2016/2017
ANNUAL REPORT
LINKING EXCEPTIONAL TALENT TO EXTRAORDINARY CAREERS
OUR VISION
We envision a world where all human capital are valued and empowered to achieve their fullest potential through parity of access to the US STEM workforce, driving global innovation and competitive advantage.
OUR MISSION Since 1976, the National GEM Consortium has been addressing a critical shortfall in American engineering and scientific talent by increasing the participation of underrepresented minorities at the Master’s and Doctoral levels. Our model is strategic and proven. We provide graduate fellowships to highly qualified individuals from communities where such talent is largely untapped. Working in partnership with leading corporations, U.S. government laboratories, and many of the nation’s top universities and research institutes, we provide GEM Fellows with the much-needed financial support that is often the deciding factor in pursuing graduate education, as well as practical experience through high-level, paid summer internships. GEM does more than provide financial support, however. We work to ensure student success in these competitive academic and professional environments with effective programs that increase the recruitment, retention, and graduation of GEM Fellows. More than 4,000 GEM Fellows have gone on to successful careers.
2016/2017 ANNUAL REPORT Table of Contents INTRODUCTION Letter from the President 3 Letter from the Chief Executive Officer 3
PROGRAMMING GEM GRAD Lab 4 Future Faculty and Professionals 5 2017 GEM Fellows 6 2017 Selection Data - Yearly Outlook 9 Annual Board Meeting & Conference 10
FINANCIAL STATEMENTS Independent Auditors Report Statement of Financial Position Statements of Activities Statements of Cash Flows Notes to the Financial Statements
14 15 16 18 19
DONORS & EXECUTIVE COMMITTEE AND STANDING CHAIRS Donor List Executive Committee and Standing Chairs
22 23
Letter from the PRESIDENT Dear GEM Colleague, We are very pleased to release the 2017 Annual Report for the National GEM Consortium. We have had another very productive year across the GEM community, and the GEM mission continues to be as important as ever. Brennon Marcano, our GEM Chief Executive Officer, has set very aggressive goals, and we are looking forward to supporting significantly more students over the next several years. The GEM Board recently completed a new strategic plan for enhancing GEM’s awareness, impact, and relationships, as well as improving overall operations. We look forward to presenting the latest strategic goals and actions to our broader GEM community. As always, your input on GEM’s direction is critically important. This year I have completed my third and final two-year term as Chair of the GEM Board of Directors. I will be working closely with the new GEM Board Chair to ensure a smooth transition. It has been a privilege for me to be a part of the GEM program, and I have really enjoyed working directly with many from across the GEM community. MIT Lincoln Laboratory and I will continue to strongly support the GEM mission over the coming years.
ERIC EVANS, PH.D.
CHAIR, GEM BOARD OF DIRECTORS
Letter from the CHIEF EXECUTIVE OFFICER Dear GEM Stakeholder, With the winds of change comes both challenge and opportunity and GEM has embraced both and continues to strive forward. It is in that vein that we are pleased to release our 2016/2017 annual report. This year marked a transition year as I took over the helm in the second quarter and immediately embarked on a listening tour of our consortium of over a hundred university and industry partners, which culminated in our ability as an institution to very clearly focus on why we exist (to achieve scientific impact), what we do (provide fellowships to the best and brightest talent in the US that come from underserved populations in STEM) and how we do it (through collaborative support from industry and academia). The time also allowed us to very clearly understand what the real value proposition of working with GEM is and how to best communicate it to our stakeholders. It was a year of learning that has positioned us well for future growth. Our fellows support dropped marginally on the full fellowship side but increased exponentially on our university and associate programs side to provide an overall net growth in fellowships. We still however face the daunting challenge of being able to support all of our qualified fellows and the statistic that 2/3 of these qualified individuals go unfunded still haunts us. Moving forward, our singular focus as an organization will be to aggressively reduce those numbers as they do an injustice to the scientific community and America as a whole. We anticipate the consortium to rise to that challenge and have thematically called this journey “Maximizing the value of the consortium”, a phrase that reminds us that we are all in this together and with our size, we can have significant impact within our own organizations, amongst each other and as we look at the work of our young fellows, within the US and the world at large as technology and problem solvers drive the world. Now in our 41st year of existence, we have begun our focus towards what we can accomplish by the time we hit 50. This next decade will be one of extreme growth and impact for GEM as we honor those who sacrificed and succeeded over the past 40 years in the only way that truly matters…by no longer turning away any qualified scientist and technologist. The talent exists, the journey is real, the challenge significant but our resolve unrelenting.
BRENNON MARCANO CHIEF EXECUTIVE OFFICER
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
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gradLab
SM
An advanced degree in engineering or science can open doors to even more challenging and responsible careers— especially in the dynamic and sophisticated areas of high technology research. Every year a significant number of underrepresented minorities enter undergraduate engineering and science curricula; however, under-represented minorities represent less than five percent of the recipients of advanced degrees in engineering or science. It is GEM’s belief that if highly qualified minority students were exposed to the benefits of a career in research and technology innovation, via presentations from individuals from their communities who have received a graduate engineering or science degree and are currently successful in their careers, and were given resources on how to apply to graduate school, more students would apply and successfully matriculate in graduate engineering and science programs. GEM conducts two signature programs to promote the participation and successful graduation of underrepresented minorities at the graduate level in science and engineering. GEM’s signature undergraduate program, called
4
GRAD Lab (Getting Ready for Advanced Degree Laboratory), inspires close to one thousand under-represented STEM undergraduates annually to pursue a graduate degree in engineering or science. The GRAD Lab is currently supported by The Intel Foundation. GRAD Lab is GEM’s first programmatic offering for undergraduates! Launched at the 30th Anniversary Conference in June 2006 to outstanding participant reviews, GRAD Lab offers under-represented students exposure to the benefits of research and technology careers in a highly interactive one-day event. GRAD Lab encourages young people of color to consider graduate engineering or science education and applying for the GEM fellowship. Focusing on the global importance of research and innovation, life-long career benefits, and real world role models the symposium will help each student envision his or her future as a technology leader, successfully apply for a GEM fellowship, and gain entry to a graduate program. GRAD Lab is GEM’s portable and scalable solution for developing diverse technical talent with advanced degrees.
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October 15
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October 22
April 1, 2017
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
als ion fe s s and
Pro Fut
ure
Fac
ulty
GEM’s signature graduate program, FFP Symposium provides comprehensive programming to current graduate students to ensure successful completion of rigorous STEM graduate programs. The goal of the FFP Symposium is to provide graduate students with improved research and career competitiveness, tools and metrics for greater control in career planning, and to gain access to a powerful network of peers and mentors.
