Winter 2007

Bequest generates support for faculty

In fall 2006, the Foundation Board of Trustees voted to establish new endowment gift levels to encourage increased support of Miami faculty. As a result, it is now possible to endow a professorship with a gift of $400,000.

The new endowment levels are a critical step in helping Miami better support its faculty, while remaining competitive among peer institutions.

“Without a great faculty, we don’t have a great university,” President David Hodge said. “We have to do everything we can to support our faculty.”

The truth behind this sentiment is the reason why a large, unrestricted bequest, received from the estate of John Steube, a friend of Miami, will be used to create three endowed professorships. These are the first three professorships endowed at the new gift level.

President Hodge explained that endowed professorships are central to Miami’s success. They give Miami the ability to supplement a faculty member’s income, while giving faculty the support needed to pursue research, work with students outside the classroom, present at national conferences and more.

“We need to have many more endowed professorships,” said Hodge. “They are important for us to keep and support our best faculty. Alumni who support Miami always mention a professor that was important to them.”

Miami currently supports a faculty of well over 800 members. There are only 20 previously established endowed funds that support faculty at the new endowment levels, and an additional 20 funds for faculty at a lower endowment level.

In addition to endowed professorships, alumni and friends of Miami University can establish an endowed chair with a minimum gift of $1.5 million. Named faculty scholars can be endowed with a commitment of $200,000.

For more information about establishing an endowed professorship, chair, or named faculty scholar, call 513-529-1230.