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 University department renamed after $1.4 million gift; $1.3 million in paid internships pledged
Indiana State University has accepted a $1.4 million gift that will name the university’s construction management unit the Thompson Thrift Department of Construction Management. Alongside the naming donation, the donor pledged $1.3 million in paid summer internships over 15 years aimed at students majoring in construction management.
Key approvals and timing
The university’s Board of Trustees approved the departmental naming during an agenda meeting on July 24. University leadership plans to spend the coming year finalizing implementation details. The new department name and related program changes are scheduled to take effect in fall 2026, concurrent with completion of renovations to the Bailey College of Engineering and Technology and the unveiling of a named construction management classroom.
Financial and program commitments
The commitment has several parts:
- $1.4 million gift to establish the department name and support a departmental program fund.
- $1.3 million in paid summer internships over a 15‑year period for qualified construction management students.
- $5,000 annual scholarships for up to 10 junior and senior on‑campus students each year, beginning fall 2026; each scholarship is renewable for one additional year.
Who can receive scholarships and internships
Scholarship awards are targeted to students who meet these criteria: on‑campus enrollment, declared major in construction management, and residency in Indiana or Illinois. Internship support is described as paid summer placements for qualified students in the construction management program. The internship pledge spans 15 years, providing sustained opportunities that the university says will enhance students’ professional readiness.
Intended uses of the departmental program fund
The donation also supports a departmental program fund that will be used for:
- Experiential learning opportunities for students.
- Outreach to middle and high school students to promote construction careers.
- Faculty professional development.
- Equipment upgrades as needed for hands‑on instruction.
Industry involvement and curriculum links
As part of the partnership, business unit staff from the donor company will provide guest lectures and serve as adjunct instructors to give students real‑world perspectives. University leadership described the arrangement as integrating experiential learning, professional mentorship, and industry‑aligned curriculum, with the stated goals of strengthening recruitment, improving student retention, and better preparing graduates for careers in a competitive field.
Background on the donor and institutional connection
The donor company was founded in 1986 and has grown from a locally focused development and construction company into a full‑service real estate enterprise with national operations. The company maintains offices in multiple cities and is involved in development, construction, leasing and management of multifamily and commercial projects. Company founders began the business while students at the university, creating a longstanding institutional connection that university advancement leadership described as a continuing legacy.
Next steps and public rollout
University leaders will work on final implementation details over the next year, including operational plans for internships, scholarship administration, classroom naming logistics and coordination of guest lecturers and adjunct faculty appointments. The named classroom and other physical recognitions tied to the gift are tied to the completion of building renovations scheduled for fall 2026.
Why this matters
The package combines direct student aid with programmatic investments and industry engagement. By linking scholarships, paid internships and curricular input from a private firm, the partnership aims to bridge classroom instruction with on‑site experience. The sustained internship pledge and departmental fund are intended to create multi‑year pathways into the construction industry for students from the region.
FAQ
What is the total value of the gift and associated internship pledge?
The naming gift totals $1.4 million. In addition, the donor pledged $1.3 million in paid summer internships over 15 years.
When will the new department name and programs take effect?
The changes are scheduled to take effect in fall 2026, aligned with the completion of renovations to the Bailey College of Engineering and Technology.
Who is eligible for the scholarships?
Scholarships beginning fall 2026 will be awarded to up to 10 on‑campus students who are juniors or seniors, have a declared major in construction management, and are from Indiana or Illinois. Each scholarship is $5,000 annually and may be renewed for one additional year.
How will internship slots be funded and for how long?
Paid summer internships are funded through a pledged $1.3 million commitment spread over 15 years, with specific annual distributions to be worked out during the implementation planning period.
What other uses will the donated funds support?
Funds will support experiential learning, outreach to middle and high school students, faculty professional development, and equipment upgrades, as well as a named classroom in the renovated building.
Key features at a glance
| Feature | Details |
|---|---|
| Department name | Thompson Thrift Department of Construction Management |
| Naming gift | $1.4 million |
| Internship pledge | $1.3 million in paid summer internships over 15 years |
| Scholarship program | 10 students, $5,000 annually, renewable one year; starts fall 2026; for on‑campus juniors/seniors from Indiana or Illinois |
| Use of program funds | Experiential learning, outreach, faculty development, equipment upgrades, departmental program needs |
| Approval date | Board approval during agenda meeting on July 24 |
| Effective date | Fall 2026 (timed with building renovations and classroom unveiling) |
Deeper Dive: News & Info About This Topic
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
Author: Construction NY News
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