2020
DEAN’S REPORT
Contents Message from the Dean
3
Showcasing Faculty Excellence
4-5
Students Leading the Way
6-7
The Impact of Scholarship Support
8-9
UIC Business, By the Numbers
10
Alumna Profile
11
Event Recaps
12-13
Alumnae Spotlight
14
Thank You, Don Bielinski
15
Inspiring Alumni Make a Difference
16-17
Stuart Handler Department of Real Estate
18-19
The Impact of Philanthropy
20
Donor Recognition Society Honor Roll
21-23
Community and Connections
24-25
Dean’s Report
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Message from the Dean “Community is the heart of UIC Business and, as a valued member of the college, please know that we are in this together— and we will get through this, together.” First and foremost, UIC Business extends our sincere thoughts and best wishes to all of you as we learn to cope with the devastation of COVID-19 and other troubling events throughout the nation and world. At UIC Business, our primary goal is to provide a transformative and accessible education to a diverse population of talented, resourceful and driven students. Since its inception in 1966, the college has prided itself on the ability to grow and change to meet the demands of an ever-changing business landscape and world. Despite the complications of the coronavirus, we continue to adapt to meet those demands. This summer the college created two new academic departments: a marketing department and the Stuart Handler Department of Real Estate. We launched a new two-year freshmen cohort program that is expected to increase retention and graduation rates by enhancing student learning and engagement through smaller class sizes and building stronger relationships amongst students in the same cohorts. More information on these new and other initiatives can be found in this report. So many of our students come from low-income households and work part or full time while managing their studies. Without a doubt, COVID-19 has caused a great disruption in their lives—on and off campus—and has made it difficult for them to continue 3
at UIC. We are working diligently to ensure that we can lessen the academic and financial burdens they are facing. Last year, the Get to Graduation Fund was established to help students within a semester or two finish their degrees on time. Additionally, scholarship support is a key priority in our fundraising efforts. We are incredibly thankful to our compassionate and generous alumni and donors who are thinking of our students in these difficult times. UIC Business would not be the same without them and you. This academic year will undoubtedly present numerous challenges—and we are ready. Community is the heart of UIC Business and, as a valued member of the college, please know that we are in this together—and we will get through this, together. UIC Business is thinking of you and we look forward to seeing you back on campus soon. Sincerely,
Michael B. Mikhail, PhD Professor and Dean For more information on how UIC is responding to COVID-19 and protecting its community, please visit UIC Today to learn more. Dean’s Report
Showcasing Faculty Excellence
Melissa Martin
William O’Brien ’00
Assistant Professor of Accounting
Assistant Professor of Finance
Melissa Martin is an assistant professor of accounting and her research focuses on how incentive compensation impacts a wide array of business outcomes. In a recently published study, she examines whether equity research analysts can gain additional insights about the future prospects of a firm from the current compensation of their CEOs. Martin and her coauthors find that the part of current compensation not explained by current performance helps equity analysts gain insight into the board’s expectations of future performance. In another recently published paper, Martin examines how and why firms choose performance peers outside of their industry in favor of firms who share a similar stage of development.
William O’Brien ’00 is an assistant professor of finance, and his research focuses on corporate taxation, corporate governance and employment. One of his recently accepted studies examines how company employment levels fluctuate with changes in economic conditions. Unlike the U.S., large parts of Europe and Asia are dominated by business groups where a single family or shareholder controls a firm. While these structures are not without disadvantages, O’Brien finds that groups’ employment levels are less sensitive to both economic booms and busts. During downturns, groups reallocate their higher-value employees to the best firms within the group, while during growth periods they efficiently redeploy their workers across the group to minimize hiring and training costs. As the world enters a new economic reality, O’Brien’s research suggests one way in which employment uncertainty might be reduced for workers.
Martin’s research has been published in top academic journals including Academy of Management Journal, Contemporary Accounting Research and the Journal of Management Accounting Research. Martin has been invited to present her research at universities and conferences all over the world. In addition to her research, Martin has been commended for her contributions to the profession and being recognized as an outstanding referee and appointed leader in several professional associations. Martin has been recognized by both her students and peers as an outstanding teacher, receiving multiple teaching awards at both the undergraduate and MBA level. To learn more about Martin and her research, click here.
