Just a little talk about this "Endowment" figure. The MTSU foundation was $75 million +/-a dozen or so years ago IIRC. Without someone absconding with the money, very poor management, or a severe economic downturn it should always be growing. If a person establishes a scholarship, for example, the money is invested and only the proceeds (profits) from the investment are used for the scholarship and excess $$$s above the stated objective are invested back in the endowment. I am extremely discouraged to hear the endowment is only $57 million, especially considering the 100th anniversary fund raising promotion a few years back which was expected to raise $100 million, a large portion of which was I thought going to the endowment.
I donate a small amount to the MTSU Foundation each year and it is my expectation (hope I won't be proven wrong) that this annual giving is invested with the principal never used and only the proceeds being used in perpetuity. This would be my expectation if I endowed a scholarship with whatever the amount required to fund such a scholarship is or if I left a legacy donation in my will, not that I can afford to do either.
I could be wrong but it is my understanding that at most schools many, if not all, athletic scholarships are funded by having scholarships set up by donations, freeing up athletic dept. $$$s from the burden of paying for those athletes' tuition, room and board, etc.
All that said, I once saw that when compared to two similar type (state funded regional) schools: TTU and WKU, our foundation endowment was poor in comparison, both in endowment size and % of alumni who give. This is a real issue for those of us who care about The University and is much more important than the upcoming FB season record or anything else we enjoy posting about on sports-related social media. It's really a poor reflection on our alumni. (I have to say that I thought giving to your college/university was expected as I was aware early on that both my parents and several other relatives gave annually, even if only a few $$$ a year). If you are an alumni I would encourage you to donate annually to The Foundation, even is only $10.00 a year, along with whatever else you do for the school.