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While the vast majority of the endowments that support the UT System are held by the System, between 10 and 15 percent are held by other institutions for the System’s benefit. The UT Foundation holds some of these, one of which was given with certain restrictions that, as a state agency, The University of Texas could not hold. As the Foundation is not a state agency, it has more flexibility and is able to hold this endowment, administer it in accordance with the restriction and thereby benefit a program at one of UT’s campuses.
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