Dean’s Report
O’Brien’s research has been published in top finance, accounting and management journals such as the Journal of Financial Economics and the Journal of Accounting and Economics and Management Science, and has been presented in top conferences such as the Western Finance Association Annual Meetings, the Journal of Accounting and Economics Conference and American Economic Association Annual Meetings. He is the recipient of the UIC Business Excellence in Teaching Award and the UIC Silver Circle Award for Excellence in Teaching. To learn more about O’Brien and his research, click here.
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The Honorable George Scully
Ali Tafti
Clinical Assistant Professor of Accounting
Associate Professor of Information and Decision Sciences
Judge George Scully (retd.) is a full-time clinical assistant professor of business law and business ethics. Scully assumed the responsibilities for the Accounting Business Ethics program in 2016. Working with the Illinois CPA Society and the AICPA, Scully updated all course content for the revised Code of Conduct for CPAs and arranged for his students to take the National Accounting Ethics Exam (a requirement for Illinois CPAs) as part of the business ethics course. He is the co-author of the textbook Business Ethics: A Conversation and represents UIC Business on the University Student Ethics Committee.
Ali Tafti is an associate professor of information and decision sciences. Tafti teaches graduate-level courses on econometrics, causal inference and social network analysis. His research focuses on the economic and strategic impact of information technology investment, social and collaborative networks and causal inference methods. Tafti’s research contributions include economic models that depict vast networks of industries and firms and reveal how the digital resources create intangible value while transforming and redefining the boundaries between firms. In collaboration with PhD students, he investigates questions about the economic and social implications of digital innovations. Recently, he has also turned his focus to methodology, with a forthcoming publication that provides practical guidelines for using causal graphs to evaluate the design of experiments and to uncover more nuanced theoretical mechanisms that explain their results. He is currently exploring new ways to inform policy and ethical decisions through the use of causal graphs. His work is published in the premier information systems and business journals.
Before joining UIC, Scully was an Illinois court judge, a member of the Illinois House of Representatives and an instructor at the Advanced Judicial Academy of the Illinois Court Systems. Scully is an adjunct professor at the UIC John Marshall Law School and serves on the executive committee of the Illinois Judges Association. As a business lawyer, Scully served as general counsel for several Chicago area banks, a commercial litigation attorney and a federal bank examiner. To learn more about Scully and his research, click here.
Tafti received a letter of recognition from Dean Mikhail for outstanding teaching in 2019. His research has received multiple awards and was recognized by his students for excellence in teaching. To learn more about Tafti and his research, click here.
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Dean’s Report
Students Leading the Way What do you think is important in becoming a student leader? I believe that good leaders know how to listen. Communicate your ideas and suggestions in a compelling manner. Most importantly, work in a team—harness others’ strengths as well as weaknesses. Motivate others to do greater things. How involved are you presently with student organizations and how has your experience been as an active member? I am actively involved with student organizations. I am on the Executive Board of the Graduate Student Council. I represent the graduate college in in the Information Technology Leadership Council Educational Technology Committee. I have been working with the Office of International Services and Beta Gamma Sigma UIC Chapter. I was also involved with the UIC Institute for Operations Research and the Management Sciences Chapter. I have loved working with these student organizations. They have given me an opportunity to learn more about myself, have fun, network, make friends and help others.
Chancellor’s Student Service Award Recipient, Mrinal Ashok Bageshwari, an information systems graduate student, shares her UIC Business journey. Ashok Bageshwari traveled across the world from India to Chicago last fall to pursue her academic career. From the beginning of her journey at UIC, she started to make an impact with her tremendous contributions to the student community and Chicago area. The Chancellor Student Service and Leadership Award is one of UIC’s highest honors. How do you feel about receiving the award in your first year at UIC? I feel incredibly honored and delighted to have received this prestigious award. The 50-year tradition of recognizing students’ efforts contributes to our continued learning. The experience of being nominated and selected as a recipient has truly boosted my confidence. I dedicate this award to my astoundingly supportive family, friends and peers at UIC.
