Submitted by: [Insert: Name] Date Vice President for Institutional Advancement of Kentucky State University
APPENDIX E ENDOWED CHAIR TEMPLATEMEMORANDUM OF UNDERSTANDINGBETWEEN KENTUCKY STATE UNIVERSITYAND[NAME OF DONOR/S]regardingTHE [Insert: Donor Name or Other] ENDOWED CHAIR in [Insert: Subject matter]
1. Name:
The [Insert: Donor Name or Other] Endowed Chair in [Insert: Subject matter]
2. Purpose:
This endowed chair in [Insert: Subject matter] is created by [Insert: Donor Name]. [Optional Insert: specific objective, name of person being honored or memorialized with information describing their accomplishments, etc.]
3. Selection Criteria:
The [Insert: Name of Endowed Chair] selection criteria will be determined by the Provost of the University in consultation with the faculty of the [Insert: Name of Department] or successor department. The nominee will be a faculty member whose record indicates teaching excellence and distinction in the discipline; however, KSU agrees to consider external candidates with appropriate faculty credentials for this appointment.
4. Funding, Terms, and Conditions of the Appointment:
Funding of the Chair will occur with the accumulation of $1,500,000, which is to include [Insert: funding source(s) and amount(s)], and shall have been invested for one year after reaching that amount before the inception of the [Insert: Name of Endowed Chair]. The $1,500,000 will be placed in the permanent endowment of the University, and when fully funded, income distributions from the [Insert: Name of Endowed Chair] will provide the funding to support the compensation of the designated chair.
Further, it will provide financial support for expenses directly related to the Chair’s teaching or scholarship responsibilities, as approved by the Provost of the University. A discretionary account will also be established and disbursed, with the