ENDOWED POSITIONS AWARD AND RENEWAL POLICY PURPOSE The purpose of this policy is to award endowed academic chairs and professorships in order to recognize, recruit, and retain the highest caliber faculty. These endowments are used to support and further our goals in the areas of patient care, research, prevention, and education. POLICY STATEMENT It is the policy of The University of Texas MD Anderson Cancer Center (MD Anderson) to support and further its goals in the areas of patient care, research, prevention, and education through the award of endowed academic chairs and professorships to eligible faculty. MD Anderson will establish criteria, review nominations, and award endowed academic positions through the Endowed Positions and Awards Committee (EPAC). SCOPE This policy applies to members of EPAC, candidates, and current holders of endowed academic positions. Compliance with this policy is the responsibility of all faculty, trainees/students, and other members of MD Anderson s workforce. TARGET AUDIENCE The target audience for this policy includes, but is not limited to, members of EPAC, candidates, and current holders of endowed academic positions. DEFINITIONS Endowed Position: A faculty position supported by an endowment from which distributions are dedicated to salary supplementation, research support, or other professional needs of a senior faculty member. Endowed Positions are designated as Professorships, Distinguished Professorships, Chairs, Distinguished Chairs, or Distinguished University Chairs. All endowed academic positions initially are awarded for a period of up to seven years and reviewed for renewal to coincide with the term of the awardee s tenure, regardless of the length of time the awardee has held the title before re-review for renewal. Page 1 of 8
Endowed Positions and Awards Committee (EPAC): Nine voting members appointed by the President who represent the basic science and clinical faculty and who currently hold an endowed position (see EPAC Membership). The function of the EPAC is to review all nominations for awards and to make recommendations to the President. With presidential approval, the recommendation is forwarded to the Board of Regents for action. Endowment: A perpetual fund that is established from the gift of a benefactor or through accumulated unrestricted gift funds. Unless specified by the donor or testator/trix, all endowments are considered to be institutional endowments and are not assigned to any specific department or division. Expenditures of Earnings: Expenditures of Earnings are governed by the Management and Expenditures of Endowment Funds Policy (UTMDACC Institutional Policy # ADM1210) which provides awardees with expenditure guidelines for endowment funds. PROCEDURE 1.0 Regents Rules Standards for Endowed Positions 1.1 Funding Levels: In accordance with the provisions of The University of Texas System Board of Regents Rules and Regulations, the following minimum funding levels for professorship and chair endowments have been established. A. Professorship $400,000. B. Distinguished Professorship $600,000. C. Chair $1,000,000. D. Distinguished Chair $2,000,000. E. Distinguished University Chair $3,000,000. 1.2 Completion of Funding: A. Endowed positions formally accepted and established by the Board of Regents are not eligible for award prior to the completion of funding. B. No endowed position will be awarded until the minimum funding of the corpus has been completed. 2.0 Common Trust Fund Maintaining Endowment Funds: 2.1 UT System maintains the Common Trust Fund in which all MD Anderson endowments are placed. The Common Trust Fund uses purchased units as a measure of fund equity ownership. Page 2 of 8
2.2 Funds are transferred to an endowment account within the Common Trust Fund and the corpus is used to purchase Fund units at their current price. The price of these units fluctuates with the value of the fund. 2.3 The Board of Regents reviews the payout from the Common Trust Fund annually. 3.0 Determining Eligibility for Award of an Endowed Position 3.1 General criteria include: A. Major impact in his/her field of specialization; B. Recognition as an authority by his/her peers; and C. Ability to meet all restrictions defined by the donor under the terms of the original gift. 3.2 Clinicians and Clinical Scientists criteria include: A. Recognition by peers for outstanding clinical ability; B. Demonstration of excellence in teaching; C. National recognition for clinical, translational, or basic research; D. A consistent record of scholarly publications in peer-reviewed journals; and E. Documentation of outstanding institutional academic service at MD Anderson or an equivalent institutional and national professional activity. 3.3 Basic Scientists criteria include: A. National recognition for research contributions; B. A consistent record of scholarly publications in peer-reviewed journals; C. A consistent record of peer-reviewed research funding; D. Demonstration of excellence in teaching graduate and/or postdoctoral fellows; and E. Documentation of outstanding institutional academic service at MD Anderson or equivalent institution and national professional activity. 4.0 Determining Eligibility for a Specific Endowed Position 4.1 Professorship and Distinguished Professorship criteria include: A. Significant contributions to research or patient care areas; B. Recognition for excellence from the institution and national organizations; C. Documentation of outstanding research and academic activity; and D. An excellent record of scholarly publications in peer-reviewed journals. Page 3 of 8
