Government Relations
UM Legislative Update Newsletter
Friday, April 23, 2004
Endowed research chairs legislation advances in the House
Proving to be a successful mechanism for attracting and retaining world-class faculty over the past decade, the University’s current endowed chairs program raised approximately $90 million from private sources and supports 120 endowed positions across the academic disciplines. In addition, the program has strengthened the University’s research capacity, as well as helped promote economic development in the state. During the past three years alone, endowed faculty have generated approximately $98 million in external research funding, representing a return on the state's investment of 800 percent and an additional $250 million in economic output for Missouri's economy. The proposed program will not replace the 120 endowed faculty positions currently at the University of Missouri System.
Details of the Endowed Life Sciences Research Chairs program:
- In order for an endowed research chair to be fully funded at a level of $300,000 annually, three funding sources are needed:
- Non-state commitment of a $2 million endowment or $100,000 per year for 20 years;
- University commitment of $100,000 per year for 20 years;
- State commitment of $100,000 per year for 20 years.
- The non-state funds could derive from private, federal, earned income or any other non-state source. The state commitment would be subject to approval by the Life Sciences Research Board and funded through the life sciences research fund.
- In addition to the $100,000 state match, the legislation authorizes the Life Sciences Research Board to provide one-time funding of research/programmatic start-up funds in the amount of $500,000 over a two-year period for each endowed chair.
- The total state contribution cannot exceed $10 million annually.
April 23, 2004 Index
