http://www.houstonchronicle.com/sports/longhorns/article/Patterson-envisions-fully-endowed-system-for-UT-5486692.php?cmpid=twitter-premium&t=d73a3a0635cba496f0
......What he chose to do instead was start an endowed athletic scholarship in his son's name. Once fully funded, that endowment will ensure UT has a steady source of income to cover tuition, books, room and board for one student-athlete on its men's swimming team.
And if athletic director Steve Patterson gets his wish, the Longhorns will secure enough endowments to cover each of their 260.2 athletic scholarships.
But they aren't even close. Although UT's athletic department generates more revenue - $165.7 million last year - than any program in the country and contributes millions of dollars per year to the university, its endowments aren't as robust.
According to figures provided by the Longhorn Foundation, the athletic department's fundraising arm, UT's endowments are valued at $17 million, with about $9 million more in pledges. To endow all of its athletic scholarships, UT estimates it needs almost $200 million.
Nationally, the Longhorns are well behind Stanford, which with more than $450 million has its entire program endowed. They also trail Texas A&M ($70 million) and fellow Big 12 members West Virginia ($31 million) and Oklahoma ($30 million)......
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"Historically, we've not been focused on endowments," Onion said. "We've been focused on facilities. I think the University of Texas is one of the few schools that can do both."
......What he chose to do instead was start an endowed athletic scholarship in his son's name. Once fully funded, that endowment will ensure UT has a steady source of income to cover tuition, books, room and board for one student-athlete on its men's swimming team.
And if athletic director Steve Patterson gets his wish, the Longhorns will secure enough endowments to cover each of their 260.2 athletic scholarships.
But they aren't even close. Although UT's athletic department generates more revenue - $165.7 million last year - than any program in the country and contributes millions of dollars per year to the university, its endowments aren't as robust.
According to figures provided by the Longhorn Foundation, the athletic department's fundraising arm, UT's endowments are valued at $17 million, with about $9 million more in pledges. To endow all of its athletic scholarships, UT estimates it needs almost $200 million.
Nationally, the Longhorns are well behind Stanford, which with more than $450 million has its entire program endowed. They also trail Texas A&M ($70 million) and fellow Big 12 members West Virginia ($31 million) and Oklahoma ($30 million)......
* * * *
"Historically, we've not been focused on endowments," Onion said. "We've been focused on facilities. I think the University of Texas is one of the few schools that can do both."
