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 names construction management department after $1.4 million gift; paid internships pledged for 15 years
Indiana State University has secured a new industry partnership that will rename its construction management program and provide long-term student support. The university approved the naming of the Thompson Thrift Department of Construction Management after receiving a $1.4 million gift, and the donor pledged an additional $1.3 million to fund paid summer internships over 15 years.
Top-line details
The university board approved the department naming during an agenda meeting on July 24. The renamed unit will sit inside the Bailey College of Engineering and Technology. The pledged internships and scholarships are intended to connect classroom learning with on-the-job experience and to support student recruitment, retention and career readiness.
What the money will do
The gift and related commitments include several distinct components aimed at strengthening the construction management program and student outcomes:
- $1.4 million gift to establish the department name, create a named classroom and support a departmental program fund.
- $1.3 million in paid summer internships over the next 15 years for qualified construction management students, delivered by the donor’s company.
- Scholarship awards beginning fall 2026: up to 10 on-campus juniors and seniors from Indiana or Illinois will be eligible for a $5,000 annual scholarship, renewable for one additional year.
- Departmental program fund to back experiential learning, outreach to middle and high school students, faculty professional development and equipment upgrades.
- Guest lecturers and adjunct instructors from the donor’s business units to bring real-world perspectives into the classroom.
Timeline and implementation
The board’s approval sets a timeline for implementation and campus changes to take effect in fall 2026. Over the next year the university will finalize operational details for the renamed department, scholarship distribution, internship structure and how donor-provided instruction and mentorship will be integrated into curricula. The planned named classroom will be unveiled when renovations to the Bailey College of Engineering and Technology are completed in fall 2026.
Eligibility and scale of student support
The scholarship program is targeted to on-campus students who have declared a major in construction management and who are residents of Indiana or Illinois. Ten students will be awarded the $5,000 annual scholarship, which is renewable for a second year. The internship pledge covers paid summer placements, with total funding of $1.3 million distributed across 15 years.
Why this matters for students and the program
The partnership is designed to link academic study with professional practice. The combination of scholarships, paid internships, guest instruction and program funding is intended to create clearer career pathways for students, give them hands-on experience, and help faculty maintain industry-aligned course work and equipment. The outreach portion of the departmental fund aims to encourage middle and high school students to consider construction management as a career option.
Donor and institutional context
The company behind the gift began as a student-founded firm in 1986 and has since expanded from regional development and construction into a full-service real estate enterprise operating in multiple U.S. cities. The company’s operations include development, construction, leasing and management of multifamily and commercial projects. The donor organization also runs community engagement programs and internal employee support initiatives.
Expected institutional benefits
University leadership framed the partnership as a model of public-private collaboration meant to boost academic quality and workforce readiness. Institutional benefits cited in planning documents include stronger recruitment and retention in the construction management major, improved job placement outcomes for graduates, enhanced faculty development opportunities and upgraded lab or classroom equipment aligned to industry standards.
Next steps
During the coming academic year the university and the donor will work through implementation details including internship scheduling, scholarship application and selection processes, guest instructor agreements and deployment of the departmental program fund. The full set of changes is slated to begin in fall 2026, concurrent with renovations to the Bailey College facilities.
Frequently Asked Questions
What is being renamed?
The construction management program within the Bailey College of Engineering and Technology will be named the Thompson Thrift Department of Construction Management following board approval.
How much money did the donor give?
The donor provided a $1.4 million gift that supports naming, a departmental fund and a named classroom. Separately, the donor pledged $1.3 million to fund paid summer internships over 15 years.
Who can receive scholarships?
Starting in fall 2026, up to 10 on-campus students from Indiana or Illinois with a declared major in construction management will be eligible for a $5,000 annual scholarship, renewable for one additional year.
What kinds of internships are included?
Internships are paid summer positions provided by the donor’s company and are funded through a 15-year pledge totaling $1.3 million.
When will the changes take effect?
Implementation is planned over the next year with program changes and scholarship eligibility beginning in fall 2026, timed with facility renovations.
How will the departmental fund be used?
Funds will support experiential learning, outreach to pre-college students, faculty professional development and necessary equipment upgrades.
Key features at a glance
| Feature | Detail |
|---|---|
| Department naming | Thompson Thrift Department of Construction Management |
| Gift amount | $1.4 million |
| Internship pledge | $1.3 million in paid summer internships over 15 years |
| Scholarships | 10 students, $5,000 annually, renewable for one year; starts fall 2026 |
| Program fund uses | Experiential learning, outreach, faculty development, equipment upgrades |
| Implementation timeline | Board approval July 24; full changes effective fall 2026 |
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
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