Dean’s Report
What experiences do you think contributed to receiving this award? Is there a program or initiative, in particular, that is close to your heart in which you are incredibly proud? I am proud of my involvement with the UIC Office of International Services First Friends Program. I moved to the U.S. in August 2019 with very little idea of what life would be like and I felt lost. The program has helped me better deal with culture shock, familiarizing myself with the U.S., navigating UIC, selecting courses and other challenges. All of this fueled my motivation to be a first friend to incoming international students. I assisted with their adjustment to the university, Chicago and life in a new country. I tried my best to provide students with academic success strategies, time management tactics, skill development and leadership development opportunities. I hold it close to my heart because it reminds me of how far I have come. What is the driving factor to your success at UIC? I have noticed my transformation from a being a newcomer to an experienced student learner at UIC. Moreover, I have evolved as a person after coming to UIC. My hunger to learn new things has given me the power to achieve success. I found ways to contribute to the community and poured my heart into them. What does your legacy look like? I want to be remembered as someone who has significantly contributed to the community. Your legacy doesn’t have to be a grand concept; try to focus on what matters the most to you. This article originally appeared on the UIC Business blog and was edited for length and clarity.
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New Student Cohort Launches at UIC Business This fall, UIC Business launched a two-year undergraduate cohort program designed to increase student retention and success. Incoming first-year students will be placed in cohorts of 60 to 65 students and will take the eight business core courses together. As part of this program, two initiatives will be implemented. The first is a Business Career Closet that will make available professional clothing to students at no cost, enabling them to confidently attend business events. The second is the creation of Cohort Captains, upperclassmen trained to build a sense of community among students in their cohorts through engaging activities. An important component of the program is a success team for each cohort, comprised of the Cohort Captains, faculty, professional mentors, a career coach and an academic adviser. It is expected that the cohort experience will increase retention and graduation rates by enhancing student learning and engagement through smaller class sizes, increasing support through the success team and building stronger relationships amongst students in the same cohort.
Flames Consulting Group Flames Consulting Group (FCG) is the first official consulting student organization at UIC. Founded in fall 2018 by student Karina Utyuzh and established as an official UIC organization in fall 2019, FCG has set a network for students to learn about pursuing a career in consulting through experiential learning such as case preparation, real-world client projects, case competitions and various workshops with bigname consulting firms throughout the academic year. This young organization has experienced considerable growth and embraces an innovative culture that continues to develop and deploy new opportunities for members. FCG leverages connections to industry leaders and works in concert with UIC Business faculty to develop experiential learning opportunities to prepare members for careers in consulting. Learn more about the work and accomplishments of this student organization by visiting their website at flamesconsulting.group.
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Dean’s Report
The Impact of Scholarship Support
Giselle Downs ’20
Recipient of the Newman Family Business Scholarship “My scholarship has allowed me to work less during the school year, allowing me to focus more on my education and studying for the CPA exam. My little brother is a sophomore at UIC, and if it were not for this scholarship, I would be working many more hours to help him finance college.”
Michal Kornecki ’20
Recipient of the Richard J. Nowak Business Student Scholarship “This scholarship allows me to focus on my education and professional development. With less worry about the costs of going to UIC, I can spend more free time on my interests, goals and finding internships. More focus on these activities will allow me to effectively pursue my career path and goals after graduation.” Dean’s Report
Hareem Khaliq ’20
Recipient of the Jerry Weiss Memorial Scholarship “I am extremely grateful to receive this scholarship. It has helped fund my education and motivates me to keep doing my best. Education is my number one priority and being able to focus my learning on an aspect of business that I care deeply about is very rewarding.”
Karlo Manzo-Arroyo ’21
Recipient of the Heller Family Scholarship “My scholarship is making my dream of going to college and completing an undergraduate degree possible. I come from a low-income family that I cannot rely on for financial assistance. This scholarship is a blessing. It will allow me to stay focused on my grades, complete an undergraduate degree and give back to my family and UIC.” 8
Julian Pacheco ’20
Recipient of the Eric Werner Fors Award “I am extremely grateful for the award, and intend to continue on a path of academic success by maintaining my GPA, volunteering for different organizations, giving back to my community and engaging in business activities on and off campus. My family and I are beyond appreciative. It has truly had a positive impact on all of our lives.”
Leopoldo Rodriguez ’20
Recipient of the Deloitte Foundation Scholarship “My scholarship covers a significant portion of my tuition and fees, and allows me to decrease the amount of student loans I need. By reducing the amount of student debt I have at the completion of my degree, I can potentially provide a better life for myself and my family, and perhaps finance any future academic goals I may have.”
Coraihma Sosa ’20
Recipient of the RSM Accounting Award “Receiving my award helps me and my family immensely. Before being selected, we were very concerned about how we were going to be able to afford my last year at UIC. Since I was selected to receive this award, I was able to decrease my work hours and really focus on my education.” If you are interested in supporting or creating a scholarship, contact Lisa Riley, assistant dean of advancement and director of development for UIC Business, at lriley5@uic.edu or (312) 206-8188.
