ISU receives its largest individual donation ever, $8 million

Dec. 9—Steve Bailey believes in giving back.

The Indiana State University alumnus and his wife, Gloria, are giving back in a big way with an $8 million gift to the university, the largest individual gift in ISU history.

The gift will benefit the College of Technology, which will now be named the Bailey College of Engineering and Technology, following approval by the ISU board of trustees Friday.

Steve Bailey graduated from ISU in 1971 with a degree in automotive technology and went on to lead Diesel USA Group as CEO until his retirement in 2019.

The gift will create scholarships, faculty fellowships and a dean's fund, according to ISU, which is currently conducting a nationwide search for a new dean.

"If you want to make a difference, you have to put your money where your heart is," Steve Bailey said after the trustees' meeting. "With what President Curtis is doing and what is going on with the Be So Bold Campaign, we felt we needed to keep the momentum going in the College of Technology and to make a gift big enough that it would make a major difference in what's going to happen in the future for Indiana State."

ISU was a starting point for him, personally and professionally, he said. "I was the first in my family to graduate from college. I have always believed we need to give back, we need to pay it forward, and if you are blessed you need to be able to pass that on and help other people."

The university continues to change the lives of first-generation students, he said. "We wanted to be part of that. We know that first in the family graduates change family trees."

ISU President Deborah Curtis said the university is "deeply grateful to Steve and Gloria Bailey for this historic gift. As an alumnus, Steve built upon his experience at ISU to become incredibly successful in business. With this gift, Steve and Gloria will impact more lives than we can imagine and leave a lasting legacy."

Bailey serves on the College of Technology dean's advisory council and the ISU Foundation board of directors.

Gloria worked in interior design and human resources before her retirement in 2014. In 2020, she helped interior architecture design students at ISU to redesign and furnish the atrium in the John T. Myers Technology Center.

"The Baileys are loyal supporters of ISU and have been heavily involved in the advancement of engineering and technology students through their generous donations to the institution," the release states.

Last month, the Baileys were honored as March On! Award recipients in recognition of their philanthropy to ISU.

"Gloria and I are so impressed with the direction of Indiana State under President Curtis' leadership," Steve Bailey said. "We have seen firsthand the great work being done to provide first-generation college students with a high-quality education through mentorship, curriculum, and experiential learning. We feel passionately that the three prongs in this gift — the student scholarships, the faculty fellowships, and the dean's fund — will positively impact the lives of engineering and technology students for years to come."

According to Gloria, her husband attributes much of his success in his career to his time at Indiana State. "We are hopeful that this gift will be the best investment of our lives," she said.

The Bailey College of Engineering and Technology received ABET (Accreditation Board for Engineering and Technology) accreditation for its engineering program in August 2022.

The college currently holds 13 ABET-accredited programs. ABET accreditation verifies that programs provide the quality standards of the profession that's being taught.

The gift will be used for three funds. The first will create Bailey College of Engineering and Technology Scholars for incoming freshmen majoring in a program within the college. The $3,000 scholarships are renewable for up to two years. Fifty such scholarships will be offered each year, the first in fall 2023.

The second fund will be the Bailey Faculty Fellowship Fund, a $10,000 award to five outstanding faculty members. The fellowships, renewable for up to three years, fund activities such as research and conferences but do not supplement salaries. The fund will not only recognize high-achieving faculty members already at ISU but will help the university recruit new faculty to the college.

The third fund provides support to the dean of the college. The gift will dedicate $50,000 to the dean's Fund for Excellence for the first three years of the donation.

The fund will assist the dean with new industry partnerships, expanding existing partnerships, and recruiting students.

The gift implements a new vision to adjust and restructure current college programs to meet ever-changing industry needs and prepare students for careers using applied learning.

"Steve and Gloria Bailey are the embodiment of joyful giving," said Andrea Angel, vice president of University Advancement and CEO of the ISU Foundation. "They have been boldly supportive of our institution by volunteering their time, dedicating their resources, and creating experiential learning opportunities for the betterment of our engineering and technology students. Their recent gift is transformational, and I am humbled by their generosity and faith in the mission of Indiana State University."

Sue Loughlin can be reached at 812-231-4235 or at sue.loughlin@tribstar.com Follow Sue on Twitter @TribStarSue