University Concerts Inc. was incorporated as a nonprofit corporation in fall 1938, operating within the framework of the university. It had its genesis in November 1937, when opera singer Grace Moore presented a concert in Alumni Memorial Gym, sponsored by the Student-Faculty Entertainment Committee. The concert was attended by 3,911 people and was a financial and cultural success. The Student-Faculty Entertainment Committee planned a series of three concerts for 1938–39, including a performance by Lily Pons.
The tremendous response to bringing outstanding performers to the campus required a more formal business structure. University Concerts Inc. was formed to bring concerts to the campus. President Hoskins appointed the first board of directors, and the university president and academic vice president served as ex officio members of the board. Ralph Frost was the manager of the series. University Concerts Inc. was completely self-supporting and contributed to a variety of university and student activities. Curtains, lighting, and other stage equipment were purchased for the Alumni Memorial Building. All Sing, the University Singers, the UT Band, the Summer All Sing, the University Center Building Fund, the Grace Moore Scholarship Fund, and the Fine Arts Department were all recipients of donations from this source. In fact, the University Concerts Corporation contributed the first year’s salary of one of the professors in the new Fine Arts Department. The Grace Moore Scholarship fund was initiated and sustained by the University Concerts Corporation. The Concert Series was moved from the campus to the Civic Auditorium in 1961.