There had been concern that the post, which could pay for three nurses, would come from NHS Lothian's funds at a time when 2000 jobs are being cut.
However, health chiefs have said the wage will instead be paid for by the Endowment Fund, which is a separate charity.
The fund itself is a long-standing set-up aimed at providing benefits for health workers.
Susan Goldsmith, director of finance, said: "The Endowment Fund is a separate registered charity and the director will not be employed by NHS Lothian but will report directly to the trustees of the charity.
"The role of the director will be to raise the profile of the charity and to attract more fundraising and donations so that the endowment fund is able to continue providing benefits to patients and staff throughout NHS Lothian.
"The salary of the post has been benchmarked against similar posts in other NHS charities across the UK."