Endowed Faculty Chair Program
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In the fall of 1990, the Endowed Chair Program was established at Westchester Community College by President Dr. Joseph N. Hankin to recognize outstanding faculty, to provide funds for professional development, and to promote the College. This is a significant area of need because professional development is not adequately supported by county and state dollars. There are currently 39 Endowed Faculty Chairs.
What Endowed Faculty Chairs do:
The goal of the Endowed Faculty Chair Program is to recognize the ongoing contributions and excellence of individual WCC faculty members and provide funds for their own professional development and that of their respective departments. Unlike endowed faculty chairs at most other colleges and universities, the income generated by the endowment does not supplement the recipient’s salary, but provides funds to be used for attending seminars and conferences, purchasing equipment or publications for their department, and sponsoring an annual lecture which is open to the public.
How to establish an endowed Faculty Chair
A named faculty chair at Westchester Community College can be established for $75,000. There is no maximum. The chair is named for the donor who may be an individual, a couple, a business or a corporation. The donor has an opportunity to determine, in consultation with the President, the curriculum area he or she would like to support. The faculty member is obliged to deliver an annual lecture in his or her area of interest and expertise or bring in a lecturer from another institution. These free lectures are given in the name of the donor (for example: the John and Mary Donor Health Science Lecture) and are open to students, faculty, staff, and the community.
The remainder of the proceeds is divided among the faculty member and his or her department and may be used for professional conferences and workshops or acquisition of materials the College has been unable to provide (journals, books, films, computer software, etc.) but deemed necessary by the person and his or her department.
If the faculty member holding the chair leaves the College, another faculty member is appointed by the President. If, at that time, the donor wishes to rename the chair in another field, he or she may do so.
Contributions made to the Westchester Community College Foundation are fully tax deductible to the extent permissible by law, as the Foundation is a 501(c) (3) corporation. The Foundation’s funds are invested and managed professionally by several financial institutions. The income varies from year to year depending on the market value and the payout percentage set by the Finance Committee each year.
Gifts to permanent endowment funds of WCC Foundation are governed by New York state law which dictates that annual distributions from permanent endowment funds are to be formulated using a series of prudent factors contained in the law. While this law also allows for limited invasion of principal where warranted, which may well occur from time to time depending on market conditions, it is the WCC Foundation Board of Director’s policy to maintain and grow these funds over time.