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Dean’s Report
UIC Business, By the Numbers
No. 3
online bachelor in business administration nationwide**
Top
10
8
best value universities†
20%
4,234
best undergraduate business programs**
Graduate degrees
5
Ranked
Total Enrollment
Top
Doctoral degree concentrations
Undergrad degrees
7
10th
in social mobility*
First-generation UIC Business students
38%
*U.S. News & World Report (2021) **U.S. News & World Report (2020) † Wall Street Journal/Times Higher Education College Rankings (2020)
Dean’s Report
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Alumna Profile UIC Proud: Alumna’s Reflection on Her UIC Experience I’m Christina Roberts ’11, associate director of Chicago area alumni engagement for the UIC Alumni Association, and I am a proud UIC alumna. Attending UIC was intentional. I was raised in a unique environment, where cultural diversity was supported and celebrated by friends, family, neighbors and the greater community. As I thought about college, I knew that I wanted to study in an urban environment, so that I could explore the campus and the greater city around it. More importantly, I wanted the campus to have a diverse and inclusive student and faculty body, since those were core values of mine. I visited many campuses across the midwest region, and UIC was the final and most anticipated visit. When I arrived on campus for a tour, I saw diversity amplified. From the classrooms to the study areas, from the cafeteria to the resident halls, diversity—in every sense of the word—was bustling around me. I knew immediately that UIC was the campus for me. UIC became a part of my life in ways that I did not expect. Since graduating, I have seen the campus transform from a quiet, transactional environment into a vibrant community. While still a student at UIC Business, I interned with campus housing. Through my work, I became fascinated with learning about a nonacademic part of the university. During that time, I was studying on the east campus, working on the west campus and living on the south campus. This exposed me to people with various relationships to the university. A common theme I observed from those individuals was a sense of strong pride of the university. At that moment, UIC felt more like “home,” and I wanted to be a part of a team that helped advance the university’s mission, which led me to my current role with the UIC Alumni Association. In my work I have the chance to speak to fellow UIC alumni about the importance of getting involved and giving back. I ask them to think back to their time as a student and consider the value they placed on alumni interactions, and how those opportunities enriched their student experience. I would challenge alumni to explore the UIC Business website and discover the many ways to get involved, while also encouraging them to connect with staff to help identify the best opportunity for them based on their personal interests. I’m so proud to be a UIC Business alumna, knowing that UIC 11
“At that moment, UIC felt more like ‘home,’ and I wanted to be a part of a team that helped advance the university’s mission.” Business is a top-ranked, internationally known program with a strong and influential alumni network. That is my motivation to continue to stay connected and involved. Visit the UIC Alumni Association to learn how you can volunteer and get involved.
Dean’s Report
Event Recaps July 31, 2019
UIC Alumni Luncheon at Deloitte
Dean Mikhail visited the Deloitte office in Chicago for a special lunch and shared college updates. More than 150 alumni were welcomed.
August 7, 2019
UIC Liautaud New Student Reception and Alumni Panel
This event welcomed new incoming students to the UIC Business Liautaud Graduate School, where they networked with each other and faculty, as well as heard success stories from a panel of outstanding UIC Business alumni.
Dean’s Report
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Event Recaps September 12, 2019
UIC Business Alumni Networking Reception at CH Distillery
The UIC Business Alumni Network hosted UIC Business alumni and friends for an evening reception at CH Distillery. Guests enjoyed specialty beverages and light hors d’oeuvres while mingling with alumni and former classmates.
November 11, 2019
UIC Business Cocktails and Conversations with Curtis Granderson ’03
As part of the ongoing Alumni Leadership Series, the UIC Business Alumni Network held a Q&A event featuring MLB superstar, philanthropist and UIC Business alumnus Curtis Granderson ’03. Granderson shared his insights into leadership on and off the field, discussed his commitment to giving back and socialized with fellow UIC alumni and guests.
