The term FUND, AS A UNIVERSITY CHAIR can be summarized as endowing a chair at a university. This means that a person or organization provides financial support to a university in order to create a chair position, which is a teaching position that is usually held by a professor. The chair position is typically named after the donor and is used to support research and teaching in a particular field. Endowing a chair is a way of providing long-term support to a university and its faculty.