(a) The chancellor, president, director or other chief executive officer of an eligible educational institution for which a qualifying gift has been received by the endowment association shall provide from the eligible educational institution‘s operating budget a salary and full-time position for the endowed professorship. In the manner prescribed by policies adopted by the state board of regents, the chancellor, president, director or other chief executive officer of an eligible educational institution having an endowed professorship under this program shall report annually to the state board of regents a full accounting of the amounts and purposes of all expenditures of the moneys transferred to the faculty of distinction matching fund of the eligible educational institution under this act and the moneys realized from the interest earned on the qualifying gift held in trust by the endowment association for such endowed professorship during the preceding state fiscal year.

(b) The state board of regents shall develop and conduct an ongoing assessment of the Kansas partnership for faculty of distinction program which shall be commenced on or before the first day of the first state fiscal year during which the total of all transfers from the state general fund for earnings equivalent awards for qualifying gifts pursuant to Kan. Stat. Ann. § 76-775, and amendments thereto, is equal to or greater than $4,000,000. The assessment shall include evaluations of (1) the effectiveness of the program to increase private gifts and to attract and retain professors of distinction for eligible educational institutions, (2) the economic impact of the program on eligible educational institutions and the state, and (3) other appropriate factors specified by the state board of regents. After commencing the assessment of the program, the state board of regents shall annually present a report on the assessment to the legislature at the beginning of each regular session.

Terms Used In Kansas Statutes 76-776

  • Board of regents: means the state board of regents provided for in the constitution of this state and described in article 32 of chapter 74 of Kansas Statutes Annotated and amendments thereto. See Kansas Statutes 76-711
  • Eligible educational institution: means any state educational institution, municipal university, community college, technical college or vocational education school under the governance or coordination of the state board of regents. See Kansas Statutes 76-773
  • Endowed professorship: means the position of a professor of the faculty of an eligible educational institution for which a qualifying gift is received by the endowment association of the eligible educational institution in accordance with the Kansas partnership for faculty of distinction program. See Kansas Statutes 76-773
  • Endowment association: means :

    (1) For the Fort Hays state university, the Fort Hays state university foundation;

    (2) for the Kansas state university of agriculture and applied science, the Kansas state university veterinary medical center, and the Kansas state university polytechnic campus, the Kansas state university foundation;

    (3) for the Emporia state university, the Emporia state university foundation;

    (4) for the Pittsburg state university, the Pittsburg state university foundation;

    (5) for the university of Kansas and the university of Kansas medical center, the Kansas university endowment association; and

    (6) for the Wichita state university, the Wichita state university board of trustees and the Wichita state university foundation. See Kansas Statutes 76-756

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Institution: means any institution under the control and supervision of the state board of regents. See Kansas Statutes 76-739
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Program: means the Kansas partnership for faculty of distinction program established by this act. See Kansas Statutes 76-773
  • Qualifying gift: means a monetary donation which (1) is a single monetary donation from a single donor or entity or is a joint monetary donation from or on behalf of two or more donors or entities that are directly related or associated or that otherwise are determined by the state board of regents to have common characteristics or similarities such that the joint monetary donation conforms with the purposes of the program, (2) is made in cash or the equivalent of cash, (3) has been received by the endowment association of an eligible educational institution from a single donor or entity for the purpose of endowing a professorship at the eligible educational institution in accordance with the program, and (4) is:

    (A) For community colleges, technical colleges and vocational education schools, an aggregate amount of at least $50,000;

    (B) for Fort Hays state university, Emporia state university and Pittsburg state university, an aggregate amount of at least $200,000;

    (C) for Washburn university, an aggregate amount of at least $300,000;

    (D) for Wichita state university, an aggregate amount of at least $350,000; and

    (E) for the university of Kansas, the university of Kansas medical center and Kansas state university of agriculture and applied science, an aggregate amount of at least $500,000. See Kansas Statutes 76-773

  • State: means the state of Kansas. See Kansas Statutes 76-779
  • State board: means the state board of regents. See Kansas Statutes 76-7,126
  • This act: means the university research and development enhancement act. See Kansas Statutes 76-779
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