*Establish a professorship now through September 30, 2009 for half price.
The president of Auburn University recently identified raising funds for 81 endowed professorships as a key strategic initiative for the university. Professorships reward faculty with exceptional merit. These funds offer a huge morale boost by providing salary enhancements to faculty who stimulate young minds and contribute to building programs that enhance the university.
Professorships can be established for $150,000, half the normal amount, from now until September 30, 2009. Auburn will match the annual spendable funds ($7,500) into perpetuity.
Endowment Giving – The Gift That Keeps Giving
Endowed giving is designed to provide a large and long-term base of constant support for the quality enhancement of the College of Architecture, Design, and Construction.
The endowment program is based on the concept that gifts will be invested and only a portion of earning (three to five percent) will be used to carry out the intention of the donor’s gift. The amount of earnings to be spent will be determined through an endowment spending plan approved by the Auburn University Foundation Board of Directors.
All or a portion of the income may be added to the principal as specified in the agreement approved by the donor and the University Administration. Because the principal is not used, the endowment is a lasting legacy. Endowment giving is a way to establish permanent funding and thus, is truly the gift that keeps on giving. Endowment giving is also a permanent naming opportunity and can be established to reflect the name of the donor(s) or someone they wish to honor.
Types of Endowment Giving:
Scholarship Endowment
Professorship Endowment
Funds For Excellence Endowments
Scholarship Endowments
The College of Architecture, Design, and Construction’s ability to offer scholarships is a key in enabling many bright students to attend who would otherwise be unable because of personal circumstances. Scholarships also allow us to reward hard work. Endowed scholarships are naming opportunities established by a donor(s). An agreement for endowed scholarships is established by the donor to determine the quantity, amount of the scholarships, application requirements, and renewability based on the earned income of the permanent principle invested. The endowment minimum can be set up to be payable over a period of five-years.
Types of Endowed Scholarships are as follows:
Named Endowed Presidential Scholarships ($150,000 minimum)*
The opportunity for the university to offer scholarships approximating the cost of attending the University to the nation’s brightest undergraduate students is critical to the future of academic excellence of the University. These scholarships are an extremely important recruiting tool for outstanding students and ensuring the college’s reputation for academic excellence. Earnings from these endowments will fund an amount approximating in-state tuition, room and board at established university levels for one-year. A minimum of $600,000 can be used to establish a four-year continuing scholarship.
Named Endowed Tuition Scholarships ($100,000 minimum)*
The University’s ability to offer tuition scholarships is a key in enabling bright students to attend Auburn who would otherwise be unable to because of personal circumstances. Tuition scholarships recognize academic excellence and bring honor to the donors who assist the university by helping worthy students. These endowments are designed to provide an amount approximately equal to in-state tuition for one year at established university rates.
Named Partial Tuition Scholarships ($25,000 minimum)
These endowments are used to assist with tuition expenses and are a terrific way to offer continuing support.
To be adjusted periodically
Professorship Endowments
A named endowed professorship honors the donor and assists academic departments by providing the resources necessary to provide an appropriate level of support for faculty. They also aid in recruiting and retaining the best professors. Endowed professorships are naming opportunities and can carry the names of the donor(s) or someone they wish to honor.
Named Endowed Professorships ($300,000 minimum)
Endowed named professorships provide salary supplements to existing salaried position professors. These supplements may also be used to supplement travel and research expenses.
Funds for Excellence Endowments
There are many other endowment opportunities available through the College of Architecture, Design, and Construction. All endowment contributions can be spread out over a five-year period and create a permanent source of funding.
Named Endowed Awards and Special Endowments (Minimum $25,000)
From time to time there is a need for the creation of special or unique endowments. Some of these programs may include the endowing of lectureships, lecture series, special programs, etc. Endowments for these unique programs will, by necessity, be of varying amounts and determined on a case-by-case basis and approved by Dean and the Vice-President for Development. Endowments that are generally broader in nature and provide the college with a substantial amount of latitude in the expenditure of income will be designated as “funds for excellence.”