The Louisiana Tech University Foundation

The Louisiana Tech University Foundation has enjoyed a distinguished history since its founding on October 1, 1962. The first name of the Foundation was "The Louisiana Tech Alumni Foundation," and on August 31, 1987, the Board of Directors adopted a resolution that changed the name to "The Louisiana Tech University Foundation."

The Foundation was first formed "To promote the educational and cultural welfare of Louisiana Polytechnic Institute and all departments thereof, and to develop, expand, and improve the College's facilities so as to provide broader educational advantages and opportunities, encourage research and increase the College's usefulness to the citizens of Louisiana and the United States of America." The original purpose of the Foundation continues into the 21st Century and has been expanded into the Foundation's mission statement and operating practices.

The Louisiana Tech University Foundation serves a large number of objectives in support of the university, and five purposes shape its core values and missions. These basic values and purposes are the following:

• to secure private gifts as a resource distinct from state and institutional resources;
• to enlist and use key volunteers in development endeavors on behalf of the institution;
• to engage prospective donors in the university's dreams and aspirations, and steward their investments of time and money;
• to provide a vehicle for important university activities, ventures, and service, such as acquiring real estate by gift or purchase that the university cannot pursue (at least not in a timely manner) because of statutory or regulatory restrictions; and
• to strengthen the university's public image and create an environment conducive to financial support.

From its modest beginning in 1962, the assets of the Foundation had grown to $1.5 million in 1987. The net assets of the Foundation at the end of the 2001 fiscal year exceeded $42 million. This includes the management of 9 Eminent Scholar Chairs and 89 Endowed Professorships. (As of 8/01)

The Engineering and Science Foundation, which actually pre-dated the formation of the University Foundation, functions under the umbrella of the University Foundation but retains its own Board of Directors; assets of the Engineering and Science Foundation are included in the assets of Foundation but are accounted for and invested separately.

In 1999, the Board of Directors of the Louisiana Tech University Foundation approved the formation of the Research Foundation which will also have a Board of Directors of its own but will function under the broader umbrella of the University Foundation.