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Dean’s Report
Alumnae Spotlight Partners in Business, Friends for Life The friendship between Maria Prado ’86 and Hilda Renteria ’86 began at the UIC library in the mid-80s. They were both undergraduate students at the College of Business Administration majoring in accounting, and Prado asked to join Renteria’s study group. That moment would determine so much of their professional and personal lives for decades to come. Prado and Renteria’s passion for accounting began for both in high school after taking a bookkeeping classes. They enrolled at UIC to study business and begin pursuing careers as certified public accountants. There were challenges—like juggling work and study and navigating a complex university setting—but they found strength in friendship and their study group. In 1986 Prado and Renteria graduated from UIC Business with Bachelors of Science in Accounting degrees, and began work at First National Bank of Chicago (now JP Morgan).
Maria Prado ’86
“UIC is part of the foundation that propelled me into the world of business, accounting and having a successful CPA firm.” After a couple years of working at the bank, Prado asked Renteria to join her in starting their own public accounting firm. As Renteria describes, “I was inspired by Maria to join her in creating a firm owned by Latinas.” Prado & Renteria started with a single contract for the Chicago Park District, and once that project was complete, the partners realized they needed a marketing plan to bring in additional business. Their planning, passion and commitment to clients and community paid off. Thirty years later, Prado & Renteria is still in business and is the largest Latina-owned CPA firm in Illinois.
Hilda Renteria ’86
Dean’s Report
Despite the demands of running their own business, Prado and Renteria find time to give back to the UIC Business community. As Prado shares, “Just as we have been the recipients of others who give back, it is now our opportunity to give back.” In Renteria’s words, “UIC is part of the foundation that propelled me into the world of business, accounting and having a successful CPA firm.” The UIC community is stronger for their commitment and congratulates Prado and Renteria on the 30th anniversary of the firm.
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Thank You, Don Bielinski
UIC Business thanks alumnus Don Bielinski ’71 for his more than a decade of service on the Dean’s Business Advisory Council. Bielinski has capably led this essential team of alumni and friends of the college since 2005, and his leadership has been an inspiration to many and of great benefit to the UIC Business community. Like many UIC students and alumni, Bielinski was the first in his family to graduate from college. He commuted to class, took a full-course load and worked part time to put himself through school. Bielinski went on to attain post-graduate degrees from Stanford University and Northwestern University’s Kellogg School of Management, but he maintains that some of the most important lessons in his education came from his time at UIC. Bielinski used his education and drive to great success in his career as a business executive with companies like Grainger, Exostar and Hudson Highland Group. Bielinski is currently a managing partner at SMB Interim Management. Bielinski’s commitment to UIC will be felt for years to come. In addition to his service on the Business Advisory Council, Bielinski serves on the University of Illinois Foundation Board and is a generous contributor to IGNITE: The Campaign for UIC. UIC is a better institution because of his generosity and service, and we celebrate the impact he has had in the UIC Business community.
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Don In His Own Words “UIC taught me the value of diversity. I went from a high school experience of lookalikes to a group of 20-plus UIC friends (we called ourselves the ‘Lounge Group’ as we always met in the Montgomery Lounge at the student union) of divergent ethnicities, income levels, religions, citizenships and races. I learned to cherish and value the concept of difference.” “UIC taught me the value of hard work. Like all my UIC friends, I commuted and worked 20 hours per week while taking a full-class load. Hard work was just part of life at UIC. Postgraduation, working hard to build my career was second nature and a competitive advantage.” “UIC taught me the value of tenacity. The courage to succeed, overcoming obstacles and confidence in my abilities define the everyday lessons learned at UIC.”
Dean’s Report
Inspiring Alumni Make a Difference The Mission to Remedy Chicago’s West Side
What experiences at UIC inspired the Pickett family to form Earth’s Remedies? Seeing my UIC African American colleagues come from struggling and disadvantaged environments with little to no assistance encouraged my sister and me to form Earth’s Remedies and practice social activism. Hearing my African American friends and classmates share their stories showed me that we are all in the same fight against inequality, and with collaboration we can make a change. Earth’s Remedies’ goal is to redevelop low-income Black communities in Chicago. What was your vision for the West Side Community Development Project? ‘Save the West Side, Chicago’ is an extension of Earth’s Remedies’ call to action. Low-income communities are disproportionately targeted in terms of loan discrimination and a lack of economic development. These areas have a lesser chance of successfully developing their businesses. The ‘Save The West Side, Chicago’ movement sought to close this resource gap. We gave financial aid to Black and Brown businesses affected by COVID-19, riots and looting. Unfortunately, many of them did not receive assistance from the city, state or federal government.
