MITCNC BOD Meeting, July 28th, 2009
MITCNC Summer Board Meeting
July 28, 2009
2MITCNC BOD Meeting, July 28th, 2009
Agenda• Dinner 6:00 – 7:00 PM
• Club Operational Review 7:00 – 7:45 PM– President’s Report Nelson Lin
– Treasurer’s Report Mike Sarfatti
– IT Status Javed Samuel
• Breakout Sessions (concurrent) 7:45 – 8:30 PM– Evolving Alumni Demographics
– Sponsorship
– Club Operations in Challenging Economy
• Breakout Sessions (summary) 8:30 – 9:00 PM
• Board Business 9:00 – 9:15 PM– Approve minutes Elizabeth Reierstad
– Document Storage John Chisholm
– Nominating Committee Ron Koo
– Scholarship Contribution Bill Murray
• Closed Executive Session 9:15 – 9:30 PM
3MITCNC BOD Meeting, July 28th, 2009
Highlights from the Last Six Months
• Addressed Cash Concerns
– Cash position exceeds forecast by $14k
– Reduced operating costs ~ $5k
• Predominantly from replacing printed Spring newsletter with electronic newsletter
• Postcard announcements of newsletter mailed to alumni inaccessible via email
– Event revenue exceeded forecast by ~ $9k
• Clean Tech and Angel Investment events particularly strong contributors
• Continued to build volunteer base
– Five new officers, including transplants from Boston and NY
– Additional volunteers
• Enhanced IT training materials nearly complete
– Core goal is to support volunteers to leverage system’s functionality
• Resurrected Programs
– Career Development
– Clean Tech
Note: FY2009: August 1 – July 31.
1H 2009
4MITCNC BOD Meeting, July 28th, 2009
Event Highlights – Past Six Months
Date Event Attendees Thanks! to
July 18th Sloan Volunteer Day 15Eric Silverberg / Bob
Meese
June 20th Semiconductor / Clean Tech Mixer + Eleanor the MIT Solar Car
80 Alissa Fitzgerald
June 18th Happy Hour with Stanford and Princeton Alums
160 Elizabeth Lin
May 20th Tyler Jacks on Cancer Research / Inspirational Teacher Awards
80 Bill Reenstra
May 11th / June 8th
Starting a Career in Cleantech (Parts I and II)
100 / 85 Shuja Keen
April 23rd Solving the Puzzle of
Personalized Medicine30
Geetha Rao / Elizabeth Ng
1H 2009
5MITCNC BOD Meeting, July 28th, 2009
New Additions to the Leadership Team – Past Six Months
• Rohit Gupta ’05 – VP Entrepreneurship
• Mike Bowles ’80 – VP Career Development
• Eileen Tanghal ’97 – Director Clean Tech Entrepreneurship
• Mindy Hsu G’06 – Partner Organization Liaison
• David Lackner G’99 – Emerging Technology Council Chair
1H 2009
6MITCNC BOD Meeting, July 28th, 2009
Report Card: Two-Year Overview
External Goals Progress Against Goals
Maintain highly successful programs
– Revitalized programs: Sloan Club, Clean Tech, Career Development
– New programs: Angel Investing, Emerging Technology Council
– Some programs defunct: Nanotech Forum, Sacramento
Reach out to alumni in East Bay and beyond
– East Bay successful (thanks to Bill Reenstra)
– Room for improvement in SF (new venues for SF events may help)
– Leader needed in Sacramento
Continue selected community outreach
– Still more opportunities to work on
– Joel West recently brought on board to lead program
Internal Goals Progress Against Goals
Expand volunteer base
– Natural attrition of some leaders / volunteers offset by strong additions to leadership team
– As volunteer organization, the need to bring in new volunteers is on-going
Upgrade IT system– IT conversion complete, new system functions well, but
continued training and effort needed to maximize benefit
2007-09
ExcellentPoor
7MITCNC BOD Meeting, July 28th, 2009
Maintaining successful programs
Club Year Statistics1:
• Approximately 100 events
• ~3,000 estimated total attendance
• Resurrected programs– Sloan Club of Northern California
