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Alumni

Endowed Gifts

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What is an endowed fund?
An endowment is a permanent fund that earns annual interest income through the endowment pool of the University of Illinois Foundation. The earned income is used for the purpose specified by the donor. Since the principle of the fund is never used, the endowment remains in perpetuity.

The University of Illinois Foundation holds gift endowments permanently as principle, and manages them so that yields can frequently begin to be distributed within one year. Earnings over and above the yields specified for an expenditure, which is typically 4.75%, are returned to the principal as a hedge against inflation and for growth of the endowment. For more information about how endowment assets are managed, visit the University of Illinois Foundation web site.

What is the importance of endowment?
Endowments are used to secure the future and growth of the College of Pharmacy by providing support for the faculty, students and academic programs in perpetuity. Private support earmarked for endowment is the most important investment we can make in the UIC College of Pharmacy.

Endowments are a source of prestige, and the catalyst that moves us forward. For example, an endowed research chair can be used to attract stellar faculty.

What types of endowed funds are there?
There are many levels of endowed gifts that will support the College's programs and people. Each of the endowments listed below is a named fund, which means the fund may be named as a legacy to the donor or as a memorial for whomever the donor wishes. The amounts listed are the minimum requirement.

Endowed Faculty Chair Endowed Professorship Endowed Faculty Scholar
Endowed Research Fund Endowed Lecture Series Endowed Graduate
Fellowship/Assistantship Endowed Scholarship Other Endowed Funds


  • Endowed Faculty Chair
    An Endowed Faculty Chair Fund allows the College to attract and retain professors of proven brilliance. The income from the endowed fund may be used to provide full or partial salary support, and much of the professor's specific teaching and research expenses. A $2 million to $3 million gift is necessary to establish an Endowed Faculty Chair.

    Endowed Faculty Chairs are especially important for Pharmacy research. Chairs increase the prestige of Pharmacy research. Nationwide, Pharmacy chairs are increasing exponentially. In order to remain competitive, we must establish more chairs in Pharmacy research.
  • Endowed Professorship
    Endowed Professorships help the College attract and retain promising professors early in their careers. This is one way to ensure the continued quality of the College's faculty. Income from the fund may be used to augment the professor's salary or support the professor's scholarly and research needs. A minimum gift of $750,000 is required to establish an Endowed Professorship.
  • Endowed Faculty Scholar
    An Endowed Faculty Scholar Fund enables the College to invite scholars and others who have distinguished themselves in their fields to visit campus and share their expertise with students and faculty. Income generated from these endowments is used to provide stipends to visiting fellows. A $250,000 minimum gift is required to establish an Endowed Faculty Scholar.

  • Endowed Research Fund
    Named Research funds support various aspects of the College's research activities. Income from the fund may be used to purchase such things as laboratory equipment, research materials, computer equipment, or pay for staff support. A minimum gift of $200,000 is required to establish an Endowed Research Fund.

  • Endowed Lecture Series
    An Endowed Lecture Series allows faculty and students to interact with distinguished leaders who are influencing disciplines, society, the nation or the world. Fund income is used to provide for the expenses of bringing such speakers to campus. A minimum gift of $100,000 is necessary to establish an Endowed Lecture Series.

  • Endowed Graduate Fellowship/Assistantship
    Such funds provide a crucial means of attracting some of the best and brightest graduate students in the world to the College. Fund income is applied toward the support of selected students. A minimum gift of $150,000 is needed to establish an Endowed Graduate Fellowship or Assistantship.

  • Endowed Scholarship
    An endowment of this kind is needed to continue to attract the finest students. These scholarships are awarded on the basis of academic merit. Income from the fund is applied toward the selected student's tuition. A minimum gift of $25,000 is needed to set up an Endowed Scholarship.

  • Other Endowed Funds
    An unlimited variety of other Endowed Funds may be established to support a wide range of donor interests. Gifts of this nature can contribute greatly to the future of the College in many diverse ways. Minimum gifts of $25,000 are needed to establish these types of endowed funds.

To learn more about an individual Endowment Opportunity, click on a specific name.

 

Naming  
Opportunities  

Minimum
Endowment

Annual
Distribution*

Minimum Term
for the Position

Chair

$2,000,000**

$95,000

5-year appointment and upon review may be reappointed

Professorship

$500,000

$24,000

5-year appointment and upon review may be reappointed

University Scholar

$250,000

$12,000

3 years

Research Fund

$200,000

$9,500

1 year

Faculty Scholar

$150,000

$6,500

1 year

Lectureship

$100,000

$5,000

1 year or as appropriate

Fellowship/Assistantship

$150,000

$6,500

1 year

Scholarship

$25,000

$1,200

1 year

Fund

$25,000

$1,200

as needed

* Approximately 4-5 percent of the 7-year moving-average market value of the endowment pool.
**Specific disciplines or departments may require a higher minimum.

If you have any questions or want more information about endowments, contact the Office of Advancement at (312) 355-0833 or pharmacy@uic.edu.