Hillsdale College sues over $5 million gift to University of Missouri
HILLSDALE, MI – Hillsdale College is suing the University of Missouri, claiming an endowment gift from a deceased MU alum is not being spent according to his wishes.
Hillsdale claims it is entitled to the $5 million endowment gift left in the will of Sherlock Hibbs in 2002 that directed Missouri’s Board of Curators to divide the funds into six separate funds named by Hibbs.
In the lawsuit filed in 2017, Hillsdale claims the university found the terms of the gift “distasteful” and was concerned MU and its Business School were being “held hostage by a particular ideology,” ultimately disputing that his gift resulted in a trust, according to the lawsuit.
Hillsdale, according to the lawsuit, had incentive to police Missouri’s compliance of the terms of the gift because it would forfeit the funds to Hillsdale if the university did not comply.
Read more: https://www.mlive.com/news/ann-arbor/2019/07/hillsdale-college-sues-over-5-million-gift-to-university-of-missouri.html
