The College of Business received an endowment for professorship from one of its former students.
Auburn alumna of 1988, Wendy S. Wilson, made the gift of an endowed professorship to the associate dean of undergraduate programs, Dr. Gary Waters, who was her first accounting teacher.
Chris Dyba, director of advancement for the College of Business, said the University welcomes endowments because it enables colleges to grow academically.
Dyba said endowments are used for salary supplement and/or research. He said it is an honor because it serves as a validation and an endorsement for a professor's teaching and research.
Waters, who has taught at Auburn for almost 20 years, says he has been fortunate throughout his academic career, but this comes as one of the most pleasant and unexpected surprises of his career.
"It's one of those things where Auburn, its students and alumni have done a whole lot more for me than I've ever done for them," Waters said.
"And so to be honored with a professorship is something I've never expected and something I'm very grateful," he said. "I will always have some direct connection with Auburn, which is another aspect of the professorship that I am very grateful".
Waters said his favorite part of his job is being in the classroom and working with students on a daily basis.
An endowment is a monetary gift of private support given to a specific Auburn University foundation with the principle either to never be spent or exhausted after a after a certain period of time.
Dyba said the Auburn Foundation manages the money and has a payout for the endowment, which is set up to benefit certain things like scholarships, dean funds or professorships.
"Professorship endowments run pretty high, at least $300,000 must be given by a donor," Dyba said. "But the president wanted to raise more so he has created a match initiative within all the colleges to raise 81 professorships and match half the initial requirement. If it is $300,000, the donor gives $150,000 and the president will match those earnings."
The Wilson Family Endowed Professorship will be renamed the Dr. Gary Waters professorship when Waters retires.
Waters said although he will leave the question of whether he is successful to the students and alumni, he bases his success on the success of graduates.
"If our graduates are successful in their careers and making a contribution back to society then I think we are achieving our goals."
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