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Thursday, December 4, 2008

Indiana Gets $35m Gift, Renames School

From the Indiana Business Journal:

Indianapolis attorney and businessman Michael Maurer is giving $35 million to the Indiana University School of Law in Bloomington, which has been renamed in his honor.

The gift, the largest in the law school’s history to come from a single donor, will fund an undetermined number of scholarships. Because the donation comes during IU’s $1 billion Matching the Promise fund-raising campaign, the university will match investment income from the gift in perpetuity. ...

Maurer said he wanted to make a more meaningful gift during the capital campaign, which ends June 30, 2010, and IU offered him the chance to name the law school. Noting that he entered IU law with one of the lowest undergraduate grade-point averages in the class, Maurer said, “The irony of it kind of tickled me.”

The new name, the Michael Maurer School of Law at Indiana University, is effective today. ...

Maurer’s gift brings the law school’s fund-raising during the capital campaign to $83 million. Last December, Lilly Endowment donated $25 million for faculty recruitment. IU will match income from that gift, as well.

Update:  The National Law Journal has more here.

http://taxprof.typepad.com/taxprof_blog/2008/12/indianabloomington-gets-35m-gift-renames-school.html

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Comments

Prices are certainly going up. When I was in school Cornell offered to rename the Arts College for a few million dollars. But it's still called the Arts College.

Posted by: mike livingston | Dec 4, 2008 4:44:15 PM