The Iacocca Family Foundation has made a $5 million gift to endow the Iacocca Institute and support global initiatives.
The Lee A. Iacocca Institute Endowment Fund will be established as a matching gift of $4 million. An additional $1 million match will support Lehigh’s overall global initiatives. Ultimately, when the match is fully realized, the Iacocca Institute will benefit from philanthropic investments totaling $8 million, while the university’s global initiatives will receive $2 million.
“This generous gift will continue the Iacocca Institute’s unparalleled successes in training the global leaders of the future and further the tremendous legacy of the late Lee Iacocca ’45 and his vision of international educational leadership,” said Lehigh President John D. Simon ’19P.
That, according to Iacocca’s daughter and president of the Iacocca Family Foundation, Kathryn Iacocca Hentz, is exactly what her father would have wanted. “He felt it was important to get people together, to have them communicate and work together, because that’s how you understand someone else’s culture. Our board is very excited about this, and we believe it will, over time, make a real difference to everyone who comes through the door at Lehigh—and then the world they go out into.”