An endowed chair is a faculty position that is supported by an endowment.
An endowed chair isn’t a seating option with big breasts.
Those two words have popped up a lot in relation to Boone Pickens’ most recent donation to OSU in the form of $100 million to be used for academics.
Gary Clark, Vice President for University Relations at Oklahoma State University, had a different idea of what an endowed chair is.
“Basically, an endowed chair is an endowment fund created to support a faculty position,” Clark said. “An endowment is an agreement where a donor gives money and the earnings are used to support the chair.”
Clark said the money from the endowment can be used to support a number of things.
“Expenses that can be paid from the endowment can be faculty salaries, graduate assistantships, scholarships and travel to conferences for the holder of the chair,” Clark said.
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