Civic Intelligence

Texas Tech Alumni Association

EIN 23-7319286 • 501(c)3 • Lubbock, TX

Profile

To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provides scholarships and alumni faculty awards.

PO Box 45001Lubbock, TX 79409

texastechalumni.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

16th percentile

0.01x

Higher debt load relative to assets than 16% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

36th percentile

0.12x

Higher debt load relative to revenue than 36% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

90th percentile

52%

Higher net margin than 90% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$246,484

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 17.3% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

92nd percentile

111%

Faster revenue growth than 92% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$16,567,730

Up $1,703,187 (+11%) from 2023

Liabilities

Down

$174,732

Down $5,156 (-2.9%) from 2023

Net Assets

Up

$16,392,998

Up $1,708,343 (+12%) from 2023

Operations
Liabilities / Revenue36th percentileNet Margin90th percentile

Revenue

Up

$1,422,521

Up $749,193 (+111%) from 2023

Expenses

Up

$679,085

Up $133,913 (+25%) from 2023

Net Income

Up

$743,436

Up $615,280 (+480%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth70th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2010: $5,659,993Liabilities 2010: $26,464Net Assets 2010: $5,633,5292010Assets 2011: $5,660,816Liabilities 2011: $20,411Net Assets 2011: $5,640,4052011Assets 2012: $6,264,658Liabilities 2012: $31,151Net Assets 2012: $6,233,5072012Assets 2013: $7,552,724Liabilities 2013: $32,847Net Assets 2013: $7,519,8772013Assets 2015: $8,938,070Liabilities 2015: $166,349Net Assets 2015: $8,771,7212015Assets 2016: $9,431,731Liabilities 2016: $197,410Net Assets 2016: $9,234,3212016Assets 2017: $10,941,007Liabilities 2017: $394,090Net Assets 2017: $10,546,9172017Assets 2018: $11,716,808Liabilities 2018: $178,841Net Assets 2018: $11,537,9672018Assets 2019: $11,852,837Liabilities 2019: $89,961Net Assets 2019: $11,762,8762019Assets 2020: $11,833,848Liabilities 2020: $144,704Net Assets 2020: $11,689,1442020Assets 2021: $14,002,966Liabilities 2021: $95,923Net Assets 2021: $13,907,0432021Assets 2022: $14,292,236Liabilities 2022: $76,068Net Assets 2022: $14,216,1682022Assets 2023: $14,864,543Liabilities 2023: $179,888Net Assets 2023: $14,684,6552023Assets 2024: $16,567,730Liabilities 2024: $174,732Net Assets 2024: $16,392,9982024

Highlighted filing

2024

Assets$16,567,730
Liabilities$174,732
Net Assets$16,392,998
Open 2024 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $302,8752010Expenses 2011: $229,5602011Expenses 2012: $260,4342012Revenue 2013: $1,541,479Expenses 2013: $313,465Net Income 2013: $1,228,0142013Revenue 2015: $827,344Expenses 2015: $368,751Net Income 2015: $458,5932015Revenue 2016: $1,105,466Expenses 2016: $438,302Net Income 2016: $667,1642016Revenue 2017: $1,413,114Expenses 2017: $425,420Net Income 2017: $987,6942017Revenue 2018: $863,511Expenses 2018: $386,237Net Income 2018: $477,2742018Revenue 2019: $732,138Expenses 2019: $527,669Net Income 2019: $204,4692019Revenue 2020: $726,202Expenses 2020: $598,436Net Income 2020: $127,7662020Revenue 2021: $246,773Expenses 2021: $579,903Net Income 2021: -$333,1302021Revenue 2022: $1,059,568Expenses 2022: $552,392Net Income 2022: $507,1762022Revenue 2023: $673,328Expenses 2023: $545,172Net Income 2023: $128,1562023Revenue 2024: $1,422,521Expenses 2024: $679,085Net Income 2024: $743,4362024

Highlighted filing

2024

Revenue$1,422,521
Expenses$679,085
Net Income$743,436
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,567,730
Liabilities
$174,732
Net assets
$16,392,998
Revenue
$1,422,521
Expenses
$679,085
Net income
$743,436
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.6$0.17$16.4$1.42$0.68$0.74
2023Detailed filing. Detailed filing data is available for this year.$14.9$0.18$14.7$0.67$0.55$0.13
2022Detailed filing. Detailed filing data is available for this year.$14.3$0.08$14.2$1.06$0.55$0.51
2021Detailed filing. Detailed filing data is available for this year.$14.0$0.10$13.9$0.25$0.58$0.33
2020Detailed filing. Detailed filing data is available for this year.$11.8$0.14$11.7$0.73$0.60$0.13
2019Detailed filing. Detailed filing data is available for this year.$11.9$0.09$11.8$0.73$0.53$0.20
2018Detailed filing. Detailed filing data is available for this year.$11.7$0.18$11.5$0.86$0.39$0.48
2017Detailed filing. Detailed filing data is available for this year.$10.9$0.39$10.5$1.41$0.43$0.99
2016Detailed filing. Detailed filing data is available for this year.$9.43$0.20$9.23$1.11$0.44$0.67
2015Detailed filing. Detailed filing data is available for this year.$8.94$0.17$8.77$0.83$0.37$0.46
2013Detailed filing. Detailed filing data is available for this year.$7.55$0.03$7.52$1.54$0.31$1.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.26$0.03$6.23$0.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.02$5.64$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.03$5.63$0.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2023 to Aug 31, 2024
Signed
Jul 10, 2025
Return Version
2023v6.0
Gross Receipts
$1,422,521
Mission and Program Overview

