Internal Management Memoranda

EFFECTIVE DATE: December 1, 1993

INTERNAL MANAGEMENT MEMORANDUM NUMBER: 6C1-6.60-7 (Revised)

SUBJECT: IFAS; UFF SHARE Named Professorships (NP), Visiting Professorships (VP)

UFF SHARE endowments presently may be established with a minimum gift of $100,000 which may qualify for a match of $50,000 from the state's Major Gifts Trust Fund.

1. Minimum Endowment Gift Levels to Establish Named and Visiting Professorships
   1. A minimum UFF SHARE endowment gift of $300,000 (donor gift plus state match) is required for the creation of a Named Professorship (NP). Larger endowments may support more than a single NP.

   2. To establish a UFF SHARE endowment for a Visiting Professorship (VP), requires a minimum gift of $150,000.

2. Donor Specifies Unit or Program

   The donor may specify which unit(s) or which program area(s) is to receive the NP or VP. However, there will be no designation as to the functional area which the NP or VP will represent.

3. Selection Process

   The Vice President for Agriculture and Natural Resources and the IFAS Deans will call for proposals from unit administrators each year at promotion time for NPs that will be open for awarding. After receiving the proposals, the IFAS Tenure and Promotion Committee will review the proposals and submit recommendations to the Vice President for Agriculture and Natural Resources who will make the final selection of the recipient of each NP with the input of the IFAS Deans.

4. Length of Term of NP or VP Appointment

   Each NP will be appointed for a period of ten (10) years. NP recipients will not be appointed a second term. VPs may be appointed for a period of up to five (5) years.

5. Salary Supplements

   Earnings from a UFF SHARE endowment creating NPs or VPs may be used for an annual salary supplement no greater than 10% of the state supported salary at the time the selected NP or VP candidate is appointed. The amount of the supplement shall remain constant for the duration of the appointment. In no case will the salary supplement be greater than the annual earnings of the endowment.

6. Support Funding

   NP or VP endowment earnings may be used to provide the NP or VP with additional support for equipment, graduate assistantships, post-doctorates, etc. Procedures for using available funds from the endowment's cash account are the same as those used for other UFF SHARE accounts (See IMM 6C1-6.60-2 and 6C1-6.60-3). Earnings credited to the endowment's cash account may be allowed to accumulate over several years to facilitate the acquisition of expensive equipment.

   In no case will earnings credited to the endowment cash account be reduced below the amount necessary to cover the NP or VP salary supplement.