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Higher Education | Facility Buildout
Flexible Financing Scores Big On (and Off) the Field
Fast Facts
Bringing Football to Campus Also Brings Financial Hurdles
Houston Christian University (HCU), a small liberal arts college, wanted to bring football to their campus as a next step in their long-term growth plan. They began construction on a football field but needed a way to pay for the project’s next phase—stadium seating for students, faculty, staff, and alumni. While HCU successfully raised enough funds to cover this important second phase, the donations were pledged over the course of 5-7 years, far past the university’s timeline. Faced with this financial hurdle, HCU sought a way to accelerate their project and stay on schedule for football’s kickoff season in the fall.
“We had the debt capacity to be able to put the field in, but the field only answered part of the problem. We had to find a way to be able to provide seating for our students, our faculty, our staff, and our alumni.”
– Loree Watson, Associate V.P. Financial Operations, Houston Christian University
“First American worked with us to create a flexible lease document so that we could schedule payments tied to when those pledge payments were scheduled to be received.”
– Sandy Mooney, V.P. Financial Operations, Houston Christian University
Donation Alignment Empowers University Growth
To find funding that fit their timing needs, Houston Christian University turned to First American. After reviewing the pledge schedule, First American provided HCU with a custom financing solution that aligned the incoming donor pledges to cash outflows for the lease payments. This structure allowed the university to realize the immediate benefit of monetizing their donations and get started on their stadium seating. Plus, it opened opportunities to utilize working capital for other investments and programmatic goals on campus.
Bringing Football to Campus Also Brings Financial Hurdles
Houston Christian University (HCU), a small liberal arts college, wanted to bring football to their campus as a next step in their long-term growth plan. They began construction on a football field but needed a way to pay for the project’s next phase—stadium seating for students, faculty, staff, and alumni. While HCU successfully raised enough funds to cover this important second phase, the donations were pledged over the course of 5-7 years, far past the university’s timeline. Faced with this financial hurdle, HCU sought a way to accelerate their project and stay on schedule for football’s kickoff season in the fall.
“We had the debt capacity to be able to put the field in, but the field only answered part of the problem. We had to find a way to be able to provide seating for our students, our faculty, our staff, and our alumni.”
– Loree Watson, Associate V.P. Financial Operations, Houston Christian University
Donation Alignment Empowers University Growth
To find funding that fit their timing needs, Houston Christian University turned to First American. After reviewing the pledge schedule, First American provided HCU with a custom financing solution that aligned the incoming donor pledges to cash outflows for the lease payments. This structure allowed the university to realize the immediate benefit of monetizing their donations and get started on their stadium seating. Plus, it opened opportunities to utilize working capital for other investments and programmatic goals on campus.
“First American worked with us to create a flexible lease document so that we could schedule payments tied to when those pledge payments were scheduled to be received.”
– Sandy Mooney, V.P. Financial Operations, Houston Christian University
New Seating on Game Day Draws in Thousands
As a result of the custom financing solution, Houston Christian University kept to their tight schedule and completed the stadium and seating renovations in time for game day. In total, the project brought over 5,000 students, faculty, staff, and alumni to the campus to enjoy the first-ever football season at HCU. This newfound energy reinvigorated student and alumni engagement, marking a new chapter in the campus’ athletic journey and future success of the school.
“It has been very transformational for us, and I look forward to all the creative ways that First American can help us with future opportunities.”
– Sandy Mooney, V.P. Financial Operations, Houston Christian University
Other Relevant Case Studies
Financing for What's Next
What could you do with more funding?
From capital projects to equipment purchases, learn how First American can help fund your organization's needs.