Mission

To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provide scholarships and alumni faculty awards.

To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provides scholarships and alumni faculty awards.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,065,165$10,634,467▲ $569,302
Savings and Temporary Cash Investments$4,105,821$5,101,124▲ $995,303
Prepaid Expenses and Deferred Charges$410,177$543,090▲ $132,913
Cash and Non-Interest-Bearing Accounts$170,255$174,081▲ $3,826
Pledges and Grants Receivable$113,125$114,968▲ $1,843
Total Assets$14,864,543$16,567,730▲ $1,703,187
Liabilities
Grants Payable$157,750$159,250▲ $1,500
Accounts Payable and Accrued Expenses$13,675$13,000▼ $675
Other Liabilities$8,463$2,482▼ $5,981
Total Liabilities$179,888$174,732▼ $5,156
Net Assets / Fund Balance
Net Assets With Donor Restrictions$14,684,655$16,392,998▲ $1,708,343
Total Net Assets Fund Balance$14,684,655$16,392,998▲ $1,708,343
Total Liabilities and Net Assets / Fund Balance$14,864,543$16,567,730▲ $1,703,187

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$14,684,655$1,225,313▲ $1,162,115$3,695$16,392,998
2022$14,216,168$634,859▲ $378,800$4,621$14,684,655
2021$13,907,043$933,304▼ $71,787$6,316$14,216,168
2020$11,689,144$413,733▲ $2,384,069$6,031$13,907,043
2019$11,762,876$374,611▲ $150,093-$11,689,144
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Missi Currier 124 - 824Chairman
Kevin NelsonFinance Chair
Curt LangfordBoard Member
David LadewigBoard Member
Jennifer Perez-stewartBoard Member
Jon Mark BernalBoard Member
Julie MeyerBoard Member
Morris Wilkes 923 - 1223Board Member
Nathan Nash 923 - 1223Board Member
Paul TarwaterBoard Member
Russ Webb 923 - 1223Board Member
Scott Dueser 923 - 1223Board Member
Tyler YoungBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,225,313
Program Service Revenue
$0
Investment Income
$197,208
Other Revenue
$0
All Other Contributions
$1,225,313
Change in Net Assets
$743,436

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,422,521
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$964,907
Total Revenue per Audited Statements
$2,387,428
Total Revenue per Form 990
$1,422,521
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$662,390
Other Expenses$16,695
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$662,390--$662,390
Fees for Services Accounting-$13,000-$13,000
Other Expenses-$3,695-$3,695
Total Functional Expenses$662,390$16,695$0$679,085

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$679,085
Total Expenses per Audited Statements$679,085
Total Expenses per Form 990$679,085
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$2,482
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the endowment officers and is then made available to the other board members for their review.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and audited financial statements are available for viewing by the public at the organization's office located in lubbock, tx.”

Form 990, Part VIII, Line 7

“The investments of the endowment are comingled with the investements of the university to realize the benefits of higher long-term investment returns, greater portfolio diversity and lower investment management costs. Due to this investment structure there is not enough information to report the gross proceeds and cost related to the sale of investments. Only the net gain or loss from the investment fund are reported to the endowment. As such the endowment is reporting the net loss on line 7b.”

Filing and Contact Details

Filer

Filer Name
Texas Tech Alumni Association
EIN
23-7319286
Phone
8067423641
Address
PO BOX 45001, LUBBOCK, TX 79409

Signing Officer

Name
Curt Langford
Title
Director
Phone
8067423641
Signed
2025-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Missi Currier
Formed
1973
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
13

Preparer

Firm
Bolinger Segars Gilbert and Moss Llp
Address
8215 NASHVILLE AVENUE, LUBBOCK, TX 79423
Preparer
Matt R Willis
Phone
8067473806
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The board of directors have assigned members of the board to an audit committee. The committee is in charge of selecting the independent cpa to perform the audit, and to oversee the audit. This procedure has not changed from prior years.”

Financial Statement Notes

PART V, LINE 4:

“To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provides scholarships and alumni faculty awards.”