When Chicago was reeling from the effects of mass protests and looting incited by racism and police violence this summer, Charles Pickett ’17 saw an opportunity to invoke change by restoring local communities. Pickett operates a non-profit organization, Earth’s Remedies, where he serves as vice president and chief business development director. His sister is the president of Earth’s Remedies. The sibling duo created a fundraiser to rehab damaged Black and Brown businesses on the West Side of Chicago. Describe your non-profit organization, Earth’s Remedies. The unemployment rate, scarce affordable housing, lack of fresh produce and high crime rate indicates the strategic disinvestment of Chicago’s west-side communities. Earth’s Remedies connects residents in these neighborhoods to free educational, career, financial, wellness and conflict de-escalation resources. Seeing the results of this work led us to support the larger West Side Chicago area.
Dean’s Report
You created a fundraiser to help struggling business owners. What were the reactions from business owners who received assistance and how do they plan to use the funds? The business owners we contacted were in complete and utter disbelief. The majority of them told us that no one has ever reached out to offer developmental or financial assistance. We understood the complexities of balancing personal life and being an entrepreneur, so business owners were directed to use their grant toward anything to support their business or livelihood, such as paying rent, stocking inventory or repairing their building. In acknowledgment of Chicago’s Black Lives Matter movement, what is the next step to ensuring that Black businesses in the city continue to thrive? Earth’s Remedies is very engaged and determined to support the groundwork that uplifts marginalized West Side communities. For example, we share information about business grants and connect entrepreneurs to professionals who can address their needs. The goal is to be a community pillar that our neighborhoods can turn to for help. This article originally appeared on the UIC Business blog and was edited for length and clarity. Visit the blog to read the article in its entirety and to learn more about Earth’s Remedies.
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Future and Junior Leaders in Business Program The UIC Future Leaders in Business Program (FLB) is a free summer program designed for rising high school seniors from traditionally underrepresented groups. The goal of this five-week program is to expose participants to the UIC campus and offer comprehensive programming in leadership development and career exploration while receiving academic instruction in the core business areas of accounting, finance, marketing and management. A generous gift made by Alan Heller ’75 and Abbe Heller ’80 will provide the opportunity for high school freshman and sophomore students to participate in the Junior Leaders in Business Program. “Al and Abbe Heller’s generous gift to the FLB program has provided direct financial support to individual students, as well as programmatic support for FLB Junior, a new college immersion program for high school freshmen and sophomores interested in business,” Alanna O’Connor ’94, MA ’07, assistant dean of student recruitment, says. “Their gift is having a direct impact on college access and success for a population of students that includes members of underserved communities.”
Get to Graduation Fund Established In a given year, more than 100 UIC Business students find themselves in a sudden, precarious financial situation that prevents them from graduating on schedule. Medical emergencies, disruptions in family income and other unplanned events transpire, and students who would otherwise be graduating in a semester or two are stuck in financial limbo. Assistant Dean of Students Angela Prazza Winters ’91, MPA ’07 estimates that $250 to $500 can determine whether many of these students graduate on time. To ensure that students are not held back from graduation by financial emergency, UIC Business has established a new fund. The Get to Graduation Fund will provide grants to students who have exhausted their financial aid options and are within a semester or two of graduation. Grants will be awarded on a onetime basis to qualified students to cover the cost of attendance at UIC. Upon learning about the need for this type of support among UIC Business students, Michelle Jonson ’01 was moved to provide a lead donation for the fund. “As a first-generation college student who made it through school with student loans and various part-time jobs, I understand how a short-term setback might be enough for a student to get discouraged,” Jonson explains. “I hope the assistance this fund can provide will remind students that this effort is worth it and can shape the rest of their lives.” Click here to support the Get to Graduation Fund. 17
Dean’s Report
Stuart Handler Department of Real Estate UIC Business is gaining a new department. This fall the Stuart Handler Department of Real Estate officially launched. Staying true to its mission, the college continues to evolve to meet the demands of business and serve the needs of all of its students, and the inclusion of the Stuart Handler Department of Real Estate is one of the many ways the college continues to do so. The department will provide a unique educational perspective and relevant credentials for students, support the local real estate industry by educating leaders, and develop practices that advance academic and practical knowledge in the field. By offering specialized real estate courses taught by leading teachers in the field, the Stuart Handler Department of Real Estate will prepare students for high-paying jobs in a large, important industry and for graduate programs in real estate, business and law. Faculty will conduct academic research on issues related to real estate markets with an emphasis on urban markets. Real estate research encompasses policy issues such as local economic development, land use, housing affordability, assessment practices and property taxation
Stuart Handler
CEO of TLC Management Co.,
The opportunity to establish the department would not be possible without the tremendous generosity of Stuart Handler, CEO of TLC Management Co., an award-winning, full-service Chicagoland leasing and management company. Handler started his career nearly 50 years ago with a $10,000 loan, and with brokerage commissions from selling commercial and investment real estate began buying apartment buildings and building shopping centers. Handler has become arguably the largest single owner of apartment buildings in the Chicagoland area, owning and managing 5,384 apartments in more than 100 buildings.
