L3Harris Endowed Professorship
Type: Professorship / Research Fund
Year: 1999
Purpose
The endowment will be used to fund the two Harris Professorships. (GF000138)Description
The professorship is academically assigned to the College of Engineering.
History
In 1999, the Harris Foundation agreed to donate $2 million to Florida Tech's Endowment Fund with the understanding that this donation will be matched dollar-for-dollar by the Olin Foundation. The donation is also being made with the understanding and, upon the condition, that the 5% generated by the combined $4 million Harris/Olin endowment contribution will be used to fund the two Harris Professorships in perpetuity.
These Harris Professorships were established and have been funded by the Harris donation to Florida Tech through the Florida Tech Trust established by the trust agreement dated the 8th of June, 1984. In the past, the $200,000 in annual support of the Harris Professorships was contributed each March for the following year. The trust has made its last donation for the year beginning March, 1999. It is understood and it is a condition of Harris' current $2 million donation that all future funding of the two Harris Professorships will be solely provided by annual income generated by this current Harris donation and the Olin matching funds.
The Harris gift to the Florida Tech Endowment Fund may be presented and publicized in accordance with the wishes of the President of Florida Tech. It is our intention to provide the University with the opportunity to take the utmost advantage of Harris' gift to support the University ongoing Capital Campaign.
These Harris Professorships were established and have been funded by the Harris donation to Florida Tech through the Florida Tech Trust established by the trust agreement dated the 8th of June, 1984. In the past, the $200,000 in annual support of the Harris Professorships was contributed each March for the following year. The trust has made its last donation for the year beginning March, 1999. It is understood and it is a condition of Harris' current $2 million donation that all future funding of the two Harris Professorships will be solely provided by annual income generated by this current Harris donation and the Olin matching funds.
The Harris gift to the Florida Tech Endowment Fund may be presented and publicized in accordance with the wishes of the President of Florida Tech. It is our intention to provide the University with the opportunity to take the utmost advantage of Harris' gift to support the University ongoing Capital Campaign.
On December 5th, 2007, during the Florida Institute of Technology 50th Anniversary Campaign, L3Harris Corporation gifted a $5 million fund. A portion of the fund was allocated to the construction of the 8,000 sq. ft. L3Harris Institute for Assured Information, found in the south academic quadrangle on campus. The space is located in the L3Harris Center for Science and Engineering Center. The rest of the funds have gone toward the L3Harris Endowed Chair in Assured Information and to support students of Florida Tech. Furthermore, L3Harris continued support of student research projects in the next following years.
L3Harris Corporation is an American technology company based in Melbourne Florida that serves as a defense contractor and provider of technological services in the government, defense, and commercial areas.
