The student government association president and the faculty chair also serve on the board during the duration of their one year term of office.
The money will be used for student fellowships, endowed faculty chairs, distinguished professorships, research programs and other projects.
He said he wanted to endow 100 faculty chairs and to earmark $150 million for scholarships.
The Lenfests created a challenge program to endow faculty chairs.
This means that Sarah Lawrence has less money to spend on everything from new faculty chairs to physical improvements.
A satire about the quest for an endowed faculty chair.
Four years ago, the university and private donors together created 32 new faculty chairs, each endowed with $1 million, in engineering and the physical sciences.
He was feeling stuck in a faculty chair.
The nursing alumni who met yesterday say they have long supported the university, giving it annual scholarship money and an endowed faculty chair.
Administratively, he has created committees that would promote better communication among and between faculty chairs and senior staff.