rilDevelopment
pjfoundations’
assets grow
ise einj
id soiij
^ay toj
TeleJ
ted
1.1,
By MARLA RAGLAND
Mr. and Mrs. Jefferson C. Dykes
r 1111 ttrf Maryland wanted to give a gift to
4 st I Texas A&M University, so in 1975
they gave their business, the Jeff
Dykes Western Book Co., to the
University Development Founda-
Tm.
t | u f The Dykes have continued to be
involved in the operaton of the
business, although the development
foundation is the owner. The busi
ness is in a trust, and it will continue
to provide an income for the Dykes
and their daughter until their
deaths. The income and the trust
will then be dedicated to the Texas
A&M University Library and the
development foundation.
“We are concerned with signifi
cant capital gifts that people make to
the University,” said Robert L.
ypfAValker, vice president for de-
’ U Velopment. "Most of these gifts are
rniade from an individual or a com-
j-yn pany’s accumulated assets which
£5" would include cash, personal prop
erty or real estate.”
hid® Assets such as a residence, farm
udentsM ranch may be given while the
<M l .jdonor retains a life residence. Other
halfdSsets may be given outright or in a
Drive trust while donors retain the in
come.
I “Much of our work is directed to-
h.od cfljjard showing people how they can
l.OOOMnserve the maximum amount of
whk'Sjeir estate, make significant gifts to
the University and thus avoid pay
ing taxes that they would otherwise
mve to pay,” Walker said,
its oM The development foundation had
t mi Jassets of more than $12 million at
the end of 1977. Assets are invested
-w&W 11 an en dowment, and the interest
iarned from this money is used to
! provide student financial support
such as scholarships, grants and
Joans, faculty support and funding
for special University projects.
| According to the foundation char
ter, the only limitation on spending
the money is that is be for the bene
fit of Texas A&M.
B 'Our objective is to accumulate
jr^lSIOO million in the foundation,” said
ping Walker. “We hope to have this
ount by 1985. We would like to
build a significant foundation that
(bin provide the University with
^monies throughout its future.”
^ Last year money earned from as-
f Bts of almost $4.5 million was used
AATTW'fb finance student scholarships in-
JACKS^cluding 115 President’s Endowed
Jjftholarships. About $3.6 million has
been invested, with the income
being used for other needs of the
University such as research and in
structor awards.
m ,«Assets of about $4.1 million are
!n |*I®restricted. They may be used for
1 the University at the discretion of
foundation trustees.
The development foundation was
chartered in 1953 by interested
former students. The board of trus
tees of the foundation was appointed
by the Board of Directors of the As-
^jgpbciation of Former Students.
The fund remained relatively in-
tive and had assets of only
86,000 in 1972. In 1973, former
esident Jack K. Williams asked
alker to become director of the
velopment foundation.
‘Dr. Williams thought the foun-
fion could be an asset to the uni-
Brsity,” Walker said. “So the trus-
:ees did some planning and got
|isy. One trustee gave $25,000 as
crating money to get the founda-
|on going. Another trustee
ovided the services of a Houston
counting firm to re-evaluate the
okkeeping procedures of the
foundation. We’ve come a long way
the last five years, increasing the
sets to over $12 million. ”
ig awards
resented
Tom Paterson was a double win-
|r Monday night when he was
Varded the Eva Simmons Potts
ijemorial Scholarship in Agricul-
fe and was also named outstand-
junior during the Texas A&M
liversity Student Agricultural
pnvocation ceremonies.
jThe evening was highlighted by
Jp awards honoring students
ptroughout agriculture for charac-
integrity, leadership ability and
ademic excellence among the
students enrolled in the Texas
tM College of Agriculture.
[Recipients of the Senior Merit
vard included Karen Hoermann of
bfiigio, Kenneth Kuhr of College
tation, Alvin Luedke of Sinton,
jichaei Macmanus of Harlingen,
[ren Moore of Leesburg, Sandra
ew of Bay City, Vikki Owen of
|yan, Van steed of Groom, Gary
ence of Rockdale and Lisa Swan-
In of Breckenridge.
‘Dr. Jams E. Miller, president ot
exas A&M, and Larry Meyers,
airman of the scholarship commit-
|e, presented senior awards.
" Named as outstanding sophomore
aring the convocation ceremonies
: Cynthia Homstein. Robert Van
pinkie was selected outstanding
eshman. In a special presentation,
lr. Vernon E. Schneider was given
|e outstanding professor award by
|ean of Agriculture Dr. H. O.
lunkel.
The evening also included pres-
1 tation of a special appreciation
llaque to the general manager of
fie Houston Livestock Show for its
upport over the years. ,
buefo
nab«t'
Timi
THE BATTALION
WEDNESDAY, APRILS, 1978
)
fi —
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Welch’s Frozen Grape Juice
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.75
Convertible
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e >■ rfeO
Beef Chuck
Boneless' (GOOD
Shoulder
Roast
USDA Good
Page 5
■ 1 ! I 111 |
Texsun
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46 oz.
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Serving
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Fresh Fryer Breasts
Ribs Attached
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