Named Professorships and Chairs
Endowed professorships and chairs are crucial to the task of attracting and retaining an exceptional faculty. They are powerful fuel for the overall mission of the academic medical center. Such support has the ability to attract renowned teachers and clinicians and augment the research of a top scientist.
The number of endowed professorships speaks to the financial strength of an institution. For the department designated the recipient of such special support, increased prestige and financial stability are but two of the rewards.
- A Special Focus: Preserving Teaching Time for Faculty
- Partner in Discovery: Support Biomedical Research
- Naming Opportunities
- Eminent Scholars Program
A Special Focus: Preserving Teaching Time for Faculty
Many of our faculty physicians now shoulder increasing patient care demands as the teaching hospital faces the financial pressures of managed care, market competition, and federal Medicare cuts. In fact, the time our clinical faculty spend on patient care is nearly double that of some of our peer research-intensive medical schools. Philanthropic support is crucial to our vision to endow Teaching Professorships. Through these positions, we will reward, protect, and inspire those who have a passion for communication, the generosity to share themselves with our students, and the skill to excite others to go beyond the basics.
Partner in Discovery: Support Biomedical Research
Despite ever greater competition for federal research dollars, extraordinary science is taking place on the MCV Campus. An outstanding cadre of physicians and scientists, along with new faculty recruits to the medical school, are working together on research studies that have the potential to demonstrably improve health through advancements in clinical care.
An endowed Research Chair may be used to attract new faculty members or to retain and reward individuals already on the faculty. In addition to recognizing excellence, these endowed positions carry with them the expectation of continuing worthy contributions to the faculty member’s specialty area.
The School of Medicine currently has 75 endowed faculty positions. These endowments carry the names of some of our most outstanding alumni, faculty and friends who have led and benefited from the school’s work.
Donors may endow positions at the following levels:
|Research Chair Endowment||$1,500,000|
Housed at the MCV Foundation, endowments produce an annual award of about 4–5 percent of the fund’s market value.
Eminent Scholars Program
Through its eminent scholars program, the Commonwealth of Virginia has provided universities additional incentive to create endowed professorships. Each biennium, the Commonwealth budgets dollars to award to institutions that established endowed professorships. These state dollars match a percentage of the interest earned by such endowments, thus multiplying the value of a donor’s gift.