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Texas A&M Foundation
2022 Annual Report

  • Welcome
  • Impacts
  • Initiatives
  • Financials
01

Welcome

Chair & President's Message
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02

Impacts

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03

Initiatives

Learn about initiatives
04

Financials

Dig into the financials

The River Rolls On

The Greek philosopher Heraclitus famously said, “No man ever steps in the same river twice, for it is not the same river, and he is not the same man.” For many former students, visiting Texas A&M University these days can feel like returning to an old creek and discovering it has miraculously grown to the size of the Mississippi River. While this university steadily retains the things that make it quintessentially Aggieland—its community and its everlasting core values—Texas A&M’s ever-expanding size and scope have called for us at the Texas A&M Foundation to continuously adapt alongside it, meeting its needs so it can meet the needs of our state, nation and world.

This past year heralded the arrival of President M. Katherine Banks, who spearheaded a substantial administrative reorganization for Texas A&M University. Dubbed “The Path Forward,” Dr. Banks’ plan laid out numerous changes to centralize many university operations and included several academic unit realignments. As Aggie faculty and staff have worked to facilitate this complex transition, the Foundation has continued its evolution and our own restructure that started nearly three years ago to better align our culture, organizational structure and operations to best serve our donors, our university partners and our team members.

During the post-COVID landscape and particularly despite the market volatility of the last fiscal year, we are pleased to report that our endowment still outperformed benchmarks. Additionally, our total fundraising exceeded $350 million, a testament to your choices to prioritize philanthropy even in times of inflation and economic uncertainty.

In other changes, our Board of Trustees approved multiple strategic initiatives to ensure the vision and mission of the Foundation are being achieved. This included the removal of gift fees and the approval of an “all-weather” portfolio construct for the endowment; improved human resources processes specifically designed to recruit, retain and reward the most passionate professionals in our organization; and a renovation of the Jon L. Hagler Center. This year-long facelift is intended to modernize the facility for our team and our incredible guests, all at no cost to donors since our operations are funded from the management of the endowment. The new Hagler Center provides a home for philanthropy at Texas A&M that is both classic and cutting edge. We anticipate the completion of all renovations in early 2023. 

Though we may focus on the things that have changed at Texas A&M and our Foundation, it is worth recognizing all that has remained the same. We stay committed to our core values and to serving this university. We are not complacent nor entitled and strive to earn your trust with every engagement. Our Board and everyone associated with our organization believes wholeheartedly that we are helping ensure character-driven education and the insatiable pursuit of knowledge that sets the Aggie community apart. As Aggieland grows and we grow with it, we are grateful as ever for your continued trust in our team’s stewardship and investment in our university’s mission.

Thanks for all you do.

William R. "Billy" Lemmons Jr. '83 Chair

Tyson Voelkel ’96 President & CEO

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Board of Trustees

The Foundation’s Board of Trustees consists of seven former students, each with extensive business experience. These individuals determine our investment and fundraising policies and approve our annual budget.

  • William R. "Billy" Lemmons Jr. '83Board Chair
  • Gina Luna '95Chair-Elect
  • Louis "Lou" Paletta '78
  • Kathleen Gibson '81
  • George Harris Jr. '85
  • Dan Allen Hughes Jr. '80
  • Michele Mobley '87
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Impacts

Philanthropy creates a better Texas A&M. Texas A&M creates a better world.

Texas A&M University is a powerful catalyst for positive change, and the Texas A&M Foundation is where that change comes to fruition.

Scholarships help students build lives beyond their wildest dreams, gifts supporting faculty and staff bring the world’s greatest researchers and mentors to College Station, and private contributions pave the way for cutting-edge facilities that enable every Aggie to reach their full potential.

No matter what, our team relishes finding new ways to make our donors’ greatest passions a reality. Here’s a look at how just a few significant gifts from the past fiscal year will benefit Texas A&M students, schools and programs for generations to come.

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August 2021

Educating and Training Cyber Defenders

Recognizing the importance of training cybersecurity experts to defend America’s public and private security, venture capitalist Ray Rothrock ’77 and Anthony Wood ’90, founder, chairman and CEO of Roku Inc., founded The Texas A&M Global Cyber Research Institute with endowed gifts totaling $10 million. In alignment with Texas A&M’s land-grant mission, the institute will conduct high-impact research on threats to and protections for the nation’s security and economy while uniquely preparing students to excel in the ever-growing cybersecurity field.

