Bicentennial Professors Fund

Bicentennial Professors Fund

SIF136, SIF154, SIF161 Bicentennial Professors Fund

Project Manager: Mark Luellen

The purpose of this award is to establish a matching fund to incentivize donors to create endowed professorships.

Approved: December 2017 (first award of $75M), April 2018 (second award of $20M), December 2018 (third award of $75M), December 2019 (fourth award of over $21M new funding)

Project Dates: 12/09/2017 – 12/31/2022

Funding Awarded:  Up to $191,110,220

Executive Summary

As it prepares to enter its third century of offering one of the best educational experiences in the nation, the University of Virginia is making bold commitments to secure its prominence in the world of higher education. Among them is the Bicentennial Professors Fund. The investment will enable the creation of an estimated 70 endowed professorships, covering not only the salaries for emerging, mid- career and distinguished scholars, but other essential expenses such as the recruitment of graduate students and the acquisition of laboratory space. UVA Today story from March 2020

Current Status: Active

Progress

An update on this award was provided in March of 2020, and the PAC is scheduled to formally assess progress at their December meeting. As of March, the University had raised $207.5M for this initiative in signed and verbal commitments, with a corresponding SIF match of $133.6M. Approximately 100 professorship accounts had been opened, and eleven professorships had been fully established.

For the page on the Bicentennial Scholarships, please make this correction in the Executive Summary: the SIF will match up to $200M (it says $100M), and please also add a Progress section. Here is proposed text:

The PAC is scheduled to formally assess progress on this award at their December meeting. As of June 2020, the SIF had matched $106.6M for this initiative.