There is nothing more appreciated by a college student than a helping hand along the way. At UT Pan American that support often comes in the form of generous friends who make scholarships a focus of their philanthropy. The UTPA Foundation has always made scholarship fundraising a priority, and this has never been more important.
With diminishing state support for public universities in Texas, more of the burden to support the cost of a college degree is falling to the students and their parents. With most of UT Pan American’s 19,000 students requiring some type of financial aid, the support of the Foundation and its donor partners is essential to help them continue toward their degrees.
Scholarship gifts to the UTPA Foundation can come in one of two ways – as an annual gift that will be awarded in its entirety or as an endowment fund that will provide financial assistance in perpetuity. Both or needed…both are vital…both are very much appreciated by the Foundation Board of Trustees and especially by the students who will benefit from your generosity.
An annual scholarship is typically a short-term commitment by the donor, usually for an academic year. However, donors often renew their support on a recurring annual basis. The minimum funding level for establishing a named scholarship is $1,500. Annual gifts of less than that amount will be added to the Foundation’s general scholarship fund or to an already-established scholarship.
Endowing a scholarship in the UTPA Foundation assures that the scholarship will exist in perpetuity. The initial gift forming the principal, or corpus, of the endowment is deposited with one of the financial institutions the UTPA Foundation’s Trustees have selected to manage the Foundation’s investments. The income generated annually from theendowment is used both to fund the scholarship and to increase the corpus. It is the policy of the Foundation Board of Trustees to distribute 5% of an endowment’s market value, as of June 30 each year, to be used by the University for the stated purpose of the fund. Any income in excess of the payout is returned to the corpus, providing for its growth.
The minimum amount required to establish an endowment in the UTPA Foundation is $10,000. Ideally, the funds are received as a single gift. However, it is possible to set up a pledge payment schedule not to exceed five years. There is a one-year delay in awarding the scholarship. This allows the scholarship fund time to generate interest. Earnings from the investment fund the scholarship award. Additional gifts may be added to the endowment at any time. Likewise, additional current-use gifts may be given at any time to supplement the distribution from the fund and increase the amount of the scholarship in a given year.