University of Florida manages an endowment fund based in Gainesville, Florida. Established in 1853, the university's endowment is managed through the University of Florida Investment Corporation (UFICO) which was created in 2004 to manage University of Florida's investment portfolio. UFICO manages the University of Florida Foundation, University of Florida Research Foundation, University of Florida Athletic Association, Shands Teaching Hospital and Clinics at the University of Florida. UFICO is managed by the board of directors and an executive staff.