AC94 University-Named Department Head's Chairs (Formerly HR94)
Policy Steward:Vice Provost for Faculty Affairs>
POLICY'S INITIAL DATE: January 17, 1997
THIS VERSION EFFECTIVE: July 27, 2006
To outline the University's policy on University-named department head's chairs.
The designated title is ______(name of benefactor)_____, University Department Head's Chair of ________(unit)______.
To supplement University support for outstanding University faculty in order to provide a holder of the department head's chair 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 department head's chair, the benefactor directs attention to a continuing commitment to support scholarship within the University.
Appointments will be made by the dean of the appropriate college.
Funds for a University-named department head's chairs are provided by gifts or designated University funds appropriate for this purpose. To establish such a position, an endowment of not less than $3,000,000 is required and the income therefrom, to the extend necessary, shall be used to maintain the department head's chair in perpetuity. Alternatively, a University-named department head's chair 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 department head's chair 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 chair.
Proposals for the early establishment of University-named department head's chair 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 department head's chair annual gifts will required that all parties be informed that funding of the department head's chair will continue as long as resources are available.
An individual eligible for emeritus rank holding a University-Named Title will continue such title designation.