Dorr Fund Disburses First Monies for ScholarshipsFeb. 24, 2004
PHIL DORR ALUMNI & FRIENDS ENDOWED INVESTMENT FUND DISBURSES FIRST MONIES FOR BAYLOR SCHOLARSHIPS
BU Athletics receives $75,000 at halftime of Saturday's Lady Bear-Sooner hoop game. Additional $20,000 given for MBA scholarship.
The Baylor University Athletic Department received a $75,000 disbursement from the Phil Dorr Alumni & Friends Endowed Investment Fund during halftime of Saturday's women's basketball at the Ferrell Center between No. 19 Baylor and No. 24 Oklahoma.
"We really appreciate Phil's effort in making this project so successful," Baylor Athletics Director Ian McCaw said. "Not only does this investment fund benefit student-athletes who are business majors, but it also gives Baylor business students the chance to gain practical experience with the financial markets. The performance of the fund, given all the circumstances around the world since it began in 2000, is quite impressive."
Established in 2000 with a $250,000 endowment from alumnus Phil M. Dorr, the real equity portfolio is actively managed by select Baylor Business students and has a current market value of $5.2 million. This marks the first disbursement from the fund, which was designed to direct profits into athletic scholarships for Baylor student-athletes who are business majors in good academic standings.
"I wanted to make sure that the Baylor business school would be a place where graduating students would have doors opened to them with money management firms," said Dorr. "This real life experience allows them to have those job opportunities when they get out of school.
"At the same time, the fund provides a vehicle to support athletic scholarships," he added. "People can make their donations to this fund and see direct and ongoing results, because it is an endowed fund."
The Athletic Department will receive $75,000 to fund three scholarships. BU student-athletes who could benefit from the endowment include football's Justin Crooks, women's basketball's Stephanie Blackmon and Tommy Swanson of the men's basketball team. In addition, $20,000 is being distributed to fund one MBA scholarship.
"The investment fund is a perfect example of one of the many opportunities for Baylor business students to get real-life experience in preparation for their career," said Terry Maness, Dean of the Hankamer School of Business.