Creating an Endowment
Some donors choose to direct their gifts — to endow a chair or professorship in the academic discipline that inspires them or create scholarships or fellowships for deserving students or support medical research of particular importance to them. The most common types and their minimum investments are listed below:
- Endowed Chair – $1,500,000
This type of endowment is among the most prestigious and meaningful gifts that can be made to, or accepted by, an academic institution. An endowed chair may provide full salary or a salary supplement and fringe benefits for the recipient and support staff or other expenses as the endowment agreement permits. The holder may also use the honorary title associated with the chair.
- Endowed Professorship – $500,000
This type of endowment provides income that may be used for a portion of the salary and fringe benefits of the holder, who may also use the honorary title associated with the professorship.
- Endowed Visiting Professorship – $250,000
This type of endowment brings a visiting professor to UAB. This distinguished lecturer comes to UAB with skills and knowledge from another arena to share with peers on this campus.
- Endowed Graduate Fellowship – $200,000
An endowed fellowship provides support to graduate students as they strive to fulfill the academic requirements in their field of expertise.
- Endowed Research Fund – $100,000
Endowed research funds provide income to support research in the discipline, disease or area of interest stipulated in the agreement with the donor.
- Endowed Lectureship – $75,000
An endowed lectureship is used to bring a distinguished scholar to the university each year to lecture on a particular subject or in a specific discipline.
- Endowed Student Loan Fund – $50,000
Loans provide assistance to students as they struggle to complete their degrees. An endowed loan fund receives annual income from its investments and also receives interest from student repayments once they have graduated and joined the workforce.
- Endowed Scholarship – $25,000
The financial hurdles facing many young students today are every bit as imposing as the academic ones. An endowed scholarship provides students help with tuition, fees, books, supplies and other living expenses as the endowment agreement permits.
- Endowed Program Support Fund – $25,000
An endowed program support fund may be used to provide for prizes or awards, to support seminars or other
educational activities, to purchase equipment or much needed supplies for the program, or other expenses
as the endowment agreement permits.