A permanent endowment at The University of Texas at Austin to sustain the Showband of the Southwest for future generations.
Please join us in supporting this new endowment to provide unrestricted support for the Longhorn Band (LHB).
Why create an endowment for Longhorn Band?
Endowments are a sound investment in a better future. With an endowed gift at The University of Texas at Austin, you can provide permanent support for the LHB. An endowment is a gift that is invested--never spent--and each year a distribution, like dividends on a mutual fund account, is made to the designated program. Investment earnings above the dividend rate help the endowment value grow over time.
Why create an endowment through UT?
UT System has a well-managed and reputable investment fund, UTIMCO. UTIMCO has a proven track record of good returns and high security. UTIMCO currently manages over $30 billion in UT investments. The average annual investment return has averaged approximately 8.5% and the annual distribution ("payout") averages between 4.75% and 5% over the last five years.
Most importantly, every endowment at UT is managed by the academic unit for which it is created. The Longhorn Band Legacy Fund will be managed by the Longhorn Band director and the director of bands at the Butler School of Music.
How do I know UT will use my endowment for the designated purpose?
With all UT endowments, the donor decides how the funds will be used. Every endowment has a binding legal agreement, which outlines the donor's criteria for how and by whom the funds are to be distributed. Once an endowment is established, only the original donor can change the criteria. No university official--president, dean, faculty member--has the legal right to change an endowment's criteria.
What are the criteria for this endowment? How will the distribution be spent?
The Longhorn Band Legacy Fund exclusively benefits the Longhorn Band. Funds are distributed by the Longhorn Band director and the director of bands for financial support of the Longhorn Band, including but not limited to student scholarships, travel, performances, uniforms, instruments and equipment.
How can I contribute to the Longhorn Band Legacy Fund?
Please contact Sondra Lomax, Assistant Dean of Development by email or call 512-796-9594 to learn how you can help, or give now.