– Career Development
– Clean Tech Entrepreneurship
• New Programs– Angel Investing
– Emerging Technology Council
2008-09
1. Club Year runs from Aug 1, 2008 through July 31, 2009
2. Some events can cross categories; e.g., some East Bay lectures cover Scientific Topics, and some Sloan events are social in nature; some events not on club calendar not included in total
Events by Type2 (N~100)
10%
10%
8%
41%
Entrepreneurship
23%
Social
East Bay
9%Sloan
Other
Science & Tech; Life Sciences
8MITCNC BOD Meeting, July 28th, 2009
Striving for Geographic Diversity
• Almost half of events outside of the Silicon Valley
• Continuing push for expanded event coverage beyond Silicon Valley
2008-09
Events by Location (N~100)
53%
14%
14%
East Bay / Sac
19% SF
North Bay
Silicon Valley
9MITCNC BOD Meeting, July 28th, 2009
Thanks to our Sponsors
Sponsorship Sponsor Amount
Spotlight
Corporate SponsorsPalo Alto Investors $5,000
Seifel Consulting $5,000
Individual Sponsors
Kenneth Allen -- Townsend and Townsend and Crew
$1,000
Jeffrey Heller – Heller Manus $1,000
Charles Salter – Charles Salter Associates
$1,000
Anonymous MITCNC Member $1,000
VIP Reception Sponsor MIT Resource Development Office $3,000
Other
Tyler Jacks / Cancer
Research Event Sponsor
MIT Professional Education $500
Total Sponsorship $17,500
2008-09
10MITCNC BOD Meeting, July 28th, 2009
The following in-kind sponsors help the club tremendously by hosting events and providing catering and logistic support:
WSGR
Cooley Godward Kronish
Townsend and Townsend and Crew
In-kind Corporate Sponsors Continue to Support the Club
2008-09
11MITCNC BOD Meeting, July 28th, 2009
Thanks to our Entire Officer Team!
* New to team in 2008-2009
2008-09
Leadership & Infrastructure
Immediate Past President – Ben Matteo
Executive Vice President – Catherine Calarco
Treasurer – Mike Sarfatti
Secretary – Elizabeth Reierstad
VP Communications – Monika Gorkani
VP Membership & Volunteer Int. – Andrey Titov*
Director Volunteer Integration – Alison Chaiken
Partnership Organization Liaison – Mindy Hsu*
Entrepreneurship Program
VP Entrepreneurship – Rohit Gupta*
Director Angel Investments – Shuja Keen
Director Boomertech – Mike Sarfatti
Director Convergence, Community and Commerce –
Vandana Upadhyay
Director Semiconductor – Alissa Fitzgerald
Director Clean Tech – Eileen Tanghal*
Director Venture Mentoring – Jennifer Wang
Science & Technology
Director Life Sciences Forum – Elizabeth Ng
Director Science Lecture Series – Charles Zhou
Emerging Technologies Council Chair – David Lackner*
Community Programs
VP East Bay Events – Bill Reenstra
VP Career Development – Mike Bowles*
VP Social Communities – Daphne Lin*
Director Sports & Recreation – John Keen
Director MIT10 – Elizabeth Lin
K-12 Educational Outreach – Joel West*
Spotlight Chair – Brad Schneider
Affiliate Organizations
Co-President Sloan Club – Eric Silverberg* and Bob Meese*
AMITA Liaison – Radha Nayak
12MITCNC BOD Meeting, July 28th, 2009
Treasurer’s Report
Mike Sarfatti ‘76
13MITCNC BOD Meeting, July 28th, 2009
Cash Reserves, up 10% yr/yr, ending $14k higher than forecasted in February 2009
• Main factors leading to higher than forecast year-end reserves are cost savings from electronic newsletter (~$5k) and increased event revenues in past six months
$87
$136
$93
$113
$87
$98
Feb ’09 Estimate
$82
$0
$40
$80
$120
$160
July 2006 Feb 2007 July 2007 Feb 2008 July 2008 Feb 2009 July 2009
Cash Balance
Scholarship $25k $50k $25k $25k - -
Kintera / IT - - - ~$10k ~$15k ~$3k
Major Uses of Cash
$96
$ T
ho
usa
nd
sFY 2008-09
10%
14MITCNC BOD Meeting, July 28th, 2009
