Board of Regents Celebrates Success in Fundraising, Endowment Growth

Contact: Lori Fogleman, 254-709-5959
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During its regular May meeting, the Baylor University Board of Regents celebrated the University’s second-best fundraising year ever, a growing endowment and continued success of the Extend the Line scholarship initiative. In addition, the Board approved the University’s operating budget for 2026-27 and a new AI-related master’s degree, and elected Board and committee leadership for the upcoming year and new at-large Regents.

With financial and other headwinds impacting all higher education, the Baylor Family and other donors continued to support the University at remarkable levels. Baylor has raised more than $204 million this fiscal year to date, which will be the second-highest total in University history, eclipsing last year’s mark of $192 million.

Giving highlights for the year include a transformational $30 million gift from the Moody Foundation of Galveston, Texas, to the School of Education, which will help Baylor support scholarships, faculty research and academic programs across the University. In recognition of the gift, the School was renamed Moody School of Education, and the first Moody graduates were recognized during Baylor’s May 2026 Commencement last week.

Regents also received an update on the Extend the Line scholarship initiative, which has raised more than $112 million and established 169 new endowed student scholarships since its launch in 2025. Extend the Line is ahead of schedule to achieve its overall goal to raise $250 million by the end of 2030.

“I am deeply grateful to the Baylor Family who continues to answer the call to invest in the students, faculty and staff of our University,” President Linda A. Livingstone, Ph.D., said. “Like every other college and university in the country, Baylor is navigating a host of challenges today, but with the faithful commitment from those who believe in our Christian mission and the foundation outlined in the Baylor in Deeds strategic plan, we are well-positioned to succeed now and in the future.”

In addition to fundraising, Baylor’s endowment continues its upward trajectory. Since President Livingstone became the University’s 15th president on June 1, 2017, the value of Baylor’s endowment has more than doubled – rising from $1.2 billion to beyond $2.5 billion today. Over the past nine years, the endowment has distributed more than $700 million for scholarships, professorships, programs and general funding.

Board approves operating budget for 2026-27, M.S. in Artificial Intelligence Plus

The Board of Regents approved a $982.2 million operating budget for 2026-27, which represents a modest increase of 2.4% compared to last year. The action follows Baylor’s comprehensive, campus-wide budget assessment process that involved all units, schools, colleges and departments, including Athletics, and identified $35 million in budget reductions to be implemented over the next two years.

“This budget is responsible, strategic and in line with Baylor in Deeds, and it allows the University to stay focused on enhancing the value and affordability of a Baylor education for students and their families now and in the future,” said Board of Regents Chair William “Bill” E. Mearse, B.B.A. ’78, M.B.A. '79, of Houston. “Many sectors, including higher education, have been greatly impacted by recent financial pressures, and we must be good stewards of the resources entrusted to us by students and their families, as well as alumni and friends of Baylor, as we continue enhancing our role as a preeminent Christian research university.”

During its meeting, the Board of Regents approved a Master of Science in Artificial Intelligence Plus (MSAI+), a program that embodies both core AI technology and domain knowledge while preparing graduates to lead ethically in the digital age. At launch, the program will focus on cybersecurity and expand to new areas as the program matures. Housed in Baylor’s School of Engineering and Computer Science, the specialized MSAI+ degree is highly valued by employers in both industry and research, directly addressing the national shortage of mid- to senior-level AI specialists who possess both deep technical skills and domain-specific knowledge.

Board elects leadership, committee chairs and new at-large Regents

In regular May business, Regents elected Todd Patterson, B.S. ’90, J.D., of Richmond, Texas, as Chair of the Board, effective on June 1, 2026. Patterson, who served last year as Vice Chair, is founding partner of Patterson + Sheridan, LLP, a leading national intellectual property and complex litigation law firm headquartered in Houston. He will succeed Mearse, who is completing his third year as chair. Mearse will continue to serve on the Board until his term concludes in 2027.

“It has been a true privilege to serve as Chair of the Baylor Board of Regents alongside President Livingstone and my fellow Regents,” Chair Mearse said. “We are blessed to have leaders like Todd Patterson on the Board, and I am confident he will prayerfully lead the Board with a generosity of spirit and faithfulness.”

During Mearse’s tenure as Board Chair, Baylor successfully concluded its $1.5 billion Give Light philanthropic campaign, implemented the current strategic plan, Baylor in Deeds, and expanded the University’s longstanding motto by adding Pro Mundo (For the World) to Pro Ecclesia, Pro Texana (For Church, For Texas).

“Bill’s steady, servant-hearted leadership has helped guide Baylor through a period of significant economic and higher ed challenges with clarity and strength.” President Livingstone said. “I’m thankful he will continue his service on the Board for another year, and I look forward to working with incoming Chair Todd Patterson, whose experience and deep commitment to Baylor will serve the University well in the years ahead.”

In addition to Patterson, Jack F. Harper II, B.B.A. ’93, of Midland, Texas, was elected as Vice Chair. A member of the Board of Regents since 2022, Harper is a partner and co-founder of Hedloc Investment Co., and most recently he served as chair of the Nominating, Governance and Regent Leadership Committee.

The Board also approved committee chairs, who will serve on the Executive Committee, and committee vice chairs for 2026-27.

