An endowment is a permanent, named fund at The University in which the principal is invested and only a percentage of the earned income is distributed each year. Endowments help secure a bright future for the UTEP Athletics Department by providing annual scholarship support generated from the interest earned from the principal gift. This support continues in perpetuity and provides an annual baseline of support for UTEP Athletics.
All gifts for permanent or endowed funds received by The University of Texas at El Paso are formally reviewed and accepted by the Board of Regents of the University of Texas System. Upon acceptance of an endowed gift, a permanent endowment fund is established by the Board to be administered by the U.T. System Office of Development and Gift Planning Services. That office now administers over $4 billion in endowed funds on behalf of UTEP and the other components of the U.T. System.
Endowment funds are invested in the Long Term Fund and managed by UTIMCO, the investment management arm of the U.T. System. Distributions from each endowment are made quarterly to the component named as beneficiary for use as directed by the donor at the time of the acceptance of the gift. By system-wide policy, the Long Term Fund is invested with the objective of total return. A portion of the return is retained in the principal of the individual fund to offset the effects of inflation and permit some growth in the fund.
The minimum amount required to establish any endowed fund is $10,000. A donor may create an endowment with an initial donation of 20% of the donor's total proposed funding and a pledge for the payment of the balance within five years. All funds that would otherwise be distributable from the endowment will be reinvested as a permanent addition to principal until the endowment is funded with the above mentioned minimum required funding.
Endowed scholarships provide students with funding for tuition, fees and other costs related to academics. An endowed scholarship can be established for a minimum of $25,000 (payable over 5 years), which would generate an annual award of approximately $1,125. Scholarships may be designated to the Miner Athletic Club student-athlete scholarship fund, a particular team or position, or be tied to other considerations.
Endowed student enhancement funds support student academic costs beyond tuition and fees, such as travel to out-of-town competitions or performances, purchase of essential supplies for special projects, or stipends for conferences, and award receptions.
Funding levels for various student assistance endowments are as follows:
General Program Assistance
The Miner Athletic Club is involved in many programs that provide hands-on educational experiences for students while benefiting the community. A minimum endowment of $10,000 could provide discretionary funds to support many worthwhile programs.