Family Philanthropy: Giving Back with the Cashes

By Gary Vaughn for Texas Tech University | December 18, 2007

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"There are two kinds of people who have money; those who inherit it and those who save it," said Don Cash. "For the twenty-three years I was a saver and not a spender, and I've taught our son to be a saver, too."

The Cashes are generous people who love Texas Tech. They have established several endowments in the last five years.

“We give because we can and it’s the right thing to do,” said Don. “I got a great degree at Texas Tech and it helped me make a lot of money.”

Now retired, Don and his wife Kay have discussed the family’s finances with their son Clay who agrees with his parents’ philosophy on giving.

“If you give a young person a lot of money at once, they tend to lose their work ethic,” said Don. “That’s not good. There are plenty of young people seeking an education who can benefit from a scholarship; and that’s good.”

“Texas Tech is our favorite place to give because it gave Kay, Clay and me the opportunities for successful careers,” added Don.

Choosing what to support came from necessity.

Kay’s mother and Don’s father both suffered from forms of dementia in the final stages of their lives and it was heart wrenching for everyone around them.

“Dementia is a mind thief,” said Kay. “It is our hope that by funding this kind of research, it can provide answers for early diagnosis, prevention and a cure.”

“By supporting the reading literacy program and a program for early detection and prevention of dementia and Alzheimer’s,” said Don. “We are reaching both ends of the spectrum, the young and the old.”

Watching his grandparents suffer was difficult for Clay, who said his wife, Ashley, also lost a grandparent to dementia.

“I do not want my mom and dad or anyone’s mom and dad to forget who they are because of Alzheimer’s. That’s what this disease does, it steals one’s being,” said Clay.

Don and Kay are confident that their gifts to the Texas Tech Foundation are a wise investment.

“Texas Tech manages money well,” added Don. “They’re one of the top foundations in the Big 12. If you’re not sure how to manage your money, let Tech manage it for you.”

“We love Tech and we love to give back,” said Kay. “It feels good and giving gets in your blood.”

The Cash family has established several endowments at Texas Tech. In July, they created one in honor of their college friend and Tech employee Marcie Beasley, who has suddenly found herself battling debilitating brain tumors and painful treatments. Marcie passed away on October 30, 2007.

“Marcie was such an asset to Texas Tech,” said Kay. “And we just wanted to show our appreciation for her and her work. Again, it was the right thing to do.”

Don and Kay Cash and their son Clay are all graduates of Texas Tech University.

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