Agenda Item No. VI. A. 1.

Washburn University Board of Regents


Renaming the Clarence W. King Endowed Chair in Finance and Real Estate


The School of Business requests that the Clarence W. King Endowed Chair in Finance and Real Estate be changed to the Clarence W. King Endowed Chair in {discipline of holder}. This change will remove the University's requirement that the chair be filled by a faculty member in the disciplines of finance and real estate, thereby allowing the School more flexibility in filling faculty staffing needs.

According to a November 12, 1981 memorandum, the University established the Clarence W. King Chair in Real Estate and Finance. The Chair was filled by Dr. Mary Alice Hines, a Ph.D. in finance with a research and teaching interest in real estate. Dr. Hines retired in May 2004. There are no donor intent issues involved.

The purpose of the King Chair is to recruit and/or retain outstanding teachers and scholars in the business disciplines. Income from the King Endowment would be used to provide a salary supplement and professional development funding for the Chair holder. The chair holder would hold the position for a specific time period, with the possibility of renewal for additional term(s), subject to approval of the Dean and VPAA.


The approximately $25,000 generated annually by the endowment will be used as described above. The balance of the Hines' line (i.e., the general fund portion) will be used to fund a faculty position in the School of Business.


President Farley recommends renaming the Clarence W. King Endowed Chair in Finance and Real Estate.

___________________ ___________________________

(date) Jerry B. Farley, President

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