Trustees Authorize Pursuing Ad Signage, Other Options for Athletics Revenue
Carolina moved a step closer to the possibility of advertising signage in the University's largest sports stadi-
ums in late July when the Board of
Trustees authorized the chancellor to
determine the best way to handle the issue
of revenue enhancement for the athletics
The trustees' decision came after its Uni-
versity Affairs Committee voted unani-
mously to recommend to the full board that
"limited and tasteful" signs in Kenan Sta-
dium and the Smith Center be permitted.
Last year, for the first time in 15 years,
the athletics department helped the Educa-
tional Foundation, or Rams Club, absorb a
shortfall. The shortfall had been projected
at $300,000. Additional Rams Club fund
raising last fall brought that figure down,
and the athletics department made up the
difference. Final year-end numbers were
not available in mid-August. The estimated
deficit for the current year is $600,000.
Tuition increases have been cited as a key
reason for the rise in scholarship costs.
Diane Joyce ' 88, finance director and
general counsel for the Rams Club, said
continued on page 5
If permanent ads do come to the Smith Center, above, and Kenan
Stadium, UNC leaders have Insisted that they be 'limited and tasteful.'
State Matching Money Completes 26 UNC Professorships
In an effort to catch up on numerous professorships awaiting a state match, the N.C. General Assembly recently
earmarked $10 million for the Distin-
guished Professors Endowment Trust Fund.
The money will go to all UNC System
institutions with endowed professorships for
which the state matches private donations.
Chapel Hill is getting $7.5 million of it.
The money will enable the University
to fully endow 26 scholarships that had
been waiting for the state match. "We had
gotten to the point where we were at a
critical stage with professorships [waiting]
in the queue," said Roy Carroll, retired vice
president for academic affairs with the
UNC System and now a consultant. "It
was getting embarrassing with the donors."
The other good news, Carroll said, is
that the Legislature has set aside $8 million
a year for the 16 UNC System campuses
in recurring funds for future matches. That
fund is up from $2 million.
The Carolina professorships now fully
funded run the gamut from the College of
Arts and Sciences to the business and phar-
macy schools. The University still has some
professorships awaiting state matches, but
Carroll said those had not yet received the
full portion pledged by the donors.
The fund was created in 1985 to help
attract and retain top faculty members.
Gifts of $333,000 and up qualify for
matching grants of$167,000 to establish
endowments of at least $500,000; gifts of
$666,000 and up qualify for matching
grants of$334,000 to create endowments
of at least $1 million.
Elizabeth Dunn ' 85 (PhD), UNC's
senior associate vice chancellor for devel-
opment, said she was thrilled to learn the
state is going to provide a push over the
finish line for the 26 Carolina professor-
ships in waiting.
"Imagine an airport and planes are just
kind of lined up on the runway to take
off," she said. "It's not a stagnant thing ...
the engines are revving."
UNC has created more than 450 pro-
fessorships, of which 80 have qualified for
state matching funds. One of the key goals
of the Carolina First capital campaign is to
establish 200 new professorships; that figure
now stands at 126.
CAROLINA AL UMN I R EVIEW