November 2021

Investing in Aggie Finance

Commodities trader and Aspire Commodities owner Adam Sinn ’00 gave $10 million in November 2021 to support students and programs in Mays Business School’s newly renamed Adam C. Sinn ’00 Department of Finance. Sinn’s extraordinary gift included $7.5 million for undergraduate and graduate scholarships. In March 2022, he doubled his impact with an additional $10 million gift to further support the school’s finance department and programs. His second principal gift will fund a student-managed investment fund, provide department excellence funds, create study abroad opportunities for finance majors and support student entrepreneurship.

December 2021

Building a True Home for Business Education

Wayne Roberts ’85, a proud Mays Business School graduate, gave the lead gift of $7.5 million toward construction of a cutting-edge building that will be the centerpiece of the new Business Education Complex on West Campus. Projected to open in 2025, the new complex is a key part of the school’s efforts to become the preeminent public business school in the nation. Thanks to Roberts, tomorrow's students will enjoy a new state-of-the-art facility that better reflects the future of business and entrepreneurship. Innovative spaces—equipped with the latest technologies and designed to support advanced learning models—will promote greater connectivity, creativity and collaboration between Mays’ students and faculty.

January 2022

Giving Freshmen Engineers a Head Start

The first semester for freshmen engineering undergraduates can be daunting, especially if they’re not used to the academic workload. To help prepare incoming first-generation students for success, civil engineer Scott Saenger ’83 gave $500,000 to the College of Engineering to support first-generation scholarships and the Engineering Summer Bridge Program. The four-week program helps acclimate incoming engineering students to the rigors of engineering coursework, introduces them to Aggie faculty and staff, and gives them plenty of tips to flourish as freshmen. 

April 2022

Sending Aerospace Engineering Sky High

After enjoying an aerospace career spanning more than six decades and serving as head of the Department of Aerospace Engineering from 1997 to 2002, Dr. Terry Alfriend and his wife, Bonnie, gave $1 million to help Aggies in aerospace continue to soar. Through a mixed current and planned gift, the couple will create a scholarship, associate professorship and faculty fellowship in the same department Terry led and loved. Their gift’s hybrid structure allows the Alfriends to impact students with a scholarship during their lifetimes while knowing that their planned estate contributions will help future generations take flight.

June 2022

Driving Agriculture Forward

Bobette Grant ’73 cruised around Aggieland in her rare 1964 Austin Healey 3000 when she wasn’t in class. To help other Aggies in the College of Agriculture and Life Sciences enjoy a smooth ride through their studies, she and her husband, John, have established a current scholarship for undergraduates and planned a significant estate gift. Their planned gift will give the college’s leadership flexibility in advancing important initiatives by growing both the dean’s excellence fund and an excellence fund for the Department of Agricultural Economics. Additionally, the Grants’ after-lifetime gift will create a President’s Endowed Scholarship in their name as well as one in memory of John’s father, John Grant Jr. ’44.

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Initiatives

With Texas A&M University, the Texas A&M Foundation and donors collaborating as partners, the sky is the limit.

As Texas A&M continues to grow in size and scope, effective coordination between Texas A&M administrators, college and school leaders, the Foundation and donors is paramount to continued success. 

Our team works to maintain a steady flow of information between all parties so the university can address its needs and our donors can make informed philanthropic decisions. When donors approach the Foundation hoping to make a Texas-sized difference in Aggieland, we’re ready to lead them where they are needed most.

The following section highlights a few priority initiatives from across the university during fiscal year 2023. As you read on, consider the impact you could make by helping Texas A&M meet its most ambitious and critical goals.
 

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Double Your Support for Underserved Students

Texas A&M is committed to recruiting and retaining outstanding undergraduates from historically disadvantaged groups often underserved in the Aggie student body, including minority students and those who face significant economic or educational hurdles. Since 1999, the Foundation Excellence Award (FEA) has helped the university in these efforts by awarding meaningful financial support to underserved Aggies who need it most. 

