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November 6th, 2007
Endowed chairs come with $ 1. 5 million to $ 3 million, and endowed professorships come with a minimum of $ 500, 000. The money is invested, and a portion of annual earnings goes to professors to supplement their salaries and pay for research, he said.
For example, a $ 1. 5 million endowment yields about $ 60, 000 a year.
The endowed positions have allowed the college to attract experts in a variety of fields, including nanotechnology, literacy, performing arts and geospatial imaging. They are "essential to the university" and key to moving closer to the goal of becoming a top research university, White said.
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