The Illinois Institute of Technology has received a combined gift of nearly $150 million to strengthen its position among higher education institutions across the country.
Announced on Thursday, the donation is the largest cumulative gift in university history and it plans to use it to fund scholarships and new campus facilities.
“This landmark combined gift is a profound investment in our continued role as Chicago’s tech university,” said Illinois Tech President Alan W. Cramb.
“This significant commitment will not only fuel Illinois Tech’s central contribution to Chicago’s tech rise, but it will do so by building on our university’s founding mission to provide unmatched opportunity and value to all young people in Chicago.”
Those who made the gift are Michael P. Galvin, chairman of the Illinois Tech Board of Trustees, and his wife, Elizabeth; University Regent Craig J. Duchossois and his wife, Janet; and former board chair; University Regent John W. Rowe, and his wife, Jeanne; and the late George J. Kacek.