Question about endowed chairs
I work in non-profit fundraising, but not for a school. When I'm researching potential donors, I frequently come across gifts made to endow chairs (i.e. the Morticia and Gomez Addams Chair in Arachnology at UC Sunnydale).
I've encountered these gifts enough to know that a gift to endow a chair is generally larger than one to endow a professorship. But one thing I've never been sure of - do these endowed chairs fulfill the role of a departmental leadership position, or is it more of an honorary thing? I would also understand if it varied from institution to institution.
EDIT: Many thanks for all the helpful responses!