Former ISU VP, wife gift $1M to university
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Indiana State University said Tuesday that former Vice President of Administrative Affairs Robert Schafer and his wife, Penny, have donated $1 million to the university. The donation includes a cash gift to support ISU athletics and will also support four endowments.
The Schafers are both alumni of Indiana State. Bob Schafer earned his bachelor’s degree in 1961 from the Scott College of Business and earned his graduate degree in 1963. Penny earned her first bachelor’s degree in 1967, followed by her master’s in 1970 and a second bachelor’s in 1991.
The $200,000 cash gift will support updates to the Hulman Center Locker Room Area for the university’s men’s and women’s basketball teams.
Additionally, two endowments of $200,000 each will go toward the men’s and women’s basketball funds to “enhance the experience” of future student athletes.
“These 50-year ticket holders and long-term ISU employees have given so much already with their services over the years,” ISU Athletic Director Sherard Clinkscales said in a news release. “Now, they are stepping up and giving back in a major way for our Men’s and Women’s Basketball programs.”
The Schafers’ donation also creates two, $200,000 endowments to provide programmatic support for the Risk Management Program in the Scott College of Business and the School of Nursing, respectively.
“Over the years, we have seen Indiana State transform into the respectable athletic program that it is today. We are so pleased to give back to Sycamores and give them the opportunity to be successful in their future endeavors,” said Bob and Penny Schafer. “No matter who you are or where you come from, you can always give back. ISU has been beyond impactful in our lives, and we know that this investment will benefit students for many years to come.”
The donation was given as part of ISU’s $100 million Be So Bold fundraising campaign, the public phase of which was launched last September.