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 University names Thompson Thrift Department of Construction Management after a $1.4M gift and a 15-year paid internship pledge

In Terre Haute, Indiana, Indiana State University (ISU) and Thompson Thrift announced a formal partnership that centers on a significant philanthropic gift and a sustained program of hands-on learning. The arrangement brings together academic programs in the Bailey College of Engineering and Technology and a national real estate and construction company to advance student preparation for careers in construction management. The partnership includes a gift of $1.4 million to ISU and a commitment to provide paid summer internships totaling $1.3 million over 15 years to qualified construction management students.

As part of the agreement, ISU’s Board of Trustees unanimously approved the naming of the Thompson Thrift Department of Construction Management during an agenda meeting on July 24. The department will be housed within the Bailey College of Engineering and Technology and will be equipped to incorporate experiential learning, professional mentorship, and industry-aligned curricula into its core offerings. The naming and partnership are described as a concrete step in strengthening the university’s educational mission and its ties to industry partners.

The Thompson Thrift Department of Construction Management will support a range of programmatic efforts beyond the classroom. A dedicated departmental program fund created by the gift will fund experiential learning opportunities for students, outreach to middle and high schools, faculty professional development, and equipment upgrades as needed. In addition to funding, Thompson Thrift will participate directly by providing guest lecturers and adjunct professors drawn from its various business units to give students real-world perspectives on construction projects, planning, and management.

Beginning in the fall 2026 academic year, junior and senior students majoring in construction management who study on campus will have the opportunity to earn a $5,000 annual scholarship as an outcome of the partnership. The scholarship is renewable for one additional year and will be awarded to 10 on-campus students who are Indiana or Illinois residents with a declared major in construction management. The scholarship program is designed to strengthen recruitment and retention while boosting ISU’s reputation in the field. The scholarship funds are part of the larger gift that also supports the departmental program fund and ongoing initiatives.

The gift and partnership are framed as a model of public-private collaboration that aligns academic study with industry practice. ISU President Mike Godard emphasized that the collaboration will weave together experiential learning, professional mentorship, and industry-aligned curricula to prepare students for meaningful careers in a highly competitive field. The leadership described the partnership as a way to lift academic excellence and professional readiness by bridging education with real-world work, while also strengthening the university’s capacity to recruit and retain students in the construction management program across campus.

John Thompson, CEO of Thompson Thrift Construction, explained that the partnership aligns with the company’s mission to positively impact team members and the communities it serves. He noted that investing in the next generation of construction leaders helps build a foundation for a more innovative and resilient future. Andrea Angel, vice president of university advancement and CEO of the ISU Foundation, drew a line from the company founders’ own student days at ISU to the current initiative, stressing that the gift continues a legacy of ties between the business and university environments and provides a framework for meaningful collaborations between higher education and industry.

The project includes the creation of a named construction management classroom tied to the gift. That classroom will be unveiled during a ceremony recognizing the commitment when renovations to the Bailey College of Engineering and Technology are completed in fall 2026. The university and Thompson Thrift described the changes as a gateway to more integrated programs—encompassing scholarships, internships, interdisciplinary initiatives, and outreach efforts that connect education with industry practice.

Beyond the classroom, the partnership adds a broader set of benefits. Internships pledged by Thompson Thrift are described as paid summer internships, reinforcing experiential learning and professional exposure. The departments will also support guest lectures and adjunct appointments from Thompson Thrift’s business units, providing students with perspectives that reflect current industry practices. By linking scholarship support with hands-on learning and mentorship, ISU and Thompson Thrift aim to elevate student outcomes and prepare graduates for roles in development, construction, leasing, and management within a national footprint.

The partnership is described as a landmark effort that reflects shared commitments to excellence, innovation, and community impact. In addition to the formal naming and funding, the collaboration signals a long-term approach to building the skills and networks that today’s construction management students need for success. The scheduled fall 2026 milestones—the opening of the named classroom and the full implementation of programmatic changes—serve as visible markers of the deep ties forming between Indiana State University and Thompson Thrift.

Frequently asked questions

What is the Thompson Thrift Department of Construction Management?

The department is the newly named construction management unit within the Bailey College of Engineering and Technology at Indiana State University, created through a partnership with Thompson Thrift.

What does Thompson Thrift contribute to the partnership?

Thompson Thrift provides a $1.4 million gift to the department and a commitment of $1.3 million in paid summer internships over 15 years, along with a named classroom and opportunities for guest lectures and adjunct professors.

What is the scholarship program associated with the partnership?

Starting in fall 2026, ten on-campus construction management students from Indiana or Illinois will receive a $5,000 annual scholarship, renewable for one additional year, as part of the partnership’s emphasis on student support and retention.

When do the changes take effect?

The ISU Board of Trustees approved the naming on July 24, and the changes are expected to take effect in fall 2026, with renovations to be completed at that time and the named classroom unveiled then.

Who are the leaders involved?

ISU leadership, including President Mike Godard, spoke about the partnership’s goals, while John Thompson (CEO of Thompson Thrift Construction) discussed the company’s motivation and the long-term impact. Andrea Angel of the ISU Foundation highlighted the partnership’s grounding in the university’s legacy and community ties.

What broader impact does the partnership aim to achieve?

By combining scholarships, internships, mentorship, and industry-aligned curricula, the collaboration seeks to strengthen recruitment and retention, elevate academic and professional readiness, and bridge education with real-world practice across campus and industry partners.

Key features of the ISU-Thompson Thrift partnership

Key features of the ISU-Thompson Thrift partnership

Feature	Details
Partnership scope	Academic department naming, scholarships, paid internships, guest lectures, and equipment upgrades tied to Bailey College of Engineering and Technology
Gift amount	$1.4 million gift to Indiana State University
Internship funding	$1.3 million in paid summer internships over 15 years
New department name	Thompson Thrift Department of Construction Management
Scholarship program	$5,000 annual scholarship for 10 on-campus construction management students, starting fall 2026; renewable for one year
Eligibility for scholarships	On-campus students from Indiana or Illinois with a declared construction management major
Timeline	Board approval on July 24; changes take effect fall 2026; named classroom unveiled after Bailey College renovations
Programs included	Experiential learning, professional mentorship, industry-aligned curricula, guest lectures, adjunct faculty
Named classroom	Dedicated Thompson Thrift construction management classroom to be unveiled in fall 2026

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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