UNC Supporter Starts Football Endowment

The Joe Maddux Endowment was created in honor of Greensboro's Joe Maddux, a 1952 graduate of the University and an avid supporter of Tar Heel football.

Bunting is also the first coach in the ACC to receive such an endowment.

However, this is not a new idea. Similar programs exist in other conferences, such as the Big Ten and the Ivy League.

The UNC Educational Foundation proposed the idea for the endowment, which was formally announced in July and already has received $500,000 in pledges from friends and family of Maddux.

John Montgomery, president of the Educational Foundation, said he intends to continue raising funds for the endowment until the foundation reaches its goal of $1 million, which could happen in the next six months.

"Mr. Maddux is so special to the program and a big supporter of John Bunting," Montgomery said. "This couldn't have come at a better time."

Bunting said he has gotten to know Maddux well recently because Maddux has attended a number of events, fund-raisers and both of his signing parties.

"He is a huge supporter of Carolina football, and I am extremely honored to have this endowment in our name," Bunting said. "His extended family is definitely Carolina football."

The money for the endowment is not yet in place because donors usually have between three to five years to pay off their pledges. Montgomery said he intends to have the endowment fully funded within five years.

The interest earned from the endowment will go toward salary increases, program development and operating expenses for the football team.

"The endowment will support the program forever," Montgomery said.

Bunting added that this endowment gives him a lot of flexibility. "It means that in times of number-crunching and budget problems, we can get some things, like new programs and facilities, without having a big fund-raiser," he said. "We could possibly use it to retain a coach."

In addition to the endowment, the Charlie Justice Era team made a $1 million pledge to UNC football last November. Justice was a tailback for UNC from 1946-49 and led the team to two appearances at the Sugar Bowl and one at the Cotton Bowl.

The Justice Era Endowment is meant to benefit the entire football program.

Director of Athletics Dick Baddour said, "The Joe Maddux Endowment is a portion of the major endowment for football."

The entire football endowment already is up to $1.5 million.

Following the football program's recent success, a campaign is being designed to create endowments for all UNC sports. "What we're trying to do ... is to endow all of our sports programs," Baddour said.

He said that although an endowment would not cover all expenses, it would secure the sports programs in the future.

So far, the athletics department has received major contributions and pledges for baseball, men and women's tennis, swimming and golf. There is also potential for a major pledge in wrestling, Baddour said.

"Endowments will help maintain competitive levels in all areas, such as recruiting, maintenance, travel and general operational procedures," he said.

The University Editor can be reached at udesk@unc.edu.