Agenda Item No.
AGENDA ITEM BRIEFING
Submitted by:Steven H. Tallant,President
Texas A&M University-Kingsville
Subject:Authorization to EstablishThree Quasi-Endowments
Proposed Board Action:
Authorize the President of Texas A&M University-Kingsville (TexasA&M-Kingsville) to establish three quasi-endowments in the System Endowment Fund entitled as follows:
- ‘Arrington Match – Becky & Maurice Schmidt Conner Museum Quasi-Endowment’
- ‘Arrington Match – Julie & Balous Miller Dream Scholarship Quasi-Endowment’
- ‘Arrington Match – Flores-Feist Chemistry Student Travel Quasi-Endowment’
Background Information:
See attached documentation.
A&M System Funding or Other Financial Implications:
See attached documentation.
Agenda Item No.
TEXAS A&M UNIVERSITY-KINGSVILLE
Office of the President
September 27, 2016
Members, Board of Regents
The TexasA&MUniversity System
Subject:Authorization to Establish Three Quasi-Endowments
I recommend adoption of the following minute order:
“The Board of Regents of The Texas A&M University System authorizes the president of Texas A&M University-Kingsville to establishthreequasi-endowmentsentitledas follows. Background information and funding implications for each of these quasi-endowments are detailed on the attached documentation.
- ‘Arrington Match – Becky & Maurice Schmidt Conner Museum Quasi-Endowment’
- ‘Arrington Match – Julie & Balous Miller Dream Scholarship Quasi-Endowment’
- ‘Arrington Match – Flores-Feist Chemistry Student Travel Quasi-Endowment.’ ”
Respectfully submitted,
Steven H. Tallant
President
Approval Recommended:Approved for Legal Sufficiency:
John Sharp Ray Bonilla
ChancellorGeneral Counsel
Billy Hamilton
Deputy Chancellor and
Chief Financial Officer
Maria L. Robinson
Chief Investment Officer and Treasurer
‘Arrington Match –Becky & Maurice Schmidt Conner Museum Quasi-Endowment’
Background Information:
This quasi-endowment will match $25,000 Becky & Maurice Schmidt pledged to the Texas A&M University-Kingsville Foundation, Inc. to establish the “Becky & Maurice Schmidt Conner Museum Endowment.” Contributions to this fund will be made through gifts of stock by Becky & Maurice Schmidt.
Distributions from this endowment will be used to support operations, programming, and research at the Conner Museum. By recommendation of the Museum Director, with approval from the Dean of the College of Arts & Sciences, the distributions will be used for exhibit curation, collection, restoration, building maintenance, and capital projects.
A&M System Funding or Other Funding Implications:
The $25,000 match will be funded from the Estate of Nadine Arrington.
Together, these two endowments will form a corpus of $50,000; the proceeds will provide an annual distribution to be used to support operations, programming, and research at the Conner Museum.
‘Arrington Match – Julie & Balous Miller Dream Scholarship Quasi-Endowment’
Background Information:
This quasi-endowment will match the $100,000Julie & Balous Miller pledged to the Texas A&M University-Kingsville Foundation, Inc. to establish the “Julie & Balous Miller Dream Scholarship Endowment.” Contributions to this fund will be made through gifts of cash by donors Julie & Balous Miller.
Distributions from this endowment will be used to provide two or more scholarships to full-time students in good standing pursuing a degree at the university. Additional selection criteria include first-generation college students, children who have a parent or guardian who is an immigrant to the United States, students who are fluent in both Spanish and English, and have a financial need [financial need is defined as the parents’ expected family contribution (EFC) after having applied for financial aid, being less than enough to cover the cost of attendance, and the difference is at least the value of the scholarship].
A&M System Funding or Other Funding Implications:
The $100,000 match will be funded from the Estate of Nadine Arrington.
Together, these two endowments will form a corpus of $200,000; the proceeds will provide two or more scholarships to full-time students in good standing pursuing a degree at the university.
‘Arrington Match – Flores-Feist Chemistry Student Travel Quasi-Endowment’
Background Information:
This quasi-endowment will match the $25,000 pledged byDr. Maria Celia Flores-Feist and Mr. John C. Feist to the Texas A&M University-Kingsville Foundation, Inc. to establish the “Flores-Feist Chemistry Student Travel Endowment.” Contributions to this fund will be made through gifts of cash from Dr. Maria Celia Flores-Feist and Mr. John C. Feist.
Distributions from this endowment will be used to benefit undergraduate chemistry students to encourage their attendance at regional and/or national conferences in order to enhance academic and personal growth opportunities. Funds from this endowment may be awarded to students annually when accompanied by a Chemistry Department Faculty member to defray expenses incurred while traveling to/from and attending professional conferences focused on chemistry. These funds may only be used for air transportation, lodging, and/or meals.
A&M System Funding or Other Financial Implications:
The $25,000 match will be funded from the Estate of Nadine Arrington.
Together these two endowments will form a corpus of $50,000; the proceeds will benefit undergraduate chemistry students and encourage their attendance at regional and/or national conferences in order to enhance academic and personal growth opportunities.
Page 1 of 2