RGV Partnership Funds New Endowment
Wednesday, February 12, 2014
What started as an idea came to fruition on Wednesday at the annual Board of Regents dinner when the Rio Grande Valley Partnership presented Texas State Technical College a check for $7,500 as seed money for an endowment to benefit students in the Allied Health Division.
A few weeks back, RGV Partnership board member Frank Espinoza approached President Julian Alvarez about starting an endowment in anticipation of a growing need for healthcare and medical technicians in the area due to the establishment of the new University of Texas-Rio Grande Valley Medical School.
Espinoza is also a board member on the TSTC Foundation, which supports the critical needs of students and provides funds to enhance the college's ability to provide new and emerging technical programs to support the Texas workforce.
"We're trying to get ahead of the game," Espinoza said. "We're going to have our new graduating class (medical school) here soon and we want these medical professionals to stay in the Valley. And what better way to entice them to stay than providing a qualified workforce for them and what better place than TSTC."
The $7,500 endowment is to be used at the discretion of TSTC, Alvarez said, for scholarships or other financial assistance for students. The only requirement is that the students go into the healthcare field.
An endowment serves as a foundation for scholarships or other financial assistance in which only the interest can be used for giving.
"Our goal is to double the amount of the endowment next year," Alvarez said. "And it's our hope that other partners might see this and want to donate to the endowment also."
The check presentation was made in front of the Board of Regents and was received with high praise and enthusiasm by TSTC president Cesar Maldonado.
"This endowment is a great example of the support that the (RGV) Partnership has of our students," Maldonado said. "And it shows the region's commitment to economic development and the importance of a strong workforce."