ALUMNI-LED SCHOLARS PROGRAM

Closes Its First Year With Lasting Impact

Having been involved in the New Venture Challenge in years past, CMU alumni Stephen Wakeling, ’03 and Erin Gendron, ’06, weren’t strangers to coaching students and recent graduates. Then, 2020 hit.

“From the number of phone calls I received from students and recent alumni asking me how to deal with the changing world, it became clear that these young people need more of this interpersonal help,” Wakeling said. “We realized they need a different kind of mentor.”

With their passion for coaching and mentoring and their vast business experience, Wakeling and Gendron saw an opportunity to give back in a unique way. They started the Wakeling Gendron Entrepreneurial Scholars Program at the start of the 2023-2024 academic year.

“We thought a lot about what we could provide that would have the biggest impact,” Gendron said. “We wanted to include coaching sessions, networking and relationship building.”

A successful first year

The program started with a trip to Wakeling and Gendron’s home base: Atlanta.

Additional trips to Detroit, Austin for the South by Southwest Conference and Traverse City followed. Stephen and Erin introduced the students to other entrepreneurs, connected with them as a group and one-on-one for guidance and mentorship, and exposed them to networking opportunities. Regular cohort meetings ensued, where students planned events to share learnings with their peers.

Looking ahead to year two, the program founders hope for much of the same: mentoring students in impactful ways.

“As an entrepreneur, I’ve spent a lot of time gathering groups of people together and chasing down a vision that not so long ago felt like an impossibility,” Wakeling said. “We have a really great group that isn’t just part of the scholars program — they’re now part of the team. I’m excited to see what we can continue to build together.”

Students traveled to Austin, Texas to attend SXSW.

ALUMNI PAY IT FORWARD WITH $2 MILLION GIFT SUPPORTING COLLEGE OF BUSINESS ADMINISTRATION, ATHLETICS

Alumni Tim and Sherry Magnusson are recognized at a CMU basketball game.

Over the years, Tim and Sherry Magnusson have given their time, talent and treasures to Central Michigan University, their alma mater. Earlier this year, they made their largest gift to date — $2 million — to support the CMU College of Business Administration and CMU Athletics.

Tim studied business and German at CMU and has spent his career in the finance world. He helped found and serves as chief investment officer of Garda Capital Partners in Minneapolis. Sherry studied business administration and marketing, working in human resources until leaving the corporate world to raise their two children. She devotes much of her time to volunteer positions.

Jennifer Cotter, CMU vice president for advancement, said the Magnussons have led the way in determining how their gifts will be used.

“Tim and Sherry have such passion for helping CMU students and have creatively used their gifts to benefit areas close to their hearts,” Cotter said.

Foundation in finance

Fond memories from their time as students in Grawn Hall have inspired the Magnussons to pay it forward for years to the College of Business Administration, specifically the finance program.

College Dean Chris Moberg said their newest gift will enhance opportunities for finance students to learn through real-world experiences such as competitions and corporate visits.

“Tim and Sherry have ensured the next decade of finance students will have access to experiential learning opportunities, which we are truly grateful for,” he said. “These experiences set CMU, our students and alumni apart, helping them develop as professionals and future leaders in their organizations and communities.”

Their previous gifts established the Magnusson CBA Study Abroad Award, the Magnusson Internship Fund and the Magnusson Endowed Professorship, which supports the faculty member who directs the Michigan Finance Scholars program. A room in Grawn Hall also is named after them.

Tim is a member of the College of Business Administration Dean’s Advisory Board, and the couple regularly volunteer for events such as Dialogue Days and the New Venture Competition. He regularly hosts students and faculty at Garda Capital, and hires CMU interns and graduates.

“CMU students and alumni I hire outhustle and outwork everyone,” Tim said.

A lifelong ‘right choice’

Tim, one of CMU’s first Centralis scholars, said the financial support he received from Central enabled him to go to college.

“The Centralis scholarship was a life changer because my parents didn’t have the means to send my brother and me to school at the same time,” Tim said.

Sherry said she needed and found a different type of support at CMU.

“I was the first generation in my family to attend a four-year university. I needed a work-study job to help it all come together, and Central gave me that. It also gave me the guidance and confidence I needed,” she said.

As students, Tim and Sherry also loved attending sporting events, beginning a lifelong commitment as CMU Chippewa fans. This commitment influenced their decision to also fund the enhancement of student-athlete health and well-being services.