Endowed clinical professorships nourish some of the most innovative, significant, and distinguished work by members of the Harvard Faculty of Medicine in our affiliated hospitals and institutions. The appointment to a named, endowed professorship is not only one of the most important honors the University can bestow upon a faculty member, it also provides that faculty member with an enduring resource to sustain his or her teaching and research. The first endowed professorships in medicine were gifted to Harvard University by Ezekiel Hersey in 1772, ten years before the Faculty of Medicine convened. Since then, thousands of donors, through gifts large and small, have created more than 250 named endowed professorships for the Faculty of Medicine.

Cost

$3,300,000 $3,000,000 - Endowment $300,000 - Dean's Fund

Timetable

Donors have five years to complete the funding of a professorship from the opening of the account with a minimum gift of $100,000. Standard terms for an endowed professorship provide that if the full amount of the funding is not secured within five years, the fund may be redesignated a Teaching and Research Fund for support of activities closely related to the original intent of the donors.

Activation

The income stream from the endowment of a professorship does not begin until the academic year following the June 1 that the full amount of the endowment funding, plus the contribution to the Dean's Fund, is in place; the income stream in the first year will be pro-rated according to the number of months prior to June 1 that the full funding was in place. Clinical professorships may be initiated, and the first incumbent named, when 50% of the endowment fund and the contribution to the Dean's Fund have been secured, provided that certain conditions have been met, primary among which is the guarantee of the salary and fringe benefits of the incumbent by the Trustees of the affiliated hospital.

Naming Opportunities

The donor has the opportunity to designate an appropriate name for the professorship, pending its acceptance by the University.

Income

The income stream that is realized from an endowed professorship fund is set by Harvard University policy. Remaining income is returned to the principal to ensure the continued growth and value of the endowment over time.

Designation

Many donors wish to designate the area of medicine or medical science supported by the endowed professorship that they are establishing. To as great an extent as possible, Harvard Medical School encourages donors to direct their gifts towards areas which are deemed to be of the highest priority to the School and its affiliated hospitals. In order to secure the usefulness of the gift to future generations, Harvard Medical School and Harvard University also encourage sufficient flexibility in the terms of the professorship to accommodate future advances in medicine and medical science.

For More Information

For more specific information on endowed professorships visit the Department of Financial Operations and Analysis website. To discuss endowed professorships, please contact: Mary Moran Perry Director of Gift Planning Harvard Medical School 401 Park Drive Boston, MA 02215 ((800) 922-1782, Ext. 4-8449 or (617) 384-8449