Drury secures $7.8M donation

Drury University has secured the second-largest donation in its history.

The Richard Grant Lydy Trust is contributing $7.8 million to the Springfield university’s ongoing capital campaign, according to a news release.

“We are very grateful to the Lydy family for remembering Drury in their estate plan in this way,” Drury President John Beuerlein said in the release. “We look forward to investing these funds to enhance the student residential experience on campus.”

Richard Grant Lydy Sr., born in 1895, earned his degree from Drury in 1910 and was awarded an honorary degree in 1966. In the 1920s, he became a parking entrepreneur in Chicago, where he bought and converted vacant downtown buildings to parking structures and started R. G. Lydy Parking Co., according to the Chicago Historical Society.

The funding goes toward Drury's recently announced $50 million capital campaign called Fortify the Future.

According to officials, the campaign proceeds would fund:
• $20 million toward student scholarships and academic programs.
• $18.4 million for building upgrades, such as Stone Chapel, Clara Thompson Hall, Smith Hall and Weiser Gymnasium.
• $10 million toward the endowment for long-term financial security.
• $1.6 million for a catalyst fund to support campaign efforts.

University officials now have raised more than $27 million toward the $50 million goal, according to the release.

The Richard Grant Lydy Trust donation will go toward heritage building projects, with specific details currently being determined, university officials say.