Kellogg’s campaign surpasses $500 million, largest effort to date has launched flagship building, scholarships, new programs

Golub Capital Gives $3.5 Million to Sponsor Kellogg’s Board Fellows Program and Create a Second Golub Capital Social Impact Lab

Since 2003, the Board Fellows program has matched 744 MBA students with 223 Chicago-area nonprofits

CHICAGOApril 22, 2021 – Northwestern University’s Kellogg School of Management has received a $3.5 million gift from Golub Capital to sponsor its Board Fellows program for five years and create a second Golub Capital Social Impact Lab. The gift is designed to enhance the existing Board Fellows program, facilitate more advanced social impact research and share the program’s learnings and expertise with a broader network of leading business schools.

The Board Fellows program, to be named the Golub Capital Board Fellows Program, is a 20-month curriculum that prepares 100 top Kellogg MBA students annually for board service at Chicago-area nonprofits through a combination of academic coursework, board placement and strategic consulting.

The Golub Capital Social Impact Lab will recruit eight Golub Capital Postdoctoral Fellows to Kellogg over five years, creating a “think tank” that works with the MBA students in the Board Fellows program. Golub Capital Postdoctoral Fellows will also collaborate with faculty members across different Kellogg departments on a range of social impact-related research and help export the program to other business schools.

“For nearly 20 years, Kellogg students have meaningfully contributed to the missions of Chicago-area nonprofits through our Board Fellows program,” said Dean Francesca Cornelli. “Golub Capital’s generous gift will help us understand better how board members of nonprofits can provide even more value to these organizations and those served by them.”

Golub Capital is a market-leading direct lender and credit asset manager with over $35 billion of capital under management. The firm employs more than 320 people in Chicago.

“Golub Capital is building a network of social impact labs at leading U.S. business schools. Our goal is to harness the power of these leading academic institutions to enhance the effectiveness of nonprofits,” said David Golub, President of Golub Capital. “Kellogg’s best-in-class program to teach MBAs and alumni how to be excellent nonprofit board members made for an ideal fit for our impact philanthropy effort.”

Golub Capital also sponsored the launch of the Golub Capital Social Impact Lab at Stanford Graduate School of Business, which was established in 2019.

Angela Lee, the Mechthild Esser Nemmers Professor of Marketing, will serve as the faculty champion for the Golub Capital Social Impact Lab at Kellogg, working with the postdoctoral fellows to guide their research, facilitate faculty connections and intellectual exchange via workshops and conferences.

“This gift gives us a terrific opportunity to further enhance our existing program model by bridging research and practice,” Lee said. “Not only will this allow us to build an even more effective program for MBA students, it will also promote and support new social impact research.”

Since 2003, the Kellogg Board Fellows program has prepared 744 Board Fellows for civic leadership and served 223 unique Chicago-area nonprofits. Nonprofit partners include Chicago Cares, Howard Brown Health, The Night Ministry and Ronald McDonald House Charities of Chicagoland & NW Indiana.

With the creation of this Golub Capital Social Impact Lab, Kellogg students will have access to more advanced research and quantitative practices, enabling them to take on even more rigorous projects and deliver greater impact for nonprofit partners.

“Howard Brown Health has benefited for four years from the contributions of the exceptional MBA talent provided by the Kellogg Board Fellows program,” said David Ernesto Munar, President and CEO of Howard Brown Health. “We are excited about how this new investment in the Board Fellows program can further enhance Howard Brown Health’s work providing health and wellness support to the LGBTQ community.”

From a student perspective, the chance to be a part of the Board Fellows program is more compelling than ever.

“The Board Fellows program is one of the primary reasons I came to Kellogg. To me, this program demonstrates Kellogg’s commitment to developing civically-minded leaders who are equipped to drive positive change in their communities,” said Dani Lubin-Levy, a current MBA student and president of the Board Fellows’ student leadership team. “This gift will accelerate the impact the Board Fellows program is having on the organizations we serve.“

The Golub Capital gift counts toward We Will. The Campaign for Northwestern. The funds raised through the ”We Will” Campaign are helping realize the transformational vision set forth in Northwestern’s strategic plan and solidifying the University’s position among the world’s leading research universities. More information on We Will. The Campaign for Northwestern is available at

About Golub Capital

Golub Capital is a market-leading, award-winning direct lender and credit asset manager, with over $35 billion of capital under management. Golub Capital specializes in delivering reliable, creative and compelling financing solutions to middle market companies backed by private equity sponsors. The firm’s credit expertise also forms the foundation of its Late Stage Lending business and its Broadly Syndicated Loan investment program. Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from its private equity sponsor clients and investors. Founded over 25 years ago, Golub Capital today has over 500 employees and lending offices in Chicago, New York, San Francisco and London. For more information, please visit