Gross Receipts: $16,450,232
Total assets: $152,428,694
Total liabilities: $1,042,346
Net assets: $151,386,348
Year founded: 1952
Number of people on board: 29
The University of Texas School of Law Foundation provides loans for mortgages, deferred compensation and other forms of salary supplementation as hiring incentives to attract top faculty to the University. In 2011, the foundation’s net assets totaled $151,386,348, according to IRS documents.
Founded in 1952, the foundation assists in raising funds for scholarships, financial assistance for post-graduates and job placement opportunities.
The foundation’s board of trustees, which includes former U.S. Sen. Kailey Bay Hutchinson, R-Texas, well-known alumnus Joe Jamail and current Texas Exes President John Beckworth.
The foundation used to provide forgivable loans to faculty members. The program was discontinued after the foundation came under scrutiny over a forgivable loan obtained by former law school dean Lawrence Sager without proper administrative oversight.