The University welcomes the support provided by endowments. By definition, an endowment will exist in perpetuity and, if well invested, will continue to meet future needs even after the effects of inflation.
Minimums are necessary for endowments in order to provide an appropriate level of future funding.
A chair, for example, is expected to contribute toward a portion of the salary, in addition to related expenses, or a faculty position. Before a new endowment fund will be established, a minimum dollar amount must be pledged. The pledge must be fulfilled within five years. In accepted endowments, the University is legally bound to keep the corpus intact and to comply with donor restrictions governing the use of the income. The corpus is the principal of an endowment fund.