2017 GEM FULL FELLOWS
6
Name
Expected Degree Major
University Signed With
Matched Employer Name
Alexander Adeleye
MS Electrical Engineering
Columbia University
Intel Corporation
Theodore Agbi
PhD Chemical Engineering
University of Wisconsin - Madison
National Renewable Energy Laboratory
Alexa Aguilar
MS Aerospace
Massachusetts Institute of Technology
MIT Lincoln Laboratory
Chidimma Amagwula
PhD Electrical Engineering
University of Texas - Austin
Intel Corporation
Daniel Banco
PhD Electrical Engineering
Tufts University
Johns Hopkins University Applied Physics Laboratory
Kreston Barron
PhD Aerospace
Georgia Institute of Technology
Oak Ridge National Laboratory
Crystal Bell
PhD Chemistry
Georgia Institute of Technology
Brookhaven National Laboratory
Daisy Benitez
MS Electrical Engineering
University of Southern California
Los Alamos National Laboratory
Joshua Benjamin
PhD Civil Engineering
University of South Florida
Oak Ridge National Laboratory
Gerard Bennett
MS Aerospace
Georgia Institute of Technology
Sandia National Laboratory
Bryan Blaise
PhD Mechanical Engineering
Georgia Institute of Technology
Oak Ridge National Laboratory
Desmond Bonner
PhD Industrial Engineering
Iowa State University
Intel Corporation
Ali Booeshaghi
PhD Mechanical Engineering
California Institute of Technology
Eaton Corporation
Jacqueline Brixey
PhD Computer Science
University of Southern California
Adobe Systems Incorporated
McKenzie Brown
MS Electrical Engineering
Florida A&M University
Intel Corporation
Andrea Bryant
PhD Physics
University of Chicago
Fermi National Accelerator Laboratory
De'Aira Bryant
PhD Computer Science
Georgia Institute of Technology
Adobe Systems Incorporated
Hector Camarena
MS Computer Science
University of Minnesota
MITRE Corporation
Stephanie Cantu
MS Mechanical Engineering
University of California - Berkeley
Intel Corporation
Fernando Caralt
MS Mechanical Engineering
Georgia Institute of Technology
3M Company
Maya Carrasquillo
PhD Civil Engineering
University of South Florida
Intel Corporation
Andrea Castro
PhD Computer Science
University of California - San Diego
Intel Corporation
Sue Celestin
PhD Chemical Engineering
Northeastern University
Los Alamos National Laboratory
Trishelle Copeland-Johnson
PhD Material Science
Iowa State University
Brookhaven National Laboratory
Paul Crouther
PhD Computer Science
University of Massachusetts - Amherst
Adobe Systems Incorporated
Darius Davis
MS Computer Science
North Carolina A&T State University
Qualcomm, Incorporated
Carlos Diaz-Ruiz
PhD Mechanical Engineering
Cornell University
Johnson & Johnson
Ashana Evans
MS Computer Science
Georgia Institute of Technology
Intel Corporation
Robert Ford
PhD Electrical Engineering
Georgia Institute of Technology
Intel Corporation
Lucas Gallegos
MS Mechanical Engineering
University of Texas at Austin
Los Alamos National Laboratory
Edgar Garay
PhD Electrical Engineering
Georgia Institute of Technology
Intel Corporation
Miles Gepner
MS Computer Science
University of Massachusetts - Amherst
MIT Lincoln Laboratory
Jonathan Guandique
MS Applied Science
University of Maryland - College Park
Shell Oil Company
Dylan Gunn
MS Computer Science
North Carolina A&T State University
Northrop Grumman Corporation
Bakari Hassan
MS Electrical Engineering
University of California, Los Angeles
MITRE Corporation
Blakeley Hoffman
PhD Computer Science
Massachusetts Institute of Technology
Adobe Systems Incorporated
Imani-Kai Horton
PhD Electrical Engineering
Northeastern University
MIT Lincoln Laboratory
Vito Iaia
PhD Physics
Syracuse University
MIT Lincoln Laboratory
Hope Idaewor
MS Computer Science
Georgia Institute of Technology
Intel Corporation
Cedrick Ilo
MS Computer Science
Virginia Polytechnic Institute & State University
Adobe Systems Incorporated
Nick Jean-Louis
PhD Mechanical Engineering
Rice University
Oak Ridge National Laboratory
Isaac Jones
PhD Industrial Engineering
University of Michigan
Pacific Northwest National Laboratory
David Jovel
PhD Aerospace
Georgia Institute of Technology
Aerospace Corporation
Brittany Keys
PhD Optics and Photonics
University of Central Florida
Corning Incorporated
Julie Kibui
MS Biomedical
University of Michigan
Lawrence Livermore National Laboratory
Prince Kuevor
PhD Robotics
University of Michigan
MIT Lincoln Laboratory
Yash-yee Logan
PhD Electrical Engineering
Georgia Institute of Technology
Intel Corporation
Josue Lopez
PhD Electrical Engineering
Massachusetts Institute of Technology
MIT Lincoln Laboratory
Michael Maestas
MS Mechanical Engineering
Colorado School of Mines
Los Alamos National Laboratory
Daniel Martin
MS Computer Science
Carnegie Mellon University
Intel Corporation
Terese Martinez
MS Mechanical Engineering
Georgia Institute of Technology
Eaton Corporation
Antwane Mason
PhD Computer Science
Rensselaer Polytechnic Institute
MIT Lincoln Laboratory
Justice Mason
MS Aerospace
Princeton University
Aerospace Corporation
Randy Matos
PhD Electrical Engineering
Florida International University
Intel Corporation
Alexander McMillan
MS Nuclear
University of Michigan
MIT Lincoln Laboratory
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
2017 GEM FULL FELLOWS Name
Expected Degree Major
University Signed With
Matched Employer Name
Tenisha Meadows
PhD Chemistry
Washington State University
Pacific Northwest National Laboratory
Emanuel Mendiola
MS Electrical Engineering
Stanford University
National Renewable Energy Laboratory
Nico Mesyngier
PhD Mechanical Engineering
University of Michigan
Draper Laboratory
Katherine Mizrahi
PhD Material Science
Massachusetts Institute of Technology
Corning Incorporated
Linda Moise
MS Computer Science
University of Maryland - Baltimore County
Lexmark International, Inc.
