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A pendent of the financial insecurity that so often because the means now exist among many top.i[j
A ‘— haunts the upper regions of education, the occupant institutions to provide these teachers with corny
of the endowed chair has the enviable assurance sation in keeping with their training and it
among scholars that his teaching and research will important contributions to society.
_ proceed regardless of other institutional or eco- It high quality instruction is maintained at
.; nomic circumstances. University of Kentucky, and if the University
I   An endowed professorship is supported by a Kentucky is to compare favorably with other
».f principal sum of money customarily provided by a leges and universities, then additional faculty,
A ·i private benefactor. The principal provides income port must be provided. The endowed professoit}
» from earnings to supplement the regular salary of offer one means of meeting this need.
_ a distinguished teacher and/ or support expenses
for research, books, special equipment, supplies,
  professional travel and, perhaps, a secretary and
research associates. How Is A Chair Created?
` . At the great universities throughout the country
{ I and the world, endowed professorial chairs provide Recognizing the need, how then can a chai:
7 I the backbone of the faculty attraction and compen- endowed at the University of Kentucky?
sation program. So it should be at the University Simply, it works like this. An informed and
of Kentucky. terested party, whether individual, family, gr
At the present moment the University of Ken- of friends, or organization, may establish a t
; . tucky faculty does not enjoy a single endowed in any college or discipline agreeable to thei
I . chair. However, alumni annual gifts are providing versity. A capital gift of $50(),00O is most dex
Q j the means to support three alumni professorships but a chair may be established for as littlz
. L on a year-to-year basis. In addition, the American $200,000. The invested gift of $500,000, for
L `   Cancer Society and the American Heart Association ample, would yield at least $20.000 annually.
  through their annual contributions support profes- supplemental faculty salary and expenses.
I sorships in cancer and heart research in the Univer- The capital gift may occur in any one ferr.
I j sity’s College of Medicine. However, the University in a combination of forms; lifetime gift, gift thi;
I A of Kentucky does not have a traditional endowed an estate, cash, securities, real estate. insuraiir:
i chair. trust funds. In most instances the name of thed
I By comparison, the University of North Carolina becomes a part of the title of the chair sue
V T now enjoys thirty-four endowed chairs, the Univer- The Reynolds Chair of Human Relations at
4 L sity of Texas, thirty; Indiana University, twelve; University of North Carolina, or The Scottish.
A   and Ohio State University, six. Professorship of Neurology at the Universit
I   The basic needs of the University of Kentucky Texas. However, chairs also are named as 1r.»
,   are met through legislative appropriations just as rials for loved ones because the academici
I legislative appropriations in other states customarily traditionally is established to last throughout
l . _ support the basic needs of their state universities. life of the university.
l j The state provides the basic educational opportu- Academic chairs also may be endowed tr.
;   nity, but the vital margin to support distinguished installment plan. This novel idea. pioneertf
Q   teaching must come from the private sectors most Harvard Medical School a few years ago. pc.
I ·   interested in the institution . . . the alumni and the chair to be established immediately by pled
1 i   friends. gifts for current support while additional pan?
; Because the University of Kentucky must com- build up endowment over a period of years.
pete in the academic marketplace for outstanding Of course, gifts of less than $200,000 alsv
· faculty P€1'$OUU€l, th€ TI`U$t€€$ of tht? University enthusiastically welcomed and can be desijiti
I have established faculty compensation as a priority for a specific academic area or left rrndeSi¥t
I area in gift support. This trustee decision is a sober for usc at the discretion of the university.
expression of a critical need in the most crucial of But the challenge is clear! If the Universit
i all educational areas. Kentucky is to attract and keep a clistillgtlt
I , No longer is there such a thing as good, low- faculty, then the means must be found t0 DW
  priced university teachers. The competition for attractive and competitive compensation. I
Q good people is keen. Good university teachers no means is the endowed chair . . . the chair uv?
, longer must struggle through a threadbare existence sitting.
I    42
it i