Departmental Endowed Chair Policy
Purpose
EMU has established endowed chairs in selected departments. Endowed chairs are intended to honor an outstanding faculty member and provide support for their continued excellence in scholarship and teaching. Endowed chairs also bring special benefits to departmental programs and students. In each case there is understood to be three components of the chair endowment: 1) faculty member, 2) program, and 3) student scholarships. The purpose of this policy is to outline expectations for how appointments to endowed chairs will be made and how income from these endowments will be used. The policy ensures accountability on the part of faculty and administrators, as well as fairness throughout the institution. The Advancement division has additional policies on fundraising and expectations for endowed chairs.
Appointment Process
The Academic Cabinet, in consultation with the relevant academic department, will recommend to Faculty Status Committee the appointment of a particular faculty member to an endowed chair. The Faculty Status Committee will consider the recommendation in light of the general purposes of endowed chairs and any specific criteria for the particular chair, and will vote to approve or disapprove the appointment. Approved appointments will be submitted to the EMU Board of Trustees for confirmation.
Income Distribution
Endowment income will be distributed as described below. In all cases faculty and program expenditures are to be approved by the appropriate dean. The department is expected to annually submit a budget for distribution of the funds, monitor results throughout the year, and report on uses of the funds in the annual departmental report. All institutional policies are to be followed in the expenditure of funds.
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III Student scholarships - See Endowed Scholarship Policy from the Financial Assistance Department for information on how funds are distributed.
Responsible Party
The Provost is responsible for this policy. Deans, department chairs, and persons appointed to endowed chairs carry responsibility along with the provost to implement this policy as written.
Policy Review
This policy is to be reviewed every 5 years.
Distribution
Cabinet members
Departments with endowments
Persons appointed to endowed chairs
Faculty/Staff Handbook
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