AC81 University-Named Professorships (Formerly HR81)
Policy Steward:Vice Provost for Faculty Affairs>
POLICY'S INITIAL DATE: October 1, 1974
THIS VERSION EFFECTIVE: December 10, 2008
To outline the University's policy on University-named professorships.
The designated title is ( name of benefactor ), University Professor, University Research Professor, or University Librarianship, in ( field ).
To supplement departmental support for outstanding University faculty in order to provide a holder of the professorship with the resources necessary to continue and further the scholar's contributions to teaching, research, and public service. The support monies will be used for such purposes as salary supplementation, graduate assistant stipends, secretarial assistance, and travel expenses, etc. By supporting the establishment of a University-named professorship, the benefactor directs attention to a continuing commitment to support scholarship within the University.
The holder of a University-named professorship must be a full-time member of the University faculty, or a visiting faculty member, with the academic rank of professor, research professor, or librarian. The term of the appointment shall be determined by the Executive Vice President and Provost of the University upon recommendation of the dean of the appropriate college, consistent with the conditions of the grant.
Appointments will be made by the Executive Vice President and Provost of the University upon recommendation of the dean of the appropriate college.
Funds for a University-named professorship are provided by gifts or designated University funds appropriate for this purpose. To establish such a position, an endowment of not less than $1,000,000 is required and the income therefrom, to the extent necessary, shall be used to maintain the professorship in perpetuity. Alternatively, a University professorship may be established for a fixed period of time by an expendable grant of not less than 5 percent of the minimum required endowment per year for a minimum of 5 years.
In certain cases, the agreement reached with a major donor regarding the support of a University-named 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 professorship.
Proposals for the early establishment of University-named professorships will be reviewed and approved by the Executive Vice President and Provost of the University. The following general guidelines will apply:
- The agreement reached with the donor must be of an irrevocable nature -- charitable remainder trust, charitable gift annuity, estate note, etc.
- 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.
- Activation of a professorship through annual gifts will require that all parties be informed that funding of the professorship will continue as long as resources are available.
An individual eligible for emeritus rank holding a University-Named Title will continue such title designation.
Other Policies in this manual may also apply, especially;
FN03 - Substantiation, Disclosure, and Accountability for the Receipt of Contributions from Non-Governmental Sources, and the related Guideline,
FNG01 - Flow and Accountability of Gifts and Grants from Non-Governmental Sources.
(Revised endowment minimum)