Chris Monroe
MS Industrial Engineering
Georgia Institute of Technology
Brookhaven National Laboratory
Karl Mukeba
PhD Chemistry
Mississippi State University
Intel Corporation
Abdurrahman Munir
MS Computer Science
University of Southern California
Adobe Systems Incorporated
Gedeon Nyengele
PhD Electrical Engineering
Stanford University
Intel Corporation
Chukwuemeka Obikwelu
PhD Electrical Engineering
Georgia Institute of Technology
Oak Ridge National Laboratory
Elvis Offor
MS Computer Science
University of Tennessee-Knoxville
Pacific Northwest National Laboratory
Ikenna Okafor
PhD Computer Engineering
Pennsylvania State University
Intel Corporation
Jonathan Osei-Owusu
MS Computer Engineering
Georgia Institute of Technology
Intel Corporation
Kendall Parker
PhD Mechanical Engineering
University of Florida
National Renewable Energy Laboratory
Allyssa Paul
MS Mechanical Engineering
University of Southern California
Aerospace Corporation
Adam Poliak
PhD Computer Science
Johns Hopkins University
MIT Lincoln Laboratory
Katherine Ramos
PhD Mechanical Engineering
University of Notre Dame
Intel Corporation
Eric Redondo
MS Computer Science
Stanford University
Intel Corporation
Javier Reyna
MS Mechanical Engineering
Stanford University
Lawrence Berkeley National Laboratory
Armisha Roberts
PhD Computer Science
University of Florida
Booz Allen Hamilton
Gabriel Rodriguez
MS Industrial Engineering
Stanford University
ExxonMobil
Gabriel Ruiz
PhD Statistics
University of California - Los Angeles
Draper Laboratory
Lee Rutledge
MS Computer Engineering
University of Michigan
Qualcomm, Incorporated
Vanessa Sanchez
PhD Material Science
Harvard University
Draper Laboratory
Ayobami Shoyinka
MS Mechanical Engineering
Texas A&M University
Los Alamos National Laboratory
Zachary Silva
MS Electrical Engineering
Georgia Institute of Technology
Sandia National Laboratory
Dennis Sosa
MS Computer Science
Georgia Institute of Technology
Adobe Systems Incorporated
Douglas Soto
MS Electrical Engineering
Columbia University
Intel Corporation
Doneisha Steele
PhD Electrical Engineering
University of Delaware
Fermi National Accelerator Laboratory
Michael Thompson
MS Aerospace
Stanford University
Aerospace Corporation
Alejandro Trujillo
PhD Aerospace
Massachusetts Institute of Technology
Aerospace Corporation
Sophia Valenzuela
PhD Chemical Engineering
University of California - San Diego
National Renewable Energy Laboratory
Jessica Velez
PhD Biomedical
University of Tennessee-Knoxville
Oak Ridge National Laboratory
Anthony Villareal
MS Mechanical Engineering
Georgia Institute of Technology
Oak Ridge National Laboratory
Ranysha Ware
PhD Computer Science
Carnegie Mellon University
MIT Lincoln Laboratory
Brian Wilcox
PhD Computer Engineering
University of California, San Diego
Intel Corporation
David Wugofski
MS Electrical Engineering
Stanford University
Intel Corporation
Kobla Zilevu
MS Computer Engineering
Virginia Polytechnic Institute & State University
Intel Corporation
2017 GEM ASSOCIATE & UNIVERSITY FELLOWS Name
Fellowship Type
Expected Degree Major
University Signed With
Elise Adamson
GEM Associate Fellow
PhD Chemical Engineering
Duke University
Kofi Addo
GEM Associate Fellow
PhD Mechanical Engineering
University of Maryland - College Park
Arturo Aguirre
GEM Associate Fellow
PhD Chemistry
University of Iowa
Alexander Alvara
GEM Associate Fellow
PhD Mechanical Engineering
Columbia University
Leah Anderson
GEM Associate Fellow
PhD Biomedical
Georgia Institute of Technology
Andres Arango
GEM Associate Fellow
PhD Applied Science
University of Illinois Urbana
Emanuel Azcona
GEM Associate Fellow
PhD Electrical Engineering
Northwestern University
Brad Bachu
GEM Associate Fellow
PhD Physics
Princeton University
Sergio Ballivian
GEM Associate Fellow
MS Civil Engineering
Virginia Polytechnic Institute & State University
Jamie Barber
GEM Associate Fellow
MS Electrical Engineering
University of Texas at Austin
Eimy Bonilla
GEM Associate Fellow
PhD Civil Engineering
Harvard University
2017 GEM ASSOCIATE & UNIVERSITY FELLOWS
8
Name
Fellowship Type
Expected Degree Major
University Signed With
Katya Borgos-Rodriguez
GEM Associate Fellow
PhD Computer Science
Northwestern University
Michael Caple
GEM Associate Fellow
PhD Material Science
University of Illinois Urbana
Pierre Casco
GEM Associate Fellow
PhD Applied Science
University of Maryland - College Park
Haniyyah Chapman
GEM Associate Fellow
PhD Civil Engineering
Virginia Polytechnic Institute & State University
Marko Chavez
GEM Associate Fellow
PhD Physics
University of Southern California
Shanice Clarke
GEM Associate Fellow
PhD Computer Science
University of South Florida
Katrina Colucci-Chang
GEM Associate Fellow
PhD Biomedical
Virginia Polytechnic Institute & State University
Yoel Cortes-Pena
GEM Associate Fellow
PhD Agricultural and Biological
University of Illinois Urbana
Erica Dasi
GEM Associate Fellow
PhD Applied Science
University of South Florida
Tsegereda Esatu
GEM Associate Fellow
PhD Electrical Engineering
University of California Berkeley
Denzel Faulkner
GEM Associate Fellow
PhD Biomedical
Rensselaer Polytechnic Institute
Matthew Ferby
GEM Associate Fellow
MS Civil Engineering
Virginia Polytechnic Institute & State University
Michelle Fuhrman
GEM Associate Fellow
PhD Chemistry
California Institute of Technology
Jose Gomez
GEM Associate Fellow
PhD Mathematics
Binghamton University
Matthew Guerrero
GEM Associate Fellow
PhD Biomedical
Tufts University
Cameron Hansel
GEM Associate Fellow
MS Mechanical Engineering
Michigan Technological University
Mya Havard
GEM Associate Fellow
MS Computer Science
Stanford University
Ifayoyinsola Ibikunle
GEM Associate Fellow
PhD Chemical Engineering
Georgia Institute of Technology
Ifeoluwa Ibitayo
GEM Associate Fellow
MS Mechanical Engineering
Purdue University
Aneek James
GEM Associate Fellow
PhD Electrical Engineering
Columbia University
Mekhakhem Kheperu
GEM Associate Fellow
PhD Civil Engineering
University of Illinois Urbana
Netgie Laguerre
GEM Associate Fellow
PhD Chemistry
Princeton University
Braden Li
GEM Associate Fellow
PhD Fiber and Polymer
North Carolina State University
Matthew McFarlane
GEM Associate Fellow
MS Mechanical Engineering
University of Kansas
Edgar Mendoza
GEM Associate Fellow
PhD Mechanical Engineering
Carnegie Mellon University
David Motley
GEM Associate Fellow
MS Mechanical Engineering
Stanford University
Libere Ndacayisaba
GEM Associate Fellow
PhD Applied Science
University of Southern california
Victoria Nneji
GEM Associate Fellow
PhD Mechanical Engineering
Duke University
Daniel Ocasio
GEM Associate Fellow
PhD Chemical Engineering
University of California Berkeley
Benjamin Oster
GEM Associate Fellow
MS Mechanical Engineering
Cornell University
Robynn-Lynne Paldi
GEM Associate Fellow
PhD Material Science
Purdue University
Victoria Parker
GEM Associate Fellow
PhD Chemistry
University of Iowa
Alexis Pena
GEM Associate Fellow
PhD Biomedical
Johns Hopkins University
Jessica Pena
GEM Associate Fellow
PhD Optics and Photonics
University of Central Florida
Maria Piroli
GEM Associate Fellow
MS Biomedical
University of South Carolina
Maria Prado
GEM Associate Fellow
PhD Physics
University of Wisconsin - Madison
Matthew Rich
GEM Associate Fellow
