About “Doc” Cloud
The Gary L. Cloud MSU Formula Racing Team Endowment is named for Gary Cloud in honor of his tireless dedication and outstanding service to the Formula SAE Team at Michigan State University.
Gary Cloud received his Ph.D. from the College of Engineering, and has been a member of the College’s faculty since the late 1960’s. He has acted as faculty advisor for the MSU Formula SAE Team since 1995. Dr. Cloud is a devoted teacher, father figure, and friend to hundreds of team participants and alumni.
The Gary L. Cloud MSU Formula Racing Team Endowment
Extracurricular activities like Formula SAE strengthen students’ intellectual skills and develop their capacity for a lifetime of meaningful work in a fast-changing world. Unfortunately, programs like Formula SAE operate with shoestring budgets and are often most vulnerable to cuts during tight economic times. Established in 2005, the Gary L. Cloud MSU Formula Racing Team Endowment was created to provide a steady stream of income to be used where the team needs it most. In one year, for instance, funds might be used to purchase equipment, materials, or parts. In another year, funds might be used to send team members to the Formula SAE Competition. Further, this fund could be used to support research and development projects that allow MSU Formula SAE to evolve as technology advances. The advantage of this Endowment is that it offers flexible and dependable funding for the team’s fluctuating needs.
The Gary L. Cloud MSU Formula Racing Team Endowment is an endowed fund, thus offering a permanent source of financial support that will benefit students participating in the Formula SAE program at Michigan State University. With endowments, the total amount of the gift is invested, and only a percentage of the interest income earned is spent annually. The remaining interest income that is earned reverts to the principal account in order to build the fund over time and safeguard against inflation. In this respect, an endowment is a perpetual gift.