In 1901, Lincoln College affiliated with the Decatur College and Industrial School (now Millikin University) in Decatur. The name of the school was changed from Lincoln University to Lincoln College of the James Millikin University. James Millikin, a wealthy Decatur livestock breeder, offered Lincoln University a $50,000 grant for a new building at the Lincoln campus if the school would turn over its charter. The $50,000 grant was on the condition that the citizens of Lincoln would raise $25,000 towards the new building project. The $25,000 was raised and the $50,000 grant was provided to the Lincoln campus.