he generosity of alumni and friends has nourished the School of Nursing and made possible extraordinary achievements in teaching, research and public service. Many of our donors realize that the School’s strength in the future depends on building a foundation through endowments today.
What is an endowed gift?
An endowed gift is a gift that the University of Miami holds in perpetuity. The gift is invested, and only a portion of its average annual investment return is used for purposes specified by the donor. To guard against the eroding consequences of inflation, the remaining investment return is added to the principal. The goal is to ensure that the principal maintains its value over time. Thus, a donor who creates an endowed gift today can be confident that it will grow and continue to support UM in the years to come.
Can an Endowed Gift be Directed to a Specific Area? Creating Endowments
As with any gift to UM, an endowed gift offers alumni and friends the opportunity to have their names, or the name of a loved one, linked to an area of the University in which they have a special interest. Each donor's gift is a unique expression of the causes and concerns that matter most in his or her life. Some donors create unrestricted endowments, recognizing that the needs and challenges of the future will differ from those of today.
Other donors choose to direct their gifts to programs of special concern to them, knowing that these additional funds provide an opportunity for those programs to grow and excel. Some donors choose to endow a professorship in the academic discipline that inspired them as students. Many donors create undergraduate scholarships or graduate fellowships to aid deserving students. Others choose to support health care research, in areas of particular importance to them.
How are Endowments Managed?
Endowed gifts are invested in the University of Miami's Growth Pool. The overall investment objectives are:
- Preserve the portfolio's purchasing power through asset growth in excess of the spending policy, plus the rate of inflation;
- Invest assets in order to maximize the long-term return while assuming a reasonable level of risk.
Because the University is a permanent institution, it has adopted stable, long-term policies that increase the likelihood of achieving its investment objectives. Under current policy established by the Board of Trustees, five percent of the three-year moving market value is used for a fund's designated purpose. The remaining investment return is reinvested in the fund to allow for future growth.
Types of Endowments:
• Faculty Chairs- Endowed Professorships:
An endowed faculty chair provides the resources to fund a distinguished faculty member’s work, reward academic achievement, and enable the professor to pursue new areas of research or innovative teaching methods. Endowed chairs are often the reason UM is able to attract and retain the finest scholars. Being appointed to an endowed chair is one of the highest honors a scholar may achieve.
A gift to an endowed chair links a donor’s name in perpetuity to the accomplishments of the succession of scholars whose work the gift will ultimately support.
Frequently Asked Questions about Faculty Chairs and Endowed Professorships:
What is an endowed chair or a professorship?
An endowed chair or professorship is one of the highest honors bestowed on an academic institution, reflecting its reputation and prestige. With an endowment, the original gift or principal is invested and carefully managed to generate income in perpetuity, for generations to come. An endowment provides for a recipient’s salary and research support over the long-term. Endowed faculty can pursue scholarly breakthroughs and discoveries without funding constraints. For these reasons, endowment is known as “the gift that keeps on giving.”
What is the difference between an endowed chair and professorship?
Both endowments reward exemplary scholars and teachers in their fields. Endowed chairs attract senior-level scholars with a record of leadership in their disciplines. These individuals bring a wealth of experience to the curriculum and help the School to establish or significantly enhance nationally importation research centers and programs. An endowed professorship also attracts leading scholars in path-breaking fields, although not necessarily senior-level faculty with extensive leadership experience. An endowed professorship is flexibly designed to meet the need of various disciplines and sub-disciplines.
Why are endowed faculty positions a high priority?
The reputation of an academic department, program or institution can be attained orWeakened by its faculty. Leading scholars not only bring prominence to the University but they also bring innovation, leadership and research that can invigorate other faculty and students. These scholars attract their colleagues to the campus for permanent and visiting positions or conferences. Overall, universities with the resources to offer endowments are far more likely to attract better faculty and broader recognition.
Why should I endow a professorship or a chair?
For a donor, endowing a faculty position demonstrates a sophisticated understanding of and appreciation for UM’s significant missions and accomplishments. Such an endowment also represents an opportunity to advance the acquisition of knowledge for as long as the institution exists. The names of donors or their designee remain on the chairs and professorships in perpetuity, providing fitting recognition of great generosity. Faculty holding endowed chairs note their title as chair holder when they publish.
• Faculty Research Funds:
Endowed research funds are essential to the fulfillment of the School of Nursing and Health Studies’ academic mission. The School is committed to the support of innovative research that will affect the broader community. Income from endowed gifts supports the work of many of the University’s most distinguished senior scholars and scientists, as well as outstanding junior faculty members.
• Undergraduate Scholarships:
Scholarships allow the School of Nursing and Health Studies to meet one of its highest obligations: to attract and provide educational opportunities for its students. Endowed scholarships are an ongoing reminder of the important role generous donors play in the lives of successive generations of UM students. Talented and deserving students, who otherwise might not be able to attend the University of Miami, often find that a scholarship can make all the difference.
• Endowed Lecture Series:
An endowed lecture series enables the School to bring distinguished speakers to campus, giving students and faculty the opportunity to interact with important leaders, scholars, and professionals in various fields. Guest lecturers not only bring a new dimension to the academic environment, but also frequently provide stimulus for innovations in research and education.
To discuss charitable contribution opportunities, please call the SONHS Advancement Office at (305) 284-1892.
You can give securely online using
VISA, MASTERCARD, AMERICAN EXPRESS OR DISCOVER
Become a fan and follow us!