Real estate development company Thompson Thrift has donated $1.4 million to Indiana State University as part of a broader partnership in construction management education.
In addition to the financial gift, which includes the naming of the Thompson Thrift Department of Construction Management in the Bailey College of Engineering and Technology, the collaboration will involve professional mentorship, adjunct professors, guest lecturers, scholarships and internships, the company said in a news release.
Indiana State University President Mike Godard said the collaboration strengthens recruitment, enhances retention and boosts the university’s reputation.
“This partnership exemplifies Indiana State’s commitment to forging innovative, high-impact alliances that elevate academic excellence and professional readiness,” he said in the news release. “It stands as a model for how public-private collaboration can enrich higher education, demonstrating the transformative potential when universities and industry leaders unite with a shared vision.”
Thompson Thrift was started by Indiana State alums John Thompson and Paul Thrift in 1986. The Indianapolis-based company also has offices in Terre Haute, Phoenix, Denver and Houston.
It ranked fourth on the Indiana Business Journal’s Largest Commercial Real Estate Developers list for 2025 with nearly 14 million square feet under construction or completed in the previous year in the Indianapolis area.
“Partnering with Indiana State University aligns perfectly with our mission to positively impact our team members and the communities we serve,” Thompson, the company CEO, said in the news release. “By investing in the next generation of construction leaders, we’re building a foundation for a more innovative and resilient future.”
Beginning in the fall 2026, junior and senior students majoring in construction management will have the opportunity to earn a $5,000 annual scholarship, renewable for one year. Ten scholarships will be available to on-campus students from Indiana or Illinois.
Furthermore, a departmental program fund provides experiential learning opportunities to students, outreach to middle and high school students, faculty professional development and equipment upgrades.
In addition to the financial gift to the university, Thompson Thrift is contributing $1.3 million toward summer internships over the next 15 years, the news release said.
“The university’s connection to Thompson Thrift began when John Thompson and Paul Thrift started their company as students at Indiana State,” Andrea Angel, vice president of university advancement and CEO of the Indiana State University Foundation, said in the release. “The partnership continues this legacy and provides a framework of how business and industry can partner in meaningful ways with higher education.”
The gift also establishes a named construction management classroom for Thompson Thrift, which will be unveiled upon completion of the Bailey College of Engineering and Technology renovations in the fall of 2026.