How much funding is involved and what does it fund?

A $1.4 million gift funds the department and a $1.3 million commitment supports paid summer internships over 15 years, plus a departmental program fund for experiential learning, outreach, and equipment upgrades.

When will the changes take effect and when will scholarships begin?

Changes are planned to take effect in fall 2026, including the unveiling of the named classroom. Beginning in fall 2026, ten students will receive $5,000 annual renewable scholarships for up to two years.

What opportunities accompany the internships and scholarships?

In addition to scholarships and paid internships, the program includes guest lectures, adjunct professors from Thompson Thrift, interdisciplinary initiatives, and outreach to middle and high school students.

Who is involved in the leadership and oversight of this partnership?

The partnership is led by Indiana State University President Mike Godard and Thompson Thrift leadership, with Andrea Angel representing ISU Foundation leadership.

August 23, 2025

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

Q: What is the Thompson Thrift Department of Construction Management?

The construction management program at Indiana State University will be named the Thompson Thrift Department of Construction Management within the Bailey College of Engineering and Technology as part of a donor partnership.

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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 Announces Thompson Thrift Partnership, Renaming Construction Program and Launching Coordinated Student Opportunities

The partnership between Indiana State University and Thompson Thrift centers on a landmark $1.4 million gift to the university and a commitment to paid summer internships totaling $1.3 million over 15 years. The collaboration will see the Thompson Thrift Department of Construction Management, part of the Bailey College of Engineering and Technology, renamed to reflect the donor and will weave industry tells with classroom instruction, mentorship, and hands-on practice.

The ISU Board of Trustees approved the naming during a July 24 agenda meeting, establishing a formal link between the university and the Thompson Thrift organization. The arrangement also calls for a new departmental program fund to support experiential learning, faculty development, outreach to younger students, and equipment upgrades. In addition to scholarships and internships, the fund will sponsor guest lecturers and adjunct professors from Thompson Thrift’s business units to provide students with real-world perspectives.

Under the terms of the agreement, $5,000 annual scholarships will begin in the fall 2026 academic year for junior and senior students majoring in construction management who are on-campus and studying at ISU. Ten students meeting residency and major criteria — Indiana or Illinois, on-campus status, and a declared construction management major — will receive these renewable awards for a second year. The gift and partnership are designed to strengthen recruitment, improve retention, and elevate ISU’s reputation within its construction program and across the university community.

ISU President Mike Godard framed the collaboration as a model of public-private collaboration that aligns education with industry practice, integrates experiential learning and professional mentorship, and relies on industry-aligned curricula to prepare students for meaningful careers. He noted that the partnership is intended to broaden opportunities for students while enhancing the university’s academic offerings and professional readiness, a goal that the university intends to measure through ongoing implementation over the next year and into fall 2026.

Thompson Thrift’s leadership provided context for the gift and the broader program. John Thompson, CEO of Thompson Thrift Construction, described the tie to ISU as a direct way to support the next generation of construction leaders and to build a resilient, innovative industry future. He emphasized that investing in students reinforces Thompson Thrift’s mission to positively impact team members and the communities it serves.

The gifts and anticipated activities extend beyond scholarships and internships. The departmental funds will support a variety of initiatives designed to bridge education with industry practice, including outreach to middle and high school students and broad professional development for faculty. The department will also explore interdisciplinary initiatives that connect construction management with other fields inside the Bailey College of Engineering and Technology. In addition, the partnership advances a named classroom and other physical upgrades tied to the gift, with a ceremonial unveiling planned upon completion of renovations in fall 2026.

Andrea Angel, vice president of university advancement and CEO of the Indiana State University Foundation, highlighted the founders’ ties to ISU. She described the partnership as continuing a legacy started by Thompson Thrift’s founders when they were students at ISU, creating a framework for enduring business-higher education collaboration. The named Thompson Thrift construction management classroom will be formally recognized during the fall 2026 renovations ceremony.

Thompson Thrift is described as a full‑service real estate company with offices in Indianapolis, Terre Haute, Denver, Houston, and Phoenix, engaged in development, construction, leasing, and management of multifamily and commercial projects. The company’s leadership has been recognized for community engagement and workplace excellence, including a national Top Workplace award in 2025. The partnership announcement and its framing underscore a broader commitment to community impact and workforce development as described in company profiles accompanying the partnership materials.

The practical impact for students centers on experiential opportunities and direct industry exposure. In addition to scholarships and internships, the program aims to embed guest lectures and adjunct instruction from Thompson Thrift personnel, providing students with ongoing connections to real-world challenges and trends in construction management. The collaboration is expected to strengthen recruitment and retention of construction management students while boosting the department’s ability to prepare graduates who are ready to contribute in a competitive field.

Overall, the initiative is framed as a transformative advancement for higher education-industry collaboration. By aligning scholarship support, paid internships, mentorship, and modified curricula with a named academic unit, ISU aims to demonstrate a scalable model for public-private partnerships that deliver measurable academic and career readiness outcomes over a 15-year horizon and beyond.

Frequently Asked Questions

What changes are being made at Indiana State University as part of the Thompson Thrift partnership?: The partnership renames the Construction Management program as the Thompson Thrift Department of Construction Management within the Bailey College of Engineering and Technology, and establishes a departmental program fund to support experiential learning, faculty development, outreach, and equipment upgrades.
How much funding is involved in the gift and internship pledge?: The agreement includes a $1.4 million gift to the university and a commitment to $1.3 million in paid summer internships over 15 years, averaging around $86,667 per year if distributed evenly.
When will the scholarships begin and who is eligible?: Starting in fall 2026, $5,000 annual scholarships will be awarded to ten eligible on-campus students who are majors in construction management and who come from Indiana or Illinois, with the possibility of renewal for a second year.
What other programmatic elements are included in the partnership?: The package includes internships, guest lectures, adjunct professors from Thompson Thrift, interdisciplinary initiatives, outreach to younger students, and funding for equipment upgrades and faculty development.
Who are the leaders involved in this partnership?: ISU President Mike Godard and Thompson Thrift leadership, including John Thompson, are identified as guiding the strategic collaboration, with Andrea Angel representing ISU Foundation leadership in coordinating the gift.
When do changes take effect?: The department naming and related program changes are expected to take effect in fall 2026, with the classroom naming ceremony scheduled to coincide with renovations completion.

Key Features

Feature	Details
Named department	Thompson Thrift Department of Construction Management within the Bailey College of Engineering and Technology
Initial gift	$1.4 million to ISU; supports department and program fund
Internship commitment	$1.3 million in paid summer internships over 15 years (approx. $86,667/year)
Scholarships	Ten $5,000 annual scholarships for fall 2026, renewable for one additional year
Student eligibility	On-campus students from Indiana or Illinois majoring in construction management
Additional programmatic elements	Experiential learning, guest lectures, adjuncts from Thompson Thrift, outreach to K-12
Timeline	Board approval July 24; changes take effect fall 2026; classroom naming ceremony with renovations