Financial SummaryFY 2007-08 FY 2008-091
Income
Events $52,418 $51,573
Sponsorship $ 15,800 $17,500
Membership Dues and Donations $29,126 $32,130
Bank Interest $ 2,008 $0
Total Income $99,352 $101,203
Expenses
Events $24,842 $43,202
Printing, Postage, Mailing2 $ 25,626 $8,714
Administrative $18,278 $19,246
Internet $ 11,063 $13,728
Processing / Banking Fees $1,721 $2,197
Total Expenses $81,530 $87,087
Scholarship Fund Contributions $25,000 $3,141
AMITA (estimated co-mingled funds) $5,489 $5,749
Net Increase in Cash Reserves ($7,178) $10,475
FY 2008-09
1. As of 1 July 2009. Final Fiscal Year totals may differ.2. 2007-08 had 3 newsletters and color brochure for membership recruitment; 2008-09 had 1 printed newsletter and traditional letter / card
15MITCNC BOD Meeting, July 28th, 2009
Membership Update
Andrey Titov ‘07
Manjari C. Bhatia ‘98
16MITCNC BOD Meeting, July 28th, 2009
Membership increased 14%, matching growth in our alumni database
2003-04 2004-05 2005-06 2006-07 2007-08 2008-09
Registration 1,056 966 898 942 917 1,047
% Y/Y growth -8.5% -7.0% 4.9% -2.7% 14.2%
% Penetration 12.1% 10.8% 9.7% 10.0% 9.6% 9.6%
Area Alums 8,724 8,963 9,236 9,375 9,575 10,911
% Y/Y growth 2.7% 3.0% 1.5% 2.1% 13.9%
1,056966
898 942 917
1,047
0
200
400
600
800
1,000
1,200 MITCNC Membership Registration
17MITCNC BOD Meeting, July 28th, 2009
Paid Membership increased 23%, with gains in all categories1
1. Potential contributing factors to increase: Spotlight, Kintera (bundled event and membership registration), and economic environment driving alumni to network
2. Free Memberships include Recent Grads (Class of ’06, ’07, ‘08); Cardinal & Gray Members; and current students.
636
497
604
108
80
100
70
57
76
128
283
267
0
200
400
600
800
1,000
2006-07 2007-08 2008-09
942 Total917 Total
1,047 Total
Free Members2
Patron
Sustaining
Regular
18MITCNC BOD Meeting, July 28th, 2009
On-line registration continues to grow in popularity
On-line memberships are immediately processed (benefit to member); mail-in registration requires manual processing and can take months for database to update
Percent of Membership Registrations Conducted On-line
24%
19%
32%
42%
54%
64%
0%
10%
20%
30%
40%
50%
60%
70%
2003-04 2004-05 2005-06 2006-07 2007-08 2008-09
19MITCNC BOD Meeting, July 28th, 2009
New IT System and Website
Javed Samuel ’04
20MITCNC BOD Meeting, July 28th, 2009
New website – by the numbers
• ~50 MITCNC events created and managed by Kintera
• ~170 membership registrations
• ~$16,000 from event registration fees
• ~11,500 hits to the home page per month
• ~3,000 hits to calendar page per month
Note: FY2009: August 1 – July 31.
21MITCNC BOD Meeting, July 28th, 2009
Benefits of new Kintera system
• Decentralized administrative tasks, eliminating bottleneck for posting events to website (see next slide)
• Better Event Management and Reporting tools
– Easier to performs tasks such as refunds
– Discount Codes for affiliate groups
– Reports segmented by registration type
• Bundled membership and event registration
• Enhanced website functionality
– Upcoming Events
– News feed from MIT
Note: FY2009: August 1 – July 31.
22MITCNC BOD Meeting, July 28th, 2009
Kintera decentralizes website administration
Note: FY2009: August 1 – July 31.
Admin
Event Org
Event Org
Event Org
Event Org
Event Org
Event Org
Event Org
Event Org
Home page / Calendar
Calendar
Event Org
Event Org
Event Org
Event Org
Event Org
Event Org
Event Org
Event Org
Admin
Home page
Original Website
Kintera Website
23MITCNC BOD Meeting, July 28th, 2009
Kintera – outstanding items and future plans
• Improved Instructions for Officers and Volunteers.
