New UM System curator calls for increased endowment

In his first few weeks on the University of Missouri System Board of Curators, veteran Missouri lawmaker David Steelman has praised the leadership of the state’s university system but called into question the system’s endowment.

The UM System has an endowment of $1.44 billion, which lags behind regional competition such as the University of Kansas ($1.47 billion) and the University of Illinois ($2.27 billion).

Steelman, a former Missouri House minority leader and the 1992 Republican nominee for state attorney general, said the UM System needs to step up its fundraising efforts. He called the endowment “absolutely critical for competing for the best and brightest.”

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