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Regents' Policy Manual - Section 5.18: Endowed Faculty Chairs

Adopted Date: 06-14-2005
Amended: 01-09-2015

Applicability

This policy applies to the faculty of the University of New Mexico.

Policy

The quality of the faculty is one of the enduring hallmarks of a great institution. The University of New Mexico will have made great strides toward being a world-class institution when a large number of eminent scholars across many different areas of study are members of our faculty.

An endowed chair is an honor that can be bestowed on a scholar of distinction. This honor will allow an individual to conduct meaningful inquiry that will expand the frontiers of knowledge and instruct generations; as a result, the reputation of the University will be enhanced. An endowed chair is a singular opportunity to recognize and sustain innovative intellectual work. The income derived from such an endowment can be used to provide salary support or to fund specific laboratory or other scholarly expenses.

The Role of the University of New Mexico Foundation

An endowed chair may be established by a gift or conferred pledge of $1.5 million. When the University of New Mexico Foundation (UNM Foundation) becomes aware of a donor's wish to establish an endowed chair, the UNM Foundation will communicate the intent of the donor to the President of the University, the Provost and Executive Vice President for Academic Affairs, and the Chancellor for Health Sciences. Upon approval by the President, the UNM Foundation will oversee the details of the gift pledge and will ensure that a fundamental agreement is drafted containing terms consistent with the intentions of the donor. A resolution proposal by the UNM Foundation will be forwarded to the Board of Regents' Academic, Student Affairs, and Research Committee. Appropriate University offices will receive copies of fundamental agreements and resolutions. The Board of Regents' Academic, Student Affairs, and Research Committee will, if approved, forward the resolution to the Board of Regents for action.

The Role of the Regents of the University of New Mexico

The Board of Regents, as the governing body of the University, will act to approve both the establishment of a chair and its holder. In both cases their action will be preceded by review and approval by the Board of Regents' Academic, Student Affairs, and Research Committee. 

Once the candidate to hold the chair has been approved by the Board of Regents, the University will take steps to invest in that individual and the chair. This ceremonial occasion would bring together the donors responsible for creating the chair, other donors and friends of the University, friends and family of the chair holder, friends and board members of the University and, if appropriate, invited guests who share scholarly interests with the chair holder to celebrate with members of the academic community. Venues for such an event may vary; possible examples include the Alumni Memorial Chapel, the Student Union Building, or on some occasions the outdoors. The UNM Foundation will be responsible for planning and executing the event.

Role of the Provost and Executive Vice President for Academic Affairs and the Chancellor for Health Sciences

The Provost and Executive Vice President for Academic Affairs or the Chancellor for Health Sciences, depending on the academic role of the chair holder, should ensure that chair holders provide a report of their activity during the course of an academic year. This ensures the academic integrity of the chair and also provides the donor with information on the positive outcomes of his or her gift.

References

RPM 2.11 ("Naming University Facilities, Spaces, Endowments, and Programs"); RPM 7.13 ("Receipt and Investment of Gifts to the University"); and Faculty Handbook Policy C170 ("Endowed Chairs and Named Professorships").