The University of Texas Investment Management Company (UTIMCO), a non-profit entity staffed with finance professionals who manage the institutions’ investments. The interest generated by that investment is used for Kim’s Fund. The endowment has managed to increase its value and to provide a predictable, stable stream of income over time.
There are three parts to Kim’s Fund:
- Leukemia research: One part consists of endowed funds for leukemia research. All earnings from this fund go to research.
- Patient assistance: A second part consists of the endowed funds for patient assistance, and all earnings go for this purpose.
- Special projects: A third part consists of funds where at times a sum larger than the earnings of the endowed funds is needed for a meaningful effect. For example, in May of 2007, Kim’s Fund contributed $19,655.00 to the Joe Moakley Leukemia Specialized Program of Research Excellence (SPORE) Grant awarded to M. D. Anderson Cancer Center by the National Cancer Institute to develop therapies that improve the outlook for leukemia patients.
When M. D. Anderson receives a prestigious SPORE grant, the institution commits to raise philanthropic funds to extend the scope of the SPORE for two purposes: to provide seed money for early-stage research and to support career development for the most promising of the new generation of researchers in that area. The funds have been put to good use in clinical investigations and research.