Northern Illinois University has announced that entrepreneurs Michael and Kristina McGrath have endowed the school with a seven-figure gift to support entrepreneurship programs in the NIU College of Business. The new Mike and Kristina McGrath Entrepreneurship Initiative is the largest display of entrepreneurial support in the school’s history, funding student activities, expanding entrepreneurship programs, and investing in faculty.
“Mike and Kristina and the entire McGrath family are heavily invested in the success of NIU and the College of Business. They regularly participate in classes, mentor students and host events,” said College of Business Dean Denise D. Schoenbachler. “This commitment is really an extension of their steadfast support. I’m particularly excited because they are focusing on three key areas: students, faculty and programs.”
Mike McGrath, NIU ‘70, and his family own and operate six auto dealerships in the Chicago area. Mike and his family believe in the value of experiential learning where students get “hands-on” activities outside of the classroom.
“NIU played an important role in my life. It was the entire college experience that helped shape me into who I am today. I was active in the Theta Chi fraternity, which taught me the importance of networking and running an organization,” McGrath said. “This laid the foundation for my success in running my first dealership after graduation. Kristina and I are making this commitment to help prepare NIU students to enter their careers equipped to succeed. We are drawn to the College of Business because we like the hands-on experiences it provides to its students and know that we can have a big impact on building the entrepreneurship program.”
“Mike and Kristina McGrath have built their business by caring about their customers and the experience they have,” NIU President Doug Baker said, hailing the gift as an example of how the 128,000 NIU alumni living in and around Chicago play an important role in the future success of the university and its students. “Today they’ve demonstrated that they also care about NIU students. Their generous gift will significantly enrich the learning experience of students preparing to follow in their footsteps as entrepreneurs.”