Indiana Tech to receive $3.2 million planned gift

Indiana Institute of Technology will receive a planned gift in the amount of $3.2 million from Larry Lee, a longtime university supporter and local philanthropist. The gift will support numerous initiatives around campus, fund several endowments and scholarships, support faculty members, and support the National Society of Black Engineers chapter. Lee hopes his gift will help create opportunity at Indiana Tech.

According to an article on Indiana Tech’s website, President Dr. Karl W. Einolf was quoted as saying, “Larry understands the transformative power of higher education. His generosity will help students pursue their dreams, support important programs across campus and continue Indiana Tech’s mission of creating opportunity through education. This gift is about people. It’s about students whose lives will be changed through education and opportunities that will continue long into the future. We are deeply grateful for Larry’s generosity and his belief in our mission.”

While Lee’s gift will support many initiatives around campus, the largest portion of the gift will establish an endowed scholarship fund to honor former Indiana Tech presidents Don Andorfer and Dr. Arthur Snyder, and current president Dr. Karl W. Einolf. The endowment will work to support students who have financial need, which reflects Lee’s belief that economic circumstances should not hinder someone’s ability to earn an education.

Lee said, “Education is the surest way for a person to change the trajectory of his or her life, but, unfortunately, many are limited by their financial situations. I can’t solve every problem in the world, but I can help create opportunities for a finite number of young people in our community who want to change their trajectories but need help doing so. If I can help level the playing field for these youngsters and help them obtain a college education, then I’ve made a meaningful difference—at least in their lives.”

Other initiatives and endowments that will receive support from Lee’s gift include the establishment of the Lisa Givan Endowment for Culture, Community and Impact, the permanent endowment of the university’s teaching excellence award, and the creation of an endowed fund that supports Indiana Tech’s chapter of the National Society of Black Engineers, which will be named in honor of longtime faculty member and advisor Dr. Susan McGrade.

Lee has lived in Allen County for 72 years and has focused much of his philanthropy on the betterment of his community. He is the owner of Leepoxy Plastics in Fort Wayne. When Lee had a stroke in 2024, he spent some time reflecting on his life and his legacy.

Lee said, “I’ve been fortunate in life and in business. The question became, ‘What do I want my estate to accomplish?’ I’ve always believed we should invest in the people and places around us. To me, and for my limited resources, that means investing in young people and colleges in Fort Wayne, Indiana. I’ve always preferred to honor people who have made a difference. There are individuals whose leadership and service have helped strengthen institutions and create opportunities for others. They deserve to be recognized.”

He added of his gift, “If it helps students build better futures for themselves and their families, then it will have accomplished exactly what I hoped it would do.”

In May 2021, Lee made a then-anonymous $4 million gift to support the construction of the Doug Edgar Indoor Track facility, which opened in 2023. Lee is the namesake of the Leepoxy Plastics Award for Teaching Innovation, which has been awarded to faculty members since 2008.

For more information about Indiana Tech, visit the school’s website.