Recognizing the program’s effectiveness, the university has established a goal to award several hundred new FEA scholarships annually to support 1,500 more students by fall 2029. As an added incentive, the President’s Office has pledged a limited number of matching funds available annually through 2029 for eligible FEA scholarships. 

Through these matching funds, you can double your donation of $10,000 to create a $20,000 pass-through FEA scholarship that will grant a student recipient an annual stipend of $5,000 for four years. For a perpetual impact, however, individuals and corporations can endow a $50,000 FEA that will help deserving students write their own Aggie stories for generations. If you pay your gift in full within one year, the university will match the earnings of your endowment during its first four years to generate a larger annual stipend for your student recipient during that initial period.

To learn how you can make Aggieland a place for all through a Foundation Excellence Award, contact Al Pulliam ’87 at 979.209.0867 or by submitting a message here.

Turn Tech Maroon

To fulfill its grand vision of becoming the preeminent public business school in America, Mays Business School must take a bold leap into the tech industry. That sector currently accounts for 14 of the nation’s top 25 companies.

Under an innovative new program branded Aggies in Tech, Mays will strive to achieve aggressive growth in the placement of its school’s graduates in tech positions. The initiative will establish Texas A&M as a prime source of business professionals for the tech industry and foster a network of mentors in and around the industry. 

The program’s ultimate success will require a community investment in excellence funds, scholarships, and chairs and professorships tailored to its needs. With this financial support, Mays students, faculty and staff will establish Aggieland as a utopia for tech recruiting.

To discover how you can “Turn Tech Maroon” by bolstering the Aggies in Tech program, contact Mark Toler ’19 at 979.862.4531 or by submitting a message here.

Build the Next-Generation Small Animal Teaching Hospital

Texas A&M’s School of Veterinary Medicine & Biomedical Sciences has achieved a sterling reputation for itself, attracting the brightest students, faculty and staff while delivering best-in-class veterinary education and care. However, its aging and cramped Small Animal Hospital is keeping the school from reaching its true potential.

As veterinary education becomes increasingly collaborative and patient-centered, the need for a new Next-Generation Small Animal Teaching Hospital at Texas A&M is greater than ever. The new hospital will offer Aggie veterinarians much-needed space, modernized equipment, and enhanced support for interdisciplinary research, telehealth and connected care. 

While the university and the Texas Legislature have provided significant funds toward the new facility, its construction requires $50 million in additional private support. Aside from its benefits to clients, the new hospital will also represent a significant investment in the veterinary professional program, creating more vibrant and hands-on educational opportunities and solidifying Texas A&M as a world-class destination for veterinary care.

To learn how you can help create the veterinary hospital of the future, contact Larry Walker ’97 at 979.458.4032 or by submitting a message here. Support construction with gifts of $25 or more online at give.am/SmallAnimalHospital.

Foster Life-Changing Moments Through the Aggie Experience Fund

As country singer Granger Smith ’02 sang in his nostalgic “We Bleed Maroon” ballad, “We learned some from books and a whole lot from living.” While Texas A&M prides itself on academic rigor and top-tier research, its former students especially cherish the “other education”—the life-changing lessons learned and memories made with fellow Aggies in the university’s extracurricular organizations.

Now, former students can directly support these precious moments in students’ lives through the Aggie Experience Fund. Intended to make extracurricular activities more affordable for students who have financial need, the unique fund provides up to $250 or 50% of the cost to participate in recognized student organizations or programs.

One financially independent student, Anna Trickey ’22, utilized the funds to be a counselor at Howdy Camp, where she welcomed transfer students and incoming freshmen to Aggieland and formed meaningful bonds along the way. Since the fund began in spring 2022, more than 375 students have experienced the joy of pursuing their passions and finding friends through extracurriculars, free of financial worry.

To support Texas A&M’s “other education” and help students make memories that last a lifetime, contact Reagan Chessher ’96 at 979.862.6415 or by submitting a message here. Support the fund with gifts of $25 or more online at give.am/Aggie ExperienceFund.