• Further Synchronization with MITAA
• Membership drive
• Migration of email lists currently on Topica
Note: FY2009: August 1 – July 31.
24MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, July 16th, 2008
www.mitcnc.org/mitangels
Shuja Keen ’99
VP Angel Investment
25MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, July 16th, 2008
MIT Angels Overview
• Facilitate introduction of MIT-affiliated entrepreneurs and investors
• Engage the start-up community with committment to invest time and money into cutting-edge, early-stage businesses
• Invite MIT Angels with broad experience and interest in technology, semiconductor, energy, general management, entrepreneurship, finance, consulting and law
• Quarterly meeting - Invite 3 startups per meeting that can benefit from advice or investment (preference for companies started by MIT alum entrepreneurs)
• Deal Selection Team evaluates more than 50 business plans to select the 3 presenting companies
26MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, July 16th, 2008
Significant interest in MIT Angels
• Co-hosted events– June 13, 2009: Cleantech Pitch Lunch at Computer History Museum
• Co-hosted with Organization of Pakistani Entrepreneurs (OPEN)
• 30 applications – invited 8 companies to present. 50 investors attended.
• Sponsorship / Media Partner– June 26, 2009: Financing the Cleantech Vision
• Hosted by Reuters & Ventures Capital Journal
• 60% discount for MIT Alums
– June 3-5, 2009: 20th Annual Venture Capital Investing Conference
• Hosted by IBF & National Venture Capital Association
• 55% discount for MIT Alums
– Monthly: Keiretsu Forum events
27MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, July 16th, 2008
MIT Angels – Next Steps
• Expand the team
• Secure a regular meeting place– Member meetings for MIT Angels / investors
– Pitch meetings
• Strengthen relationships with other Angel Groups– Band of Angels
– The Angels’ Forum
– Sandhill Angels
– Harvard Angels
• Create ties with Industry Associations– National Venture Capital Association etc
28MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, July 16th, 2008
Specific Roles within the MIT Angels Team
• Member Outreach Committee
– Reach out to potential Angels – MIT entrepreneurs, investors, and other professionals
• Deal Sourcing Committee – leverage synergies across MITCNC– MIT Venture Mentoring Service
– Interest groups (cleantech, semi-conductor, technology, bio-tech, etc)
– Reach out to MIT Entrepreneurs / professionals
• Deal Screening Committee
– Meet quarterly to select presenting committees at the quarterly Pitch meeting
• Entrepreneur Advocate Committee
• Sponsorship Team
29MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, July 16th, 2008
MIT Angels – Upcoming Events
Upcoming Events
Aug 26th Deal Screening Meeting – Only Deal Committee to review proposals
Sep 23rd Quarterly Pitch Meeting
Nov 11th Deal Screening Meeting – Only Deal Committee to review proposals
Dec 9th Quarterly Pitch Meeting
• Investor-Only Events
– Targeting potential Angels – focus on investor educations and sharing of best practices
• Quarterly Pitch Events
– Deal Screening Meetings
– Pitch Meetings
30MITCNC BOD Meeting, July 28th, 2009
Emerging Technologies Council
Knowing is not enough; we must apply.- Leonardo da Vinci
David Lackner G‘99
31MITCNC BOD Meeting, July 28th, 2009
Overview: What is ETC?
• Like-minded group of R&D professionals drawn from multiple disciplines who are searching for, creating, developing, and harnessing next-generation technologies
• Common bonds
– At the cutting edge of technology in their field
– Innovative development & commercialization paths required
• Focus on hardware and “engineered” technology
• ETC is NOT about incremental technologies nor those that are close to commercialization
32MITCNC BOD Meeting, July 28th, 2009
Purpose: What are ETC’s goals?
• To create a physical and virtual space for R&D professionals to exchange ideas about emerging technologies
• Reinvigorate the world of engineered things
• Introduce and explore new theory and practices in interdisciplinary design and product development
• Explore new tools that allow “responsive creativity” like rapid prototyping
• Expand on the renaissance of makers and open source developers
33MITCNC BOD Meeting, July 28th, 2009
Inaugural Event
• Purpose: “pre-EmTech” for those who are attending the MIT EmTech Conference
• Invited speaker:Bill Reinert, National Manager, Advanced Technology Group, Toyota Motor Sales USA
• Where: TBD
• When: Week of Sept 14th, 2009; Prior to MIT EmTech 09 (Sept 22nd – 24th)
34MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, Feb 17th, 2009
Career Development
Mike Bowles ScD ‘80
35MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, Feb 17th, 2009
Career Development Activities
• Scheduling 1st Three Outside Speakers
– Career coaching
– Using social networking as career development tool
– Considering consulting?
