Two members of the Board of Visitors of Trinity College donated $10 million this week to the University's endowment-the largest gift in the history of the University specifically aimed at supporting undergraduate teaching.
The gift, donated by Anne and Robert Bass, will establish a set of at least 20 endowed chairs for University professors by offering a one-to-three fund-matching incentive.
For example, although a full professorship at the University currently requires a minimum endowment of $1.5 million, such a position could be created with just 75 percent of this amount-or $1.1 million-and the remaining 25 percent would be provided by Bass donation. These chairs will be filled on five-year rotating basis in order to recognize a broad range of faculty members, said President Nan Keohane.
The Bass gift also establishes a $1.4 million start-up fund that will support chairs as the University seeks donors willing to fund the remaining two-thirds of the endowment for each chair. That money will also support new initiatives in undergraduate education, including freshman seminars and "capstone" projects for seniors.
"This gift is so extensive in its implications for Duke," Keohane said. "It includes several different features that are all very important that lead to the long-term goal of strengthening undergraduate education and do so in a very immediate way."
Keohane added that the endowed professorships would be dedicated to some of the University's strongest teacher-scholars. "These are people that have proved that you can do it both ways," Keohane said. "You can be well-recognized for research that is truly distinguished and you can be excellent teachers."
The Board of Trustees honored the Basses, who are philanthropists from Fort Worth, Texas, at a Friday-evening dinner.
"Anne and I are pleased to support Duke's commitment to enhance the quality of undergraduate education," Robert Bass said in a statement. "The best teachers are scholars who are engaged in research that will advance their disciplines and are able to impart that excitement to their students."
Keohane said the gift will foster a dialogue among the endowed professors by creating a group called the Society of Bass Fellows, which will provide a means for these professors to discuss ways in which the University can improve its commitment to undergraduate education. She added that the chair rotation schedule will ensure the inclusion of those who are immediately involved in pertinent issues.
John Koskinen, board chair, said the gift underscores the University's emphasis on undergraduate education. "In some ways we hope it will be a model for other universities to take a look at," he said, "because the age-old tension has been how do you match research and teaching at the same time in a major research university."
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