Donor announces $25 million gift to Kelley School of Business

Bill Godfrey doesn't care much for the limelight. But the self-described quiet man has not been able to escape it since recently agreeing to donate $25 million to the Kelley School of Business.\n"There's too much attention being given to it," Godfrey said. "I wouldn't say I've been hounded by the media. In fact, everyone has been very kind, but I'm a very quiet person and this is very unusual for me."\nGodfrey is an accomplished entrepreneur who, among other things, found success with real estate in South Carolina, the state in which he currently resides. He graduated from IU in 1964 and received a master's degree from the Kelley School in 1968. He said that none of his success would have been possible if IU hadn't offered him a scholarship. \n"I didn't think I'd ever be able to afford college," Godfrey said. "I decided a long time ago that I would leave my estate to Indiana (University) so that they could create other scholarships for people like myself who needed money to go to school."\nDan Smith, dean of the business school, said that Godfrey's estate -- estimated at $15 million -- will be assumed by the school upon Godfrey's death. The estate, received as an endowment, will be used for need-based scholarships.\n"This is an incredible gift," Smith said. "Mr. Godfrey is the epitome of everything we hold dear here at the Kelley School."\nSmith said that only interest on the $15 million estate will be distributed as scholarships. Estimated at $750,000, the interest will be matched by the University bringing the total allocation for William J. Godfrey Scholarships for Undergraduates to $1.5 million annually.\nGodfrey said he hopes the scholarships will be awarded to academically-sound individuals who are interested in IU and financially unable to attend. \nSmith said $5 million of Godfrey's contribution will repay construction loans for the Graduate and Executive Center soon to bear the benefactor's name. An additional $5 million will go directly to the IU Foundation.\n"Everybody is just overjoyed with this," Smith said. "People who have not met Mr. Godfrey and know of his history are just excited beyond belief that he's been so generous with us."\nDespite the new-found attention, Godfrey said he's ready for the hoopla to subside. \n"He's an absolutely delightful man, very humble," Smith said. "He claims not to want recognition, but we're going to politely ignore those wishes and make sure that he knows just how much we appreciate what he's done"