MU receives $1.5 million gift from legacy donor

9 months 3 weeks 13 hours ago Friday, September 20 2019 Sep 20, 2019 Friday, September 20, 2019 10:54:00 AM CDT September 20, 2019 in Top Stories
By: Chase Matteson, Digital Producer

COLUMBIA - The University of Missouri announced a $1.5 million gift Friday, which will be used to help improve business practices.

According to a press release, the gift is from Jim Pace, whose direct ancestors helped support bringing the University of Missouri to Columbia.

Jim Pace used to be the CEO and owner of ROM Corporation, a manufacturing company, after receiving a business degree from the University of Missouri in 1965.

“As a descendant of one of the founding families of Mizzou, Jim understands the impact this great flagship institution has on the community and on society," said Chancellor Alexander Cartwright in the press release.

"I’d like to thank him for his tremendous faith in our university, and for working with us to improve our business models so we can prioritize an exceptional, yet affordable, education for future generations of students,” Cartwright continued.

The news release said Pace's gift has helped in the following ways:

  • Training for more than 4,500 participants on financial processes
  • Employing a contract portal that helps Mizzou secure cost-effective services and materials
  • Launching user-friendly, secure websites for the Division of Finance and Cashiers
  • Supporting the work of the Chancellor’s resource allocation model committee

Jim Pace has a history of supporting MU as he serves on the Mizzou: Our Time to Lead campaign cabinet.

"Throughout my career, I learned to appreciate how investments can fuel a business enterprise,” Pace said. “My hope is that this gift will allow MU to explore new ways to identify and reduce operating costs in a period of declining state funding and limited opportunities to raise tuition. With this, MU can free up other resources so the university can continue giving students access to a world-class education.”

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