COLUMBIA, Mo. (AP) – The University of Missouri and Hillsdale College will split an endowment with an estimated value of $9.2 million. The university announced the agreement Wednesday to settle a lawsuit filed by Hillsdale College in 2017 over the endowment.
As part of the settlement, Hillsdale, a conservative college in Michigan, will give up oversight of the endowment. In 2002, Sherlock Hibbs gave
$5 million to Missouri, with the stipulation it be used to hire professors
who follow the teaching of the late economist Ludwig von Mises. Hibbs gave
Hillsdale oversight over the bequest. In its lawsuit, Hillsdale said Missouri was not fulfilling Hibbs’ requirements.
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