Utah Valley University
Policies and Procedures
|Title||Endowed Chairs and Professorships||Number||634|
|Section||Academics||Approval Date||Jun 25,2002|
|Subsection||Faculty||Effective Date||Jun 25,2002|
Attracting and retaining world class faculty is critical to the quality of the educational experience provided by any post-secondary institution. One way to accomplish this objective is through the establishment of chairs and professorships. There is no greater honor that a distinguished faculty member can achieve than to be invited to hold an endowed chair or professorship.
- An endowed chair is a permanently funded faculty position which provides full salary and benefits plus financial support for teaching and scholarly activities. An endowed chair requires an endowment of sufficient magnitude to provide the financial requirements of the chair in perpetuity.
- An endowed professorship is a stipend given to a faculty member to supplement the basic salary and provide financial support for professional and scholarly endeavors. An endowed professorship can be funded annually for a specific period of time or in perpetuity through the establishment of an endowment.
- An endowed chair or professorship may be named in honor of the donor or honoree proposed by the donor following the guidelines specified in the Named Gift Policy.
- Establishment of an endowed chair or professorship is subject to approval by the President, Vice President of Academic Affairs and the Dean.
- The subject area of the endowed chair or professorship must be consistent with the mission and the academic plan of the institution and school.
- The Dean and Department Chair will develop a memorandum of agreement with the donor outlining:
- The criteria for awarding the endowed chair or professorship,
- the amount allocated for salary and scholarly work,
- the period of time of the award, and
- the performance expectations which may include: publications, public lectures, an annual report to the Dean, etc.
- The endowed chair or professorship will be awarded by the Dean in consultation with the Department Chair and donor. When an external search for an endowed chair is undertaken, the established institution procedures for hiring will be followed.
- The minimum amount required to establish an endowed chair is $2,000,000.
- The minimum amount required to establish an endowed professorship is an annual gift of $10,000 or an endowed gift of $200,000.