MU Chancellor R. Bowen Loftin launched a new campaign Thursday, seeking to raise over a billion dollars in funding for the university.
“Mizzou: Our Time to Lead” has a goal of raising $1.3 billion. The campaign has already raised $650 million to date.
The event was held at Mizzou Arena and nearly 600 guests were in attendance for the announcement.
The fundraising for this campaign comes from numerous donors including alumni, patients and fans. Loftin said these donors play a huge part in the universities success today.
“Our generous donors help us support student scholarships and attract and retain top-notch teachers and researchers,” Loftin said.
The money raised through this campaign will go towards many concerns on MU’s campus. Increasing endowment, creating new research centers and constructing new academic buildings are all at the top of the list.
MU’s current endowment is $820 million and generates about $37 million a year used to support scholarships, programs and research. Campaign leaders hope to increase the endowment to well over a billion dollars to remain competitive with other universities.
With this announcement, campaign leaders also hope to bring five to 10 new centers and institutes to MU. Leaders will also seek funding for new academic buildings, including a new School of Music building, a new Fine Arts building and other renovations to various structures on campus.
The state has not funded a new academic building on MU’s campus for 12 years.
MU Vice Chancellor for Advancement Tom Hiles said this campaign has been months in the making and will propel MU to the top tier of public universities in the nation.
“This campaign will elevate the University to new heights of excellence in education and research, and we are energized to advance and support MU’s mission for decades and centuries to come,” Hiles said.
MU is one of 23 universities in the country involved in a $1.3 billion-plus campaign.
MU wrapped up its first $1 billion campaign in 2009.