When you donate to support scholarship grants for Daily Texan staff members, via Friends of The Daily Texan, what happens after you write a check or make an online donation?
- First, donations of any size are appreciated and help us reach our $300,000 goal in 2023.
- Please be aware that the Friends of The Daily Texan is a 501 (c)(3) nonprofit organization that has been recognized by the IRS as being tax-exempt by virtue of its charitable programs. Your donation may be tax deductible.
- As donations are received they are deposited to an endowment fund with the University of Texas established by Friends of The Daily Texan, Inc. The fund was established 5 years ago by an agreement between the Friends president and the dean of Moody College of Communication.
- The funds are invested via the University of Texas Development office, and the current Friends endowment receives a strong annual percentage return on the investment, which helps us grow the endowment and ultimately scholarships to Texan staffers.
- Each year the Friends group pays cash awards to Texan staffers, who are chosen by a team of student and professional leaders of The Daily Texan. Those awards are announced at the annual Friends of The Daily Texan dinner.
- In 2024, at least 13 students will receive scholarship grants from the Friends group and donors to the endowment effort.
- Currently the Friends group is in the middle of a fund drive to raise $300,000 in 2023 to fully endow all scholarships given each year. Those scholarships that are not endowed are funded annually by donations and by proceeds from the Friends annual Hall of Fame dinner.
- The Friends group believes that it is imperative that all scholarships be fully endowed so they are there for the future generations of student journalists.
- The growth of the endowment will also provide the opportunity to add additional scholarships.
- All donors will be recognized in a permanent and lasting manner.
- Want to know more? Contact: friendsofthetexan@gmail.com
- Want to donate? Online option: https://friendsofthedailytexan.com/donations/
- Or by check: Friends of The Daily Texan, P.O. Box 8383, Austin, Texas 78713
- Since the Friends group’s first grant of $1,500 to one student in 2018, $41,750 has been awarded to 36 Texan staffers. Next spring at least two more scholarships will be added to the list, providing financial support to 49 students, totaling $62,750.
Please consider supporting current and future Daily Texan staffers and help make these scholarships permanent.
Donors will be recognized in a lasting manner at completion of the endowment drive.
Every donation, of any size, gets us closer to the $300,000 goal in 2023.