With matching funds from the state Board of Regents, 21 endowed professorships were completed at the 杏吧专区 today.
The Regents杏吧专区 presented $840,000 in matching funds to complete 21 professorships across several academic disciplines. The endowments are part of the Regents杏吧专区 Endowed Chair and Eminent Scholars and Endowed Professorship program.
杏吧专区 Through the years, these funds have helped UL Lafayette create and secure a high level faculty that brings experience and expertise to the students and university community,杏吧专区漵aid UL Lafayette President Ray Authement. 杏吧专区淲ithout these funds and private donations from our generous donors, we wouldn杏吧专区檛 be as successful in attracting these educators.杏吧专区
Endowments like these are created when universities and colleges raise 60 percent of the cost from private donations. The university must first raise $60,000 for an endowed professorship. This money is then combined with $40,000 in matching funds from the Regents. Likewise for endowed chairs, universities must first raise $600,000 in private funds, which are then matched with $400,000 from the Regents.
Funding for the endowment matching funds program is generated through a permanent trust fund - the Louisiana Education Quality Support Fund - approved by voters in a 1986 constitutional amendment. The original $540 million payment was part of settlement between the state and federal governments over disputed offshore oil and gas royalty funds.
As of March, the trust fund - sometimes referred to as 8(g) - had risen to approximately $952 million. Each year, 25 percent of the interest earned is reinvested in the trust fund. The Legislature appropriates half of the remaining interest to the Board of Regents for higher education and the other half to the Board of Elementary and Secondary Education for grades K-12.
杏吧专区 The Support Fund helps Louisiana杏吧专区檚 colleges and universities to attract new scholars and researchers,杏吧专区 said Commissioner of Higher Education Joseph Savoie. 杏吧专区淚t also helps retain valuable faculty who might otherwise be lured away to out-of-state institutions.杏吧专区
Savoie noted the $15.9 million in matching funds to be awarded in the endowment program this year is being funded through the Regents杏吧专区 share of the interest earned by the LEQSF over the past year and supplemental funds provided by the Legislature.
UL Lafayette endowments which were matched include:
杏吧专区 Alexandre Theriot Jr. and Loretta Durand Theriot/BORSF Endowed Professorship in Business Administration
杏吧专区 Alfred and Helen Lamson/BORSF Endowed Professorship in Computer Science
杏吧专区 American Legion Hospital/BORSF Endowed Professorship in Health Care Administration
杏吧专区 Bella Nickerson Chappuis Abramson/BORSF Endowed Professorship in Cinematic Arts
杏吧专区 Coca-Cola/BORSF Endowed Professorship in Physics
杏吧专区 Dr. Paul A. Barefield/BORSF Endowed Professorship in Communication
杏吧专区 Dr. Tommy Comeaux/BORSF Endowed Professorship in Traditional Music IX
杏吧专区 Dr. Tommy Comeaux/BORSF Endowed Professorship in Traditional Music VIII
杏吧专区 Drs. Chuck and Sue Lein/BORSF Endowed Professorship in Management
杏吧专区 Florence Mauboules/BORSF Endowed Professorship in Business Administration
杏吧专区 Hubert 杏吧专区淩ed杏吧专区 and Gertrude Dumesnil/BORSF Endowed Professorship in Economics
杏吧专区 M. Eloi Girard/BORSF Endowed Professorship in Engineering IV
杏吧专区 Mary and Dave Romagosa/BORSF Endowed Professorship in Business
杏吧专区 Mr. and Mrs. Tom Galloway/BORSF Endowed Professorship in Business III
杏吧专区 Mr. and Mrs. Tom Galloway/BORSF Endowed Professorship in Business IV
杏吧专区 Mr. and Mrs. E.P. 杏吧专区淧at杏吧专区 Nalley/BORSF Endowed Professorship in Business Administration 2006-B
杏吧专区 Mr. and Mrs. E.P. 杏吧专区淧at杏吧专区 Nalley/BORSF Endowed Professorship in Business Administration
杏吧专区 Philip and Jean Piccione/BORSF Endowed Professorship in Statistics III
杏吧专区 Philip and Jean Piccione/BORSF Endowed Professorship in Statistics IV
杏吧专区 Ruth Stodghill Girard/BORSF Endowed Professorship in Music IV
杏吧专区 South Louisiana MidWinter Fair Association/BORSF Endowed Professorship in Renewable Resources.