February 2, 2017
The Longhorn Alumni Band Charitable Fund has made a gift to The University of Texas at Austin of just over $83,000 to complete the funding of five scholarships established by the late Vincent R. DiNino, former Director of the Longhorn Band. Mr. DiNino was in the process of funding these scholarships at the time of his passing, and the gift of these funds makes possible his dream of expanding financial support for the students of the Longhorn Band. “This gift is a huge step forward toward our goal of providing financial support to every member of the Longhorn Band” said Director of the Longhorn Band Scott Hanna. “It is also budget relieving, as we have been using operating funds to award these scholarships since Mr. DiNino’s passing."
The Longhorn Alumni Band Charitable Fund (LHABCF) is charged with the stewardship and investments of funds for the purpose of providing scholarship support to students in the Longhorn Band. “The LHABCF Board believes this gift honors the wishes of Mr. DiNino, and is a fulfillment of the board’s charge to support the creation of scholarship funds for current Longhorn Band students,” said Kent Kostka, LHABCF Board President and LHB alum (1985-91).
Mr. DiNino chose The University of Texas Investment Management Company (UTIMCO) as the fund manager for his scholarship investments based on its high historical rate of return, excellent fund management, and outstanding personalized service to investors. Created in March 1996, UTIMCO is the first external investment corporation formed by a public university system. It oversees investments in the Permanent University Fund (PUF) and all other endowed university assets, exceeding $37 billion in holdings.
“We are thankful for the example that Mr. DiNino set for us by entrusting The University of Texas with his scholarship endowments, and grateful for the trust placed in UTIMCO by the LHABCF Board,” said Director Hanna. "With the leadership of the LHABCF Board, the future of the Longhorn Band is bright!"