Building the Financial Foundation
II. JUDICIOUS STEWARDSHIP
Act of Determination 6 -- Endowing Existing Professorships
Currently Arts & Sciences has 22 partially endowed professorships. Interest earnings from the principal of these endowments are not sufficient to fund fully an existing faculty member for most of these professorships/chairs. However, four currently are endowed to at least $1 million.
- By Spring 2015 the Dean, in consultation with department chairs, will appoint four faculty to existing professorships/chairs, each endowed to at least $1 million but not assigned to any current faculty members. This will provide discretionary monies for faculty and help relieve pressures from departmental operational budgets.
- By Fall 2015 the Dean’s Office will determine whether to remove, combine, or enhance the remaining partially endowed professorships/chairs in accordance with donor agreements.