The University
of Kentucky announced today it has met its goal to raise $66.7 million in private gifts
matching the Research Challenge Trust Fund incentive appropriated by the state in 1998.
With new state and private research funds totaling $133.4 million, UK has nearly tripled
the number of its endowed chairs and doubled the number of endowed professorships in less
than one year.New donations and pledges totaling $7.7 million will be submitted
to the UK Board of Trustees for approval at its meeting Tuesday, June 8. The new donations
bring the total matching gifts and pledges raised by UK to $67.8 million.
UK has advised donors that $66.7 million of their gifts are eligible for the state
match. Some of the donations are pledges that will be paid over a specific period of time.
"The generosity of UK's alumni and friends in this effort clearly proves
that when the state is committed to funding higher education in Kentucky, private funds
are available to add an extra margin of excellence," said UK President Charles T.
Wethington, Jr.
New donations range from a $25,000 gift from the Society of Women Engineers to
establish an engineering fellowship to $1 million from the Good Samaritan Foundation,
Inc., to establish two endowed chairs.
Endowed chairs are coveted faculty positions used to attract world-class scholars and
researchers to UK. They require an investment of at least $1 million each. The university
had 23 endowed chairs as of June 1998.
With the boost in research money from the challenge fund and matching private
donations, the number of endowed chairs at UK has increased to 63 as of May 31, 1999.
Endowed professorships, which require a minimum $100,000 investment, rose from 52 to 118
during this same period.
"Using this new infusion of research money to attract world-class faculty members
to the university will dramatically impact the research program of the university, the
academic success of our students and the economic well being of the entire state,"
Wethington said.
"We are grateful to Gov. Paul Patton and the members of the Kentucky General
Assembly for giving higher education in Kentucky this opportunity. We support the
Governor's commitment to renew the Research Challenge Trust Fund in 2000," Wethington
continued.
Following is a list of the newest donations to be submitted to the University of
Kentucky Board of Trustees Tuesday, June 8:
Society of Women Engineers, $25,000; Buckhorn Foundation Inc., $150,000; Jane
Stephenson, $25,000; Alcan Aluminum Corp., $300,000; Commonwealth Industries Inc.,
$250,000; Tennessee Magnesium Partners, $250,000; Logan Aluminum, $200,000; McCook Metals,
$125,000;
NSA Division of Southwire Co., $125,000; IMCO Recycling Inc., $75,000; The Aluminum
Association, $25,000; Hydro Aluminum, $25,000; Metallurgical Services Co., $25,000;
Midwest Metals Corp., $25,000; Wagstaff Inc., $25,000; Cardinal Hill Rehabilitation
Hospital, $2 million;
Anonymous, $100,000; Good Samaritan Foundation Inc., $1 million; J.J.B. Hilliard, W.L.
Lyons, Inc., $500,000; Kentucky-American Water Co., $50,000; Paul Chellgren, $100,000;
Marcia Radosevich, $100,000; Harper Industries Inc., $200,000; Friends of Wendell Ford,
$300,000; Helen Thacker Hill, $100,000; UK Research Foundation, $125,000;
Kentucky Medical Services Foundation, $400,000; Center on Aging Foundation, $1.075
million.
Total, $7.7 million.