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“I want to give people in Chicago and students at UIC— a population that largely comes from families who have immigrated to this country—a chance to have a stake in the real estate in their neighborhoods.” “I have been of part of the real estate industry for nearly 50 years. The most rewarding part of my job is giving people good shelter,” Handler says. “We employ 135 people who spend their time and effort making sure our residents’ needs are satisfied. It is a difficult but satisfying job.” In 2010 Handler was inducted into UIC’s Chicago Area Entrepreneurship Hall of Fame. It was the 25th anniversary of this prestigious award and was jointly sponsored by UIC Business and its Institute for Entrepreneurial Studies. He was recognized for buying neglected apartment buildings that were mismanaged or in disrepair and turning them into sound, functioning places to live.
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“I want to give people in Chicago and students at UIC—a population that largely comes from families who have immigrated to this country—a chance to have a stake in the real estate in their neighborhoods,” Handler explains. “This a great opportunity for graduates of the department to find jobs in this vital industry.”
Meet the Department Head Daniel McMillen, PhD, is the head of the Stuart Handler Department of Real Estate and a professor of finance at UIC Business. He served as coeditor of Regional Science and Urban Economics from 2007–17 and as president of the American Real Estate and Urban Economics Association in 2017. Since receiving his PhD in economics from Northwestern University in 1987, he has been a member of the economics departments at the University of Oregon, Santa Clara University, Tulane University and the Chicago and Urbana-Champaign campuses of the University of Illinois. He has published widely in real estate, urban economics, housing economics and related fields. He is a fellow and a faculty member of the Homer Hoyt Institute, a consultant in the regional analysis group at the Federal Reserve Bank of Chicago and a distinguished fellow at the Lincoln Institute of Land Policy.
Dean’s Report
The Impact of Philanthropy IGNITE: The Campaign for UIC Through the IGNITE Campaign for UIC, UIC Business will leverage its legacy, identity and reputation for excellence to become further recognized as an international leader in business education while holding strong to its commitment to providing a valuable education for diverse students and alumni.
Campaign Goal
$25 million
Fundraising Priorities Student Experience: Provide innovative programs that maximize students’ potential for future success Academic Reputation: Facilitate and reward cutting-edge research and teaching innovation
Campaign Progress
42.7%
Chicago: Leverage the strengths of the Chicago business community by embedding it within the college and its mission Business Model: Secure necessary financial resources
Dean’s Business Advisory Council The Dean’s Business Advisory Council (BAC) is comprised of senior business executives with a mission to create a strong conduit to the business community and actively support the growth and success of UIC Business.
Dean’s Report
BAC members
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Donor Recognition Society Honor Roll By giving back, the generous members of the UIC Business Donor Recognition Society inspire the college to continue educating determined and talented students. It is through their support that the college can enhance its reputation of being a top-ranked, research-based business school. UIC Business is extremely grateful for the dedication of its donors. *indicates donors who are deceased Please note: Every effort has been made to ensure the accuracy of this report. If there are errors or omissions, please accept our apology and inform Jacob Sabolo, associate director of donor relations, at jsabolo@uic.edu or (312) 413-3440.
