News and Progress

$100,000 gift from MU alumnus endows scholarships and study space for business students

April 25, 2005

Undergraduate students entering the University of Missouri-Columbia College of Business soon will be able to benefit from a newly endowed scholarship and building fund totaling $100,000, thanks to the generosity of one of the College's successful alums.

Ray Holman, BS BA '64, established the C. Ray Holman Undergraduate Scholarship Fund as part of MU's 2004-05 need-based scholarship matching program. The Holman fund will provide renewable scholarships to undergraduate accounting students who fall into the high-need category as outlined on the Free Application for Federal Student Aid (FAFSA). Recipients of the award must be residents of Missouri and qualify for financial aid.

"Earning my undergraduate degree at MU was one of the most important developmental times of my life and provided a springboard for me to be successful in my career," said Holman, retired chairman and CEO of St. Louis-based Mallinckrodt Inc., a global developer, producer and marketer of medical products. "I wanted to make a gift to provide resources for more under-privileged students so they can become educated and increase their chances of enjoying the same kind of career success."

In addition to the scholarship endowment in the amount of $45,000, which will be matched by MU, Holman made a $55,000 donation to the Cornell Hall Fund. The fund helps pay the remaining $1 million for the building, which was completed in 2002 at a cost of $30 million. In recognition, Holman's name will be displayed in one of the case study rooms used by business students. Holman previously created an endowed fund in the College to provide scholarships for accounting students. Holman also has been a Professor-for-a-Day for both undergraduate and MBA classes at MU.

"With the rising costs of college tuition, particularly at state universities, which have been hit hard by budget situations, earning a college education is more expensive than ever," Holman said. "For this reason, and my commitment to the College of Business, I plan to add to the scholarship funds in the future."