PhD Biomedical
North Carolina State University
Jose Rivas-Padilla
GEM Associate Fellow
PhD Mechanical Engineering
Purdue University
Angelo X. Rivera Santiago
GEM Associate Fellow
MS Aerospace
Purdue University
William Sealy
GEM Associate Fellow
PhD Aerospace
Georgia Institute of Technology
Senam Tamakloe
GEM Associate Fellow
MS Material Science
Virginia Polytechnic Institute & State University
Danielle Thomas
GEM Associate Fellow
PhD Civil Engineering
University of Iowa
Aleczandria Tiffany
GEM Associate Fellow
PhD Chemical Engineering
University of Illinois Urbana
Wendy Velasquez Ebanks
GEM Associate Fellow
PhD Computer Science
Carnegie Mellon University
Britney Washington
GEM Associate Fellow
PhD Chemical Engineering
Wisconsin - Madison, University
Alisa White
GEM Associate Fellow
PhD Biomedical
University of Maryland - College Park
Allante Whitmore
GEM Associate Fellow
PhD Applied Science
Carnegie Mellon University
Don Whyte
GEM Associate Fellow
MS Civil Engineering
University of California - Los Angeles
Angelica Willis
GEM Associate Fellow
MS Computer Science
Stanford University
Evan Wood
GEM Associate Fellow
MS Mechanical Engineering
Virginia Polytechnic Institute & State University
Brianna HIllman
GEM University Fellow
MS Mechanical Engineering
University of Alabama Huntsville
Micah Jones
GEM University Fellow
MS Chemical Engineering
University of Alabama Huntsville
Maya Lassiter
GEM University Fellow
MS Electrical Engineering
Carnegie Mellon University
Rodrigo Rene Rai Munoz Abujder
GEM University Fellow
MS Electrical Engineering
Carnegie Mellon University
Chinedu Okorafor
GEM University Fellow
MS Chemical Engineering
Carnegie Mellon University
Matthew Rodriguez
GEM University Fellow
MS Industrial Engineering
University of Virginia
Asia Wynn
GEM University Fellow
MS Material Science
Carnegie Mellon University
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
2017 GEM SELECTION DATA Total 2017 GEM Fellows: 161
GEM Fellows by Program 61% Ph.D. Degrees
Average GPA of GEM Fellows
PROGRAM 39% Master’s Degrees
3.49
3.50
Master’s Degree
Ph.D. Degree
Program
Count
Percentage
Ph.D. Degrees
99
61%
Master’s Degrees
62
39%
GEM Fellows by Gender 65% Male
GEM Fellows by Major Intended Graduate Major
GENDER
Number of Fellows
Average GPA
% of Total Fellows
Aerospace
11
3.85
6.8%
Applied Science
7
3.20
4.3%
Gender
Biomedical Engineering
9
3.56
5.6%
Chemical Engineering
9
3.70
5.6%
Chemistry
7
3.33
4.3%
Civil Engineering
9
3.31
5.6%
Computer Engineering
5
3.60
3.1%
Computer Science
28
3.55
17.4%
Electrical Engineering
25
3.60
15.5%
Industrial Engineering
5
3.48
3.1%
Material Science
8
3.54
5.0%
Mathematics
2
3.45
1.2%
Mechanical Engineering
28
3.81
17.4%
Ethnicity
Physics
6
3.35
3.7%
Other
2
3.35
1.2%
35% Female
Count
Percentage
Male
96
65%
Female
65
35%
GEM Fellows by Ethnicity 52% African-American/ Black
ETHNICITY
44% Latino/Hispanic 2% Native American/ American Indian 2% Two or more Ethnicities Count
Percentage
African-American/Black
84
52%
Latino Hispanic
65
44%
Native American
6
2%
Two or more Ethnicities
6
2%
GEM 41st Annual Board Meeting and Conference
September 7-9, 2017 | Marriott Marquis New York | New York City, New York MAXIMIZING THE VALUE OF THE CONSORTIUM GEM convened its 2017 Annual Board Meeting and Conference on September 7-9 at the Marriott Marquis New York in Times Square. The conference was structured to engage GEM Representatives in mission-forward discussions and take action through voting on strategic items during the board meeting; while prospective and current graduate students attended workshops, participated in a technical presentation competition & poster session, engaged with graduate and post-doc programs during the Graduate Resource, Post-Doc and Employer Fair, and took advantage of networking opportunities with representatives during the Opening Session pre-reception and event. A highlight of this year’s event was the GEM 2017 Leadership Awards Gala and Reception those GEM alumni, university and employer leaders and champions that have embodied GEM’s first forty years of achievement toward our mission.
“Welcome to the Big Apple” Opening Session The Opening Session created a phenomenal opportunity for members and students to gather to meet or reconnect with other GEM supporters, fellows and champions. The session began with opening presentations and videos from the sponsors, and ended with a participants joining the 2017 GEM Leadership Awards gala for an opening evening dinner event.
Eric D. Evans, PhD
Mary C. Boyce, PhD
Sotirios Ziavras, PhD
Sponsored by:
Friday Morning Plenary The Friday breakfast plenary session provided an update by GEM’s board president, and Lab Director at MIT Lincoln Laboratory, Dr. Eric Evans on the state of the organization, followed by a rousing panel discussion moderated by Carnegie Mellon University’s College of Engineering Director of the Diversity Initiative and Professor of Electrical and Computer Engineering, Dr. Shawn Blanton. Shawn Blanton, PhD
Jonathan Cagan, PhD
James H. Garrett, Jr., PhD, PE
Sponsored by:
Chief Diversity Officer Roundtable A gathering of Chief Diversity Officers and Leadership from the top technical firms and research universities in our nation, this panel discussion highlighted how sponsor companies and universities can maximize methods for recruiting diverse talent and supporting their pursuit of graduate STEM degrees. This roundtable was moderated by event sponsor, Intel’s Vice President in Human Resources & Director of Corporate Affairs, and President of the Intel Foundation, Rosalind (Roz) L. Hudnell. Sponsored by: Roz Hudnell 10
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
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Friday Lunch Plenary: Chief Diversity Officer Roundtable Revisited The Friday lunch plenary session, moderated by GEM CEO Brennon Marcano, created an opportunity for attendees to gain insight from various industry and university Chief Diversity Officers and Leadership engaged in the Chief Diversity Officer Roundtable.
Brennon Marcano
Menah Pratt-Clark, PhD
Joseph Nsengimana
Damon L. Williams, Jr., PhD
Sponsored by:
Student-Focused Programming
Dr. Menah Pratt-Clarke Photo.htm[8/25/2016 1:38:25 PM]
Sponsored by:
The National GEM GRAD Lab, sponsored by the Intel Corporation, and Future Faculty and Professionals (FFP) Symposium workshops provided student content focused on leadership and academic success were phenomenal and truly assisted the students on their path of excellence toward attainment of graduate STEM degrees. Additionally, GEM University and Associate Fellows student travel grants to the National FFP Symposium are available thanks to a National Science Foundation grant [Award #1564418].
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2017 Graduate Resource, Post Doc and Employer Fair GEM hosted a graduate, postdoc and employer fair that allowed undergraduate and graduate student attendees to directly interact with University and Employer representatives in attendance on graduate degree and post doc opportunities. Over 40 GEM University and Employer members were present to engage students. Carnegie Mellon University sponsored student professional head shot photos at this year’s event.
