Post by Xpedition on Nov 21, 2005 0:14:36 GMT -5
this article hasn't been posted on here yet: news.fiu.edu/releases/2005/11-17_wertheim.htm
Dr. Herbert and Nicole Wertheim Family Foundation Donates $20 Million to FIU Medical School Effort
The largest cash gift in FIU history becomes $40 million through the state matching program.
MIAMI ( Nov. 17, 2005 ) -- Florida International University trustee and benefactor Dr. Herbert Wertheim, Chairman of the Dr. Herbert A. and Nicole Wertheim Family Foundation, announced today a commitment of $20 million to the FIU School of Medicine. Wertheim’s donation, the largest in FIU history, is eligible to be matched by the state of Florida, making the impact of the gift $40 million, one of the largest to a public university in Florida.
“Dr. Wertheim has a history of supporting FIU that goes back almost 20 years,” said FIU President Modesto A. Maidique. “He cares deeply for this institution and clearly understands that his support for the FIU School of Medicine will have a very high return on investment in terms of the legacy he will leave the South Florida community.”
Half of the $40 million gift will be earmarked for construction and other needs of the facility. The remaining $20 million will be used to establish the Dr. Herbert Wertheim Medical Education Endowment Fund, which will support scholarships, professorships, lectures and residencies.
“The idea of contributing to the education of doctors and other healthcare professionals who will improve people’s lives is important to me and my family. I hope that by making this donation we encourage others to support South Florida’s first public medical school,” said Wertheim. “In time, everyone in South Florida will be touched by the goodness and the wonder of our new medical school and its faculty and graduates in one way or another.”
Wertheim is the chairman and CEO of Miami and London-based Brain Power Inc., which is the world’s largest manufacturer of optical instruments and chemicals. Additionally, he is one of the largest individual shareholders in three of South Florida’s publicly held companies: Heico Corporation, an aerospace and technology company, Ivax, a world-class generic pharmaceutical company, and BFC Financial, the controlling company of Bank Atlantic and other South Florida companies.
Dr. Wertheim is an inventor, optometrist, educator, scientist, clinician, entrepreneur, philanthropist and community leader. He holds numerous patents, trademarks and copyrights in various scientific fields.
During his more than 40 years of eye research, he has made important discoveries in the areas of eye care and visual neural-physiology that have helped dyslexics, albinism, and persons affected with retinitis pigmentosa. His inventions have protected millions from serious eye diseases that include cataracts and macular degeneration.
Dr. Wertheim is one of the first clinicians to expose the extreme dangers that ultraviolet radiation and blue light pose to eyes and eyesight. From his research he invented UV 400 Tint Protection to help stave off eye damage. Today, UV 400 is the world standard in both prescription eyewear and sunglasses.
The Wertheims are residents of Coral Gables but spend part of their time in California where their two daughters, Erica Wertheim Zohar and Vanessa Wertheim Brumer, live with their families. All four Wertheims comprise the Foundation’s board.
Dr. Wertheim has a tradition of supporting FIU that dates back to 1988, when he joined the FIU Foundation Board of Directors, and within a few years became Chairman of the Board. He chaired FIU’s first capital campaign, which raised $204 million in four years, an amount four times the original campaign goal. In the early 90s he spearheaded the planning process for the medical school, and now serves as Chairman of FIU’s Health and Medical Education Initiative.
Over the years, the Wertheims and their Foundation have made many contributions to the university, including some that have had a profound impact on the campus. In 1991, the Wertheims donated to the construction of the Wertheim Conservatory, used by the department of biological sciences to study tropical plants and photosynthesis under controlled conditions. In 1993, Wertheim established a visiting professorship in the College of Business Administration to bring to campus distinguished lecturers and experts in the field of entrepreneurship.
Two years later, the family’s generosity extended to the fledgling performing arts program and, in one of the largest gifts to the university at that time, provided the means to expand facilities and recruit top students. The Herbert and Nicole Wertheim Performing Arts Center is currently a signature building used by students and members of the community alike. The Wertheims also funded the construction of the concert hall’s extraordinary pipe organ, named in memory of Wertheim’s late mother, Sydell Ida Wertheim. The Wertheim gifts have leveraged approximately $18 million in academic support and facilities funding.
“Dr. Wertheim defines the term ‘philanthropic entrepreneur,’” said FIU Vice President for Advancement Howard Lipman. “He’s generous in his giving of time and funds. He makes sure his donations transcend their dollar amounts by acting as catalysts for additional funding and community involvement with the university.”
Wertheim made his first public pledge of support for the medical school project in the summer of 2004, and issued a challenge for other donations. The “Wertheim Challenge” requests that the university raise $20 million to match the $20 million donation by the Wertheim Foundation. These additional funds will enable the university to have $80 million including state match for buildings and other educational needs of the medical school.
“We are working on securing additional significant gifts that will honor the spirit of our lead donors challenge: ‘You start with a dollar and you make more,’” said Maidique. “Many generous people in this community have been inspired by Dr. Wertheim’s leadership and the merits of this project.”
The FIU School of Medicine proposal is under consideration by the Board of Governors, which oversees the State University System. FIU officials made a presentation to the BOG at its Nov. 17 meeting in Jacksonville.
The proposal is a response to a series of factors that point to the need for at least one more medical school in South Florida. Some of those and the benefits associated with them are:
* An expected shortage of as many as 200,000 doctors nationally by the year 2020;
* 8.6 million Floridians living in medically underserved areas; 2.3 million of them in South Florida;
* A need for more opportunities for Floridians to study medicine: Florida ranks 32 in the percentage of residents attending in-state medical schools;
* FIU will attract medical students that reflect South Florida demographics: these culturally competent students will tend to stay in the area;
* The FIU School of Medicine proposal has the support of several local community hospitals including Mt. Sinai, Children’s Hospital, Mercy Hospital and others and will bring additional medical residents to the area;
* The School of Medicine is expected to generate more than 11,000 new jobs, contribute $22 million annually to the local tax base and have an overall impact of at least $800 million a year.
For more information on the FIU School of Medicine proposal visit health.fiu.edu/
