The first endowed chairs began about 15 years ago, and for symbolic and strategic reasons were established in philosophy and theology. Since then, donors generally have determined the research area of each chair, in consultation with the President and dean of the college. Typically, the dean has in mind a number of strategic areas within the college, and the Development Office will work to match these to the specific interests of the donor.
The donor gives $1 million to establish the chair. The goal is to grow this to a level sufficient, given the 5 per cent payout rule, to recruit outside scholars on new faculty lines. Since none of the chair endowments is large enough yet, all current chairholders are either internal faculty members or were hired on an existing tenure-track line. The chairholders have five year terms, renewable upon recommendation of the dean and VPAA, following a comprehensive performance review. So far, all chairholders have been renewed, unless they chose to step down. All but one of the chairholders have been male. Currently, there are 11 endowed chairs, with a few more in the works.
Each year, 5% of the three year running average value of the chair’s endowment is put into the general faculty salary fund to underwrite the chair holder's salary. Through the budget process, an amount of money is made available – the amount depends on the size of the endowment – to offer the chairholder a cafeteria-style list of options: travel funds, supporting a graduate student, buying secretarial help, summer stipend, buying a course reduction, etc. In return, the chairholder is expected to be very productive in terms of teaching and research, to demonstrate good citizenship and leadership in his or her college and the University, and to be an example to graduate students and junior faculty. The chairholders also prepare an annual report for the Dean and the donor and meet periodically with the donor.
(This discussion is excerpted from the 11/14/2006 Academic Policy Minutes, with Dr. Johannes answering the question posed by APC members.)
Endowed Chairs