New York City construction magnate makes transformational gift to Tennessee Tech
Until just a few years ago, New York City business leader Tom Iovino had never heard of Tennessee Tech University. In fact, he had never even visited the state of Tennessee.
Now, thanks to a transformational seven-figure gift from Tom and his wife, Judith, generations of Tech students will benefit from exceptional classroom teaching through the new Thomas and Judith Iovino Endowed Professorship.
The Iovinos' connection to Tech began in an unlikely way. While reading a 2019 column by Pulitzer Prize-winning columnist Peggy Noonan in The Wall Street Journal, Iovino was struck by her description of Tech students as "mature—gracious, welcoming, quick with smart questions on presidents and policy."
Noonan, who had previously spoken at the Tech College of Business’s Fall Celebration Dinner, praised Tech as “an amazing school” and noted how it served many students from modest backgrounds and those who were the first in their families to attend college.
"I read about Tennessee Tech and these first-generation students who were working hard and just needed a little help," Iovino said. "I thought, 'I can do something about that.'"
Iovino began donating many of his designer business suits to the College of Business's Scarlett & Murphy Business Professional Closet, a free campus resource that allows students to borrow professional attire for interviews, presentations, networking events and other professional opportunities.
Later, at the encouragement of university leaders, Tom and Judith visited the Cookeville campus for the first time.
"I got a chance to speak to the students, and that made me feel pretty good, too," Iovino said. "I think what connected me with the school was that there are a lot of first-generation kids, and they appreciate this country and what it offers them. It resonated with me that there are teachers who really want to teach. Everybody wasn’t just interested in material things."
Rather than funding a building or having their names placed on a campus landmark, the Iovinos chose to invest directly in the people shaping students' futures.
"I don't need my name on a building,” Iovino said. "But if we could keep the really good teachers there, that would really make an impact with the students."
The Thomas and Judith Iovino Endowed Professorship provides support to retain and recruit outstanding faculty whose primary focus is classroom instruction. The inaugural recipient is Chelsea Dowell, economics lecturer in the College of Business’s Department of Economics, Finance and Marketing.
Thomas Payne, dean of Tech's College of Business, said the Iovinos' generosity reflects a remarkable vote of confidence in the university and that Dowell is an ideal choice as the endowed professorship’s inaugural recipient.
"We are deeply grateful to Tom and Judith for their extraordinary generosity and their belief in our students," Payne said. "By tailoring their gift to specifically support classroom instruction, they are helping the college attract and keep world-class faculty who further our 'students first' mission. Dr. Dowell is an outstanding teacher and mentor. She embodies the creativity, expertise and commitment to student success that are hallmarks of our college."
Dowell has earned widespread recognition for creating immersive classroom experiences that allow students to apply economic principles to real-world challenges. She also founded the Journal for Societal Impact, giving students opportunities to publish scholarly research, and launched the "Everyone Loves Economics" podcast with Tech Honors to help students communicate complex ideas to broader audiences.
Over the past year, her students have presented research at regional and national conferences, earned competitive awards, participated in the Federal Reserve System's Economic Scholars Program and competed nationally for the first time in university history.
For the Iovinos, the endowed professorship represents something larger than philanthropy. After building one of New York's most successful construction companies, Tom says he and Judith have increasingly focused on supporting organizations that create opportunity for others.
"I don't want anything," Iovino said. "I have all that I need. I've been blessed with a great wife, good kids and good grandkids. I think it's incumbent upon me to give back. If I can do some things that make the world a better place, it'll make me feel better about the success that I've had and the money that I've earned."