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Double Your Support for Underserved Students

Turn Tech Maroon

Build the Next-Generation Small Animal Teaching Hospital

Foster Life-Changing Moments Through the Aggie Experience Fund

Continue to financials

Financials

The Texas A&M Foundation has created numerous checks and balances to ensure the integrity of our financial procedures. The following pages summarize our financial performance for fiscal year 2022.

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  • Gifts Overview
  • Endowments
  • Planned Gifts
  • Investments

Gifts

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Change in Net Assets

The Foundation’s net assets decreased 0.07% during the 2022 fiscal year. The organization’s net assets are primarily driven by investments, with the largest portion held in public equity. The combined factors of elevated inflation, rising interest rates and geopolitical uncertainty have slowed growth and impacted our year-end total. Despite these headwinds, the Foundation has consistently delivered top quartile returns relative to peer endowments and foundations and has increased funds made available to Texas A&M in the current fiscal year.

“Going to college was something I always knew I would do. There was no other option. My parents came here to give me a better life, so I want to take advantage of every educational opportunity possible. I want to make them proud.”

Electrical engineering student Lizzett Tapia ’23 knew she wanted to attend Texas A&M as soon as she stepped on campus for a tour, and two impactful scholarships sealed the decision for the first-generation student. Beyond the financial assistance, her scholarships provide a community of scholars and mentors who are empowering her to achieve her educational goals.

Lizzett Tapia '23
Dallas, Texas

'23
The Texas A&M Legacy Society

The Texas A&M Legacy Society recognizes individuals, corporations and organizations whose cumulative, current giving to the following organizations totals $100,000 or more: the Texas A&M Foundation, The Association of Former Students, the 12th Man Foundation, the George & Barbara Bush Foundation, the Texas Aggie Corps of Cadets Association, and Texas A&M University. An impressive 7,902 Legacy Society members have collectively given $4.2 billion to support Texas A&M.

493

New Legacy Society Members

7,902

Total Legacy Society Members

Gifts to Texas A&M

Donors gave $212 million to the Texas A&M Foundation and Texas A&M University during the fiscal year ending on June 30, 2022. Following generally accepted accounting principles, the totals include pledges and irrevocable planned gifts. For every dollar raised during the past five years, the Foundation has spent an average of 15.7 cents.

“Knowing that someone who has never met me believes in my potential as a future educator is a feeling I cannot begin to explain. I hope my performance and attitude as a student and educator is enough to prove my gratitude for this gift.”

A junior special education major, Heidi Gidden ’24 is passionate about providing educational opportunities for all. Motivated by her experiences working with children with special needs, she hopes to become a teacher who can assist her students with the support they need to succeed, and she’s grateful for the scholarship that is helping her achieve her dreams.

Heidi Gidden '24
Spring, Texas

'24
Largest Corporate Donor

The Abe and Annie Seibel Foundation topped the list of largest corporate and foundation donors during fiscal year 2022. A $5 million gift from the organization supported construction of the Southside Recreation Center and will continue to help enhance and maintain cutting-edge amenities for the new 63,500-square-foot facility, which opened in August 2022.

$5M

Given by the Abe and Annie Seibel Foundation

Largest Giving by Class Year

Gifts to the Foundation come from former students in all class years, from the 1940s to the 2020s. However, former students from the classes of 1970-1979 gave the most during fiscal year 2022, contributing 1,255 gifts totaling more than $28 million.

$28M

Given by former students who graduated in the 1970s

Who Gave to the Foundation?

Contributions from former students, friends, and private and family foundations (many formed by former students) make up 72% of gifts to the Foundation, while gifts from corporations and other organizations make up 28% of the total.

Sources of Gifts Received in Fiscal Year 2022

    “I feel blessed and proud to have received this scholarship, which rewards leadership, education and physical excellence. I’m using every opportunity presented to succeed as a professional and further honor Dr. Anthony and the Hendersons.”

    During his time in the Corps of Cadets’ Company L-1, Griffin Shimkus ’22 received multiple opportunities that set him up for success: leadership and professional skills, an economics degree and a scholarship created by the late Dr. Bill Anthony ’71. Today, these foundations help him succeed as he continues to embody the Aggie core values in his new career at Dell Technologies.

