The SMIF Program at Fresno State was officially launched in early 1999 with an allocation of $100,000 from the California State University, Fresno Foundation to start Craig Equity Fund. In October, 2010, the Foundation allocated $1 million to set up Fresno State Fund, with a mandate to invest in domestic large-cap core stocks with no clear growth or value predominance. Another $1 million was added to Fresno State Fund in January 2014. In May 2018, a gift of $100,000 from Mr. Steven Heinrichs, coupled with the assets in Craig Equity Fund, established another equity fund with an AUM of $570,00. In December 2024, Mrs. Dorothy Heinrichs made another generous and transformative gift of $100,941.70. To honor the Heinrichs, the new equity fund was then rebranded as Heinrichs Fund, with a new mandate to invest in domestic large-cap stocks, supplemented with a tactical covered call-writing strategy. The objective of the SMIF Program is to provide a unique setting for the application of financial concepts that will result in an educational “return” as well as a monetary return.