An additional $400 million that MU plans to raise in private donations will go toward attracting faculty, paying faculty more and creating more student scholarships, Chancellor Brady Deaton has announced.
At a “Celebrate Mizzou” gathering Friday in Jesse Hall, Deaton said the goal to raise $600 million in private money in the “For All We Call Mizzou” campaign has been exceeded – and now will be extended to December 2008 to reach $1 billion.
“Our passion does not end with achieving this original campaign goal; we are determined to seek the next frontier,” the chancellor said at the event, which also marked the completion of his first year in office.
Deaton emphasized the importance of recruiting the best faculty and students in order to make MU a “destination” university.
“We are in a very competitive local market for intellectual talent,” he said. “We are competing with the best public and private universities in this nation and in other parts of the world.”
At a news conference later, Deaton said MU is “slipping far below where we’d like to be right now — we have eroded our salary base.”
He said the money for scholarships is intended to make the university more accessible. “Every student capable of coming to this university, we want them to get here,” Deaton said.
Deaton also announced plans to profile each MU department to find out what its needs are and to formulate a long-term strategic plan based on them. It will be “a carefully crafted profile of needed endowed chairs, senior professor leadership, junior faculty, other support at program by program level so that we can undertake the next fundraising effort in a targeted way,” he told the audience.
The profiling will start immediately so he can have the results when the fundraising campaign steering committee meets next year, Deaton said.
University of Missouri System President Elson Floyd told the gathering that in order for MU to become a “world-class university,” it is going to take a mixture of private donations, philanthropy and state support.
The fundraising campaign began privately in 1999 and had raised $335 million by the time it became public in 2003. It was supposed to end with the close of this year but reached its goal early.
Two alumni contributions announced Friday helped tip the scales. George Ashley of Dallas, an alumnus of the MU Law School, gave $1 million to improve the law library, and retired Kansas City anesthesiologist Russell Shelden and his wife, Mary Shelden, donated $2.3 million to the MU School of Medicine to pay for the Russell D. and Mary B. Shelden Clinical Simulation Center. The center will allow students to perform medical procedures on electronically controlled mannequins, which will react to treatment in much the same way as humans.
The “Celebrate Mizzou” event included a ceremonial note: In his role as chancellor, Deaton will now sport something more dapper than a sharp tie. The Jefferson Club, a club of MU’s supporters, presented him with a “Jefferson Medallion.” It is meant to be worn by the chancellor on formal occasions, and a replica will be given to each outgoing chancellor.