The Foundation will make a record $77.9 million
available to Texas A&M University this year.
The Texas A&M Foundation announced that it will make a record $77.9 million available to Texas A&M University as a result of donations by former students and other supporters during the past fiscal year. The funds are a combination of this year’s gifts intended for immediate use as well as endowment earnings from gifts of previous years.
“This is an exciting time in the history of Texas A&M University, and our year-end results are a reflection of that,” said Van Taylor, chairman of the Foundation Board of Trustees and a 1971 graduate of A&M. “It proves that people want to support talented students, bright faculty and groundbreaking research that will create meaningful change in our society. Texas A&M has all of that, along with something we call Aggie spirit. Our donors understand that it’s well worth their investment.”
Most donors to the Foundation designate how their gifts will be used; many contributions support scholarships while others fund faculty, college discretionary funds, student activities, construction and other projects.
By focusing on endowments, the Foundation maximizes growth through asset allocation of the gift principal. Its long-term investment strategy is designed to ease the effects of severe marketplace changes to provide steady endowment payout over multiple years and to preserve the original gifts.
The Foundation recorded $87.1 million in contributions during the past year. Many of these contributions are endowed funds that will support Texas A&M forever.
Foundation President Ed Davis attributes this year’s success to “a general uptick in philanthropic giving across the country buoyed by record valuations in the financial markets.” Several capital projects on campus also played a role, including the new Engineering Education Complex and the renovation of Francis Hall for the Department of Construction Science. “Once again, our year-end results exceed expectations,” said Davis, a 21-year veteran of the Foundation and a 1967 graduate of the university. “We are grateful for the loyalty and generosity of our former students and corporate partners. Their gifts are essential to advancing Texas A&M’s educational mission, and they ensure that we maintain academic excellence while respecting our great history and traditions.”
The Foundation achieved an investment return of almost 17 percent on its endowed funds as of the end of its fiscal year, June 30. Total assets, which include land and other non-cash assets, increased 14.8 percent to $1.7 billion.
The Texas A&M Foundation is a nonprofit corporation established in 1953 to encourage, receive and manage gifts in support of educational excellence at Texas A&M University.
For additional information, contact Monika Blackwell at mblackwell@txamfoundation.com or (979) 845-7468.