PART X, LINE 2:

“The endowment trust has adopted the "uncertain tax positions" provisions of accounting principles generally accepted in the united states of america. The primary tax position of the endowment trust is its filing status as a tax exempt entity. The endowment trust determined that it is more likely than not that its tax positions will be sustained upon examination by the internal revenue service (irs), or other state taxing authorities. The endowment trust is no longer subject to examinations by federal taxing authorities for years before 2021. There were no penalties or interest recognized during the year ended august 31, 2024.”

Raw XML AppendixShowing 400 of 524 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
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IRS990/FormationYr01973
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IRS990/FSAuditedInd01
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IRS990/GoverningBodyVotingMembersCnt09
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IRS990/GrantsPayableGrp/EOYAmt0159250
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IRS990/GrantsToOrganizationsInd00
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IRS990/MissionDesc0TO ASSIST IN DEVELOPING AND INCREASING THE FACILITIES OF TEXAS TECH UNIVERSITY BY AND THROUGH ACTIVITIES OF THE TEXAS TECH ALUMNI ASSOCIATION. THE GOAL IS THE ADVANCEMENT OF HIGHER EDUCATION AND BROADER EDUCATIONAL OPPORTUNITIES INCLUDING RESEARCH AND OTHER LITERARY AND SCIENTIFIC UNDERTAKINGS. PROVIDES SCHOLARSHIPS AND ALUMNI FACULTY AWARDS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/QuidProQuoContributionsInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0933304
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0413733
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0374611
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IRS990ScheduleA/SubstantialContributorsTotAmt0122304
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0413733
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03581820
IRS990ScheduleA/TotalSupportAmt04067403
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt013000
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt014684655
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01225313
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt016392998
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0662390
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01162115
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt03695
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0634859
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt014684655
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0378800
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt04621
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt015000
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt013907043
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0374611
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt011689144
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0579440
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0150093
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02482
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/RevenueNotReportedAmt0964907
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01422521
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO ASSIST IN DEVELOPING AND INCREASING THE FACILITIES OF TEXAS TECH UNIVERSITY BY AND THROUGH ACTIVITIES OF THE TEXAS TECH ALUMNI ASSOCIATION. THE GOAL IS THE ADVANCEMENT OF HIGHER EDUCATION AND BROADER EDUCATIONAL OPPORTUNITIES INCLUDING RESEARCH AND OTHER LITERARY AND SCIENTIFIC UNDERTAKINGS. PROVIDES SCHOLARSHIPS AND ALUMNI FACULTY AWARDS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ENDOWMENT TRUST HAS ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE ENDOWMENT TRUST IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE ENDOWMENT TRUST DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITIES. THE ENDOWMENT TRUST IS NO LONGER SUBJECT TO EXAMINATIONS BY FEDERAL TAXING AUTHORITIES FOR YEARS BEFORE 2021. THERE WERE NO PENALTIES OR INTEREST RECOGNIZED DURING THE YEAR ENDED AUGUST 31, 2024.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
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IRS990ScheduleD/TotalLiabilityAmt02482
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IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0512
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS FOR SCHOLARSHIPS ARE MADE DIRECTLY TO TEXAS TECH UNIVERSITY. THE UNIVERSITY CONFIRMS THE STUDENTS ARE IN SCHOOL AND ELIGIBLE FOR THE SCHOLARSHIPS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
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IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CURT LANGFORD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BOARD MEMBER
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE ENDOWMENT OFFICERS AND IS THEN MADE AVAILABLE TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING BY THE PUBLIC AT THE ORGANIZATION'S OFFICE LOCATED IN LUBBOCK, TX.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE INVESTMENTS OF THE ENDOWMENT ARE COMINGLED WITH THE INVESTEMENTS OF THE UNIVERSITY TO REALIZE THE BENEFITS OF HIGHER LONG-TERM INVESTMENT RETURNS, GREATER PORTFOLIO DIVERSITY AND LOWER INVESTMENT MANAGEMENT COSTS. DUE TO THIS INVESTMENT STRUCTURE THERE IS NOT ENOUGH INFORMATION TO REPORT THE GROSS PROCEEDS AND COST RELATED TO THE SALE OF INVESTMENTS. ONLY THE NET GAIN OR LOSS FROM THE INVESTMENT FUND ARE REPORTED TO THE ENDOWMENT. AS SUCH THE ENDOWMENT IS REPORTING THE NET LOSS ON LINE 7B.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS OF THE BOARD TO AN AUDIT COMMITTEE. THE COMMITTEE IS IN CHARGE OF SELECTING THE INDEPENDENT CPA TO PERFORM THE AUDIT, AND TO OVERSEE THE AUDIT. THIS PROCEDURE HAS NOT CHANGED FROM PRIOR YEARS.

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