$100M Thomasson gift to IU will rename Kelley graduate school, expand Lilly School scholarships
On Sept. 16, 2026 Indiana University announced a $100 million gift from Jeffrey H. and Benita L. Thomasson that names the Kelley School’s graduate division and funds graduate education initiatives, while a $5 million pledge expands scholarships at the Lilly Family School of Philanthropy.
On Sept. 16, 2026 Indiana University announced a $100 million gift from alumni Jeffrey H. and Benita L. Thomasson to transform graduate education at the Kelley School of Business. The Board of Trustees approved naming Kelley’s graduate division the Jeffrey H. Thomasson Graduate School of Business; the gift, IU said, is the largest individual gift in university history and brings the Thomassons’ total giving to more than $111 million.
IU described planned uses including support for student success, academic innovation, endowed faculty positions, expanded career services, immersive learning and advanced AI training by uniting 19 Kelley graduate programs. The gift will fund the Thomasson Scholars Program for graduate students; the Thomassons also committed a separate $5 million to the Lilly Family School of Philanthropy to expand the Thomasson Scholarship for undergraduate and graduate students.
BusinessIndy examines this development and its implications for Indiana businesses and communities using the linked sources.