- A TDA Advisory Committee appointed by TDA President, Kennon Moffitt, met to elect officers to establish the TDA Foundation.
- Prior to that time, the TDA had a scholarship committee, which awarded scholarships in Texas. The TDA was interested in establishing the TDA Foundation for several reasons:
- TDA needed to separate TDA administrative money from donations for scholarships. IRS regulations “encouraged” a separate organization for that purpose so that contributions could be tax deductible.
- TDA wanted to model itself after the ADA, which had formed the ADA Foundation as a separate organization.