2008–2009 - Florida Institute of Technology
2008–2009 - Florida Institute of Technology
2008–2009 - Florida Institute of Technology
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fInanCIal oVeRVIeW<br />
univErsity FinanCial suppOrt<br />
The university is supported by tuition and fees, research grants<br />
and contracts, and assistance from foundations, industry and the<br />
local community. Careful attention to sound business policies has<br />
placed the institution on a sound financial basis year after year.<br />
<strong>Florida</strong> Tech was ruled tax-exempt under Section 501(c)(3) <strong>of</strong> the<br />
Internal Revenue Code (IRC) <strong>of</strong> the U.S. Treasury Department<br />
in January 1960. The university was classified in October 1970<br />
as an organization that is not a private foundation as defined in<br />
Section 509(a) <strong>of</strong> the IRC. Gifts to the university are thus tax<br />
deductible.<br />
Endowments<br />
Ongoing funding is provided through earnings from the university’s<br />
endowments. <strong>Florida</strong> Tech thanks its donors for endowing the<br />
following funds:<br />
• Sarkis Acopian Endowed Chair in Environmental Education<br />
• Astronaut Scholarship<br />
• Father Douglas F. Bailey, S.D.S., Endowment to Support<br />
Catholic Campus Ministry<br />
• Dr. Juanita Neal Baker Graduate Psychology Fellowship<br />
• Bank <strong>of</strong> America/Barnett Bank Scholarship<br />
• Bank <strong>of</strong> America/NationsBank/C&S National Bank<br />
Scholarship<br />
• Barnes & Noble College Bookstores Scholarship<br />
• Dr. J. Clayton Baum Scholarship<br />
• Blatt Chemistry Seminar Endowment<br />
• Francis O. Blume III ROTC Scholarship<br />
• Brevard Scholars Program Endowment<br />
• Brevard Scholarship in Life Sciences<br />
• Joseph Caruso Family Scholarship<br />
• Chair in Ethics Endowment<br />
• Chi Phi Scholarship<br />
• Civil Alumni Recruitment Endowment (CARE)<br />
• Dr. Kerry Bruce Clark Memorial Scholarship<br />
• Henry Paul Clausen Scholarship<br />
• David L. and Theresa G. Clayton Graduate Fellowship in<br />
Marine and Environmental Systems<br />
• Coca-Cola Scholarship<br />
• College <strong>of</strong> Business Endowment<br />
• College <strong>of</strong> Engineering Endowment for Academic Programs<br />
• College <strong>of</strong> Engineering Research Endowment<br />
• Wendell H. Colson Scholarship<br />
• Commitment to Excellence<br />
• Computer Sciences Department Endowment<br />
• James Constantine College <strong>of</strong> Aeronautics Endowment<br />
• Construction Industry Advisory Board (CIAB) Endowment<br />
• Don Creech Memorial Scholarship<br />
• Melissa Lee Crist Honorary Scholarship Endowed by Thomas<br />
E. and Lois R. McNamara<br />
• Deering Fellowship Fund<br />
• Delta Sigma Phi Fraternity Scholarship<br />
• Department <strong>of</strong> Electrical and Computer Engineering<br />
Endowment<br />
• Dettmer Family Scholarship<br />
• Jeffrey Allen Dimond Memorial Scholarship<br />
• Henry L. and Grace Doherty Endowed Visiting<br />
Pr<strong>of</strong>essorship<br />
• Marsha A. Duncan Scholarship<br />
• Susan Galos Eason Memorial Scholarship<br />
• Environmental Education Program Endowment<br />
• Faculty Enhancement Endowment<br />
• Faculty Scholarship<br />
• Farmer Endowment<br />
• FIT Equipment Replacement Fund<br />
• Flag Officers Leadership ROTC Scholarship<br />
• Michael Flammio Scholarship<br />
• <strong>Florida</strong> Tech Alumni Association Scholarship<br />
• Warren and Evelyn Foster Scholarship<br />
• Steve Freeman College <strong>of</strong> Business Ethics Award<br />
• Friends <strong>of</strong> the Evans Library (FOEL) Endowment<br />
• Charles A. Frueauff Foundation Revolving Loan Fund<br />
• H. Seeley and Ruth E. Funk Fund for the Textile Arts<br />
• Walter and Dorothea Gatti Scholarship<br />
• General Endowment<br />
• General Scholarship Endowment<br />
• Chris Giddings Memorial Scholarship<br />
• W. Lansing and Isabelle Gleason College <strong>of</strong> Business<br />
Academic Award<br />
• Harbor City Volunteer Ambulance Squad Scholarship<br />
• Harris Endowed Pr<strong>of</strong>essorships<br />
• John Thomas and Martha Hartley Scholarship<br />
• Marjorie Hayes Scholarship<br />
• Health First Endowed Chair in Community Health<br />
• Dr. Leonard S. Healy Graduate Scholarship<br />
• Allen S. Henry Pr<strong>of</strong>essor <strong>of</strong> Engineering Endowment<br />
• Allen S. Henry Scholarship<br />
• Bjørnar and Bjørg Hermansen Scholarship<br />
• Paul André Hermansen Memorial Scholarship<br />
• Llewellyn Hewett Jr. Engineering Scholarship<br />
• Holzer-Lequear Endowment to support Medical Genetics<br />
Research<br />
• Dr. Sam Hughes and Mrs. Kate Settle Hughes Scholarship<br />
• Hydro Aluminum Corp. College <strong>of</strong> Engineering<br />
Scholarship<br />
• Intercollegiate Rowing Program Endowment<br />
• International Aerospace Lightning Conference (IALC)<br />
Scholarship<br />
• Philip and Eloise Kalker Family Scholarship<br />
• James G. Kennedy Sr. Library Endowment<br />
• Dr. Jerome P. Keuper Endowment<br />
• Dr. V. Lakshmikantham Scholarship in Mathematical<br />
Sciences<br />
• Bryan J. LaRose Memorial Scholarship<br />
• Legacy Soccer/Lever Bros. Scholarship<br />
•<br />
Edwin A. Link Special Collections Endowment<br />
Financial Overview 13<br />
InsTITUTIon fInanCIal oVeRVIeW
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