Use of Endowed Chair Funds Policy
Department of Medicine Policy on Use of Endowed Chair Funds
Endowed chair funds are typically derived from philanthropic sources; as such they are usually tied to an expectation that they be used for specific purposes. This includes to support a faculty member’s effort (i.e. often toward research) and research program (personnel, supplies, reagents, etc…).
Our goal is to appropriately recognize the intent of the funds while at the same time to support the holder of the endowed chair. In general, the expectation is at least half of the annual payout will be used to support the faculty member’s salary. Should the faculty member have a full or a large amount of salary covered with grants or other funds, then a smaller proportion of the chair funds may be used to support salary.
Details of the proportions to which endowed chair funds are allocated are expected to be mutually agreed upon, based on individual faculty details, by the Division Director, the Department of Medicine finance team, and the Department of Medicine Chairman.
Effective date 1-13-2020