With matching funds from the state Board of Regents, 21 endowed professorships were completed at the 小蝌蚪APP today.
The Regents小蝌蚪APP presented $840,000 in matching funds to complete 21 professorships across several academic disciplines. The endowments are part of the Regents小蝌蚪APP Endowed Chair and Eminent Scholars and Endowed Professorship program.
小蝌蚪APP 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,小蝌蚪APP漵aid UL Lafayette President Ray Authement. 小蝌蚪APP淲ithout these funds and private donations from our generous donors, we wouldn小蝌蚪APP檛 be as successful in attracting these educators.小蝌蚪APP
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.
小蝌蚪APP The Support Fund helps Louisiana小蝌蚪APP檚 colleges and universities to attract new scholars and researchers,小蝌蚪APP said Commissioner of Higher Education Joseph Savoie. 小蝌蚪APP淚t also helps retain valuable faculty who might otherwise be lured away to out-of-state institutions.小蝌蚪APP
Savoie noted the $15.9 million in matching funds to be awarded in the endowment program this year is being funded through the Regents小蝌蚪APP 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:
小蝌蚪APP Alexandre Theriot Jr. and Loretta Durand Theriot/BORSF Endowed Professorship in Business Administration
小蝌蚪APP Alfred and Helen Lamson/BORSF Endowed Professorship in Computer Science
小蝌蚪APP American Legion Hospital/BORSF Endowed Professorship in Health Care Administration
小蝌蚪APP Bella Nickerson Chappuis Abramson/BORSF Endowed Professorship in Cinematic Arts
小蝌蚪APP Coca-Cola/BORSF Endowed Professorship in Physics
小蝌蚪APP Dr. Paul A. Barefield/BORSF Endowed Professorship in Communication
小蝌蚪APP Dr. Tommy Comeaux/BORSF Endowed Professorship in Traditional Music IX
小蝌蚪APP Dr. Tommy Comeaux/BORSF Endowed Professorship in Traditional Music VIII
小蝌蚪APP Drs. Chuck and Sue Lein/BORSF Endowed Professorship in Management
小蝌蚪APP Florence Mauboules/BORSF Endowed Professorship in Business Administration
小蝌蚪APP Hubert 小蝌蚪APP淩ed小蝌蚪APP and Gertrude Dumesnil/BORSF Endowed Professorship in Economics
小蝌蚪APP M. Eloi Girard/BORSF Endowed Professorship in Engineering IV
小蝌蚪APP Mary and Dave Romagosa/BORSF Endowed Professorship in Business
小蝌蚪APP Mr. and Mrs. Tom Galloway/BORSF Endowed Professorship in Business III
小蝌蚪APP Mr. and Mrs. Tom Galloway/BORSF Endowed Professorship in Business IV
小蝌蚪APP Mr. and Mrs. E.P. 小蝌蚪APP淧at小蝌蚪APP Nalley/BORSF Endowed Professorship in Business Administration 2006-B
小蝌蚪APP Mr. and Mrs. E.P. 小蝌蚪APP淧at小蝌蚪APP Nalley/BORSF Endowed Professorship in Business Administration
小蝌蚪APP Philip and Jean Piccione/BORSF Endowed Professorship in Statistics III
小蝌蚪APP Philip and Jean Piccione/BORSF Endowed Professorship in Statistics IV
小蝌蚪APP Ruth Stodghill Girard/BORSF Endowed Professorship in Music IV
小蝌蚪APP South Louisiana MidWinter Fair Association/BORSF Endowed Professorship in Renewable Resources.