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Establishment and Naming of Endowed Chairs in PKU |
The donor can direct an endowment fund to any school, department, or research center to establish an endowed chair, with the profits earned from the investment of the principal used to provide annual support to the occupant of the chair.
The minimum required for establishing an endowed chair is, in general, RMB 5 million. The exact number varies in different schools, departments and research centers. The establishment and use of the endowment fund are clarified as follows:
1. The endowment can be made in the form of a RMB 5 million gift, with the profits earned from the investment of the principal used to provide annual support to the occupant of the chair.
2. The endowment can also be made in the form of regular gifts with at least RMB 500,000 per year in the total amount of RMB 5 million. 30%-40% of the annual gift is used to support the occupant of the chair, with the rest preserved as the principal to secure a permanent source of income.
The donor is entitled to name the chair in honor of the donor or an honoree the donor proposes and to specify the purpose of the endowment by naming it the "XXX Endowed Chair Fund" and the occupant of the chair the "XXX Endowed Chair Professor."
A contract can be signed between the donor and Peking University, where, according to the donor's instructions, principles for the use and management of the endowment, the selective procedures and evaluation of the occupant of the chair will be specified. PKUEF will provide professional financial management services and annual financial reports to the donor in accordance with relevant laws and regulations.
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Update time: 2008-10-30
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