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Gifts are accepted by the University of Minnesota for the purpose of creating endowed chair, professorship, or faculty fellowship positions. These positions may be permanently endowed; or established as a 10-year term position if the annual support is equal to 1/10 of the total needed for appropriate endowment level. The Board of Regents approves the minimum levels of endowments. University faculty may be eligible to hold one of these positions to enhance their contribution to teaching, research, and public service. Units must coordinate all donor proposals, negotiations, and contracts with the University of Minnesota Foundation to ensure that there is no conflict with other donor/proposal contracts and that all parties agree how the donation is to be applied.
Endowed chairs, professorships, and faculty fellowship positions typically carry the name of the donor; a person or institution designated by the donor; or a person in whose name the University seeks funds to endow the position. Terms such as University, distinguished or the title Regents Professor are conferred only by the Board of Regents.
The Executive Vice President and Provost, Chancellor, Vice President for Clinical Affairs, or Dean determines the appointment and length of term for each position, taking into consideration the donor agreement on file. The responsible University administrator must ensure that the endowment distributions and withdrawals are expended in accordance with the terms of the endowment. Units are responsible for determining the search and selecton procedures for appointing faculty members to named chairs, professorships, or faculty fellowships, in compliance with University HR and EOAA policy and practice.
Endowment distributions and withdrawals from a chair, professorship, or faculty fellowship fund are intended to support a full-time faculty member or visiting faculty member as specified by the conditions of the donor agreement. The endowment distributions and withdrawals may be used to offset or supplement salary and fringe benefits of the recipient as well as staff support, travel, research, and other expenses related to the position. In situations where sufficient funding is available from the endowment, more than one position may be supported using the same name.
Units may charge expenses associated with searching for chairs, professorships, or faculty fellowship positions, in compliance with the University’s Business Expenses and Hospitality and Entertainment of Non-Employees policies, to the available balance when the position is vacant.Units must work with the Foundation to make any changes to the terms of the donor agreement.
Units with PUF chairs or professorships must follow the spending requirements outlined in MN State Statute 137.022.
Reason for Policy
To maintain the highest standards of stewardship and fiduciary responsibility for endowed chairs, professorships, and faculty fellowships in order to support the work and increase the effectiveness of the scholar who has received this designation.