Indiana University Athletics
IU Receives $10 Million Athletic Scholarship Endowment
7/14/2005 12:00:00 AM | Varsity Club
June 16, 2005
BLOOMINGTON, Ind. - The single largest gift in the history of Indiana University Athletics will provide scholarships for IUB student-athletes who participate in non-revenue varsity sports.
The Glaubinger Foundation, on behalf of Larry and Lucienne Glaubinger, has committed a $10 million gift to the IU Athletic Scholarship Endowment.
IU already has the largest athletic endowment in the Big Ten Conference. It is currently valued at $32 million, including 22 endowed scholarships and 149 named scholarships. The Glaubinger gift increases the value of this endowment by more than 30 percent, raising it to a total of $42 million.
"We are deeply grateful for Larry and Lucie's vision and generosity," said IU President Adam Herbert. "In recognition of the significance of their gift, I am proud to announce that while individual endowed scholarships will continue to bear the name of the donor, IUB's collective financial aid endowment for student-athletes will henceforth be known as the Indiana University Glaubinger Athletic Endowment Fund."
The Glaubinger's scholarship support gift qualifies for matching funds through the "Matching the Promise" fund-raising campaign for the IU Bloomington campus. Bloomington Chancellor and Vice President for Academic Affairs Kenneth Gros Louis said he was delighted that the campus can match the income in perpetuity, thus effectively doubling the impact of its annual financial aid support. "Larry and Lucie are such wonderful people and good friends that it makes this an extra pleasure," he said. "They epitomize what giving back really means."
Each year, beginning with the 2005-06 academic year, a select group of Indiana University Bloomington varsity athletes participating in men's and women's non-revenue sports will be designated as Glaubinger Scholar-Athletes.
Glaubinger graduated from IU with distinction in 1949 and is currently the President of Lawrence Economic Consulting. He is the former chairman of Stern & Stern Industries, an industrial textiles manufacturer. The Glaubingers have demonstrated their commitment to Indiana University through generous support of the Kelley School of Business, IU Art Museum, Wells Scholars Program, and many other areas, in addition to Athletics.
Mr. Glaubinger serves on the IU Foundation Board of Directors, the Varsity Club National Board of Directors and the Dean's Advisory Council of the Kelley School of Business. He has received both the Distinguished Alumni Service Award and an honorary degree from IU.
Mrs. Glaubinger is a member of the Colloquium for Women of Indiana University and the Board of Advisors of the IU Art Museum, where she established the Lucienne Glaubinger Curatorship.
"I had a great opportunity when I came to Indiana, and this is my way of providing similar opportunities to future generations of student-athletes," Glaubinger said. "I am a firm believer in the term `student-athlete,' and I want to help benefit both academics and athletics at IU." Glaubinger added, "I hope this gift will inspire and challenge others to support IU and IU Athletics in a meaningful way."
IU Athletics Director Rick Greenspan points to the Glaubinger Athletic Endowment as the cornerstone of Athletics' campaign to raise funds for scholarships and for capital needs.
"In my first year at Indiana, I have been impressed by the considerable love affair that fans and alumni have for Indiana University. The Glaubingers' tremendous generosity is symbolic of that relationship," Greenspan said. "We cannot express enough gratitude to Larry and Lucie for their support. This is a great lead gift in what we hope is a most successful campaign."
Indiana University Foundation President Curt Simic said that the Glaubingers "understand the power of education to transform lives and bring great benefits to society. The breadth of their giving and the depth of their affection for IU make them treasured friends of the University."
"Larry and Lucie are remarkable people," said Scott Dolson, Associate Athletic Director for Development and Director of the Varsity Club, the fund-raising arm of Hoosier Athletics. "Their generosity and friendship are truly appreciated. The annual scholarship cost for IU Athletics in 2005-06 is expected to be $7.75 million, and those costs continue to rise," Dolson said. "Thanks to the Glaubingers and all of our loyal donors, we are one giant step closer to once again funding all of our scholarships through gifts."
WHAT THEY'RE SAYING ABOUT THE GLAUBINGER GIFT
"Larry and Lucie are loyal friends of IU and have endowed many athletic and academic scholarships through the years. Their most recent gift to Athletics has a huge impact on an already strong athletic endowment. The National Board established the athletic endowment in 1984 and has always placed a high priority on endowed scholarships along with annual giving. This gift kicks off what we hope will be a most successful campaign to benefit our student-athletes." Dr. Charles J. Van Tassel, Chair of the Major Gifts/Endowment Committee of the Varsity Club National Board of Directors
"Very simply, the extraordinary Glaubinger Foundation Gift(on behalf of Larry and Lucienne Glaubinger) to the IU Athletic Scholarship Endowment couldn't have come at a more critical time for the present and future of I.U. Athletics. With this unprecedented gift, it is only fitting that we rename the endowment after the Glaubingers. The gift will help insure that the ultimate end-users, our student athletes, can continue to succeed on and off the playing fields to further I.U.'s tradition of excellence. The legacy of this gift, and the hundreds of student athletes it will serve, will not be long forgotten." Ron Remak, President, IU Varsity Club National Board
"I know that I speak on behalf of all of the IU coaches in expressing sincere appreciation to Larry and Lucie Glaubinger for their generous gift. When you consider the annual increasing scholarship costs, all of our coaches must work extremely hard to recruit top-notch student-athletes to Indiana University. The most rewarding part of my career is when former players tell me how grateful they are to have had the opportunity to earn their IU degree and play collegiate soccer. Thanks to the Glaubingers' loyal generosity, even more student-athletes, in 22 different sports, will have that same privilege." Former Indiana Soccer Coach Jerry Yeagley
"IU has provided me with a quality education that will help me succeed in life. The professors do an outstanding job providing students the necessary skills that companies are looking for in employees. Along with that, IU is a nationally-recognized university that creates a network of well-respected graduates." Two-Time Academic All-American Baseball Infielder Ryan Parker
"Because there are so many of them, I am sure that I will not be able to fully realize all of the amazing benefits of being a student-athlete at IU until later in life, My education here has been first-rate with knowledgeable professors who are also supportive of my athletic endeavors, in addition to athletic department staff who encourage hard work in the class room as well as on the track. Being an IU athlete is a type of education in itself, teaching us how to manage time, deal with others, overcome obstacles and be persistent, but it is our school education that is the underpinning of our future careers which will in turn allow us to utilize those valuable life skills of sports." Indiana Cross Country/Track Athlete and Cross Country All-American Jessica Gall