Student Professional Photos Sponsored by:
2017 GEM Leadership Awards Gala The 2017 GEM Leadership Awards Gala honored the leaders and champions of diversity in graduate STEM education, and longstanding partners of GEM and our mission. The Gala, hosted by former world renowned television talk show host, Rolonda Watts (CEO & President, Watts Works Productions) and Gala Chair, Dr. Sara Perkovic (Adobe), also showcased the amazing accomplishments of GEM Alumni who have contributed to GEM students’ success. Attendees gathered prior to the Black Tie Gala for networking, beverages, and reconnection. This fundraising gala also included a donor bid campaign with proceeds to benefit the GEM Fellowship program. Implementation of the GEM mission relies heavily on the volunteerism and support of our GEM Alumni and University and Employer partner GEM Champions. At the 2017 gala event, GEM honored the leadership and achievements of individuals who have made significant contributions to the Consortium and our mission.
Mistress of Ceremonies Rolonda Watts CEO and President Watts Works Productions
Gala Chair Sara Perkovic, Ph.D. GEM Board Member, Director, Adobe
Table Sponsors:
Award accepted on behalf of Brian Krzanich by Mr. Michael Greene, Vice President, Software and Service Group & General Manager, System Technologies and Optimization, Intel Corporation
GEM Alumni Association Reunion and Gala Post Reception GEM Alumni and Gala attendees and sponsors joined the GEM Alumni Association for a post-gala cocktail reception to continue the celebration of GEM champions. The event was sponsored by GEM corporate partner, Acadian Asset Management, LLC.
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THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
Sponsored by:
Technical Presentation Competition & Poster Session Students competed for cash awards in the GEM Technical Presentation Competition, sponsored by National Renewable Energy Laboratory. The competition, initially developed to showcase the technical and research assignments of prospective and current GEM Fellows during their summer internship/ summer research experiences, has been expanded to showcase all students’ skills in technical writing and presentations. STEM professionals, like all professionals, must possess a well-developed ability to communicate, both orally and in writing. The TPC is designed to emphasize the value of an ability to conduct research, engage in a high level of technology and to deliver oral presentations. This year’s winners by category are:
2nd Year PhD and Beyond Level 1st PLACE
2nd PLACE
3rd PLACE
Adrienne Sands 2015 GEM PhD Fellow University of Minnesota Adobe Systems Incorporated
Chukwuemeka N. Obikwelu 2017 GEM PhD Fellow Georgia Institute of Technology Oak Ridge National Laboratory
Sean Peters 2015 GEM PhD Fellow Stanford University
Pictured left to right: Dr. Marcus Huggans (GEM), Sean Peters, Adrienne Sands, Chukwuemeka Obikwelu, Dr. Johney Green, Jr. (Sponsor Rep, NREL, Board Member, GEM Operations Committee)
Master’s and 1st Year PhD Level 1st PLACE
2nd PLACE
3rd PLACE
Julio Martinez 2016 GEM Master’s Fellow Stanford University Adobe Systems Incorporated
Daisy Benitez 2017 GEM Master’s Fellow University of Southern California Los Alamos National Laboratory
Myles Wright-Walker 2016 GEM Master’s Fellow Univ. of Southern California Intel Corporation
Pictured left to right: Dr. Marcus Huggans (GEM), Julio Martinez, Daisy Benitez, Myles Wright-Walker, Dr. Johney Green, Jr. (Sponsor Rep, NREL, Board Member, GEM Operations Committee)
Poster Session - PhD Nine (9) students also participated in the Poster Session, presenting undergraduate, graduate, and fellowship internship-based research to a panel of judges. The winner of the 2017 Poster Session is: Serrae Reed Current Undergraduate Student Material Science, University of Houston Pictured left to right: Dr. Marcus Huggans (GEM), Serrae Reed, Dr. La’Tonia Stiner-Jones (TPC Co-Chair, The Ohio State University, Board Member, GEM Finance Committee)
THANK YOU TO OUR 2017 CONFERENCE SPONSORS MOTIVATOR SPONSORS
INNOVATOR SPONSORS
EDUCATOR SPONSORS
HERO SPONSORS
SUPPORTER SPONSORS
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
13
FINANCIAL STATEMENTS Years Ended June 30, 2017 and 2016
Independent Auditors’ Report To the Board of Directors National Consortium for Graduate Degrees for Minorities in Engineering and Science, Inc. Alexandria, Virginia We have audited the accompanying financial statements of the National Consortium for Graduate Degrees for Minorities in Engineering and Science, Inc. (GEM), which comprise the statements of financial position as of June 30, 2017 and 2016, and the related statements of activities and cash flows for the years then ended and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the
14
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the National Consortium for Graduate Degrees for Minorities in Engineering and Science, Inc. as of June 30, 2017 and 2016, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Oaks, Pennsylvania February 15 2018
STATEMENTS OF FINANCIAL POSITION June 30, 2017 and 2016
2017
2016
ASSETS CURRENT ASSETS Cash and temporary cash investments
$856,113
$1,018,691
Membership fees and other receivables
360,562
698,910
15,815
-
1,232,490
1,717,601
3,694,142
3,303,989
763,696
785,586
5,690,328
5,807,176
-
1,397
Future event donations
1,000
1,000
Unearned membership fees
2,000
25,000
228,050
326,960
44,306
42,465
275,356
396,822
332,906
376,236
Undesignated
583,958
702,826
Board-designated
637,759
861,096
3,860,349
3,470,196
TOTAL NET ASSETS
5,082,066
5,034,118
TOTAL LIABILITIES AND NET ASSETS
$5,690,328
$5,807,176
Prepaid expenses TOTAL CURRENT ASSETS INVESTMENTS PROPERTY AND EQUIPMENT, net TOTAL ASSETS LIABILITIES AND NET ASSETS CURRENT LIABILITIES Accounts payable
Deferred revenue Current portion of long-term debt TOTAL CURRENT LIABILITIES LONG-TERM DEBT NET ASSETS Unrestricted
Funds functioning as endowment
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
15
STATEMENT OF ACTIVITIES Year Ended June 30, 2017
Unrestricted Board-Designated Undesignated
Funds Other Functioning as Designated Endowment
Designated Fellowships
Totals
REVENUE 2,092,500
$-
$-
$-
2,092,500
Events/conferences
354,134
-
-
-
354,134
Investment income
199
-
-
403,503
403,702
Contributions
346,650
-
-
-
346,650
Alumni giving
13,396
-
-
-
13,396
Other revenue
16,579
-
-
-
16,579
Membership fees
TOTAL REVENUE AWARDED FELLOWSHIPS, net
2,823,458
-
-
403,503
3,226,961
(1,567,500)
1,567,500
-
-
-
EXPENSES 7,660
-
-
-
7,660
Consulting fees
22,741
-
-
-
22,741
Depreciation
26,161
-
-
-
26,161
291,963
-
-
-
291,963
-
1,790,837
-
-
1,790,837
Insurance
10,240
-
-
-
10,240
Interest expense
17,926
-
-
-
17,926
-
-
-
13,350
13,350
Miscellaneous
14,447
-
-
-
14,447
Other benefits
Bank service fees
Events/conferences Fellowship expenses
Investment fees
153,168
-
-
-
153,168
Postage
1,630
-
-
-
1,630
Printing
3,391
-
-
-
3,391
Professional fees
79,882
-
-
-
79,882
Real estate taxes
9,182
-
-
-
9,182
16,519
-
-
-
16,519
646,708
-
-
-
646,708
Repairs and maintenance Salaries and wages
4,270
-
-
-
4,270
Travel
53,495
-
-
-
53,495
Utilities
15,443
-
-
-
15,443
TOTAL EXPENSES
1,374,826
1,790,837
-
13,350
3,179,013
CHANGE IN NET ASSETS
(118,868)
(223,337)
-
390,153
47,948
702,826
204,737
656,359
3,470,196
5,034,118
-
-
-
-
-
$583,958
$(18,600)
$656,359
$3,860,349
$5,082,066
Supplies
NET ASSETS AT BEGINNING OF YEAR Board designation of funds functioning as endowment
NET ASSETS AT END OF YEAR
See accompanying notes.
