The University of Missouri plans to spend about $1.5 billion during the next 10 years on additional faculty and staff, salary increases and facility and other improvements.

MizzouForward, a strategic plan to enhance the university’s research and education missions, was announced in a news release in November. While some of the revenue sources will be developed, the university is planning for $300 million from increased tuition revenue and $250 million from MU Health Care, the university’s academic medical center.

“We have budgeted approximately 2% annual increases to meet this (tuition) goal,” Christian Basi, director of the University of Missouri media relations, wrote in an email to The Center Square. “That could potentially be impacted in a positive way – a smaller increase – if enrollment numbers exceed our projections.”

MU Health Care serves the University of Missouri Medical School and operates the University Hospital and Clinics, a women’s hospital, a children’s hospital, a cancer center, an orthopedic institute and a psychiatric center in Columbia. It employs more than 6,000 physicians, nurses and health care professionals.

MU Health Care currently contributes about 1% of its net revenue to the university each year, Basi stated.

“MU Health Care has been growing well over the last several years,” Basi wrote. “This $250 million projection incorporates the expectation of what they would be able to provide the university based on their future growth while continuing the expectation of the 1% contribution from their net revenue annually.”

Other funding sources include:

  • $100 million from the state to support the NextGen Precision Health Initiative. The state recently added $10 million to the annual core appropriation for the university. To date, state provided $27 million to the initiative.
  • $100 million from industry partners through increasing license revenue;
  • $50 million from federal support through a partnership with the Veterans Administration;
  • $100 million from donors who support research philanthropy.

Basi stated the university recently completed a fundraising campaign resulting in $1.4 billion in donations.

“The $100 million for fundraising is targeted specifically for the MizzouForward program,” Basi wrote. “As we’re planning our next campaign, we expect that the goal for that entire campaign will be similar to or exceed the last campaign. Individual goals, such as the $100 million for MizzouForward, will be identified as part of that larger campaign.”

About 150 new faculty will be recruited during the next five to 10 years, according the plan’s announcement. The university will provide startup funds for faculty to equip labs and hire research assistants for new scientific research projects. An additional 150 staff will be recruited to support research facilities, adhere to compliance, develop proposals and award nominations. Performance-based salary increases for faculty and staff are included in the plan.

“Over 10 years, we expect the performance or merit-based increases and the salary investment for new faculty to be approximately $850 million,” Basi wrote.

The university doesn’t typically give out across-the-board raises, Basi stated. He anticipated the university would budget for a 3% pool for faculty and staff merit raises.

“MizzouForward will provide our faculty with the resources, infrastructure and support they need to conduct cutting-edge research, educate the next generation of our workforce and translate their academic activities to the benefit of our communities and society,” Mun Choi, president of the University of Missouri, said in a statement.

The plan includes resources for assisting academic success, increasing graduation rates and job placement outcomes.

“Approximatley $75 million is targeted specifically at student success programs,” Basi wrote. “However, the money that is geared toward investing in research ($100 million) as well as infrastructure ($200 million) and faculty and staff success programs ($75 million) will also impact student success in addition to targeted funds.”