The Foundation at the University of Louisiana at Lafayette recently inducted ten donors of new endowments into the university’s Hall of Honor.
Each endowment is represented with a plaque in the Hall of Honor at Martin Hall. These new plaques bring the total number to 212 plaques. Each bears the names of the donor and represents a contribution of $50,000 or more for endowed chairs, professorships, scholarships, athletics and faculty development funds.
Honored were the distinguished donors who established: the Atmos Energy Corporation Endowed Professorship in Business Administration, Paul W. Burdin Memorial Endowed Professorships in Business Administration and Education, Harold J. Callais Memorial Endowed Professorship in Electrical and Computer Engineering, E.J. Chatelain Endowed Professorship in Business Administration, Dr. Tommy Comeaux Memorial Endowed Professorship in Traditional Music VI, Thomas R. and Connie T. Galloway Endowed Professorship in Business II, Jesse and Irma Jewell Endowed Scholarship in Education, Lafayette General Medical Center Endowed Professorship in Nursing, Lafayette Oilman’s Sporting Clays Endowed Scholarship in Petroleum Engineering and Jim and Pat Prince Endowed Professorship in Accounting II.
The Distinguished Donor Hall of Honor recognizes private gifts given to the university. These gifts, usually in the form of endowed chairs, professorships or scholarships, generate funds in perpetuity. The principal from the endowment remains in a perpetual fund that continues to increase while earned income is distributed as dedicated for student scholarships, professor salaries or research supplements.
Through the Board of Regents Support Fund, the state matches funds raised by the university for endowed chairs and professorships. For every $600,000 UL Lafayette receives for an endowed chair, the state matches $400,000, bringing each chair to $1 million. Likewise, for every $60,000 UL Lafayette receives for a professorship, the state provides a $40,000 match bringing each professorship to $100,000.