Endowed Gifts
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 |
Minimum |
Annual |
Minimum Term | |
|---|---|---|---|---|
|
$2,000,000** |
$95,000 |
5-year appointment and upon review may be reappointed | ||
|
Endowed Chairs Endowed chairs carry great prestige within the academic world, and are the highest honor the University of Illinois can bestow on prominent faculty members. They server as incomparable tool with which to attract and retain scholars of proven brilliance in teaching and research. Endowed chairs represent reward, recognition, opportunity, and incentive - the very elements that comprise the intellectual environment. By providing specially dedicated resources for world-class research and teaching opportunities, these celebrated positions enable the most gifted faculty members to excel in their scholarly activities.The income from endowed chairs may be used to provide full or partial salary support. It may also help fund much of the chair holders' specific teaching and research requirements - such as laboratory equipment, support staff, graduate assistants, research materials, and computer equipment. Minimum Gift: $2 Million Depending on the Discipline | ||||
|
$500,000 |
$24,000 |
5-year appointment and upon review may be reappointed | ||
|
Named College Professorship Endowed professorships allow the University of Illinois on all three of its campuses to continue to build a thriving intellectual community by helping attract and retain promising scholars early in their careers. Providing support to faculty who are building national reputations is one way to ensure the continued quality of our professoriate. The income may be used both to augment the salary of the professor and to support the scholarly and research needs of the holder. Named professorships allow the University of Illinois to recruit worldwide young researchers and teachers, who show great promise and to encourage them to continue and expand their careers at Illinois.Minimum Gift: $500,000 | ||||
|
$250,000 |
$12,000 |
3 years | ||
|
Named University Scholar Inaugurated in the fall of 1985, the University Scholars Program recognizes excellence and extends support that will continue to position the entire University of Illinois System as one of America's preeminent universities - public or private.These awards help defray scholarly and research costs of the University Scholars and are given for a three-year period. Awards are made to senior faculty members whose work is superior in their field and to young scholars who are in the early stages of their careers, have already demonstrated strong scholarship, and show promise of further achievement. Minimum Gift: $250,000 | ||||
|
$200,000 |
$9,500 |
1 year | ||
|
Named Research Fund Creating and disseminating knowledge is one of the missions of a major research institution like the University of Illinois. The research conducted on our campuses is among the most sophisticated and technologically challenging of that undertaken anywhere in the world. The results of research conducted at the three campuses, Chicago, Springfield and Urbana, of the University of Illinois are changing our everyday lives, as well as preparing the way for future advances in areas ranging from life sciences and medicine to social work and education. Research at the University of Illinois is improving the world in which we live.Named research funds support various aspects of research activities including laboratory equipment, research materials, computer equipment, and staff support. Minimum Gift: $200,000 | ||||
|
$150,000 |
$6,500 |
1 year | ||
|
Named Fellow Endowment gifts designated for fellows allow the University of Illinois through its three campuses, to invite scholars and others who have distinguished themselves in their fields to visit our campuses and share their expertise with students and faculty in a variety of settings. Inviting fellows to campus gives faculty and students the opportunity to interact with innovative thinkers who are renowned in their discipline or field.The income generated from these endowments provides stipends for the visiting fellows. A fellow generally holds an appointment for one academic year. Within academe, it is an honor to be asked to visit the campus as a fellow. Similarly, the profile of the University of Illinois is enhanced when distinguished individuals serve as fellows. Minimum Gift: $150,000 | ||||
|
$100,000 |
$5,000 |
1 year or as appropriate | ||
|
Named Lecture Series Lecture series are important to the academic life of the campus. They allow faculty and students to interact with distinguished leaders who influence disciplines, society, the nation, and/or the world. In addition to delivering a lecture, speakers are invited to participate in other special activities during their visit.The named lecture series program provides resources to pay the expenses of bringing to campus speakers who are renowned in their field. Named Lecture Series can be established within a specific area, such as the College of Business Administration, or they can benefit the entire campus. Minimum Gift: $100,000 | ||||
|
$150,000 |
$6,500 |
1 year | ||
|
Named Fellowship/Assistantship From the ranks of today's graduate students will emerge tomorrow's leaders. A community of talented graduate students aids the University of Illinois in attracting top faculty; professors rely on their graduate students for their own intellectual sustenance and continued growth. Many of the best faculty thrive on mentoring the scholars of tomorrow.Graduate fellowships supported by endowments provide a crucial means of bringing to our campuses some of the best and brightest students in the world. Minimum Gift: $100,000 | ||||
|
$25,000 |
$1,200 |
1 year | ||
|
Named University Scholar Inaugurated in the fall of 1985, the University Scholars Program recognizes excellence and extends support that will continue to position the entire University of Illinois System as one of America's preeminent universities - public or private.These awards help defray scholarly and research costs of the University Scholars and are given for a three-year period. Awards are made to senior faculty members whose work is superior in their field and to young scholars who are in the early stages of their careers, have already demonstrated strong scholarship, and show promise of further achievement. Minimum Gift: $250,000 | ||||
|
$25,000 |
$1,200 |
as needed | ||
|
Named Endowed Funds Endowed funds may be established to support a wide range of donor interests and can contribute greatly to the future of the University of Illinois at Chicago and its College of Business Administration. With technologies advancing swiftly, renewable sources of funds for equipment have are vital to many fields. Substantial support for new programs - and for the acquisition of journals, books, databases, and other information resources - are of prime importance as the University of Illinois adapts to the requirements of the future. Classrooms, laboratories, operating funds, and improved facilities are a clear need for several colleges and units.Specific named endowments can be established in any campus unit to support priority needs. Minimum Gift: $25,000 | ||||
|
* Approximately 4-5 percent of the 7-year moving-average market value of the endowment pool. | ||||
If you have any questions or want more information about endowments, contact the Office of Advancement at (312) 355-0833 or pharmacy@uic.edu.