Texas Biomed is honored by the generosity of a bequest from Mr. John V. Rowan, Jr., who passed away on December 2, 2002. Mr. Rowan, who lived much of his early life in San Antonio, was the co-owner and principal of an interior design firm in New York City. John, the only son of John and Bertha Rowan, prominent San Antonians, remained tied to San Antonio through regular visits and business ties to the city. He was a member of numerous clubs including the Argyle, San Antonio Country Club, Club Giraud, as well as being a patron of Metropolitan Opera in New York and Southwest Arts and Crafts Center in San Antonio. He loved his ancestral country of Ireland, and spent time there as often as he could. He was a collector of Irish Silver, which now comprises the John V. Rowan, Jr. Silver Collection at the San Antonio Museum of Art.
Mr. Rowan, through a most generous bequest, has gifted his estate to Texas Biomed to create the Rowan Fund. This separate endowment fund will be used to enable biomedical research. Concerning the fund, Corbett Christie, Texas Biomed's Vice President said, "This gift will have the immediate effect, as do all our endowments, of our institution being able to reach beyond the norm of our day-to-day operations ... to achieve a higher level of excellence. We are here today because of the philanthropic vision of our founder, Tom Slick. Many others like Mr. Rowan share this vision and are the reason we exist. Simply put - without donations we probably wouldn't be here today. In my conversation with John Rowan, he said he simply wanted to make a difference. His gift, I assured him, would do that ... for every generation to come."
Creating an Endowment
If you would like to consider establishing an endowment fund, here are some points to ponder.a
- An Endowment is a wonderful way to enable a favorite project.
- The donor receives a tax benefit.
- An Endowment provides a lasting honor or memorial to the donor or a loved one.
- An Endowment is a great way to assure that institutions, projects or causes continue into the future.
Here's How an Endowment Works
- An endowment fund is simply the allocation of a gift to an investment fund. This fund is invested to earn income each year, which Texas Biomed uses to fund our agreed upon project.
- Historically, the principal of the endowment fund grows, and so does the income. That ever-growing income is used to support Texas Biomed.
- The principal always remains invested in order to perpetuate the fund.
The Importance of Endowment at Texas Biomed
- The financial strength of our unique scientific research institution is dependent on philanthropic support.
- Texas Biomed is devoted exclusively to basic biomedical research, which is largely supported by competitive grants and awards.
- As successful as we are, it is reality that research grants never cover the expenses of our operation. Philanthropy makes up that difference, and it's decisive in our success.
- Just as in any venture or business, research leads us into many innovative and future investment-type activities, such as new lines of research, facilities and technologies. It is donations and endowment income that generate the funding to venture and innovate in these fields.
If you are interested in more information about establishing and endowment at Texas Biomed, contact Corbett Christie, Vice President, at 258-9870.