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Feature Article: Class of 2003 Endowment Fund
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Guest Column by Eero Pikat ('02)
MITP Alumni Association

Carol Henes
Associate Director
carolh@ece.northwestern.edu
847/467-6557

George Nejmeh
Assistant Program Manager
gjn485@northwestern.edu
847/491-5931

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·October 15, 2003, 7:30 p.m: Alumni Association Meeting in Tech. All alumni welcome.
·October 25, 2003: Homecoming and MITP Reunion

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MITP Board of Directors
Professor Abraham H. Haddad,
    Chairman and Program
    Director
Professor C. C. Lee
Professor Michael Honig
Carol Henes

Feature Article: Class of 2003 creates MITP quasi-endowment fund

MITP's inaugural Class of 1998 established a giving tradition by purchasing an engraved stone bench to grace Tech's lakeside courtyard. The Class of 1999 followed suit with a companion bench in the same location. These class gifts are used and appreciated year-round by Northwestern students and faculty. Subsequent classes met that high standard with gifts of beautiful and enduring works of art.* But with graduation approaching, the members of the Class of 2003 had not agreed on the right gift. "I was concerned we might not be able to make our gift announcement on Commencement day," remembers Prasenjit Adhikari, gift co-chair. But then, in a stroke perfectly attuned to the MITP's combination of business savvy and IT expertise, Adhikari found inspiration on the Internet.

"I saw a press release on the Wharton School of Business Web site about their Class of 2003 gift - a donation to the Wharton Fund," says Adhikari. "That led me to think: why can't we do something like that?" One problem was that the MITP did not have such a fund. Taking things one step further, however, Adhikari reasoned that his class could be the one to establish an MITP fund. When he e-mailed the idea to his classmates, their response was positive.

Adhikari also sent his classmates examples from Kellogg's Web site about the branding opportunities such funds can provide. "Those examples became the motivation that drove me to become Prasenjit's copilot on our mission," says classmate Sandra J. Hernandez Rolnicki. "The thought of doing something that could reach beyond the 29 of us to serve a larger purpose for the program inspired me. The creation of a quasi-endowment fund would give us a chance to leave a unique legacy - one that would provide benefits to each of us as well as to future classes."

When Adhikari and Hernandez Rolnicki explained the idea to MITP's Carol Henes, she connected them with Northwestern development officer Marilyn Foster Kirk, who walked them through the process of establishing a quasi-endowment fund. "The numbers were challenging," says Adhikari, but I knew we could do it."

"I had seen the generosity of my classmates in other instances," says Hernandez Rolnicki, "so I was never worried about reaching our goal of $10,000. We also had a secret pledge from one of our classmates who promised to fill the gap if we had 100 percent participation in pledges but were short of our mark. As it turns out, we exceeded the goal without invoking the secret pledge."

The class voted unanimously to create the fund, which, by agreement with McCormick, will be increased to a minimum of $25,000 within three years. To accomplish this goal the class plans to join forces with MITP alumni and future classes. MITP's director will consult with alumni to make spending decisions after the balance reaches the $25,000 minimum. Possible uses proposed by the Class of 2003 include a CIO speaker series, continuing education seminars for students and alumni, and a scholarship program.

Abraham Haddad, director of the MITP and chair of its board, praised the "generosity and vision" of the Class of 2003: "We are very pleased with this gift, which will help future MITP students and the continued improvement of the program. We are also very grateful to the previous graduating classes who began the giving tradition and whose gifts grace our building."

McCormick Dean John Birge recognized the Class of 2003 for their creative and enduring legacy to the MITP: "Their gift is important not just for helping to sustain the MITP but also for recognizing the exceptional quality of the MITP and the deep sense of community among our professional degree students, faculty, and staff. I look forward to having future classes continue the MITP tradition of giving back to McCormick and of sustaining their involvement beyond graduation."

*Class of 2000 - kinetic sculpture by Bryan Mavor; Class of 2001 - mural by New York artist Keith Norman; Class of 2002 - painting by Rein Pikat entitled Wildcat Conquers Technology.

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