The University of Texas Law School Foundation was founded in 1952 through the foresight and efforts of Charles I. Francis, Sylvan Lang, Angus G. Wynne, Hines Baker, Dan Moody, Robert E. Hardwick, and Hugh Lamar Stone. These visionary lawyers recognized the critical need for private support in order for the Law School to achieve its full potential. The charge of the Law School Foundation was, as it remains today, to further legal education, legal research, financial assistance to deserving students, and the overall mission of the Law School.
The Foundation Board of Trustees oversees the management of its invested endowed funds for the benefit of the Law School. The Foundation retains professional financial advisors and asset managers. A standing Investment Committee works with the Foundation's selected professionals to monitor its assets and report to the Board of Trustees. As of the 2013 fiscal year-end, the Foundation's in-hand and receivable assets exceeded $160 million. The Board also works in cooperation with The University of Texas Development Board and The University of Texas System for the advancement of the general welfare of the University of Texas.
An additional endowed fund, The John Charles Townes Foundation, is administered by the University of Texas for the benefit of the Law School. The fund's assets, along with other University assets, are managed by The University of Texas Investment Management Company (UTIMCO).
By agreement with The University of Texas, The Foundation's office is located in the Law School and from time to time it employs the services of Law School staff for which it reimburses the Law School. The Foundation employs its own Chief Financial Officer.