Endowed Chair Policy

Purpose

This policy statement codifies recent practices and new policies for named professorships (e.g., endowed chairs and distinguished professorships) in the College of Arts and Science. The goals of this policy are to provide clarity on and ensure consistency in the perquisites associated with named professorships and to steward the college’s resources responsibly.

Provisions

1. A named professorship is an honorific title, not a rank.
2. Consistent with university policy, named professorships are awarded for seven-year renewable
   terms.
3. The distribution from any endowment associated with a named professorship is used to pay the
   stated salary of the holder.
4. An annual research fund will be provided to holders of named professorships.
   1. The annual research fund amount provided for new named professorships will be
      $15,000.
   2. Existing annual research funds below this amount will be raised to $15,000, effective
      7/1/2024.
   3. The annual research fund amounts provided to current holders of named professorships
      will not be reduced below their historical levels (note, however, that Provision 6 applies
      effective 7/1/2024).
5. The balance of those funds that have not been spent by the end of the fiscal year will be carried
   forward to the next fiscal year, with the fund balance capped at twice the annual amount.
6. If the totality of faculty funds held by the holder of a named professorship exceeds $150,000, the
   College of Arts and Science will withhold the annual research fund until the total amount of
   faculty funds falls below that threshold.
7. Named professorships carry no perquisites (e.g., reduction in teaching load) other than those
   stipulated in this document.

Notes: Exceptions to this policy may need to be made to honor past hiring or retention agreements.

Effective: July 1, 2024