4.2 Chair and Distinguished Chair criteria include: A. All criteria for Professorship and Distinguished Professorship; B. Contributions that significantly impact cancer care or research, or that have a tremendous potential to make such an impact in the future; C. Recognition as a leader in his/her field and the production of research that is considered original and important by experts in the field; D. High level of national and international recognition (e.g., member of major committees for ASCO, AACR, ACS, NCI); and E. An excellent record of scholarly publications in top-ranking peer-reviewed journals. 4.3 Distinguished University Chair criteria include: A. All criteria for Professorship, Distinguished Professorship, Chair, and Distinguished Chair; B. Contributions that have significantly impacted cancer care research; and C. Receipt of the highest-level national and/or international awards from major organizations (e.g., Nobel Prize, General Motors Award, Lasker Award, National Academy of Sciences Award). 5.0 Prerequisites for Candidates of Endowed Positions 5.1 Standard Academic Rank and Tenure Status: A. Endowed positions may be held only by individuals who hold term tenure at MD Anderson. B. Candidates must have attained a rank of Professor with term tenure as a prerequisite to consideration. C. In rare cases, the rank of Associate Professor with term tenure may be considered. D. Recruits nominated for an endowed position as a condition of their offer letter must be reviewed and considered by the EPAC. 5.2 Time in Rank: A. Candidates who are Professors with more than three years of time in rank must: Meet all eligibility requirements (see Section 3.0); Serve at the rank of Professor at MD Anderson, in the UT System, or at comparable institutions for a minimum of three years; and Receive a simple majority vote. B. Candidates who are Professors with less than three years of time in rank may be nominated. Page 4 of 8
These candidates require unanimous vote of the EPAC before an award may be made. C. In rare cases, an Associate Professor with term tenure may be nominated if he/she: Has met the eligibility requirements; Has served at the rank of Associate Professor at MD Anderson, in the UT System, or at comparable institutions for a minimum of three years; and Receives unanimous vote of the EPAC, which is required before an award may be made. 5.3 Multiple Endowed Positions: A faculty member may hold only one endowed academic position at a given time. 6.0 Candidate Review Process 6.1 Submission of Nominations: A. Department Chairs, Division Heads, or the Provost and Executive Vice President (PRO/EVP) may submit nominations of eligible candidates. B. The nominator forwards to the Chair of the EPAC: A letter of recommendation; and A current curriculum vitae in institutional format. C. EPAC: The committee may request recommendation letters or equivalent information from other sources. 6.2 Committee Recommendations: A. EPAC forwards its recommendation to the President. B. Recommendations include input from the PRO/EVP. C. The PRO/EVP may request additional input from the Chief Medical Officer (CMO). D. The recommendations of the committee are advisory to the President. 6.3 President s Recommendations: The President s recommendations are forwarded to the Board of Regents for final action. 7.0 Salary Supplementation 7.1 Base Salary: The funding awards are built into the base salary of awardees. 7.2 Fixed Rate for Salary Increase. Page 5 of 8
7.3 The awardee receives salary increase from endowment funds at a fixed rate of: A. $3,000 for professorships and distinguished professorships; and B. $6,000 for chairs, distinguished chairs, and distinguished university chairs. 7.4 Salary for Recruits: Recruits who have received a nomination and subsequent award of an endowed position will have the applicable amount of their base offer salary funded from the endowment funds. 7.5 Relinquishing an Endowed Position: If a faculty member relinquishes an endowed position, but remains as a full-time faculty member, a new source of funds will be used to cover the applicable amount previously paid from the endowment. 8.0 Renewal of Endowed Positions 8.1 Review Cycle: Endowed positions will be reviewed for renewal by EPAC at the time of term tenure renewal and when a faculty member assumes a major non-academic role within the institution (within two years). 8.2 Criteria for Renewal: A. All criteria defined at the time of initial award continue to be met. B. The holder of an endowed position must describe how the position and funds have been used to further the mission and vision of MD Anderson. 8.3 Documentation for Renewal: Individuals to be reviewed for continuation of their endowed position will be contacted by EPAC and will be requested to provide: A. A current CV; and B. A summary of how the position and funding was used to further the mission and vision of the institution. 9.0 Vacant Endowed Positions Earnings After Vacating an Endowed Position: 9.1 Earnings may not be encumbered beyond the end of the fiscal year in which the awardee terminates employment with MD Anderson or relinquishes an endowed position. 9.2 The EPAC may recommend to the President that accumulated earnings from vacant endowments be used to create additional endowed academic positions. 9.3 Vacated/relinquished positions and all related endowment funds are returned to the President on the date the incumbent vacates the position. He/she may retain the title of the endowed position as emeritus/emerita at the discretion of the President. Page 6 of 8
ATTACHMENTS / LINKS EPAC Membership (Attachment # ATT1658). RELATED POLICIES Management and Expenditures of Endowment Funds Policy (UTMDACC Institutional Policy # ADM1210). JOINT COMMISSION STANDARDS / NATIONAL PATIENT SAFETY GOALS None. OTHER RELATED ACCREDITATION / REGULATORY STANDARDS None. REFERENCES None. Page 7 of 8
POLICY APPROVAL Approved With Revisions Date: 01/25/2011 Approved Without Revisions Date: Implementation Date: 01/25/2011 Version: 19.0 RESPONSIBLE DEPARTMENT(S) Academic & Visa Admin: Faculty Academic Affairs Page 8 of 8