    Griffin Shimkus '22
    Katy, Texas

    '22
    What Did Gifts Support?

    Each Foundation gift is linked to one of four areas at Texas A&M University. Scholarship gifts fund scholarships and fellowships for undergraduate and graduate students. Faculty and research gifts fund chairs, professorships and fellowships to attract and retain outstanding faculty. Gifts for college programs and facilities help a college or department through programmatic, discretionary or building funds, which in turn support faculty and students through improved teaching and learning environments. Gifts for student activities and traditions cultivate student organizations, campus traditions and other outside-the-classroom programs.

    Where Fiscal Year 2022 Gifts Were Directed

      “I hope to return the favor by creating scholarships to help future generations of Aggies. I want others to have the same opportunities my scholarship afforded me.”

      With the help of a President’s Endowed Scholarship, Lacey Pattie ’22 earned her business honors and management degree. Her time in Aggieland allowed her to further her passion for music as she served as president of The Femmatas, a Texas A&M women’s a cappella group. Aided by her experiences, Pattie hopes to create her own music label or publishing company one day. She currently writes and releases her own music.

      Lacey Pattie '22
      San Antonio, Texas

      '22
      Foundation Funds Made Available to Texas A&M

      Each year, the Foundation makes millions of dollars available to Texas A&M for students, faculty, facilities and programs according to donors’ wishes. In fiscal year 2022, these funds totaled $137.7 million. This consists of non-endowed gifts—funds disbursed immediately rather than invested by the Foundation—and income from endowments.

      $117.3M

      Annual Total for FY2021

      $137.7M

      Annual Total for FY2022

      Endowments

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      New Endowments Breakdown

      The Foundation prides itself on enhancing the academic experience at Texas A&M University for both students and faculty. Donors who create endowments for scholarships, chairs, professorships, fellowships and various other needs leave a legacy that enhances Texas A&M’s core mission of providing the highest-quality undergraduate and graduate programs. During fiscal year 2022, donor contributions added 538 new endowments.

      *Other endowments include those supporting student organizations, college-based programs and excellence funds, education abroad initiatives and the university libraries, among others.

      442

      Scholarships & Graduate Fellowships

      74

      Other Endowments*

      22

      Faculty Chairs, Professorships & Fellowships

      538

      Total New Endowments

      “I’m doing what I want to do—helping people. Thanks to the generous donor who planned this fellowship, I can try to make the world a better place.”

      Woolim Hong ’17 ’22 is working to improve life for amputees by developing robotic prostheses that provide safer, more synchronized motion for patients who have lost their knee and ankle joints. During Hong’s doctoral studies at Texas A&M, a fellowship allowed him to pursue this impactful research, which he continues today in postdoctoral work beyond Aggieland.

      Woolim Hong '17 '22
      Seoul, South Korea

      '17 '22
      Endowment Performance Over Time

      The Texas A&M Foundation invests endowments using asset allocation to maximize growth while safeguarding capital during tough economic times. The graph shown here illustrates the power of a $100,000 endowed scholarship created in 2002 and its cumulative value of student stipends over time. After 20 years, this single endowment would have paid out stipends at approximately $5,000 annually for a total of $105,170, while its market value would have increased to $165,417. Whether created with a cash gift or through an after-lifetime gift, endowments are crucial sources of support for Texas A&M University given their long-term financial impact.

      “My scholarship allows me to pursue medicine and connect with students who share a similar path. It’s a reminder that Aggies support each other and never let one another fail.”

      Biomedical sciences major Avyn McDuffie ’25 is immersing herself in an Aggie education thanks to a Foundation Excellence Award. In addition to her classes, McDuffie participates in research and completed a radiology internship with Houston Methodist Hospital, all in pursuit of her goal to become a doctor and open a practice in her hometown.

      Avyn McDuffie '25
      La Porte, Texas

      '25

      Planned Gifts

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      Planned giving by the numbers

      The Foundation’s Office of Planned Giving helps donors establish after-lifetime and dual-benefit gifts that will aid Texas A&M University and its students in the future. For fiscal year 2022, the Foundation documented $113 million in planned gifts, which includes gifts that will be received by the Texas A&M Foundation, The Association of Former Students, the 12th Man Foundation, and the George & Barbara Bush Foundation. During the past decade, the Foundation has documented more than $1.2 billion in planned gift expectancies.

