What is an endowment?

THE UNIVERSITY OF NORTH CAROLINA AT ASHEVILLE
FOUNDATION, INC.

Supporting UNC Asheville, North Carolina's Public Liberal Arts University

WHAT IS AN ENDOWMENT?

One of the ongoing priorities of the University of North Carolina at Asheville Foundation is to build university endowments to provide ongoing financial support to designated programs. Endowment funds are perpetual, and the monies received are invested and managed by the UNC Asheville Foundation. Income from an endowment is used to support the specified program.

Endowments may support many areas, including scholarships, academic programs, chairs and professorships.

Donors may designate their endowments for specific purposes and place some restrictions on the use of the funds. In addition, an endowment provides a very special opportunity to recognize an individual or organization by naming the endowment in their honor.

In recent years several buildings on campus have been named for the contributor(s), with gifts used to establish unrestricted endowed funds. There are currently several new buildings that offer such opportunities to interested individuals.

A chart showing the minimum gift levels for establishing named endowments follows.

MINIMUM GIFT LEVELS FOR ESTABLISHING NAMED ENDOWED FUNDS

POSITION FUNDING LEVEL * DESCRIPTION

Distinguished Chair $1,000,000 Establishes named chair to be held by teacher and scholar of exceptional distinction; income provides funds for scholarship and research

Distinguished Professorship $500,000 Establishes named professorship

Faculty Development Funds 100,000 Provide annual income for gifted faculty members to pursue innovative methods of teaching, attend seminars, conferences, and for research expenses

Lectureship $75,000 Provides prominent guests to fulfill teaching and lecturing roles in particular courses or fields of study

Scholarship $25,000 Establishes named endowed scholarship fund. ($40,000 required to provide full year's tuition and fees for in-state students)

Departmental Enhancement Fund $25,000 Named fund to be used at discretion of department chair for special student awards, travel expenses, special seminars and research

Named Endowed Fund $25,000 Income to remain undesignated and its use determined for the UNC Asheville Foundation until fund reaches a principal value of $25,000 (at which time donor may change purpose of fund)

* Figures are minimum funding levels. In some cases, the minimum level of support may not be sufficient to enable the chair or professorship to undertake all the above described activities. Certain programs may require a higher level of financial support to fulfill the obligation of the position.

Board of Directors Endowed Distinguished Professorships

MINIMUM GIFT LEVELS FOR ESTABLISHING NAMED ENDOWED FUNDS
POSITION	FUNDING LEVEL *	DESCRIPTION
Distinguished Chair	$1,000,000	Establishes named chair to be held by teacher and scholar of exceptional distinction; income provides funds for scholarship and research
Distinguished Professorship	$500,000	Establishes named professorship
Faculty Development Funds	100,000	Provide annual income for gifted faculty members to pursue innovative methods of teaching, attend seminars, conferences, and for research expenses
Lectureship	$75,000	Provides prominent guests to fulfill teaching and lecturing roles in particular courses or fields of study
Scholarship	$25,000	Establishes named endowed scholarship fund. ($40,000 required to provide full year's tuition and fees for in-state students)
Departmental Enhancement Fund	$25,000	Named fund to be used at discretion of department chair for special student awards, travel expenses, special seminars and research
Named Endowed Fund	$25,000	Income to remain undesignated and its use determined for the UNC Asheville Foundation until fund reaches a principal value of $25,000 (at which time donor may change purpose of fund)