Kelley philanthropist dies; charity lives on with scholarship

A plaque in honor of philanthropist William Fry will be hung in the Kelley School of Business so that all students have the opportunity to read about Fry’s “story of success and charitable giving,” said Daniel Smith, dean of the Kelley School of Business.

Fry, a man described by others as a friend of the business school, died Sunday at age 72 from multiple myeloma, a form of bone cancer. He had been treated for this disease for years, Smith said.

Recently, Fry donated $15 million to the business school. The money will go to talented students of underrepresented populations who might otherwise not be able to attend IU.

Each year, six to 10 students will be selected to become “William Fry Scholars” and receive a four-year scholarship that will pay for the students’ tuition and room and board.

Fry had said his vision was to make the business school into an inclusive “world-class institution” filled with students of all different backgrounds, said M.A. Venkatramanan, chair of the Kelley School of Business’ undergraduate program.

Smith said Fry had given a substantial amount of money to causes affecting underprivileged children.

However, no matter to what cause Fry was contributing, he never sought recognition.

“He did not want a lot of publicity surrounding his charitable giving,” Smith said.

Many faculty members of the business school have met Fry and have fond memories of the time they spent with him.

Smith said the first time he and Fry had dinner, Fry spent a considerable time looking at the menu searching for the least expensive options available.

“It was quite endearing of him,” Smith said. “I believe he was not wasteful and never lost sight of his humble roots in a small town from Indiana. He never forgot where he came from.”

Richard Dupree, assistant dean of development and alumni relations for the Kelley School of Business, said in one of the occasions he spoke with Fry, Fry bombarded him with questions about every aspect of the business school. Fry loved learning and was inquisitive, Dupree said.

“I can recall being exhausted after the questioning,” Dupree said.

Dupree said he realized after meeting Fry just how humble Fry was.

“He was the most unaffected person of wealth,” Dupree said, “one of the most unassuming, warm donors I have met in a long, long time.”

Not only will Fry’s donation positively impact Kelley, but the legacy he left will continue to inspire others.

“He has inspired us to dream big and give back to others,” Smith said.