenues, Expenses and Changes in Net Position
Revenues
Expenses
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 Class | June 30, 2022 Allocation | Asset Characteristics |
|---|---|---|
| Public Equity | 67.2% | Capital appreciation, global diversification; highly liquid |
| Private Equity | 14.7% | High return potential; illiquid |
| Real Assets | 10.7% | Capital appreciation and income generation; various levels of illiquidity |
| Hedge Funds | 1.7% | Absolute return potential; semi-liquid |
| High Quality Bonds and Cash | 5.7% | 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 ANNUAL REPORT 2021-2022
11200 SW 8th Street, MARC 5th Floor, Miami, FL 33199
305-348-6298 | Nexthorizon.FIU.Edu
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