The has announced a $10 million gift from the to boost faculty salaries at the .
The gift, combined with matching funds raised from other donors, will create the Donald W. Reynolds Foundation Faculty Excellence Fund, which will support fifty fellowships for associate and full professors at the journalism school. With the gift, the Reynolds Foundation, which is set to cease operations in 2017, becomes the university's first $100 million donor. MU will receive the gift in 2021 when the foundation distributes the remainder of its assets, though the school will be able to accept matching donations of at least $200,000 from third parties to establish faculty fellowships that will be converted in 2021 to "distinguished faculty" fellowships of at least $400,000 each.
A 1927 graduate of the MU School of Journalism, Donald W. Reynolds was the founder of the Donrey Media Group, which ultimately owned more than one hundred enterprises in the newspaper, radio, television, cable television, and outdoor advertising industries.
"In the spirit of its founder, the Reynolds Foundation has made a significant impact on the University of Missouri and the entire journalism profession over the past sixty years," said MU chancellor R. Bowen Loftin. "This investment in our faculty means that our students are taught by the very best and will ensure Missouri's continued prominence in journalism higher education. We are very grateful to the Reynolds Foundation for their partnership and generosity."