a BOLD milestone

$100 million raised

Bob and Penny Schafer

Former ISU Vice President Robert and Penny Schafer commit $1 million to Indiana State University

Former Vice President of Administrative Affairs Robert Schafer and his wife, Penny, have donated $1 million during the Be So BOLD campaign to amplify the experience of Sycamores inside and outside of the classroom.

Bob and Penny are both alumni of Indiana State University: Bob graduated in 1961 from the Scott College of Business and earned his graduate degree in 1963 while Penny graduated with her first bachelor’s in 1967, her master’s in 1970, and her second bachelor’s degree, in nursing, in 1991.

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We are incredibly grateful for this meaningful gift from Bob and Penny. The Schafers have always been loyal Sycamore fans and generous in their philanthropy.
Dr. Deborah J. Curtis
ISU President

Bob and Penny have been supporters of Sycamore Athletics for decades with a dedicated involvement in the ISU Varsity Club and Sycamore Basketball. From their generous donation, a cash gift and four endowments will be distributed to better Indiana State University. $200,000 will first be used to contribute to the updates of the Hulman Center Locker Room Area for the Men’s and Women’s Basketball teams.

Indiana State University Athletic Director Sherard Clinkscales said: “Mr. and Mrs. Schafer are true Sycamores in every sense—they want all sports to excel and understand what a successful athletic program and winning basketball team can do for a university. Their gift is profound. These 50-year ticket holders and long-term ISU employees have given so much already with their services over the years. Now, they are stepping up and giving back in a major way for our Men’s and Women’s Basketball programs as well as the Scott College of Business and College of Health and Human Services.”

Of the endowments created in their estate gift, the first $200,000 will provide programmatic support to the Risk Management Program in the Scott College of Business. The second $200,000 endowment will provide programmatic support to the School of Nursing in the College of Health and Human Services.

“Over the years, we have seen Indiana State transform into the respectable athletic program that it is today. We are so pleased to give back to Sycamores and give them the opportunity to be successful in their future endeavors,” said Bob and Penny Schafer. “No matter who you are or where you come from, you can always give back. ISU has been beyond impactful in our lives, and we know that this investment will benefit students for many years to come.”

The third and final endowments in their estate gift totaling $400,000 will go toward the Men’s and Women’s Basketball funds to enhance the experience of our student athletes for years to come.

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Bob and Penny’s consistent dedication to Indiana State is inspiring to the entire community. We are grateful for their bold generosity.
Andrea Angel
CEO of the ISU Foundation