Texas Tech Surpasses $100 Million Mark for Third Straight Year

By Robert D. Waller for Texas Tech University System | October 5, 2009

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Private donors gave nearly $113 million to Texas Tech during the past year, marking the third year in a row that the Texas Tech University System has brought in over $100 million.

Donations received during the 2008–2009 fiscal year make this the fourth-highest fundraising year in the system’s history. The top fundraising year came in 2007 during Kent Hance’s first year as chancellor.

Hance, who remains focused on fundraising, has not failed to reach the $100 million mark in his time at Texas Tech.

“One of the most critical factors for Texas Tech to reach our goal of becoming the next Tier One university is our annual fundraising efforts,” said Hance. “These resources help us attract the best and brightest students and faculty and provide us the ability to grow our facilities for researching and teaching.

“[Vice Chancellor for Institutional Advancement] Kelly Overley and her team have consistently performed above expectations, and this year was a true test given the current economic climate.”

Major gifts to name the Edward E. Whitacre Jr. College of Engineering and expand Jones AT&T Stadium helped continue the system’s fundraising pace in spite of volatile economic conditions. Donations impacted each of the system’s three institutions, netting funds for student scholarships, faculty endowments and facilities at Texas Tech University, Texas Tech University Health Sciences Center and Angelo State University.

The Texas Research Incentive Program (TRIP) also aided fundraising efforts by providing state funds to match private gifts designated for research. Texas Tech University received $24.3 million in TRIP-eligible donations before the end of the fiscal year.

“Texas Tech is fortunate to have good and generous friends,” said Overley. “In these difficult economic times, Chancellor Hance and our entire development team have worked hard to raise the funds that are vital to the university’s future.”