School fund set for $50m

Harvard University is set to announce today that a group of donors has created a $50 million fund to provide matching donations to people who want to endow faculty chairs or provide other support for professors.

Since it takes about $4 million to create an endowed professorship, the new professorship challenge fund will provide $1 million to match $3 million donations, Harvard said in a press release.

Donations of $1.5 million for a faculty development fund will be matched with $500,000 from the challenge fund.

Faculty development funds will be used for purposes ranging from laboratory setup for science professors to assistance to untenured professors to do work they need to earn tenure.

Marcella Bombardieri