Archive for the ‘Foundation’ Category

$200 gift began 40 years of giving

Thursday, October 30th, 2008

Forty years ago, in the fall of 1968, as Dr. David L. Rice, president emeritus of the University of Southern Indiana, likes to tell the story, he and Byron C. Wright, who is now vice president emeritus for Business Affairs and Treasurer, were visiting Mayor Frank McDonald in his office in downtown Evansville.

Mayor McDonald was an avid supporter of this not-yet-three-year-old campus and had a profound conviction that the University would be a tremendous benefit for the City of Evansville and the State of Indiana. He often referred to is as “an industry without a smokestack.”

Because the mayor’s support was key to the University’s success, Dr. Rice and Mr. Wright met regularly with him to discuss issues affecting higher education on the Evansville campus. At the end of this particular meeting, Mayor McDonald said, “You will need private gifts to help make that place a success. Folks around here will not want to send their hard-earned money out of town, so I suggest you establish a foundation to benefit our university.” He then opened his wallet and pulled out two $100 bills. “Here is $100 from me and $100 from my wife to begin that foundation.”

When Dr. Rice approached Indiana State University President Alan C. Rankin about creating a foundation, he received further encouragement. In seeking approval from his trustees, Dr. Rankin noted that the establishment of a foundation in Evansville was important. He emphasized Mayor McDonald’s point that Evansville area donors would give more enthusiastically to an Evansville organization. Because the Evansville campus did not have the necessary staff, Dr. Rankin also offered the assistance of the foundation in Terre Haute to help begin this effort.

That $200 gift from Mr. and Mrs. Frank F. McDonald Sr. began 40 years of giving from generous friends to benefit this great University. Frank McDonald had unusual foresight for Evansville and for the University.

This month, we commemorate the 40th anniversary of the USI Foundation, now with total assets of $68 million.

Mayor McDonald’s vision for the University and for the USI Foundation, as well as his active work on behalf of these institutions, serves as witness to what great things can be accomplished with collaboration, cooperation, and wise leadership. Frank McDonald’s efforts to ensure the establishment of the campus in 1965 have earned him the title of “founding father.”

We thank all those who have chosen to support the University over the past 40 years and those who support of the work of the University today.

POST CONTRIBUTED BY: DAVID BOWER, director of Development and president of the USI Foundation.