An effort to raise TCU’s endowment by $1 billion is part of a larger effort focused on sustainability, according to Chancellor Victor Boschini.
TCU is considered financially “stable,” according to a Wall Street analysis, that noted its steady enrollment and strong cash flow. But Moody’s Investor Service also noted the reverse of either trend could hurt TCU.
In a discussion with students last month, Boschini said the “Lead On” campaign, which officially launched Oct. 24, and efforts at budget tightening are all meant to insulate the university from a downturn while giving it more resources to help students.
“Something I want to achieve is ultimate sustainability,” Boschini said. “I want to have enough financial aid to be ‘need-blind,’ which we aren’t right now.”
University officials have already raised $600 million, including a $10 million scholarship gift which was given by the Harrison family to help middle-income students.
The members of the Harrison family have been tied to the TCU community for many generations — many of them are Horned Frog graduates.
Boschini said their gift to the endowment is important because it’s tied to students.
“A lot of people don’t want to give to an endowment because it is not as ‘sexy’ as a building or a program,” Boschini said. “The endowment pays for scholarships, and that is the number one thing we are trying to raise money for.”
When we lead the charge, we lead the change. Join us as we embark on an ambitious campaign that will change our university – and the world around us – for the better. #LeadOnTCU pic.twitter.com/aDDwRoMTJJ
— TCU (@TCU) October 25, 2019
Boschini is planning to visit 20 cities in hopes of selling TCU to the alumni and asking them to support TCU in its efforts to better the university.
“It takes years to plan a campaign like this,” Boschini said. “You don’t want to announce a campaign unless you actually can meet it.”
The chancellor is in a cost-saving mindset; there is currently a five-year hiatus on construction at TCU. This means unless the project has already started, TCU will not fund any new buildings in the next five years. However, if someone were to fully fund the building, they would have plans for it made.
For more information on TCU’s Lead On campaign, visit the website.