- IUPUI Spirit of Philanthropy Award (1990)
- McKinney School of Law Distinguished Alumni Award (1987)
James V. Donadio was a senior partner in the Ice Miller Donadio & Ryan law firm of Indianapolis, now known as Ice Miller LLP. Donadio became a senior partner in 1963, which was the same year the firm added his name to its title.
In 1988, the firm established a scholarship in his honor for second-year law students at McKinney School of Law with a substantial gift to the school.