The Mary Jo Welker, MD and Lloyd M. Welker Endowment Fund was established September 17, 2010 by the Board of Trustees of The Ohio State University in accordance with the guidelines approved by the Board of Directors of The Ohio State University Foundation, with gifts from Dr. Mary Jo Welker (B.A. 1972, M.D. 1976) and Mr. Lloyd M. Welker (B.S. 1976).
The annual distribution from this fund shall be used to support activities of the chair in the Department of Family Medicine. While the Donor holds the chair position, expenditures shall be approved by the dean of the College of Medicine.
If the chair position in the Department of Family Medicine ceases to exist, the annual distribution shall provide support for the Department of Family Medicine at the discretion of the dean of the College of Medicine.
In any given year that the endowment distribution is not fully used for its intended purpose, held in the distribution account to be used in subsequent years and only for the purposes of the endowment, or reinvested in the endowment principal at the discretion of the dean of the College of Medicine.
The investment and management of and expenditures from all endowment funds shall be in accordance with University policies and procedures as approved by the Board of Trustees. As authorized by the Board of Trustees, a fee may be assessed against the endowment portfolio for the University’s costs of development and fund management.
It is the desire of the donors that the endowment established herein should benefit the University in perpetuity. Should unforeseen circumstances arise in the future so that the need for this endowment ceases to exist, then another use as nearly aligned with the original intent of the contribution as good conscience and need dictate, shall be designated by the Foundation’s Board of Directors and the University’s Board of Trustees. In making this alternate designation, the Boards shall seek advice from the donors, should they be alive, and dean of the College of Medicine.