Public university leadership has long recognized that in the face of declining state funds, private support is essential to maintain programmatic strength and retain the best faculty. Three contributors to the Eller College of Management have answered that call, stepping up with a combined $4.5 million in endowed support for faculty chairs.
The Emerald Foundation has established the Frances McClelland Chair in Accounting, the Tyler family has established the Tyler Family Endowed Chair in Finance, and the Cottrell Foundation has established the Munsinger Chair in Entrepreneurship and Innovation.
“We are grateful for the support of the Emerald Foundation, the Tylers, and the Cottrell Foundation, especially in the current economic climate,” says Eller College dean Paul Portney, holder of the Halle Chair in Leadership. “So much of the College’s success is dependent on a strong faculty, which is focused intensely on research and teaching at the highest levels. It’s clear that our alumni and friends understand the challenges we face and are invested in our long-term success.”
The Frances McClelland Chair in Accounting is named in honor of the late Frances H. McClelland, a 1944 graduate of the College who co-owned her family’s business, Shamrock Food Co., with her brother Norman McClelland (BSBA ’49), the company’s chairman. Two buildings on the UA campus bear the McClelland family’s name in honor of their philanthropic support: McClelland Hall, home of the Eller College, and McClelland Park, home of the John and Doris Norton School of Family and Consumer Sciences.
The Tyler Family Endowed Chair in Finance was established by Kerry and Charles Tyler, who both received undergraduate degrees from the University of Arizona. Kerry graduated from the Eller College in 1992, majoring in accounting and finance. Charles graduated from the College of Arts and Sciences in 1991, majoring in economics and political science.
The Munsinger Chair in Entrepreneurship and Innovation is named for Gary M. Munsinger, who served in significant roles at the UA from 1962 to 1983, including senior vice president for resources and vice president for planning and budget. He also served as a professor of marketing from 1971 to 1984, and in the roles of associate dean (1967-1971) and acting dean (1971-1972) of the Eller College. The Munsinger Chair in Entrepreneurship joins three other endowed chairs — the James and Pamela Muzzy Chair in Entrepreneurship, the Anheuser-Busch Chair in Entrepreneurial Studies, and the Thomas R. Brown Chair in Technology and Management — whose holders are focused on advancing research in entrepreneurship.
The three newly funded positions at Eller bring the total to 90 the number of chairs at the UA. Since 2006, private donors have funded 22 endowed faculty positions, one of the most prestigious honors the University can bestow. An endowment is a gift where the principal is invested in perpetuity to provide annual cash support; the chair holder can use the annual payout for a variety of purposes, including salary, research, and general department support. A gift of $1 million or more is required to establish an endowed chair.