Board of Directors
  Investment Policy
  Spending Policy


ALUMNI  |  FOUNDATION  |  TJC  

Spending Policy

Texas community colleges have sustained significant cuts in state appropriations during the 2003 legislative session. Tyler Junior College is no longer considered a "state-supported" institution but is in fact a "state-assisted" institution. For example, more than 50% of TJC's budget in the late '90's was funded by the state; however, today state funding accounts for less than 40%.

The importance of private gifts to Tyler Junior College's future is increasing each year. Like many other publicly supported institutions in Texas, the margin of excellence in our activities is dependent upon endowment gifts. TJC must have adequate endowment resources to ensure the best faculty, the brightest students and the most responsive programming. A solid and stable endowment base can transform an adequate community college into the very best in the nation.

In an effort to strengthen endowment funds and provide long-term growth for the benefit of the college, the Tyler Junior College Foundation must continue to manage its assets and review its spending policy. The Foundation is committed to doing all that it can to ensure, in perpetuity, a reliable and secure source of funds for TJC's programs and priorities.

  • A spending "cap" of 4% and a "floor" of 0% shall be required on all spending policies adopted by the Tyler Junior College Foundation Board of Directors.
  • By March 1st of each year, the Tyler Junior College Foundation Board of Directors shall adopt a spending policy payout rate effective for the following academic year beginning September 1st through August 31st.
  • All foundation endowment accounts will follow the investment policy and spending policy in effect regardless of the date of its establishment. Any exceptions to this policy must be included in specific endowment agreements approved and accepted by the President of Tyler Junior College and the Executive Director of the Tyler Junior College Foundation.
  • At no time shall the corpus of an endowed fund be spent. The corpus is defined as that amount originally gifted to the foundation by a donor, and excludes any interest, dividends, or appreciation of the originally gifted amount.