- Gertrude Rich Award (1973)
- Honorary Degree (1967)
- Doctor of Laws
- Founders Day
- Bloomington, Indiana
- Presenter: Elvis Jacob Stahr, Jr.
- Distinguished Alumni Service Award (1964)
Grace M. Showalter was a philanthropist and honorary director of the Indiana University Foundation.
Mrs. Showalter bequeathed $1.2 million to the IU foundation and $2 million to the Indianapolis Methodist Hospital's cardiac care division. She also donated $1 million for the construction of an 800‐seat theater auditorium to be built on the grounds of the Indianapolis Museum of Art.
Showlater was a native of Shelbyville, Indiana, and graduated from Indiana University in 1913. She was the first woman director of the Indiana University Foundation and served as its vice president for twenty five years.
Showalter received the university's Distinguished Alumni Service award in 1965 and in 1967 was granted an honorary Doctor of Humanities degree.
Her husband, the late Ralph Showalter, was director of the export division of Eli Lilly.