A $7.8 million contribution from the Richard Grant Lydy Trust marks the second-largest donation made to Drury University in its 150-year history.
The university announced the gift June 27. The money will be used for its Fortify the Future campaign, a $50 million fundraising effort to bolster scholarships, renovate older buildings, grow Drury's endowment and provide seed money for future campaigns. A deadline of May 2027 has been set for the campaign’s completion.
In a press announcement from the university, Drury officials thanked the Lydy family for its generosity, and said the gift comes at an important time. Specific plans for the money will be developed later, according to the announcement.
“As we kick off the 150th anniversary of Drury and focus on fortifying the future, this support will allow us to have an immediate impact on beloved heritage buildings, which are critical for student success and happiness,” said Marie Muhvic, Drury executive vice president of advancement.
Richard Grant Lydy was born in 1895, graduated from Drury in 1910 and received an honorary degree in 1966, according to the release. Lydy and Ben Kissel made their fortunes in the parking industry by acquiring aging buildings in Chicago and transforming them into parking buildings.
The Fortify the Future campaign was officially launched earlier this month. However, university officials have been working on raising money for more than a year. At launch, the university announced that donors have committed about $24 million to the campaign.
Drury will hold its 150th-anniversary event next fall, on Sept. 25. Donors who commit anywhere from $1.5 million to $1,500 between now and Sept. 25, 2024, will be honored via recognition on an “iconic landmark” on the campus. More details can be found on the university’s website for the campaign.
