Louis and Dorothea Schult’s Planned Gift to Fund Four Scholarships Each Year
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Sometimes gifts to Illinois Tech come with great fanfare and publicity. Other times, they are quietly passed along to us, with little or no advance notice. Illinois Tech has received numerous unexpected estate gifts in the past 20 years from alumni, alumni spouses, or friends of the university. These gifts totaling more than $26 million have helped the university fulfill its mission and provide scholarships for deserving students. Yet, the donors involved never told us during their lifetimes that they had made provisions for Illinois Institute of Technology in their estate plans.
One of these unexpected estate gifts came from Louis Schult, who died at the age of 96. Since we had no knowledge that Schult was planning to give his estate to Illinois Tech, we never got the chance to recognize him during his lifetime. But thanks to James Fine, Schult's attorney and friend of 30 years, we know a few things about the life of this generous man and his wife Dorothea.
Schult proudly attended Armour Institute and studied engineering. He was very grateful for the education he received and the life it made possible. He spent his career at General Electric and traveled all over the world opening factories and plants, often taking Dorothea with him. According to Fine, the Schults enjoyed life, living comfortably yet modestly.
Although humble in life, the legacy of the Schults will be made well known to the students of Illinois Tech who will benefit from their generosity. Four scholarships each year will bear the Schult name, and programs across the university will be enriched by Louis and Dorothea's farsighted decision to support Illinois Tech.
Don't Keep Your Gift a Secret: If you have named Illinois Tech as a beneficiary of your estate, please let us know so we may properly thank you and include you as a member of our esteemed Gunsaulus Society.
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