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October 19, 2009

ISU receives ‘one of the largest philanthropic gifts from a private individual in school history’

TERRE HAUTE — Don Scott didn’t graduate from Indiana State University, but he and his wife, Susan, are making a “significant” contribution that will be used to help renovate the future home of the ISU College of Business.

In recognition of the generous donation, the ISU board of trustees on Friday will consider a recommendation to name the university’s College of Business the Donald W. Scott College of Business.

The ISU Foundation is making the recommendation. The gift “is one of the largest philanthropic gifts from a private individual in school history,” said Gene Crume, foundation president. The announcement comes as the university prepares to launch the public phase of its comprehensive March On! fundraising campaign.

Donald W. Scott spent four decades in the insurance industry with the Sycamore Agency, now Old National Insurance.

At the time of his retirement in 2003, he was chairman and CEO of Terre Haute’s Old National Insurance.

Much of the Scotts’ gift will be used to renovate what has been known as the Federal Building, which will become the new home for the Scott College of Business.

The former Federal Building at Seventh and Cherry streets housed the U.S. Post Office, federal offices and courtroom. “The courtroom is spectacular,” said Scott, who noted that it will make an impressive space for speakers, presentations and other campus-wide events.

The Scott College of Business is expected to move from its current home in Statesman Towers to the Federal Building in fall 2012.

Neither Scott nor his wife graduated from ISU, but they are longtime supporters of the university and Don Scott is a long-standing member of the ISU Foundation’s board of directors. The Scotts also are lifelong Terre Haute residents.

Donald Scott viewed the donation as “an opportunity to give back to his community and to this institution,” said Steve Brown, the foundation’s vice president for development.

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    March 12, 2010