I was surprised and disappointed to read that the Texas Tech Alumni Association is going to be absorbed by Texas Tech University. This is the first example I have seen in my long career as a nonprofit tax attorney where such a decision has been made.
One of the stated reasons is to be sure that University priorities are funded (“to ensure funding goes where it is most needed”). But isn’t one of the reasons to have a separate outside organization to allow alumni to fund their priorities?
For example, I doubt that University priorities would have ever included a scholarship fund like the Vietnam Center Lee Roy Herron Memorial Endowed Scholarship Fund. But that fund was a priority of mine and my 1963 Lubbock High graduates. Once that fund is absorbed into the University, will the University be able to use the income from that endowed fund for a “most needed” priority other than to help students travel to Vietnam?
For a number of years I was a tax consultant to The University of Texas Law School Foundation. I know that the trustees of that foundation jealously guarded their autonomy from UT itself. I might have a heart attack from shock if I ever heard that the law school foundation voluntarily surrendered its assets to UT. As an example of the usefulness of that foundation, its funds can be used to pay for items that UT could not legally provide, such as extra pay incentives to hire top legal professors for the law school.
Isn’t TTAA giving up a similar ability to go beyond state guidelines and rules, by giving its assets to Texas Tech University? Will not those assets become subject to Texas state laws, rules and guidelines?
I am surprised that the Board of TTAA would agree to a merger. I just think any advantages are outweighed by numerous disadvantages, and that TTAA autonomy is a better idea. But apparently the train has already left the station; and I hope my misgivings are misplaced. – David Nelson, a Lubbock native in Houston. Texas Tech class of 1967.
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This article originally appeared on Lubbock Avalanche-Journal: Letter: Texas Tech alumnus David Nelson surprised, disappointed by TTAA move to university
Reporting by By David Nelson, special for the Avalanche-Journal / Lubbock Avalanche-Journal
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