Chairs and professorships are the highest honor that can be bestowed on a faculty member. Endowing a chair is one of the most effective means of attracting and nurturing outstanding scholars. Endowed chairs and professorships are used to attract outstanding scholars and retain our own top faculty, who are often pursued by other universities.
- Chairs and professorships are almost always funded by gifts—private support—to the University. These substantial investments in CSE’s faculty reap immeasurable benefits far into the future. Endowed chairs and professorships that attract and support distinguished faculty are among the most effective and important ways you can help provide a high-quality education for our students and at the same time encourage cutting-edge research.
- CSE’s endowment is professionally managed and invested for growth through the University of Minnesota Foundation. The college’s endowment spending policy preserves and increases the value of the endowment, and a portion of the interest earned on the principal, currently 4.5%, which is used to fund the chair or professorship. By protecting the principal investment, the endowment provides support in perpetuity, which overtime, will increase as the value of the principal increases.
- A minimum of $2,000,000 is required for an endowed chair and a minimum of $1,000,000 is required for an endowed professorship.
A gift of… Provides a permanent annual faculty support of…
$1,000,000 $45,000 annual professorship stipend
$2,000,000 $90,000 annual chair stipend
- When you establish a chair or professorship in CSE, you will be invited to participate in determining the criteria for this prestigious award. For example, you may wish to consider giving preference to faculty teaching or doing research in a specific discipline. The college will be happy to assist you in deciding what the faculty qualifications should be for your chair or professorship. You will have the opportunity to name the fund in your own name, in honor or memory of someone, or in the name of your company. Most importantly, you will have the opportunity to meet the faculty recipient of your named chair or professorship, which is a meaningful occasion for faculty and donors alike.
Ways to fund an endowed chair or professorship
- An endowed chair or professorship may be funded through an outright gift to the college, paid in a lump sum or over a period of up to five years. For instance, a $1,000,000 endowment may be established through a gift of the entire amount, through five annual installments of $200,000, or through some other pledge payment plan. Given recent market fluctuations, you may wish to time your payments according to increases in the market. The college is flexible and will accommodate you in any way possible. After the endowment is established, additional gifts to the endowment may be given at any time to increase the endowment principal.
- Many donors find that it is often advantageous to make gifts of appreciated property or securities to the college By making a gift o appreciated securities, you can save income taxes twice. First, you save by receiving a charitable deduction for the current value of the stock. Second, you save by eliminating payment of capital gains tax on the stocks increased value. Please contact Kim Dockter at 612-626-9385 or email firstname.lastname@example.org for assistance with the transfer of stock.
- You may also endow a scholarship through a deferred gift, such as a bequest, life income gifts (charitable gift annuity, charitable remainder trust, etc.), life insurance, or qualified retirement plan assets.