The NIADA Foundation, which for years has invested in education through its scholarship program, is taking that investment to another level, according to an announcement from the National Independent Automobile Dealers Association.

Officials said on Thursday that the foundation’s board of trustees has authorized the creation of an endowment to fund scholarships for students at the University of Texas at Arlington’s College of Business who have shown an interest in a career in the automotive industry.

The NIADA Foundation Endowment was created with an initial gift of $25,000, which will be followed by four more annual donations. The university will match the donations dollar for dollar until the endowment is fully funded at $250,000.

The endowment fund is managed by the University of Texas Investment Management Company, which oversees investments for the University of Texas and Texas A&M systems and has more than $37 billion under management. UTIMCO was created in 1996 as the first external investment corporation formed by a public university system.

The initial scholarships from the endowment are expected to be awarded for the 2017-18 academic year.

“This gift to UT Arlington provides the foundation of support that is invaluable to our students,” university president Vistasp Karbhari said.

“Through its commitment to the NIADA Endowment and the marketing department in our College of Business, the NIADA Foundation is ensuring that UT Arlington continues on its path toward becoming the model 21st century urban research university,” Karbhari continued.

The NIADA Foundation was created by the National Independent Automobile Dealers Association in 2006 to promote academic and educational advancement through scholarships and other programs, and to carry out NIADA’s commitment to charitable giving and provide training and educational opportunities to auto dealers and the general public.

UT Arlington, located minutes from NIADA’s headquarters, boasts an enrollment of more than 57,000 students and is one of the largest campuses in the University of Texas system. The Chronicle of Higher Education recently named UT Arlington one of the fastest growing public research universities in the nation.

“This is a great opportunity to invest in the future of the automotive industry by supporting some of the best business-minded students at UTA who want to pursue a career in the automotive industry,” NIADA Foundation president Steve Jordan said.

“I’m excited to see how these investments will affect the future for our industry, here at home and, eventually, around the country,” Jordan continued.

NIADA Foundation chairman Henry Mullinax said the UTA endowment is the first of what the board hopes will be many.

“Our dream is to partner with the best universities across the nation and establish similar endowments that are easily accessed by all who share our love and concern for the automotive industry,” he said.

The endowment can be increased through additional funds. For more information or to contribute, visit www.niadafoundation.org. All donations are tax deductible, but NIADA recommended that dealers consult their tax attorney or accountant for details.