16
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
STATEMENT OF ACTIVITIES
Year Ended June 30, 2016
Unrestricted Board-Designated Undesignated
Funds Other Functioning as Designated Endowment
Designated Fellowships
Totals
REVENUE 2,272,500
$-
$-
$-
2,272,500
Events/conferences
301,621
-
-
-
301,621
Investment income
67
-
-
49,103
49,170
Contributions
368,225
-
-
-
368,225
Alumni giving
10,280
-
-
-
10,280
Other revenue
22,189
-
-
-
22,189
Membership fees
TOTAL REVENUE AWARDED FELLOWSHIPS, net
2,974,882
-
-
49,103
3,023,985
(1,645,000)
1,645,000
-
-
-
EXPENSES 7,331
-
-
-
7,331
Consulting fees
11,747
-
-
-
11,747
Depreciation
27,856
-
-
-
27,856
Bank service fees
231,018
-
-
-
231,018
-
1,681,102
-
-
1,681,102
6,914
-
-
-
6,914
19,043
-
-
-
19,043
-
-
-
13,105
13,105
Miscellaneous
30,947
-
-
-
30,947
Other benefits
Events/conferences Fellowship expenses Insurance Interest expense Investment fees
162,886
-
-
-
162,886
Postage
2,988
-
-
-
2,988
Printing
9,872
-
-
-
9,872 74,753
Professional fees
74,753
-
-
-
Real estate taxes
8,539
-
-
-
8,539
15,504
-
-
-
15,504
665,411
-
-
-
665,411
Repairs and maintenance Salaries and wages
4,860
-
-
-
4,860
Travel
25,153
-
-
-
25,153
Utilities
15,327
-
-
-
15,327
1,320,149
1,681,102
-
13,105
3,014,356
9,733
(36,102)
-
35,998
9,629
693,093
34,839
656,359
3,640,198
5,024,489
-
206,000
-
(206,000)
-
$702,826
$204,737
$656,359
$3,470,196
$5,034,118
Supplies
TOTAL EXPENSES CHANGE IN NET ASSETS NET ASSETS AT BEGINNING OF YEAR Board designation of funds functioning as endowment
NET ASSETS AT END OF YEAR
See accompanying notes.
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
17
STATEMENT OF CASH FLOWS
Years Ended June 30, 2017 AND 2016
2017
2016
CASH FLOWS FROM OPERATING ACTIVITIES
47,948
$9,629
26,161
27,856
(319,615)
71,675
Membership fees and other receivables
338,348
435,940
Prepaid expenses
(15,815)
-
(1,397)
(41,821)
Unearned membership fees
(23,000)
-
Deferred revenue
(98,910)
121,810
(46,280)
625,089
Purchase of property and equipment
(4,271)
-
Sale of investments
13,350
678,105
(83,888)
(579,778)
(74,809)
98,327
-
-
(41,489)
(40,372)
(162,578)
683,044
1,018,691
335,647
$ 856,113
$1,018,691
$17,926
$19,043
Change in net assets Adjustments to reconcile change in net assets to net cash provided (used) by operating activities Depreciation Unrealized gain on investments (Increase) decrease in
Increase (decrease) in Accounts payable
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investments NET CASH PROVIDED BY INVESTING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES Long-term borrowings Principal payments on long-term debt NET INCREASE (DECREASE) IN CASH AND TEMPORARY CASH INVESTMENTS CASH AND TEMPORARY CASH INVESTMENTS AT BEGINNING OF YEAR CASH AND TEMPORARY CASH INVESTMENTS AT END OF YEAR SUPPLEMENTAL DISCLOSURES Cash paid during the year for interest
See accompanying notes.
Cash Check: Cash Per Financial Position Variance
18
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
856,113
NOTES TO FINANCIAL STATEMENTS
June 30, 2017 and 2016
NOTE A ORGANIZATION The National Consortium for Graduate Degrees for Minorities in Engineering and Science, Inc. (GEM) is a separately incorporated notfor-profit organization whose purpose is to provide aid and support to minority students pursuing graduate degrees in the field of engineering and science. Revenue consists of corporate contributions and membership fees from corporate and university members.
NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the accounting policies adopted by GEM, which have a significant effect on the financial statements. Basis of Accounting The financial statements have been prepared on the accrual basis of accounting, whereby revenues are recognized when earned and expenses when incurred. Basis of Presentation Under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 958-225-45, GEM is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets and permanently restricted net assets. GEM does not have any restricted net assets. Cash and Temporary Cash Investments Resources invested in money market funds and short-term investments with maturities of three months or less at date of purchase are classified as temporary cash investments. Accounts Receivable Accounts receivable are stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts through a provision for bad debt expense and an adjustment to a valuation allowance based on its assessment of the current status of individual accounts. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. At June 30, 2017 and 2016, there was no valuation allowance. Investments Investments in marketable securities with readily determinable fair value and all investments in debt securities are reported at their fair values in the statements of financial position. Unrealized gains (losses) are included in the change in net assets. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The general capitalization policy is that all equipment and other fixed assets costing in excess of $1,000 will be recorded as an asset. Tax Status GEM is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes on related income pursuant to Section 501(a) of the Internal Revenue Code. Contributions Contributions consist of GEM member sponsorships that are recognized as unrestricted revenues in the period such contributions are received.
Membership Fees Membership fees, which are billed in advance, are recognized as revenue when earned. Unearned fee revenue represents membership fees billed for periods extending beyond year-end. Awarded Fellowships, Net As GEM fellowships are awarded, the amounts associated with each award are transferred to Board-designated net assets. These amounts are net of fellowship offers declined and amounts related to students who have withdrawn from a GEM fellowship program or who have graduated without expending the full designated amounts. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Date of Management’s Review Management has evaluated subsequent events through February 15, 2018, the date which the financial statements were available to be issued.
NOTE C FINANCIAL INSTRUMENTS AND CONCENTRATIONS OF CREDIT RISK Financial Instruments The carrying values of GEM’s financial instruments approximate their estimated fair values. The following methods and assumptions were used to estimate the fair value of each class of financial instruments: •
Cash and Temporary Cash Investments - The carrying amount approximates fair value due to the short-term maturity of these instruments.
