Indiana State University names construction management department after $1.4 million gift

Terre Haute, Indiana, August 23, 2025

News Summary

Indiana State University approved naming its construction management program the Thompson Thrift Department of Construction Management following a $1.4 million gift. The donor also pledged $1.3 million to fund paid summer internships over 15 years. The funding establishes a named classroom, a departmental program fund for experiential learning, outreach, faculty development and equipment upgrades, and supports guest lecturers and adjunct instructors from the donor’s company. Starting fall 2026, up to 10 on-campus juniors and seniors from Indiana or Illinois will be eligible for $5,000 annual scholarships, renewable for a second year. Implementation and facility renovations will be completed by fall 2026.

Indiana State names construction management department after $1.4M gift; company pledges $1.3M in paid internships

Indiana State University has approved a partnership that will rename its construction management unit and add long‑term student support. The university’s trustees approved the change at an agenda meeting on July 24, clearing the way to create the Thompson Thrift Department of Construction Management inside the Bailey College of Engineering and Technology. The move is backed by a $1.4 million gift and a separate pledge of $1.3 million in paid summer internships over the next 15 years.

What the package includes up front

The package pairs the one‑time naming gift with a long‑term commitment to hands‑on work experience. The internship pledge covers paid summer positions for qualified juniors and seniors in construction management and totals $1.3 million over 15 years. The gift also establishes scholarships, program funds, and a named classroom tied to facility renovations planned for completion in fall 2026.

Scholarships and student support

Beginning in the fall 2026 academic year, the partnership will support an annual scholarship of $5,000 that is renewable for one additional year. Up to 10 students will receive these awards based on specific criteria: students must be from Indiana or Illinois, live on campus, and have a declared major in construction management. The scholarship program is designed to help students cover costs during their junior and senior years.

Program fund uses and academic ties

The departmental program fund created by the gift will support several practical needs: experiential learning opportunities, outreach to middle and high school students, faculty professional development, and equipment upgrades as needed. The department will also host guest lecturers and adjunct instructors from the company’s various business units to bring industry practice into the classroom and lab.

Timing and campus facilities

The trustees approved the naming in late July, and the university has set a timeline for implementation and facility work. Final details are expected to be worked out over the following year, with the changes and student programs taking effect in fall 2026. The named Thompson Thrift construction management classroom will be unveiled after renovations in the Bailey College of Engineering and Technology are finished.

How the partnership is structured

The deal combines monetary gifts with in‑kind support: scholarships, paid internships, guest instructors, and interdisciplinary initiatives that connect campus learning to real projects. The paid internships are specifically summer positions and are intended to give students practical experience alongside classroom instruction. The internship funding spans 15 years, averaging support each year though exact yearly amounts were not detailed in the approval materials.

Company background and ties to the university

The company behind the gift began in 1986 and grew from a local development and construction firm into a full‑service real estate company with offices in Indianapolis, Terre Haute, Denver, Houston, and Phoenix. The founders started the business while they were students at the university, and the new partnership is framed as a continuation of that early connection. The company is active in development, construction, leasing and management of multifamily and commercial properties and has reported local and national workplace recognitions.

Benefits cited for students and the university

University leaders say the partnership aims to combine classroom study with real projects, professional mentoring, and industry‑aligned curriculum to prepare graduates for construction careers. The arrangement is also expected to support recruitment and retention in the program and to raise the department’s profile on campus and beyond. Funds specifically set aside for outreach will encourage interest in construction careers among middle and high school students.

Next steps

The university will spend the upcoming year finalizing how the funds and programs will be used, hiring or arranging guest instructors from the company, and preparing for the fall 2026 start of the renamed department and scholarship awards. Equipment purchases, faculty development plans, and outreach schedules will be set as part of that implementation phase.

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Frequently Asked Questions

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Key features at a glance

Feature	Detail
Department name	Thompson Thrift Department of Construction Management
One‑time gift	$1.4 million to support naming, scholarships, and program funds
Internship pledge	$1.3 million for paid summer internships over 15 years
Scholarship	$5,000 annually, renewable once, up to 10 students (Indiana/Illinois, on‑campus, construction management majors)
Effective date	Fall 2026 (after final planning and Bailey College renovations)
Program fund uses	Experiential learning, outreach, faculty development, equipment upgrades, guest lecturers
Company origin	Founded in 1986, grew from local firm to national real estate company with multiple offices

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Additional Resources

• YieldPro: Department of Construction Management (Thompson Thrift / ISU)
• Wikipedia: Indiana State University
• WTHI-TV: ISU and Thompson Thrift announce multi‑million dollar partnership
• Google Search: Thompson Thrift Indiana State University
• Inside Indiana Business: Thompson Thrift donates $1.4M to ISU
• Google Scholar: Construction management internships paid summer
• My Wabash Valley: ISU announces partnership with Thompson Thrift
• Encyclopedia Britannica: Construction management
• IndyStar: Thompson Thrift returns to Central Indiana’s Top Workplaces list
• Google News: Thompson Thrift Indiana State University