The organization that manages $235 million for the university created a position to oversee that money's investment.
Thomas Heck, the vice president for operations and treasurer, will be the Ball State University Foundation's first chief investment officer.
Heck said as a part of his new position, he would oversee the daily management of the foundation's investment portfolio. He also will coordinate the 50 employees involved in the foundation's investment process, he said.
"I play an important role in a very good team," he said.
Heck has been a part of the foundation for 20 years, and his main responsibility was to oversee the financial statement reporting, he said.
He came to Ball State in May 1988 as the foundation's first controller, helped with the foundation's first independent audit and internalized the financial systems and operations, he said.
He said he acquired the overseeing aspect of his original job through the years. He saw the foundation's evolution and his position grow through the years, he said.
"It was a simpler job back then," he said. "It's gotten to the point where we had to dedicate a position to oversee the investment process."
The foundation's total assets are $235 million, as opposed to the $30 million in foundation assets in 1988, he said.
Now that Heck is in a position dedicated to overseeing the foundation's investments, it will give him more time to work on risk management and work with financial managers, he said.
"We will be able to spend more time to upgrade those activities," he said.
In 2007, the Chartered Financial Analyst Institute Board gave him the title of charter financial analyst, he said. The designation provided him with more background on investment such as equity evaluation techniques, portfolio construction and ethics and standards, he said.
The Charter Financial Analyst Institute Board is a global investment program that has recognized 80,000 people.
In 2007, the Foundation Endowments and Money Managements recognized the Ball State University Foundation as the small non-profit of the year, he said.
Tony Schneider, chairman of the foundation's board of directors, was called Monday evening and could not be reached for comment.
David Bahlmann, president of the foundation, was called Monday afternoon and evening and could not be reached for comment.
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