Philanthropist Conrad Prebys has donated to the $1 million Conrad Prebys Presidential Chair in Music to support scholarly activity and graduate fellowships in the chair holderís department. His gift of $500,000 was matched by the University of California to encourage donors to establish endowed faculty chairs. The chair holder has not yet been selected.
In July 2014, UC President Janet Napolitano announced the Presidential Match for Endowed Chairs that initially allocates $4 million per campus as an incentive for donors. It is funded through the Presidential Endowment Fund, a source of private donations. Each Presidentís Match will be $500,000. Campuses must raise at least $500,000 per chair to qualify for the match.
Endowed chairs will provide a dedicated source of funds, in perpetuity, for the chair holderís scholarly activities as well as support for faculty salaries and graduate fellowships.