If that were the case in the above example, the endowment would only have to be at the $3 million level. For example, some endowed chairs might only receive 30% of their salary from the named endowment and the rest from general funds. A university with better fund managers could draw 8-10% a very conservative institution or a place that wants to grow the endowment endogenously might only draw 3-5%.Īnd as notes, for some positions not all position costs are paid entirely out of the endowment, and thus may require a smaller investment. This assumes a 5% per annum draw on the endowment, which is both conservative and average. If the researcher is making $250,000 in salary and benefits and $250,000 in funding for their lab, then you would want around $10,000,000 endowment minimum (salary and lab numbers chosen for ease of calculation rather than proximity to reality). In this case, the donor would continue to make payments to cover the other half of the amount on some mutually-agreed-upon schedule.įor a fully endowed position, multiply the expected salary, benefits, and research funds by 20x to get an approximation. However, some universities have policies which allow donors start the chair with have of the amount funded. From my experience with development, this is roughly consistent with other universities. The amount for an assistant professor at Duke is $1.5M. DardenCMRI/Reba McEntire Endowed Research Chair in Pediatric Neonatology Marilyn B. The College will consider scholars and artists from across the. Scott Oliver, MD, chief of the Retina Service and director of the Eye Cancer Program at the University of Colorado School of Medicine, has been named the inaugural Vitale-Schlessman Endowed Chair in Retinal Diseases at the Sue Anschutz-Rodgers Eye Center, effective Nov. Bowdoin College is seeking distinguished faculty scholars to fill four newly-endowed chairs. CrawfordCMRI/James Paul Linn Endowed Research Chair in Pediatrics Paul M. Written by Rachel Wittel on November 16, 2021. If you have a particular institution in mind, you may be able to find the information on the costs to start and endowed chair on their website. CMRI/Tripp Lewallen Endowed Research Chair in Pediatric Hematology/Oncology David F. At some universities, the required amount to start a fund is also rank-specific (assistant prof/full prof/dean). However, many universities allow for endowed chairs that do not cover the full cost of a faculty member's salary and lab. RoboKaren is right that the annual expected outlay is 5% of the value of the endowed fund.
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