Shelton to Use Private Funding From 1885 Society for Faculty Retention
University of Arizona President Robert N. Shelton has selected faculty recruitment and retention as the funding priority for a donor-supported discretionary fund.
Shelton has created a faculty chair position that will rotate throughout the University. The initiative is being funded by the 1885 Society, a UA donor group whose members are committed to providing annual cash gifts of $10,000 or more to enable Shelton to respond to changing needs of the University.
"Recruiting and retaining star faculty are top priorities, and even more critical in our current budget crisis," Shelton said. "The generous gifts from members of the 1885 Society allow us to leverage our resources to reward faculty members during these challenging times."
The society was founded in the spring of 2008 and has about 25 charter members. This is the first Shelton initiative backed by the group.
Shelton expects to appoint the first 1885 Society presidential chair in April. The chair holder will receive $40,000 annually for three to five years.
"Forty thousand dollars in cash gifts provide the same annual funding as a million dollar endowment," Shelton said. "This is a creative solution for us to continue to provide incentive funding to faculty until investment markets rebound."
Deans and unit directors are invited to submit nominations for the presidential chair, which will be selected by Shelton and Provost Meredith Hay. Emphasis will be placed on the demonstrated abilities of the faculty member in the areas of research, teaching and leadership.
The UA Foundation is one of the largest foundations in Arizona, raising more than $100 million annually. Managing an asset base of nearly $500 million, the UA Foundation has helped generate more than $2 billion in private funding to support the UA. Learn more about the 1885 Society, named for the year the University was founded, by visiting the UA Foundation online or contacting Mark Harlan, foundation senior vice president, at 621-9054.