UT Arlington reports record year in philanthropic support
ARLINGTON - The University of Texas at Arlington has set new records in annual philanthropic support, a reflection of the University’s renewed focus on private giving as a means of accelerating its progress toward becoming a major national research university. The University generated an unprecedented $15.2 million in gifts and pledges in the 2009-2010 fiscal year ending Aug. 31, up from $5.9 million the previous year.
The record year includes numerous milestones in the University’s maturing development program, including the largest cash gift in the University’s history. The $5 million gift from Houston-based Carrizo Oil & Gas Inc. of Houston will support College Park Center, which is currently under construction.
UT Arlington President James D. Spaniolo credited alumni, individual and corporate donors for strengthening the University’s philanthropy portfolio.
“Great universities, and great state universities more than ever, depend on the support of generous alumni and friends to enhance their academic and research profiles,” Spaniolo said. “UT Arlington’s star is rising in direct relation to increasing private support from our partners.”
The University’s total endowment now stands at more than $68 million, having recovered value lost during the 2008 market downturn and having been augmented with significant, new contributions.
A unique aspect of UT Arlington’s philanthropy program is The Maverick Match, which is designed to match new endowments with royalties generated by the University’s natural gas royalties. The program leverages, dollar-for-dollar, gifts of $25,000 or more paid out over five years.
“A strong endowment undergirds strong academic programs and provides long-term financial stability for universities,” said Jim Lewis, vice president for development. “These endowed gifts are building momentum and provide that margin of excellence.”
Lewis added that the FY 2010 results place UT Arlington in a solid position to begin planning for a major fundraising campaign. He credits the 43-member Development Board chaired by Ralph Hawkins, chief executive officer of HKS Inc., with playing a major role in helping the University gain traction in its philanthropy efforts.
Other highlights include:
The University of Texas at Arlington is a comprehensive research university in the heart of North Texas with nearly 33,000 undergraduate and graduate students. Visit www.uta.edu to learn more.