Sanders’ 2nd gift gives IUS campaign huge boost
A Lanesville couple’s second huge financial gift has helped Indiana University Southeast’s capital fund-raising campaign go over the top — way over the top.
Carlton and Sue Sanders gave $1.5 million to IUS in New Albany, propelling the school far beyond its most recent goal of $10 million. Chancellor E.C. Richardson, in his final weeks as leader of the regional campus, announced at a victory celebration June 17 that IUS had capped its Capital Campaign with a whopping total of $15,020,339.
Just over two years ago, the former Harrison Superior Court Judge Sanders and his wife gave $1 million to the IUS division of Business and Economics to put the school on the cutting edge of e-commerce. It was the school’s biggest alumni gift ever and the first endowed e-business chair at any university in the country.
Exactly how the Sanders’ second million-dollar contribution will be used hasn’t been decided yet. In fact, Sanders said, the school won’t get the money until he dies.
The largest contribution in the campaign was a $3.1 million grant from the Ogle Foundation.
At the victory celebration, Richardson said the campaign will benefit the university for generations to come, particularly through the creation of more endowed scholarships.
IUS publicist Katherine L. Sears said the Capital Campaign began in the summer of 1999 following the assessment by a special committee of faculty and staff that determined three long-term financial priorities of the school: academic scholarships, faculty and staff development, and technological enhancements and acquisitions.
“Originally, analysts projected that such a campaign would only generate $4 million, though the goal was initially set for $7 million,” Sears said. “However, the early success of the campaign prompted the I.U. Southeast Board of Advisors and administration to bump the goal up to $10 million.”
By the fall of 2001 — only two years into the campaign — $10.7 million had been raised. “The goal had been surpassed but the endeavor was far from over,” Sears said.
Sanders, 65, was superior court judge here from 1985 to 1997. Sue Sanders, 60, is a retired systems analyst and computer system designer for Aegon in Louisville. Both say they would not have finished college had it not been for IUS, and that’s why they have given the school a total of $2.5 million in just over two years. Carlton earned a bachelor’s degree in business management, with a minor in economics, there in 1972, and Sue earned a business management degree there in 1981. (She also graduated from Lanesville High School in 1959). They are both the first persons in their families to graduate from college.
Sanders said they have amassed their fortune mainly through Sue’s corporate retirement plan, which kept getting bigger each time her company was sold over a 40-year career. (Aegon, a financial services and insurance giant, bought Providian, which had bought Capital Holdings, which had bought Commonwealth.)
They have also done well in the stock market. “We have a well-rounded portfolio,” Carlton Sanders said. They have no children, lead a frugal lifestyle and rarely take vacations, he added. “We drive our cars for 150,000 miles.”