      $113M

      Total value of planned gifts documented in FY2022

      $9.2M

      Value of realized gifts during FY2022 as a result of estate intentions

      $167.2M

      Value of realized gifts in the past 10 years

      $148 - $41M

      Range of planned gift values in FY2022

      Planned giving stats

      126

      Planned gifts created in FY2022

      $872,680

      Average planned gift size in FY2022

      91

      New Heritage Members in FY2022

      52%

      of planned gifts were bequests in FY2022

      Projected Funds for Texas A&M from Realized Planned Gifts

      This chart shows the anticipated funds Texas A&M will receive as a result of estate intentions over the next 30 years. Because of their long time horizon, planned gifts are an essential source of future support for Texas A&M. The popularity of planned gifts continues to increase, as these flexible commitments allow individuals to customize their method of giving, receive potential financial benefits and provide for loved ones, all while supporting their passions in Aggieland.

      Investments

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      Long-Term Investment Pool Growth

      The long-term investment pool (LTIP)—which has a total value of nearly $2.6 billion—has consistently met or exceeded our portfolio management guidelines, resulting in both the growth of funds available to Texas A&M University and the asset size of the portfolio. The LTIP is composed mostly of endowments, but also includes other non-endowed funds invested for the long term.

      Investment Performance

      Our investment team has consistently delivered top quartile returns relative to peer endowments and foundations and has added meaningful excess returns over all relevant time periods when compared to the portfolio’s policy benchmark. The 10-year annualized return of 8.9% delivers on the mission of preserving and growing the endowment over the long run and materially exceeds the nominal policy target. In the short run, however, the 1-year return of 2.1% lags long-term objectives as elevated inflation, rising interest rates and geopolitical uncertainty have slowed growth and increased market uncertainty and volatility, resulting in negative 10.6% and 18.5% returns over the same timeframe in the S&P 500 and the Long U.S. Treasury, respectively. Despite these headwinds, the investment team remains focused on creating value over the long term by looking past short-term volatility and taking advantage of the portfolio’s primary competitive advantage of an indefinite time horizon.

      “I want my donors to see that their kindness is leading me to big things. It’s people like them who allow dreams like mine to take off.”

      Melanie Meyer ’23 is shooting for the stars thanks to an Endowed Opportunity Award. Always one to tenaciously pursue her passions, the senior mechanical engineering student plans to realize her childhood dream of becoming an astronaut. In the meantime, she enjoys soaring among the clouds as she works toward her pilot’s license.

      Melanie Meyer '23
      Geneva, Illinois

      '23
      Long-Term Investment Pool Asset Allocation

      The investment team’s mission is to advance Texas A&M University by maintaining the spending power of the Foundation’s long-term asset base through a balanced strategy actively focused on preserving and growing capital. The team is building an all-weather, well-balanced and globally diversified portfolio across different asset types and strategies with the goal of providing stable and predictable long-term support to all stakeholders.

      Current allocation of LTIP investments as of June 30, 2022

        “I grew up in a low-income family, and money was tight with a single mother. College was always something I questioned pursuing, but this support drives me even more to complete my education and makes it all worth it.”

        José Pedraza ’24 plans to open a financial advising firm one day that provides low-income families with affordable consulting. Grateful for the boost from an Endowed Opportunity Award, he hopes to pay it forward by sharing what he’s learned through his college experience and finance classes to help others manage their money and achieve economic prosperity.

        José Pedraza '24
        Grapevine, Texas

        '24
        Continue to Thanks

        Thank You.

        Our team at the Texas A&M Foundation cannot thank you enough for your continued support of our beloved university and the one-of-a-kind Aggie community. We know it wasn’t always an easy choice to prioritize philanthropy in the economic uncertainty of the last fiscal year, but your steadfast commitment inspires our whole team.

        We are grateful for every gift of every size because they all play a part in building a brighter future for Texas A&M University. Aggieland thrives thanks to your time, effort, talent and resources, and we cannot wait to see the brighter tomorrow we will build together.

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