Auburn, Benjamin M. J. Endowment
Established by initial gifts exceeding $20,000 by Mark, Sandy, and David Auburn in memory of their son and brother, The Benjamin M. J. Auburn Endowment shall be held by The University of Akron Foundation, which shall annually make available to the director of the Honors Program a distribution of at least $500 or 5 percent of the value of the endowment, whichever is higher and prudent for the preservation in perpetuity of the endowment, for the purpose of funding the Ben Auburn Award in Cultural Criticism (q.v.). Of the annual distribution, the director of the Honors Program shall grant a minimum of $500 or at least 75 percent in awards; the director may use up to 25 percent of the annual distribution to defray expenses for publicizing the award, conducting the competition, and arranging for the symposium.
During their lifetimes, the donors collectively and individually reserve the right to redirect earnings from The Benjamin M. J. Auburn Endowment to purposes at The University of Akron other than funding the Ben Auburn Award in Cultural Criticism through the Honors Program.