The gift will fund a new career services center and executive meeting room in Hodge Hall.
It will also fund student scholarship and faculty chair endowment programs.
Throughout the last 10 years, the number of students served by the Kelley School of Business’ Undergraduate Career Services Office has almost doubled, according to an IU press release. This increase has necessitated a new career services center.
“We are thrilled and very thankful that Mr. Prebys has chosen to remember his pivotal time at IU and the school of business in this way,” said Idalene Kesner, dean of the Kelley School of Business, in the release. “His success will continue to have a positive effect for years to come, for our students, our faculty and the companies that hire our graduates.”
The gift will also fund a new amphitheater at IU.
Initially proposed by Herman B Wells, the new amphitheater will border the Jordan River between Bryan House and Ballantine Hall.
It may be used for theatrical productions and quiet study, according to a recent IU Board of Trustees agenda.
“We are extremely grateful to Conrad Prebys for his remarkable generosity and his commitment to preparing our students for highly successful careers in business and the arts,” IU President Michael McRobbie said in the release.
The gift was made as part of IU’s new philanthropic campaign, For All: The Indiana University Bicentennial Campaign, according to the release.
The IU Foundation launched the campaign Saturday, Sept. 26, at a donor event at the Indiana State Fairgrounds.
With a goal of $2.5 billion by December 2019, the campaign is the largest and first University-wide philanthropic campaign in IU history.
The campaign will focus on four goals: enabling student success and support, creating the next generation of global leaders, discovering ideas that change the way we live and creating a healthier state, nation and world.
“Conrad is a model alumnus who through hard work and an exceptional philanthropic vision continues to advance a wide range of institutions that will improve countless lives over the years,” said Dan Smith, president of the IU Foundation, in the release. “Through this gift, he will inspire many generations of IU students to pursue their ambitious dreams and share their successes by creating opportunities for others.”
Prebys, a native of South Bend, Indiana, earned a bachelor of science in general management from the then-School of Business, now Kelley School of Business, in 1955, according to the release.
He later moved to San Diego, where he founded a real estate development company that owns more than 80 apartment complexes and self-storage locations. He remains the president of Progress Construction and Management.
“I love Indiana University, the beautiful Bloomington campus, and it’s exciting to be able to make this gift to the University,” Prebys said in the release. “I am very proud to help the Kelley School build on its strong foundation and further its profound promise to students and their futures.”