• Developing Career Development Team Infrastructure
– Bring Web Page up to Date
– Established Wiki for Team Use and Institutional Memory
– Setup Team Communication and Scheduling Processes
36MITCNC BOD Meeting, July 28th, 2009
Sloan Club
Eric Silverberg, Bob Meese, Ajit Dansingani, Abhinav Khushraj MIT Sloan ‘08
37MITCNC BOD Meeting, July 28th, 2009
Recent Events
• April 9th happy hour with Kellogg
– After-work event at Orson in SF
– Organized by Bob Meese and Kellogg
– Gathered about 20 Kellogg alums, 20-25 Sloan Alums
• May 20th happy hour for new admits
– After-work event at Bacar in SF
– Organized by Eric Silverberg & Bob Meese
– Gathered 10-15 new admits/guests, 15-20 alums
• June 18th cocktail hour with Stanford & Princeton
– After-work event at Melt in Palo Alto
– Organized by Elizabeth Yin
– Gathered >100 total participants, >20 MIT/MIT Sloan alums
38MITCNC BOD Meeting, July 28th, 2009
Recent Event: MIT Sloan Volunteers in the Marin Headlands
July 18th, 2009
Planting flowers for the Golden Gate Conservatory
39MITCNC BOD Meeting, July 28th, 2009
Upcoming Events
• MIT Sloan Summer Gathering, August 12th – Featuring Professor Richard Locke
– Hosted annually by Richard & Susan Owen
– Organized by MIT Alumni Association
– The largest Sloan gathering of the year!
• North Bay Gathering– Organized by Herb Meyers, Albert Richards
– Venue, date still be decided
– Alumni association has offered to let us use their mailing list for a date/venue survey
40MITCNC BOD Meeting, July 28th, 2009
Clean Tech Entrepreneurship
Eileen Tanghal ‘97
41MITCNC BOD Meeting, July 28th, 2009
Cleantech Entrepreneurship
• Established in 2009 in partnership with Semiconductor Entrepreneurship program
– Leverage Semiconductor infrastructure and volunteers
– Topics at the intersection of business and technology
– http://www.mitcnc.org/Clean_Technology_Series.htmm
• Steering Committee
– Director: Eileen M. Tanghal ’97
– 3-5 dedicated volunteers, looking to expand
– Advisory board of distinguished colleagues
• 2009-2010 Sponsors
– Cooley Godward Kronish (in-kind: venue and catering)
– Applied Ventures (in-kind: venue and catering for one event)
42MITCNC BOD Meeting, July 28th, 2009
Cleantech Entrepreneurship2009 Events
• May 2009: Accelerating Energy Management Rollout panel Panelists included
– Matthew Denesuk, Partner, Venture Capital Group, IBM
– Matt Smith, VP Marketing, Greenbox Technologies
– Peter Sharer, CEO, Agilewaves
– Linda Hanson, Echelon, VP Corporate Marketing
– Sumeet Jain, Senior Partner, CMEA Capital
– Bill Shetti, Managing Director Storm Ventures and Board Member Demi Energy
• July 2009: Summer Mixer featuring Eleanor, the MIT Solar Electric Vehicle
• September 2009: Light it UP (next generation lighting technology)
43MITCNC BOD Meeting, July 28th, 2009
Summer Mixer…featuring Eleanor the MIT Solar Car
June 16th at Cooley Godward Kronish in Palo Alto
Roughly 80 alumni and friends attended, with Eleanor proving a big hit
44MITCNC BOD Meeting, July 28th, 2009
• Strong Beginning
– A good re-start of the series
– Have managed to recruit some top speakers
– Good attendance by MIT alumni
• Challenges Ahead
– Director bandwidth
– Consistent participation by volunteers
– Sponsorships: reduction in available sponsorship money due to economic downturn
Cleantech Entrepreneurship
45
Evolving Alumni Base Demographics
46MITCNC BOD Meeting, July 28th, 2009
