This report compares Missouri's reading and mathematics performance on the most recent administrations of the state assessment with performance on the National Assessment of Educational Progress (NAEP). To indicate how Missouri is doing in narrowing the academic achievement gap between African American and Latino students and their white, middle class peers, the report presents NAEP data by race/ethnicity. The report presents other state-level data on K-college education, including demographic distribution across each educational level, participation and success in Advanced Placement, percentage of students taking high-level courses, school funding gaps, and high school and college graduation rates. Results from the 2002 state assessment showed that 35 percent of all 3rd graders were proficient or above in reading. On the 1998 NAEP 4th grade reading assessment, 29 percent of students performed at or above the proficient level. Significantly more white than black 4th graders were proficient or above in reading. In 2002, 14 percent of all 8th graders were proficient or above in mathematics on the state assessment, with significantly more white than black 8th graders proficient or above in math. The 2000 NAEP 8th grade assessment showed 22 percent of Missouri students at the proficient level or above. Missouri's African American-white 4th grade reading achievement gap was 23rd among the states in 1998, while the 8th grade math achievement gap was the sixth largest in 2000. African Americans are underrepresented in Advanced Placement (AP) exam taking and in gifted and talented programs, while Asian Americans have a high rate of AP test taking and enrollment in gifted and talented programs. Nearly 40 percent of Missouri's high school students enroll in college, compared to 54 percent nationwide. About one quarter of Missouri secondary classes are taught by teachers lacking a major or minor in the field. Districts with higher child poverty rates have the fewest state and local dollars to spend per student, while districts with higher minority enrollments have more state and local dollars to spend per student. (SM)