Gifts may be made to establish a permanent endowment fund. An endowment is a fund that earns annual interest income through the endowment pool of the University of Minnesota Foundation. The income is then used for the purpose specified by the donor. Since the principal of the fund is never used, the endowment remains in perpetuity, providing support for the donorís chosen philanthropic interest.
Endowments secure the infrastructure of our College by providing special support for the faculty, students, and academic programs in perpetuity. There are many levels of endowed gifts that will assist the College in developing continuing excellent programs and supporting excellent students and faculty. 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.
Types of Endowed Giving
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 professorís specific teaching and research expenses. A $1.0 million gift is necessary to establish an Endowed Faculty Chair.
Endowed Professorship: Endowed Professorship funds help the College attract and retain promising professors early in their careers. This is one way to ensure the continued quality of the Collegeís faculty. The income from the fund may be used to augment the professorís salary or support the professorís scholarly and research needs. A minimum gift of $500,000 is required to establish an Endowed Professorship.
Endowed Research Fund: Endowed Research funds support various aspects of the Collegeís 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 $250,000 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. Income from the fund is used to provide the resources to cover 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 CLA. Income from the fund will be applied toward the support of selected students. Gifts of $25,000 or more that are designated to endow graduate fellowships may be eligible for matching funds through the new 21st Century Graduate Fellowship Endowment. This unique matching fund will double the impact of the gifts for fellowships.
Endowed Undergraduate Scholarship: An endowment of this kind is needed to continue to attract the finest undergraduate students. These scholarships are awarded on the basis of academic merit. Income from the fund will be applied toward the selected studentís tuition. A minimum gift of $25,000 is needed to set up an Endowed Undergraduate 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 $10,000 are needed to establish these types of Endowed Funds.
For additional information about establishing an endowment, contact Jennifer Meyer, directly, by phone at (218) 726-6708 or toll free 1 (866) 726-7110 or by e-mail at firstname.lastname@example.org.