•
Marketable Securities and Investments - The fair value of marketable securities and investments held for investment purposes is based on quoted market prices.
Concentrations of Credit Risk Financial instruments which potentially subject GEM to concentrations of credit risk consist principally of cash and accounts receivable. GEM places its cash with high credit quality institutions. At times, such amounts may be in excess of the FDIC insurance limits. Concentrations of credit risk with respect to trade accounts receivable are generally diversified due to the large number of individuals comprising GEM’s customer base.
NOTE D INVESTMENTS Investments are carried at market. The following summarizes the relationship between cost and carrying values at market value at June 30, 2017 and 2016, and the related investment income included in the statements of activities
2017 Cost
2016 Market
Cost
Market
Mutual Funds Equity
$1,777,600 $2,410,991 $1,725,070 $2,024,463
Fixed income
1,275,212
1,283,151
1,257,205
1,279,526
$3,052,812 $3,694,142 $2,982,275 $3,303,989
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
19
NOTES TO FINANCIAL STATEMENTS June 30, 2017 and 2016
NOTE F PROPERTY AND EQUIPMENT
The composition of investment return consists of:
2017 $ 199
Interest income, cash and cash equivalents Investment portfolio income
83,941
77,897
(53)
$42,881
319,615
(71,675)
$403,702
$49,170
Realized gain Unrealized gain
2016 $ 67
It is GEM’s intent to hold investments for long-term purposes.
Property and equipment consist of the following:
Fixtures and equipment
2017 $97,067
2016 $92,797
Website
172,199
172,199
19,143
19,143
950,983
950,983
1,239,392
1,235,122
(475,696)
-449,536
$763,696
$785,586
2017 $377,212
2016 $418,701
(44,306)
(42,465)
$332,906
$376,236
Phone and security system equipment Buildings
Accumulated depreciation
NOTE E FAIR VALUE MEASUREMENTS FASB ASC 820-10 establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.
Long-term debt is as follows:
Level 1 inputs are unadjusted quoted prices for identical assets or liabilities in active markets that GEM has the ability to access. Level 2 inputs are other than quoted market prices that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on GEM’s assumptions used to measure assets and liabilities at fair value. The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The assets of GEM for which fair values are determined on a recurring basis are summarized as follows: Level 1
2017
2016
MUTUAL FUNDS
Mortgage payable, interest at 4.25%, monthly payments of $4,952, payable to maturity in November 2024, secured by building Current portion
Future maturities of long-term debt are as follows:
Year Ending June 30,
2018
$ 44,306
2019
46,226
2020
48,229
International equity
$958,354
$798,282
Domestic equity
1,452,637
1,226,181
2021
50,319
Short term fixed inome
192,438
186,614
2022
54,775
Intermediate term fixed income
261,826
259,776
Thereafter
International bond
382,010
384,275
Domestic bond
446,877
448,861
$3,694,142
$3,303,989
Mutual funds are valued at the net asset value of shares held by GEM at year-end.
20
NOTE G LONG-TERM DEBT
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
133,357 $377,212
NOTES TO FINANCIAL STATEMENTS
June 30, 2017 and 2016
NOTE H UNRESTRICTED NET ASSETS
NOTE I PROGRAM INFORMATION
Board-designated unrestricted net assets consist of the following:
GEM presently operates the following programs:
2017
2016
M.S. Engineering Fellowship Program
$971,373
$938,400
Ph.D. Engineering & Science Fellowship Program
1,236,294
1,131,600
GEM FELLOWSHIPS
Net assets of $637,759 are designated for operations and fellowship expenses by the board. Endowment GEM classifies as endowment net assets (1) the original value of gifts donated to the endowment, (2) the original value of subsequent gifts to the endowment and (3) enhancements or diminishments of the fund from investment income, loss and spending allowance. Return Objectives and Risk Parameters GEM has adopted investment and spending policies for endowment assets that attempt to provide a relatively predictable and growing stream of annual distributions in support of the institution while preserving the long-term, real purchasing power of assets.
GEM M.S. Engineering Fellowship Program - The objective of the master’s program is to increase the pool of minority M.S. engineering graduates. Each participant is afforded a summer internship experience and a portable academic fellowship of tuition, fees and stipend. Fellows are supported for three semesters or four quarters. GEM Ph.D. Engineering Fellowship Program - This program’s objective is to offer post-master’s fellowships to under-represented minority students. Fellowships may be used at any participating GEM member university. Tuition, fees and an academic year stipend are provided, and the students are afforded a summer internship experience before the start of the first academic year under the program. Fellows may also be required to accept a research or teaching assistantship. GEM Ph.D. Science Fellowship Program - The goal of this program is to increase the number of minority students pursuing doctoral degrees in the natural, physical and life sciences (chemistry, physics, mathematics and computer science, as well as the earth, biological and pharmaceutical sciences). Fellowships are portable to any participating GEM member university and include a stipend, tuition and fees, along with an opportunity for a summer internship experience before the start of the first academic year under the program. Fellows may be required to accept a research or teaching assistantship.
Strategies Employed for Achieving Objectives To satisfy its long-term rate-of-return objectives, GEM relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). GEM’s current assets allocation for endowment funds is structured to achieve the appropriate level of investment return.
For the years ended June 30, 2017 and 2016, a GEM employer or university member pays a non-refundable annual membership fee of $2,500 or $5,000, respectively, to belong to the National GEM Consortium.
Spending Policy and How the Investment Objectives Relate to Spending Policy As of June 30, 2017, GEM’s net asset endowment is invested in a diversified portfolio of equities and fixed assets. GEM intends to use endowment net assets to support operations in accordance with donor stipulations. Each year, the investment committee recommends expenditures based on portfolio growth and earnings. Half of the portfolio earnings, up to 3% of the portfolio value, may be distributed to the general operating accounts of GEM. Endowment expenditures totaled $206,000 for the year ended June 30, 2016.
NOTE J CLASSIFICATION OF EXPENSES
Endowment net assets consist of the following:
2017 $3,470,196
2016 $3,640,198
Investment gain
403,503
49,103
Investment expenses
(13,350)
(13,105)
BEGINNING BALANCE Contributions
Operation expenditures ENDING BALANCE
-
(206,000)
$3,860,349
$3,470,196
The membership fees and additional contributions are recorded as revenue for the purpose of funding GEM programs and extensions.
The classification of expenses is as follows:
2017
2016
$1,790,837
$1,681,102
PROGRAM EXPENSES Fellowships
816,469
785,644
FUND-RAISING
Program activities
195,988
211,588
GENERAL AND ADMINISTRATIVE
375,719
336,022
$3,179,013
$3,014,356
NOTE K 401(k) PLAN GEM has a defined contribution plan (i.e., Section 401(k) under the Internal Revenue Code). GEM contributions are discretionary and determined annually by management. The plan also allows employee contributions through salary reduction. GEM’s contributions for the years ended June 30, 2017 and 2016, were $14,407 and $15,855, respectively.
Endowment net assets are designated for the following purposes as of June 30, 2017 and 2016.
