AC77 University-Named Career Development Professorships (Formerly HR77)

POLICY'S INITIAL DATE: May 15, 1998

THIS VERSION EFFECTIVE: December 10, 2008

PURPOSE:

To outline the University's policy on University-named career development professorships.

DESIGNATED TITLE:

The designated title is (name of benefactor) Career Development Professor.

PURPOSE OF APPOINTMENT:

To supplement departmental support for outstanding University faculty in order to provide a holder of the career development professorship with critical financial support and encouragement for faculty starting an academic career. In addition to recognizing current achievements, career development professorships demonstrate a belief in potential by allowing young faculty to direct initial energies to the classroom, establishing a commitment to teaching; provide start-up funds for new areas of research and teaching laboratories; and offer early recognition for outstanding accomplishments. The monies provided will be used for, but not necessarily limited to, such support services as salary supplementation, research expenses, education and travel expenses, graduate assistants' salaries, and support services for the holder or the holder's program.

QUALIFICATIONS AND LENGTH OF APPOINTMENT:

The holder of this career development professorship must be a full-time or visiting faculty member with the academic rank of assistant professor or higher. The term of the appointment shall be three years and may be renewed.

RESPONSIBILITY FOR APPOINTMENT:

Appointments will be made by the Executive Vice President and Provost of the University upon recommendation of the dean of the appropriate college.

SOURCE OF FUNDS:

Funds for a University-named career development professorship are provided by gifts or designated University funds appropriated for this purpose. To establish such a position, an endowment of not less than $500,000 is required.

EARLY ACTIVATION:

In certain cases, the agreement reached with a major donor regarding the support of a University-named career development professorship may specify that the University will not receive the endowment funding for several years. So that the donor may begin seeing the results of the gift at an earlier time, consideration will be given to the possibility of immediately activating the career development professorship.

Proposals for the early establishment of University-named career development professorships will be reviewed and approved by the Executive Vice President and Provost of the University. The following general guidelines will apply:

1. The agreement reached with the donor must be of an irrevocable nature -- charitable remainder trust, charitable gift annuity, estate note, etc.
   
    
2. In cases where approval has been received, the donor must commit through a multi-year pledge of 5 percent of the minimum required endowment per year until the endowment income becomes available. A term of at least five years is preferred.
   
    
3. Activation of professorship through annual gifts will require that all parties be informed that funding of the professorship will continue as long as resources are available.