As a part of its endowment program, the university encourages interested persons to endow instructional programs. An instructional program is regarded as an endowed chair when a donor establishes a fund that yields sufficient interest to pay 100 percent of a faculty member’s salary and perquisites as defined according to the university salary schedule, and at least 75 percent of related costs, such as research, publications, and other scholarly projects.
The following guidelines apply to endowed chairs:
- Holders of endowed chairs receive salaries from the endowment according to the university pay scale, and do not receive additional stipends from the endowment, but they may have access to portions of the endowment income for research, other scholarly activities, and related costs.
- In the event of financial exigency, endowed chairs are protected, but their holders will not have special seniority based solely on their financial support.
- Faculty named to endowed chairs should be experienced and well recognized in their fields of specialty. They are subject to the same rules of promotion and seniority that apply to all faculty.
- Holders of endowed chairs may be asked to report to the Board regarding their special projects.
- The holder of an endowed chair shall carry the title of the chair, which shall be agreed upon by the endower and the university administration.