10,679
1,879
774
0
2,000
4,000
6,000
8,000
10,000
12,000
1980 1985 1990 1995 2000 2005 2010
3,764
Our Alumni Base has grown significantly over the past ten years
47MITCNC BOD Meeting, July 28th, 2009
1% 2%
14%
19%
30%
37%
21%
27%
38%
14%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2009
20%
1984
4%9%
3%8%
22%
1999
10%
5%
26%
28%
1989
14%
4%
15%
29% 1950’s
1980’s
1990’s
1970’s
2000’s
1930’s
1960’s
1940’s
40 40 45 48 Average age36 36 4442 Median age
1989:
32% had graduated at last two decades earlier
2009:
52% graduated at last two decades
ago
Young Alums constitute a smaller portion of our base than they did 20 years ago
48MITCNC BOD Meeting, July 28th, 2009
7782
8592
2318
158
0
20
40
60
80
100
1980 1985 1990 1995 2000 2005 2010
Female
Male
The percentage of women have increased
49MITCNC BOD Meeting, July 28th, 2009
626468
383632
0
20
40
60
80
100
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Grad
Undergrad
Graduate alums represent a gradually increasing proportion of our base
50MITCNC BOD Meeting, July 28th, 2009
EE still department with greatest representation
Alumni Base by Major
0%
5%
10%
15%
20%
25%
30%
1984 1989 1999 2009
Sloan MBA Physics Life Sciences Math EE Mech Eng Chem E
Per
cen
t o
f A
lum
s
51MITCNC BOD Meeting, July 28th, 2009
Life Sciences has shown greatest relative increase over last two decades
60% 80% 100% 120% 140% 160% 180%
Chemistry
Aero Astro
Chem E
Physics
Math
Material Science
Mech Eng
EE
Sloan MBA
Architecture
Life Sciences
Change in Proportion of Alumni, 2009 relative to 1989
100% = no change from ’89 to ‘09
52MITCNC BOD Meeting, July 28th, 2009
Where are our alums?
53MITCNC BOD Meeting, July 28th, 2009
Thank you Directors, Officers and Volunteers for making MITCNC a great club and resource
for our alums
It has been a rewarding two years serving as Club President!
Thank You!
54
MITCNC Scholarship ProgramFor 2009-10
Wm. Murray ’67
Program Manager
Board Business
55MITCNC BOD Meeting, July 28th, 2009
• John Bardeen ‘12
Hometown: Napa, CA
• Xiao Chen ‘12 (Robert Swanson ‘69 Memorial Scholarship)
Hometown: Oakland, CA
• Dhruv Garg ‘12 (Gaynor Langsdorf ’32G Memorial Scholarship)
Hometown: Cupertino, CA
• Susana Hak ‘12 (MITCNC Alumna Scholar)
Hometown: San Leandro, CA
• James Silva ‘12 (Janet Grosser ’53 Memorial Scholarship)
Hometown: San Jose, CA
• Andrew Sutherland ‘12 (Judy and Phil Friend ‘58 Memorial Scholarship)
Hometown: Albany, CA
2008-09 MITCNC Scholars
56MITCNC BOD Meeting, July 28th, 2009
Daniel Hastings (Dean for Undergraduate Education) Wrote the MITCNC (7/13/09) asking:
“The combination of constrained finances… demand that ……we use our scholarship resources as efficiently as possible. It is vital that we exhaust income from endowed scholarships before tapping into general Institute funds. With this in mind, I am asking the Club to allow MIT to award the full amount of endowment income for the MITCNC Scholarship, rather than returning a portion to principal.”
Scholarship Funding for 2009-10
57MITCNC BOD Meeting, July 28th, 2009
• $48,090 Available at MIT for Scholarships
• Motion: allow MIT to award six MITCNC scholarships at $8,000 each
Endowment Income from 2008-09
58MITCNC BOD Meeting, July 28th, 2009
• To Keep the MITCNC Endowment at MIT growing
• Motion: Transfer $10,000 from MITCNC to the MITCNC Endowment at MIT
Proposed Addition to MITCNC Endowment