The $100 million gift given earlier this week by billionaire T. Boone Pickens to Oklahoma State University has brought attention to the state's matching program for endowed chairs.

In 1988, legislators and then-Gov. Henry Bellmon developed the program, hoping to increase the number of endowed chairs at state universities. Endowed chairs are teaching positions funded from proceeds of investments.

Pickens says he gave the money to OSU knowing the state would match such private donations for endowed chairs dollar-for-dollar and could potentially double the gift.

But the state already has a $124.4 million backlog of donations it has yet to match, for 437 endowed chairs at 14 colleges.

Legislators and Gov. Brad Henry (web|news) agreed last week to include $100 million for the program in a bond issue.

Legislators also are placing a temporary moratorium on matches of donations made to the program until the state catches up on the backlog. The moratorium will take effect July 1st.

Also, the state will impose an annual cap of $5 million on matching funds in the future.

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