The action was taken during a meeting last month, according to The Star Press of Muncie. Gora arrived at the campus in 2004.
The newspaper obtained the information through a public records request.
Having started at a base salary of $260,000, Gora's current base is $330,000. A retention bonus in the extended contract calls for 20 percent her total base salaries from 2007 to 2012-equivalent to $330,000 if she were to receive no additional raises.
One trustee, Frank Hancock, said the he wanted stability in the position, particularly now that the university is considering launching a capital campaign.