Operations
2017 $3,860,349
2016 $3,470,196
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
21
2017-2016 DONOR LIST University Members Arizona State University Auburn University Binghamton University Boston University Brown University California Institute of Technology Carnegie Mellon University Case Western Reserve University Clemson University Colorado School of Mines Columbia University Cornell University Drexel University Duke University Emory University Florida International University Florida State University Georgia Institute of Technology Harvard University Howard University Illinois Institute of Technology Indiana University Iowa State University Johns Hopkins University Louisiana State University Massachusetts Institute of Technology Michigan State University Michigan Technological University Mississippi State University Missouri University of Science and Technology New Jersey Institute of Technology North Carolina A&T State University North Carolina State University Northeastern University Northwestern University Ohio State University Pennsylvania State University Prairie View A&M University Princeton University Purdue University Rensselaer Polytechnic Institute Rice University Rochester Institute of Technology Rutgers University Stanford University Stevens Institute of Technology Stony Brook University Syracuse University Texas A&M University Texas Tech University The City College of New York Tufts University Tulane University Tuskegee University University California Davis University of Alabama University of Alabama, Huntsville
22
University of Arizona University of Arkansas University of California, Berkeley University of California, Irvine University of California, Los Angeles University of California, Merced University of California, Riverside University of California, San Diego University of California, Santa Barbara University of Central Florida University of Chicago University of Colorado Boulder University of Connecticut University of Delaware University of Florida University of Houston University of Illinois at Urbana-Champaign University of Illinois Chicago University of Iowa University of Kansas University of Kentucky University of Louisville University of Maryland, Baltimore County University of Maryland, College Park University of Massachusetts, Amherst University of Michigan University of Minnesota University of Missouri, Columbia University of New Mexico University of Notre Dame University of Oklahoma University of Pennsylvania University of Pittsburgh University of Puerto Rico, Mayaguez Campus University of Rochester University of South Carolina University of South Florida University of Southern California University of Tennessee, Knoxville University of Texas - Austin University of Texas at El Paso University of Virginia University of Washington University of Wisconsin, Madison Vanderbilt University Virginia Polytechnic Institute & State University Washington State University Worcester Polytechnic Institute Yale University
THE NATIONAL CONSORTIUM | 2016-2017 ANNUAL REPORT
Employer Representatives 3M Company Adobe Systems Incorporated Aerospace Corporation Booz Allen Hamiltion Brookhaven National Laboratory Corning Incorporated Draper Laboratory Eaton ExxonMobil Fermi National Accelerator Laboratory Intel Corporation Johns Hopkins University Applied Physics Laboratory Johnson & Johnson
Lawrence Berkeley National Laboratory Lawrence Livermore National Laboratory Lexmark International, Inc. Los Alamos National Laboratory MIT Lincoln Laboratory MITRE Corporation National Renewable Energy Laboratory Northrop Grumman Oak Ridge National Laboratory Pacific Northwest National Laboratory Qualcomm, Inc. Sandia National Laboratories Shell Oil Company
Alumni & General Giving From $1,000 and above Tony & Cathy Tarango-Flores Anthony Jackson Bruce Lindvall Dr Eric Evans Dr. Araba Lamouse-Smith Forest Agostinelli Jeri Isbell Joan Tafoya Miguel R Sanchez Wayne Hewett William Albright
From $200 - $999 The Benevity Community Impact Fund Bernadette A Carter David Alexander Michael P. Pleasant Anthony B Will Dale Harrigan Felicia Becker Gerald Smith Lakecia N. Gunter Sara Perkovic Applied Materials Foundation Nick Killingsworth Enold Pierre-Louis Desmond Macauley Joselyn Torres-Torres Novella N. Bridges Romayne Botti Edward Garcia Eric C. King Ernesto Morales-Perea Loretta Cheeks
From $1 - $199 Vera Simms Enrique Silva Carol L. Smith - Wooden Claudia V. Roberts Delfina A. Dominguez Erique Henestroza Gerald T. Charles Jr. Hector G Trevino Jarrett Mackey John Lesko John R. Morales Juan Gutierrez Kenneth Baker La’Tonia Stiner-Jones, PhD Olusola Olaode Reates K. Curry PhD Rebecca Hicks Samuel Hargrove Sara Hernandez Sylvia Zhu Victor Wyatt David Jackson Patrick Gerdes IBM Corporation Albino Castro Freda (Washington) Bredy Laura Roberts Paul Obame Samara Heaggans Sandra Begay-Campbell Walter Roper Juan Carlos Mauricia Nathan Trujillo Alfonso D Lopez Amelia Henderson Mitchell L. Walker Ph.D. Salem H Cherenet Theda Daniels-Race William Johnson BNY Mellon Bank
EXECUTIVE COMMITTEE AND STANDING CHAIRS
PRESIDENT Eric D. Evans, Ph.D. Director MIT Lincoln Laboratory
VP, MARKETING & OUTREACH Michael A. Greene, Intel Corporation Felicia Benton-Johnson, EdD., Georgia Institute of Technology Tiffany Simon, EdD., Columbia University VP, HUMAN RESOURCES Jeri L. Isbell, Lexmark International, Inc. Terrence Buck, Brookhaven National Laboratory
GEM STAFF Brennon Marcano, CEO Michael D. Smith, D.Eng., Deputy Executive Director Marcus A. Huggans, Ph.D., Senior Director, External Relations Jamie D. Hicks, Manager, Accounting & Operations
EXECUTIVE VICE PRESIDENT Gary S. May, Ph.D.
Dean of Engineering Georgia Institute of Technology
VP, STRATEGY & POLICY, EMPLOYER Alan C. Mingo, IBM Corporation Mark Vaughn, Ph.D., Corning, Incorporated VP, OPERATION Johney B. Green, Jr., Ph.D., Oak Ridge National Laboratory Felicia Becker, University of Michigan Sara Xayareth Hernandez, Cornell University
VP, FINANCE Frank Schimmoller, MIT Lincoln Laboratory Sara Perkovic, Ph.D., Adobe La’Tonia Stiner-Jones, Ph.D., Ohio State University
TREASURER Anthony Jackson
Senior Engineer Johns Hopkins/Applied Physics Laboratory
VP, AUDIT Romayne Botti, Carnegie Mellon University Gregory Singleton, University of Alabama Terry Alford, Ph.D., Arizona State University VP, ALUMNI EC LIAISON Veronica Nelson, Booz Allen Hamilton President, Alumni Association S. Keith Hargrove, Ph.D., Tennessee State University VP, Alumni Association Joan Tafoya, Intel Corporation
SECRETARY Darryll Pines, Ph.D.
Dean A. James Clark School of Engineering University of Maryland-College Park
VP, PROGRAMS Marcos Esterman, Ph.D., Rochester Institute of Technology Bruce Lindvall, Ph.D., Northwestern University Christine Ortiz, Ph.D., Massachusetts Institute of Technology VP, STRATEGY & POLICY UNIVERSITY John Lesko, Ph.D., Virginia Polytechnic Institute & State University Carolyn Vallas, University of Virginia
Valerie D. Washington, Coordinator, Information Service Antonio Storey, Office Administrator
1430 Duke Street Alexandria, VA 22314 703-562-3646 gemfellowship.org info@gemfellowship.org