Board of Governors, June 28, 2000 - APPENDIX II, Annex 3-D
Provisions Relating to the
The Donald G. and Elizabeth R. Ness Estate Faculty Fellowship in Entrepreneurship
At Foundation 澳门六合彩开奖预测
| Name: | The Donald G. and Elizabeth R. Ness Estate Faculty Fellowship in Entrepreneurship at the Richard Ivey School of Business. |
| Donor and Funding: | This endowed Faculty Fellowship is made possible by a generous donation from The Estate of Donald G. and Elizabeth R. Ness in the amount of $600,000. The funds will be held by Foundation 澳门六合彩开奖预测 for the exclusive use of the Richard Ivey School of Business. |
| Annual Spending: | Approximately $30,000 will be provided to the selected Fellow each year as a salary supplement. The amount available for spending each year will be in accordance with the Foundation's Investment Payout Policy as it relates to endowed funds, and which may be amended from time to time. A portion of the total return derived from the fund will be capitalized to continually enhance the initial value of the Fellowship and protect the value against inflation, in accordance with policies from time to time adopted. |
| Effective Date: | August 2000 |
| Purpose: | The funding will be used to provide a salary supplement for the incumbent and to support the expenses of research and case writing. Within these general guidelines, the use of the funds should be as flexible as possible with the proviso that the incumbent will consult with the Dean of the Richard Ivey School of Business in determining the exact allocation. |
| Criteria: | Selection of the Faculty Fellow will be
administered by the Dean of the Richard Ivey
School of Business. The selection and
administration of the Fellow will be in keeping with
the University's policy on Faculty Fellows.
Each Fellowship will be for a 1-year term, renewable at the discretion of the Dean. The stipend provided to the holder of the Fellowship will terminate upon completion of the term. |
| Reporting: | The Richard Ivey School of Business agrees to provide a formal annual report to the Class Representative of the MBA Class of '89 or others as instructed, regarding all activities of the holder of the Fellowship and the financial status of the term fund. |
| Permission to Alter: | If it becomes necessary to make changes to the terms of these provisions, any such changes will be made in consultation with the Estate Representative of the Estate of Donald G. and Elizabeth R. Ness and the Dean of the Richard Ivey School of Business. |