Elected as committee chairs and vice chairs:

• Academic Affairs – Michael Heiskell, B.A. ’72, J.D. ’74, of Fort Worth, Chair, and D. Diane Dillard, B.A. ’76, J.D. ’79 of Houston, Vice Chair;
• Advancement – Ashley Beane Hooper, B.B.A. ’03, of Dallas, Chair, and Tyler C. Cooper, B.B.A. ’94, M.D., of Dallas, Vice Chair;
• Audit, Compliance and Risk Management – Sarah Gahm, B.S. ’84, M.H.A., of Dallas, Chair, and Carey P. Hendrickson, B.B.A. ’85, M.B.A., of Arlington, Texas, Vice Chair;
• Finance and Facilities – Jay A. Brown, B.B.A. ’95, of Houston, Chair, and Kyle Deaver, B.B.A. ’86, J.D. ’93, of Waco, Texas, Vice Chair;
• Nominating, Governance and Regent Leadership – David R. Brooks, B.B.A. ’80, M.B.A. ’81, of McKinney, Texas, Chair, and Martha Delehanty, B.S., M.B.A., of Jupiter, Florida, Vice Chair;
• Student Life – René Maciel, M.S.Ed. ’91, of McGregor, Texas, Chair, and Angelique Banket Cunningham, B.B.A. ’00, of Austin, Vice Chair; and
• University Leadership and Compensation – Gail W. Stewart, B.B.A. ’80, J.D. ’83, of Houston, Chair, and Charles Williams, M.O.T., M.B.A., of Mansfield, Texas, Vice Chair.

Elected as new at-large Regents:

• Elizabeth Carlyle, B.B.A. ’92, J.D. ’95, of Houston, CEO of First Freedom Art Co., a private art collection of Arnold Friberg, R.S.A., one of the most iconic artists of the 20th century. She serves on the advisory board of the Hankamer School of Business;
• J. Bradley Creed, B.B.A. ’79, M.Div., Ph.D., of Buies Creek, N.C., retired president of Campbell University, former provost and executive vice president of Samford University and past dean of Baylor’s George W. Truett Theological Seminary; and
• Carlos Ramón, B.S. ’90, of Nashville, Tennessee, president of the Americas and global expansion with Veriforce, founder and non-executive chairman of Uniply and executive advisor with Riverwood Capital. Ramón serves on the President’s Leadership Council and on the advisory board of the School of Engineering and Computer Science.

Re-elected by the Board to three-year terms:

• David R. Brooks, B.B.A. ’80, M.B.A. ’81, of McKinney, Texas – second term;
• Angelique Banket Cunningham, B.B.A. ’00, of Austin – second term;
• Martha Delehanty, B.S., M.B.A., of Jupiter, Florida – second term;
• Carey P. Hendrickson, B.B.A. ’85, M.B.A., of Arlington, Texas – second term, BGCT Regent; and
• Todd Patterson, B.S. ’90, J.D., of Richmond, Texas – third term.

Approved by the Board as Faculty and Student Regents:

• Chris Hansen, M.F.A., professor and chair of the Department of Film & Digital Media – three-year term as Faculty Regent;
• Spencer Yim, senior University Scholar from Connecticut – second-term, voting Student Regent; and
• Mary Freiner, B.A., M.A., graduate student (M.A. in Christian Ministry) at Truett Seminary from Washington, D.C. – first-term, non-voting Student Regent.

Affirmed by the Board in February as Alumni-elected Regent:

• Susan “Suzii” Youngblood March, B.A. ’72, of Kerrville, Texas – three-year term.

All terms begin on June 1, 2026.

Regents completing their service on the Board are Student Regent Meghan Fletcher, B.S.F.C.S. ’20, M.S.Ed. ’22, doctoral candidate, of Lawrence, Kansas; Paula R. Hurd, B.B.A., of Atherton, California; Jill Manning, B.B.A. ’84, of Dallas; Faculty Regent Lesley McAllister, D.M.A.; Melissa Purdy Mines, B.A. ’90, of Munich, Germany; Alicia D.H. Monroe, M.D., of Missouri City, Texas; and Steve Wells, B.A. ’90, M.Div. ’97, D.Min. ’03, of Houston.

“As we welcome new Regents, we are deeply appreciative of our Board members who are completing their terms. On behalf of the Board, I express my gratitude for their tireless and faithful service to Baylor University,” Chair Mearse said. “It has been an honor and privilege to serve alongside them in the fulfillment of Baylor’s Christian mission and the strengthening of the University’s influence around the world.”

President’s report

In her regular report to the Board, President Livingstone reflected on several successes from the past academic year, including student commissioning ceremonies for mission trip and summer camp participants and FM72 – the three-day prayer vigil and worship service held in the center of campus on Fountain Mall in collaboration with local churches and student ministries. President Livingstone also highlighted Baylor’s 11th straight NCATA National Championship in Acrobatics & Tumbling. 

She reminded the Board that Tanya M. Sudia, Ph.D., R.N., FNAP, FAAN, Interim Dean, Chief Nursing Officer and professor at the University of Texas at Arlington College of Nursing and Health Innovation, will become Dean of Baylor’s Louise Herrington School of Nursing in Dallas on June 1, and James R. Brockmole, Ph.D., professor and chair of the Department of Psychology at the University of Notre Dame, will become Dean of Baylor’s College of Arts & Sciences on July 1.

Finally, President Livingstone joined with Chair Mearse to present a special resolution to Vice President and Provost Nancy Brickhouse, Ph.D., B.S. ’82, officially recognizing her achievements and contributions to the University. In April, Provost Brickhouse announced she will step down from her position, effective July 31, 2026, and after a year-long sabbatical return to the faculty to focus on teaching and investing in students. 

ABOUT BAYLOR UNIVERSITY

Baylor University is a private Christian University and a nationally ranked Research 1 institution. The University provides a vibrant campus community for 20,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 100 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. Learn more about Baylor University at www.baylor.edu.