A Distinguished Professorship (DP) endowment may begin spending prior to the state match being received provided the requirements established by the UNC System have been met. Those requirements are summarized below. Additional detail is available on FAI’s website.
- All required private contributions have been received.
- The Chancellor’s plan has been approved by the UNC System President.
- The donor(s) has provided written permission allowing spending prior to the state match being received. Note – standard gift agreement language was updated in 2015 to include donor permission allowing spending prior to state match.
- The professorship may not carry the title of “”Distinguished Professorship”” until the state match is received.