The University of Louisiana at Lafayette Foundation honored its distinguished donors at a reception Thursday evening at the Petroleum Club of Lafayette.
The annual event recognizes donors making gifts of $10,000 or more to the University. The foundation commemorated 30 endowed gifts and 11 additional gifts of $50,000 or more to the University this year for academic and athletic programs.
“Despite challenging economic times, the University is benefitting from unprecedented private support from generous donors,” Dr. Joseph Savoie, UL Lafayette president, said at the reception.
This year’s 30 endowments, which have a combined value of more than $4.6 million, include chairs, a lectureship, general endowments, and scholarships. Each endowment is represented by a plaque in the Hall of Honor in Martin Hall. The additions bring the total number of plaques in the Hall to 368.
“This support is making a huge difference in the University. Our freshman class this fall had the highest average GPA and the highest average ACT score in the history of the University. The freshman class had 105 valedictorians, a record number for entering freshmen. Research expenditures this past year set a new record of nearly $70 million dollars,” Savoie said.
In total, three new endowed chairs, a lectureship, five general endowments, 21 new endowed scholarships and 11 non-endowed gifts for academics and athletics were recognized at the reception.
Julie Bolton Falgout, chief executive officer of the UL Lafayette Foundation, said the non-endowed gifts “provide funds available for immediate use and offer timely operational support for a variety of different programs.”
Savoie also recognized a significant contribution to the University made by Lafayette businessman Donald Mosing on the day of the reception. Mosing, of Frank's Casing Crew & Tool Rentals, Inc., last year donated $2.83 million to the College of Engineering.
“Last year we celebrated a $2.8 million dollar gift to the College of Engineering from Mr. Don Mosing. This gift created a $1 million dollar endowed chair, a new-computer aided design laboratory for students, a student career development program and a student leadership program. Two or three hours ago, I learned that he has committed to give the University another $1 million dollars," Savoie said at the reception.
Endowed funds are invested, which means the capital is not spent. Only a portion of the interest earned is tapped. So, endowments are perpetual sources of funding.
To create an Endowed Chair, an institution must first raise at least $600,000 from private contributions, which is then matched by $400,000 from the Board of Regents. The total value of an Endowed Chair is $1 million. The same formula applies to the Endowed Professorship program; $60,000 comes from private donations, leading to a Board of Regents match of $40,000.
The interest is distributed for student scholarships, professor salaries, research supplements or other designated programs. The Foundation’s assets are valued at more than $144 million.
Endowments to be added to the Hall of Honor are listed below:
- Acadiana Symphony Women's League Endowed Scholarship
- Annual Fund Athletic Scholarship Endowment
- Atmos Energy First Generation Endowed Scholarship
- William A. Brady Endowed Scholarship for Business Administration
- Anne M. and Dwight T. Coles Endowed Honors Scholarship (Duo)
- Corrosion Center Endowed Scholarship in Chemical Engineering
- Jim & Charlotte Doyle Endowed Scholarship in Business Administration
- Bill & Heather Finley Geosciences Scholarship Fund
- George "Ged" Fleming Memorial Endowed Scholarship in Business
- Dr. Robert G. Fontenot Memorial Endowed Graduate School Scholarship in Education
- Beldon E. Fox, Sr. Memorial Endowed Scholarship
- Ivan L. "Joey" Garzotto II Memorial Endowed Scholarship
- John Hoffpauir Endowed Scholarship in Nursing
- IBERIABANK Endowed Scholarship
- Rotary Club of Lafayette South Endowed First Generation Scholarship in Business
- Mr. & Mrs. Ovide Servat Memorial Endowed Scholarship
- Nelson Stokley Endowed Football Scholarship
- Spencer G. Todd Memorial Endowed Scholarship in Tennis
- Mike & Jovette Mosing First Generation Scholarships in: Economics and Finance; Management; and Interior Design
- Mike & Jovette Mosing Men's Tennis Endowment and Women's Tennis Endowment
- Dominion Exploration & Production, Inc. Petroleum Engineering Faculty Development Fund
- Louisiana’s Victory Run Endowment
- James William Rivers Endowed Prize Fund
- John Bartholomew Bienvenu Endowed Lectureship for the Hilliard University Art Museum
- E. G. "T-Boy" & Martha Hebert Endowed Chair in Marketing
- Mr. & Mrs. E. P. "Pat" Nalley Endowed Chair in Business Administration
- Alex & Loretta Durand Theriot, Jr. Endowed Chair in Civil Engineering
The following individuals and corporations were recognized for their generous contributions to UL Lafayette’s academic and athletic programs:
- Glenn Armentor
- Ed & Rickey Domingues
- Dupré Logistics
- Bryan & Michelle Hanks
- IBERIABANK
- Charlie Moncla
- James Moncus
- The Moody Family
- Tommie Rogers; Rogers Development Group, LLC
- Chris & Mamie Russo; Russo Exploration, LLC
- Rodney Savoy