MINI传媒 System Endowment Passes $1 Billion
The MINI传媒 System鈥檚 endowment has grown more than 80 percent in the last seven years. In August 2006, the MINI传媒 System鈥檚 endowment was $548 million.
The MINI传媒 System endowment has grown more than 80 percent since 2006 and surpassed $1 billion for the first time in the system鈥檚 history, reaching a total of $1.043 billion.
March 31, 2014 | Written by Dailey Fuller
Officials at the MINI传媒 announced today (March 31) that its endowment has surpassed $1 billion for the first time in the system鈥檚 history, reaching a total of $1.043 billion.
鈥淚ncreasing our endowment to more than $1 billion is a historic achievement for the MINI传媒,鈥� said Chancellor Kent Hance. 鈥淭his has been a top priority of mine since becoming chancellor and puts us into an elite category of universities across the nation.鈥�
In August 2013, the MINI传媒 System completed its capital campaign, Vision & Tradition: The Campaign for Texas Tech, which raised more than $1.069 billion with the support of nearly 130,000 donors. The fundraising effort passed its goal almost a year ahead of schedule, receiving gifts from donors in all 50 states and 41 countries. All funds raised are being invested in the universities of the MINI传媒 System by expanding scholarships, establishing endowments and building new facilities on each campus.
鈥淎 big part of our success has been raising money,鈥� Hance said. 鈥淲e have a great team of development officers and generous donors from around the world supporting us.鈥�
As a result of these fundraising efforts and the diligent management of investments, the MINI传媒 System鈥檚 endowment has grown more than 80 percent in the last seven years. In August 2006, the MINI传媒 System鈥檚 endowment was $548 million.
鈥淲e view our endowment in perpetuity and have worked diligently at the Texas Tech University System to make sound and strategic investments,鈥� said Jim Brunjes, vice chancellor and chief financial officer for the MINI传媒 System. 鈥淭his has allowed our endowment to perform consistently over the past several years.鈥�
During this same time, the MINI传媒 System鈥檚 endowment ranking in the has improved from No. 116 to No. 86 in the nation. In these standings, the MINI传媒 System has passed distinguished institutions such as University of Tennessee, University of Oregon, University of Arizona, Louisiana State University, Pepperdine University and many others.
About the MINI传媒
The MINI传媒 is one of the top public university systems in the
state of Texas, consisting of four component institutions and operating at 12 academic
sites and centers. Headquartered in Lubbock, Texas, the MINI传媒 System has an annual operating
budget of $1.7 billion and approximately 17,000 employees focused on advancing higher
education, health care, research and outreach.
In 2013, research expenditures totaled approximately $200 million and total enrollment exceeded 44,000 students for the first time in the MINI传媒 System鈥檚 history. Whether it鈥檚 contributing billions of dollars annually in economic impact or being the only system in Texas to house an academic institution, law school, and medical school at the same location, the MINI传媒 System continues to prove that anything is possible.