Q. Why does the University need my money when it's a state-supported institution?
The University has moved from being state-supported to state-assisted. In recent years, state-appropriated dollars support approximately 50 percent of UT Permian Basin's total expenditures. This means that instructional and faculty initiatives, as well as many student programs must be supplemented through private donations. Scholarships and athletics receive no state funding.
Q. Can I create a scholarship at UT Permian Basin?
Student scholarships are a priority at the University. There are two types of scholarship gifts:
1. Annual named scholarships are given and used on a yearly basis. Often those donors who create an annual named scholarship do so with the intent of supporting it for several years or perhaps indefinitely. An annual scholarship can be established for a minimum of $1,000.
2. Endowed scholarships are perpetual. The gift, which forms the corpus or body of the endowment, is deposited into an account managed by the University of Texas Investment Management Company (UTIMCO). Endowment distributions provide annual scholarship awards. The minimum amount required to establish an endowed scholarship is $10,000, which may be made as a single gift or in installments as arranged through the Office of Institutional Advancement.
The University will work with the donor to see that preferences regarding scholarship naming and recipient criteria are honored. To find out more, contact the Development Office at (432) 552-2800.
Q. What other programs can I support with my donation?
Annual, unrestricted gifts provide income to support the University's academic mission in the areas deemed most appropriate by the administration. Designated gifts provide donors the opportunity to support a specific program or academic area. Some of the areas that a donor may choose to support include:
College of Arts and Sciences
College of Business and Engineering
College of Education
John Ben Shepperd Public Leadership Institute
Also, for those who would like to contribute at higher levels, a number of prestigious opportunities exist through the creation of named endowed faculty positions and facilities. Naming opportunities are subject to the approval of the UT System Board of Regents. For more information, contact the Development Office (432) 552-2800.
Q. How do I make a gift to the University?
There is no single way to make a gift to UT Permian Basin. Donations may be made by credit card, cash, check, or pledge. We also offer the donor a number of choices for investing in the University:
- Partners for UT Permian Basin is an annual giving program. This allows alumni and other friends of the University to make a gift of any size every year. Gifts to Partners for UT Permian Basin support the University's current operations.
- Endowment gifts are dedicated to the long-term well being of the University. Unlike gifts to the annual giving program, endowments exist in perpetuity, and only the interest from the corpus is used in support of the designated program or initiative.
- Planned gifts allow a donor to support the University through a variety of tax and estate-planning vehicles. Among the choices are bequests, estate gifts that provide lifetime income to the donor with the remainder of the gift passing to UT Permian Basin, and life insurance or gifts of retirement and pension plans. Contact the Office of Institutional Advancement for more information on creating a planned gift.
- Naming opportunities provide our donors with an opportunity to support the University and receive recognition. Gifts may be made in honor, or in memory, of an individual. The University will acknowledge the gift to the honoree, or to family members of the deceased.
Q. Does the University accept gifts other than cash?
The University may accept in-kind donations of services or goods. Gifts through estates or trusts also are accepted. To find out more about any of these possibilities, contact the Development Office at (432) 552-2800.
Gifts may be made in person, online, or by mail.
Q. Are my gifts to the University tax-deductible?
Gifts to the UT Permian Basin are tax-deductible. For more specific information, contact the Development Office at(432) 552-2800.
Financial investments are only part of the key to helping the University remain a quality institution. We welcome volunteers who can help us stay in touch with our alumni and community friends. If you are interested in donating your time and talents to UT Permian Basin, please contact the Development Office at (432) 552-2800.