July 1, 2020
Bank of America has given $250,000 to UNC to create a scholarship endowment fund for military families. The fund will provide scholarship support for military families through the University’s Red, White and Carolina Blue Challenge....Read More
June 26, 2020
Florence Fearrington ’58, one of the preeminent rare book collectors of our time and a longtime supporter of Carolina, has donated nearly 4,000 books and objects valued at $6.2 million to University Libraries, where they...Read More
During his tenure as UNC System president, C.D. Spangler ’54 had the habit of donating his salary to the University system. Now, 10 years after he left the job, he is still giving.
In May, the C.D. Spangler Foundation made a donation of $26.9 million to help create as many as 96 endowed professorships across the 16 universities. Endowed professorships are used to promote and attract faculty who are leaders in their fields. The first one at Carolina will be established in the School of Education.
In 2007, the foundation has committed to provide $6.9 million – the full private funding required to endow one distinguished professorship on every UNC campus. Beginning in 2008, it will invest up to $20 million over five years to help each campus qualify for one additional endowed chair each year – 80 more professorships in all.
“This effort on the part of my family is intended to retain, reward and recruit good professors. We hope there will be positive results,” said Spangler, who served as UNC System president from 1986 to 1997.
The donation could increase the number of distinguished professorships in the UNC System by nearly one-third.
“The Spangler Foundation has offered this university – and this state – a once-in-a-lifetime opportunity,” said current UNC System President Erskine Bowles ’67. “It will allow all 16 of our university campuses to attract and retain the kind of talent we just can’t afford with state funding alone.”
State funding still will play a part, as the gift is reliant on the N.C. General Assembly providing state matching funds totaling $4.6 million annually through the Distinguished Professors Endowment Trust Fund.
Spangler stipulated that the professorships will not bear his name or the name of anyone in his family and that they will be in the high-need fields of teacher education, engineering, nursing, and the traditional arts and sciences.
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