Repository: UIHistories Project: Board of Trustees Minutes - 1980 [PAGE 184]

EXTRACTED TEXT FROM PAGE:

174

BOARD OF TRUSTEES

[February 21

Establishment of Robert Wood Keeton Professorship of Medicine, Medical Center

(7) Funds have been received by the University for support of a professorship in the Department of Medicine, Abraham Lincoln School of Medicine, to be known as the "Robert Wood Keeton Professor of Medicine." The late Robert Wood Keeton retired as professor of medicine and head of the department on August 3 1 , 1951, having served the University of Illinois for thirty-five years. Dr. Keeton died on January 22, 1957, and his wife, Emily A. Keeton, died February 24, 1970. The major sources of funds for the professorship are distributions received by the University from the Robert Wood Keeton Insurance Trust, dated August 15, 1930, as amended October 10, 1956, created by Dr. Keeton, and from the exercise of a power of appointment by Mrs. Keeton under the terms of Dr. Keeton's will. Additional funds have been received from friends and colleagues of Dr. Keeton. As of June 30, 1978, the total fund, including interest, amounted to $174,975. Under the terms of the insurance trust, the fund is to be used to supplement the salary received from "University funds" by a "man" in the Department of Medicine who has shown outstanding capabilities as an investigator and a clinical teacher. The appointee is to be designated the "Robert Wood Keeton Professor of Medicine" and is to receive from University funds an amount equal to the highest salary paid any professor in the Department of Medicine, other than the head of the department or a professor whose salary has been increased for specific reasons such as special assignments. The fund is to be used to provide a yearly "bonus payment" to the appointee as determined by a specified "committee," a payment which may be discontinued in the judgment of the committee when the appointee's conduct or other reasons indicate. If the fund is inadequate to continue the yearly supplement to the incumbent until retirement, the University, on the request of the committee, will pay the supplement from University funds. It is proposed that the fund be invested as a quasi-endowment, with the income available for application in accordance with the terms of the governing document. It is further proposed that the committee responsible for administration of the gift and for recommendations of appointments to the professorship be composed of the chancellor at the Medical Center campus, as chairman, the executive dean of the College of Medicine, the dean of the Abraham Lincoln School of Medicine, and the head of the Department of Medicine in that school. T h e university counsel has advised that in his opinion the context in which the words are used in the insurance trust permits the following: (a) the composition of the "committee" as proposed; (b) an interpretation of the words "University funds" for salary and salary comparison purposes to mean funds appropriated to the University by the state of Illinois; (c) an interpretation of the word "man" to include male and female persons; and (d) the treatment of the "bonus payments" as a part of the appointee's total compensation arrangement with the University, to be administered in accordance with regular University policies and procedures. The board has previously authorized the university counsel to obtain a judicial construction of the trust instrument, but he has stated that in his opinion the establishment of the professorship and the administration of the gift in the manner proposed and within the interpretations indicated may proceed without the necessity of such judicial proceedings. The chancellor at the Medical Center campus has recommended the establishment of the Robert Wood Keeton Professorship in Medicine in accordance with the foregoing. The vice president for academic affairs and the vice president for administration concur. I recommend approval. O n m o t i o n of M r . H a h n , this r e c o m m e n d a t i o n w a s a p p r o v e d .