LSU Receives $40 Million Planned Gift to Benefit Both Academics and Athletics

01/28/2015 02:17 PM

BATON ROUGE – LSU has received one of the largest gifts in the university’s history – a $40 million planned gift that will benefit both LSU athletics and academics. This marks the largest planned gift ever made to LSU.
 

“This is a significant gift to LSU in so many ways,” said LSU President and Chancellor F. King Alexander. “When realized, it will ensure that our future engineering students and student athletes will have the resources they need for even greater educational success. Planned giving is essential for the future of LSU, providing a solid foundation of future support for growth and innovation.”
 

A planned gift supporting LSU is any donation that directs a portion of a donor’s estate to the university. A planned gift is committed during a donor’s lifetime and realized upon his or her death.
 

The $40 million donation, given by an alumnus and lifelong supporter of LSU athletics, will provide $20 million to the Tiger Athletic Foundation, or TAF, with the intent of benefiting student-athlete scholarships and facilities and $20 million to the LSU Foundation in support of student scholarships in the LSU College of Engineering’s Department of Mechanical & Industrial Engineering.
 

Over the years, TAF has become a critical element in the success of LSU Athletics by providing private funding for scholarships, new facilities and facility upgrades. In the future, as in the past, donations to TAF will assist the LSU Athletic Department and the university in a variety of ways. In addition to contributions to the athletic scholarship fund, TAF continues to provide funding for academic programs and facilities that benefit all LSU students.
 

“The tremendous generosity of this donor will affect the lives of LSU student athletes and mechanical and industrial engineering students for generations to come,” said Richard Perry, president and CEO of TAF. “The donor expressed the motivation behind this record-setting planned gift included the donor’s profound appreciation for the educational experience in the College of Engineering and the role that experience played in the donor’s success in life, along with a love of Tiger Athletics, through which the donor remained connected to LSU and was a source of many of the donor’s favorite memories of time spent with family and friends.”
 

“This gift is also a perfect example of how, through estate planning, LSU supporters can have a major impact on this wonderful institution they hold so dear,” Perry added.
 

As the largest department in LSU’s College of Engineering, the Department of Mechanical & Industrial Engineering cultivates the attributes of the “LSU Engineer” by providing mechanical and industrial engineering students with unique learning opportunities, including a holistic, real-life engineering Capstone Design experience, pioneered by the department more than 30 years ago.
 

“This gift of $20 million dollars is the largest single planned gift to a department at LSU,” said Rick Koubek, Bert S. Turner Chair and dean of LSU’s College of Engineering. “Once realized, it will make a transformational difference for our students studying mechanical and industrial engineering.”
 

“This hallmark gift exemplifies the generous spirit that characterizes our Tiger community,” said G. Lee Griffin, president and CEO, LSU Foundation. “We are humbled by this donor’s desire to impact the lives of our students in a way that will extend far beyond the donor’s own life. A gift of such magnitude establishes a lasting legacy that celebrates the LSU experience and demonstrates the immense positive impact of philanthropic support of our university.”
 

LSU College of Engineering
Founded in 1908, the LSU College of Engineering offers 11 undergraduate degree programs and confers approximately 650 bachelor’s degrees per year, ranking it in the top 10 percent nationally for graduates. In 2013, it became the largest academic college in the LSU System and the fifth fastest growing engineering college in the nation. One-hundred and thirty-five faculty members engage in education, research, and commercialization with a strategic focus on research indigenous to Louisiana: energy and environmental sustainability, and natural and built infrastructure. For more information about LSU’s College of Engineering visit www.eng.lsu.edu.
 

Tiger Athletic Foundation
TAF is a private, nonprofit corporation dedicated to supporting LSU and its athletic program. As the primary source of private funding for LSU athletics, TAF’s mission is clear – to lead the university in building a comprehensively superior athletic program. Contributions to TAF benefit every athlete and every team at LSU through scholarship and academic awards, as well as through the construction and maintenance of athletic facilities. These projects, large and small, chart the unmistakable course to excellence. And it is the shared vision of alumni and friends of LSU that are making excellence a reality at LSU. For more information, visit www.lsutaf.org.
 

LSU Foundation
The LSU Foundation inspires and shepherds philanthropic giving to LSU and builds long-lasting relationships with donors who bring life to current and emerging university priorities. The foundation supports LSU in its quest to enhance the student experience, provide working capital to recruit and retain world-class faculty and staff, support life-changing research, and drive economic development. The foundation is dedicated to stewarding each gift to maximize donors’ impact on making LSU one of the best universities in the world. The LSU Foundation’s 1860 Society is made up of loyal LSU supporters who submit documentation – through an estate intention letter or a copy of the relevant portion of one’s will – naming the LSU Foundation as a beneficiary in his or her estate.  For information please contact the LSU Foundation Planned Giving Office at 800-452-7928 or 225-615-8914 or visit www.lsufoundation.org/plannedgiving.

Ernie  Ballard 
LSU Media Relations
225-578-5685
eballa1@lsu.edu

Posted on Wednesday, January 28, 2015