The support and endowment of academic posts is vital to the Department's financial well-being. The current difficulties facing University funding are well-documented, and there is a continuing need to find and retain high-quality academic staff, in both new and existing disciplines. Endowment The Endowment of a post in perpetuity is when a gift is invested by the University and overseen by our expert independent investment committee; the income from the gift goes towards paying the salary of the post-holder and associated costs. Endowment provides the Department with a vital level of financial security, enabling us to predict, and plan for, future expenditure. Endowment gifts offer an extraordinary opportunity for benefactors to support world-leading research into the big questions of our time and beyond, as gifts will continue to fund posts for generations to come. The Teaching Fund At the heart of an Oxford education are world-class academics and the opportunity for students to engage with them through the Tutorial System. Both are fundamental to the University's continued success. To secure the future of Tutorial learning, the University of Oxford has dedicated £60m to establish the Teaching Fund to match philanthropic gifts and ensure the endowment of key posts across the University. The cost of endowing an existing post in perpetuity is £2m. The Teaching Fund will contribute £800,000 to each one, leaving a balance of £1.2m to be raised through philanthropy by the collegiate University. A gift at any level, whether made individually or collectively, can be matched through this scheme, enabling all donations to have a significant impact.