Des Moines couple donates $1.5 million to ISU

Donations totaling $1.5 million to Iowa State University by Craig and Virginia Petermeier of Des Moines will benefit both business students and the athletics program.

ISU officials announced today the couple’s unrestricted, deferred gift of $1 million to the College of Business, and a $500,000 pledge to the Athletics Department for facility renovations.

“We are very loyal to Iowa State and wanted to help provide resources for the future of the university,” said Craig Petermeier, president and CEO of Jacobson Cos., a Des Moines-based logistics and warehousing company. “We trust the university leadership to make wise decisions and use our future gifts to benefit the students, faculty and athletics program.”

The commitment was made in response to an $800 million fund-raising campaign publicly launched by ISU last month.

The Petermeiers are longtime supporters of ISU, having contributed to the Steve and Debbie Bergstrom Indoor Training Facility, Johnny Majors Practice Field, Richard O. Jacobson Building and the College of Business. Craig Petermeier, a 1978 graduate with a bachelor’s degree in industrial administration, chairs the College of Business Dean’s Advisory Council, serves on the comprehensive campaign committees for the college and athletics department, and is an ISU Foundation governor.

“Craig and Virginia’s unrestricted deferred gift will allow the college to fund future priorities that may not otherwise be funded,” said Labh Hira, dean of the College of Business. “Whether that need is scholarships, faculty support, program development or building enhancements, this type of support will eventually do great things to benefit the college.”

“Iowa State is in the process of major renovations to Jack Trice Stadium and Hilton Coliseum and private fund-raising dollars are extremely important to these projects,” said Athletics Director Jamie Pollard. “Craig and Virginia are outstanding Cyclone supporters and we appreciate their support and dedication to our program.”