Inspiring a Higher Standard

As we look back at major achievements in 2023, we remain committed to providing sustainable funding that contributes to the advancement of academic medicine. With this in mind, we are also forward-looking to the needs of North Texas amid its growing population.

2023: A Year of Growth and Transition

It is with heartfelt appreciation that we extend our gratitude for the continued financial support and profound community engagement offered by our Board of Trustees, donors, partners, and friends. These bold commitments are the cornerstone of our success.

2023 was a year of significant milestones for Southwestern Medical Foundation. We thanked outgoing President and CEO Kathleen Gibson for her 11 years of service and outgoing Senior Vice President and CFO Kay Schlankey for 16 dedicated years. On behalf of North Texas, these two remarkable leaders strategically nurtured our organization through a period of significant growth. Alongside these leadership transitions, we expanded the physical footprint of our Foundation offices and added four new team members to strategically bolster our operations.

We welcomed six distinguished members of the North Texas community to our Board of Trustees: Tucker Bridwell, Ken Hersh, Dr. Joan Buchanan Hill, Chris Kleinert, Marshall Payne, and Jennifer Scripps. Their unique experiences and leadership expertise guide our mission and impact forward.

We were honored to be named an “Organization of the Year” finalist for DCEO’s Nonprofit and Corporate Citizenship Awards, which is a testament to multiple generations of tremendous and unwavering support from across our region.

The momentum of The Cary Council continues to increase. We are delighted to share that, to date, the 18 UT Southwestern investigators who received The Cary Council’s Early-Stage Research Grants have secured more than $15 million in follow-on funding across several important areas including breast cancer, brain cancer, genomic technologies, infectious disease, and pediatrics.

As we set our gaze on the community’s future health needs, we are inspired by the promise of tomorrow. Together, we will continue to pursue a higher standard for medical research, education, and patient care.

Photo of Michael McMahan
Signature of Michael McMahan Michael McMahan President & CEO
Photo of Sarah Fletcher
Signature of Sarah Fletcher Sarah Fletcher CFO

Future-Proofing the Health of North Texas

In 2023, Dallas-Fort Worth was the fastest-growing metropolitan area in the nation, adding approximately 418 residents each day. The region surpassed 8 million total residents, with significant continued growth projected over the next several years.

Giving Growth
to Support Population Growth

As the population increases, so does the need for leading-edge research, medical education, and compassionate care. Consistent, sustainable funding helps develop infrastructure, recruit top talent, and foster innovation that is essential for enhancing patient care and meeting the evolving health needs of our region’s burgeoning population.

Projected Population Growth of North Texas Compared to Chicago and Houston Areas

8M 7M
7.8 M
8.6 M
7.1 M
9.1 M
9.1 M
8.3 M
10.7 M
9.7 M
9.6 M
North Texas
Projected growth provided by the North Central Texas Council of Governments.
Chicago Metropolitan Area
Projected growth provided by the Chicago Metropolitan Agency for Planning.
Houston-Galveston Area
Projected growth provided by the Houston-Galveston Area Council.

2023 Success Stories

In 2023, our partners saw incredible successes across each of our three funding categories: medical discovery, education, and patient care. These success stories were made possible by the gifts of donors like you. Discover some of the highlights from this past year and see how your generosity created impact.

Our Financial Report

Since inception, generous hearts in our region have invested more than $1 billion in gifts to Southwestern Medical Foundation. We have funded more than $900 million in grants, and through strategic oversight and stewardship we hold more than $1.1 billion in pooled assets. Your partnership with the Foundation creates meaningful and lasting impact in advancing progress in medicine.

Financials as of 3/31/2024.

Since inception, we have received gifts totaling


We hold pooled assets of


We have awarded grants totaling


Here’s What Our Endowed Funds Support

Endowed giving signals a belief in what’s possible. Southwestern Medical Foundation proudly manages more than 550 endowed funds, ensuring long term financial support for the infrastructure, programs, and talent required to drive positive change in medicine.

206 Chairs & Professorships

162 Research Centers & Programs

82 Student Benefits

52 Special Programs & Projects

69 Board Designated

571 Endowed Funds

Endowed chairs and professorships are differentiators for attracting and retaining leading talent. With steady funding, innovators are encouraged to pursue ambitious projects that might not otherwise be feasible.
Endowed support for a center or its programs sustains what’s needed to make life-changing medical breakthroughs and discoveries.
These funds provide financial support and inspiration for bright young minds to boldly pursue their futures.
When a donor places their trust in our mission, the intent behind their investment is honored in perpetuity. We are honored to manage 52 funds across a variety of fields that are driving medical progress forward.
Southwestern Medical Foundation’s Board of Trustees maintains strength in support for initiatives that lead medical progress forward, both at UT Southwestern and for other beneficiaries.

Investing for a Healthy Future

We believe that sustainable funding is critical to medical progress and work closely with our Board of Trustees and financial partners to strategically manage a portfolio that is built to weather market volatility.

$500M $0M
SWMF Portfolio
Broad Policy
Consumer Price Index + 5%
Broad Policy Index is comprised of public market weighted indices that attempt to mirror the Foundation’s target weighted diversified portfolio by broad asset class.

Trusted by Charity Watchdogs

The Foundation continually upholds best-in-class practices to ensure gifts are stewarded to maximize impact. We continue to achieve top ratings with the most prominent charity watchdogs in the nonprofit industry.

Thank You to Our Donors

We are deeply grateful for all gifts made by our generous community in 2023. Here are some of the exceptional builders and innovators who drove our mission forward last year.

Estate of Martha Esther Burt Averyt

Benefiting the Averyt Fund for Clinical and Anatomical Pathology

Kathryn & Tim Eller

Endowed and current purpose giving for research at the Center for Depression Research and Clinical Care to identify biomarkers for the treatment of depression

McKesson Foundation

McKesson Foundation Fund for UT Southwestern Student-Run Free Clinics

Lupe Murchison Foundation

With matching funds from Southwestern Medical Foundation, benefiting The Lupe Murchison Endowed Fund for Brain Research

Thank You to Our Partners

Our partners generously provide their expertise to bolster our organization and help our operations run smoothly. We appreciate your continued support in 2023.

Financial Partners
Bank of America
Fund Evaluation Group
Hilltop Securities
JP Morgan
Northern Trust

Hunton Andrews Kurth LLP

Audit & Risk
Marsh McLennan
Whitley Penn

Event Production
Brigade Events

Human Resources
People Performance Resources

Information Technology & Cybersecurity
NCC Data

Public Relations, Communications
& Creative Services
Casual Astronaut
O&H Brand Design

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