The UA College of Pharmacy is well on its way to establishing its third* endowed faculty chair, one that will support the current dean and future deans of the college.
A minimum of one million dollars is needed to establish an endowed chair at the University of Arizona. In 2013, the college received a lead gift of $750,000 for the dean’s chair, and further commitments of an additional $100,000. Given the generosity of the first donors, the chair is expected to be fully funded at one million dollars by December 2014.
Endowed chairs are used to recognize top faculty or to recruit and retain professors and leaders from other institutions. They help faculty and administrators pursue excellence and add to the distinction of the college. In endowed gifts, the principal is invested in perpetuity and only the interest generated on the principal may be spent. The interest on the new dean’s endowed chair will be used at the discretion of the dean to enhance and create initiatives that advance the college, particularly those related to academic excellence and pioneering research. The fund may not be used to augment the dean’s salary.
“The very generous lead gift for this endowment comes to us from the Frederick Gardner Cottrell Foundation, which is an affiliate of Research Corporation Technologies,” says Shannon LeJeune, director of development. “RCT provides early-stage funding and development for promising biomedical and medical device companies and technologies. Our dean, Lyle Bootman, has served on the RCT board for several years, and RCT wanted a way to recognize his leadership and contributions to the advancement of their company, as they have done for other dedicated board members.
“The gift was made with the stipulation that Dr. Bootman choose the beneficiary. He asked that the gift be designated to the college to endow its deanship. At the request of the Cottrell Foundation, the endowment was named in honor of Dr. Bootman.”
LeJeune and Jack Cole, professor and dean emeritus, co-chair the campaign to complete the funding for the J. Lyle Bootman Endowed Dean’s Chair in the College of Pharmacy. Donations have already been received from two members of the college’s National Advisory Board. The board’s chair, Rick Katz from the Class of 1970, has asked for 100 percent participation from the NAB.
“Support such as ours speaks volumes to our faculty, students, alumni and staff,” Katz wrote to fellow NAB board members recently. “It says, ‘We believe in you and have faith in your accomplishments and goals.’”
LeJeune points out that the establishment of the endowed dean’s chair will add to UA COP’s prestige nationally and internationally.
“This will help to elevate us among our peers,” she says. “The colleges of pharmacy at UC San Francisco, University of Southern California and University of Utah have endowed dean’s chairs, but many fine schools, including University of Colorado, University of Illinois at Chicago, University of Minnesota and University of Washington, do not. This new chair will help set us apart, and, when the time comes, may help us recruit and retain great future deans.”
For more information about the campaign for the J. Lyle Bootman Endowed Dean’s Chair in the College of Pharmacy, contact LeJeune.
*The College of Pharmacy also has the Howard J. Schaeffer Endowed Chair in Pharmaceutical Sciences, currently held by Laurence Hurley, and the R. Ken Coit Endowed Chair, currently held by Theodore Tong.