SCHOLAR CIRCLE
Recognizes donors who have established endowed scholarships Robert J. Bunting and Beverly A. Butcher Paul R. Cary Eric W. Fors MA ’54 and Marilyn D. Fors ’53 Alvin J.* and Sandy G. Grossman Alan L. Heller ’75 and Abbe D. Heller ’80 Donald J. Hermanek ’70 and Pamela J. Hermanek James W. Newman ’70 and Lynne Newman Richard J. Nowak ’70 and Yvonne M. Nowak Shirley A. Roy José Santillan ’80 Lenore J. Weiss ’84 Martin J. Weiss ’67, MS ’68 Naomi C. Weiss Ralph L. Westfall
DEAN’S CIRCLE
Donors who made an annual gift of $5,000 or more Anthony J. Augustine ’68, JD ’73 Donald E. Bielinski ’71 and Laura A. Bielinski Jeff C. Bilek ’87, HON ’88 Sidney A. Blum ’74* and Esther A. Blum ’67 James S. DiStasio ’69 and Janice DiStasio Daniel A. Fortman ’81 and Debra G. Fortman ’81 David B. Friedman ’91 and Mary T. Szela ’85, MBA ’91
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Mac Gajek ’74 and Sarah J. Gajek Alan L. Heller ’75 and Abbe D. Heller ’80 Samuel H. Jonson and Michelle M. Jonson MBA ’01 Robert A. Kilinskis ’80 and Patricia E. Kilinskis James W. Newman ’70 and Lynne Newman Richard J. Nowak ’70 and Yvonne M. Nowak José Santillan ’80 Brad Sargent ’99 and Michelle Sargent Herman Baumann III and Kay M. Schwichtenberg MBA ’84 Michael W. Urbut ’70 and Barbara L. Kirchick Urbut ’70
LEADERSHIP CIRCLE
Recognizes donors who made an annual gift of $1,000—$4,999 John E. Adams ’86 and Janice M. Adams ’86 Howard J. Adamski ’79 and Anna Adamski ’79 Todd M. Cello ’97 and Jennifer R. Cello ’97 Gary Chen ’01, MS ’03, MS ’07 Robert A. Cooke Michael L. Dembek ’07, MBA ’08 William J. Guska ’76 and Kimberly A. Guska David J. Henkes MBA ’96 and Keri L. Fair MD ’05 Daniel B. Hier MBA ’05 and Debra A. Robinson ’76, MA ’77, PhD ’80 John A. Kent ’89, MBA ’91 and Kate Kent Michael Kirschenheiter Stephen J. Kohn MBA ’15 Skip W. Landon ’88 Craig L. Levin ’70 and Carol A. Levin Art Lynn and Wendy A. Lynn MBA ’06
Dean’s Report
Donor Recognition Society Honor Roll Dean Manasses ’97 and Maria Manasses ’95 Bruce J. Mantia ’73 and Cathy A. Mantia ’76 Gregory W. McKinney ’80 and Nancy Lubich McKinney John P. Miller MS ’92, PhD ’94 Harry R. Olsen ’68 and Patricia B. Olsen Lucius C. Othman ’81 and Debra E. Othman Robert J. Ragaishis ’90, HON ’91 and Juliet Ragaishis Shirley A. Roy Scott E. Schiave ’73 and Anne Hambin Schiave Steven A. Shallcross ’83 and Mary Ann C. Shallcross Susan M. Stelter ’93 Kenneth M. Valentino ’93 David W. Vulbrock ’79, JD ’82 Lowell D. Yoder ’79, JD ’82 and Frances M. Yoder
LOYALTY CIRLCE
Recognizes donors who have made an annual gift for two or more consecutive years Mary-Lou Aagaard Kevin M. Adam ’91 and Maria Adam John E. Adams ’86 and Janice M. Adams ’86 Howard J. Adamski ’79 and Anna Adamski ’79 Anthony J. Augustine ’68, JD ’73 Rita M. Bieliauskas ’93, MPA ’13 Donald E. Bielinski ’71 and Laura A. Bielinski Jeff C. Bilek ’87, HON ’88 Sidney A. Blum ’74* and Esther A. Blum ’67 Lydia C. Bozeman Socrates Brito and Jacqueline G. Brito ’05 Eric L. Cable ’05 Hsiu-Lang Chen PhD ’97 and Pi-Ling Chiu Gary Chen ’01, MS ’03, MS ’07 Michael Y. Chin ’90 Robert A. Cooke Henry R. Cummings MS ’81 Craig M. Davis MBA ’90 and Mary Drozdzik Benét DeBerry-Spence Jaime Diaz ’07 Philip H. Dillon ’86 James S. DiStasio ’69 and Janice DiStasio
Dean’s Report
Paul F. Dittmann ’67 and Carol A. Dittmann John P. Dombrowski ’91 Steve W. Gaza and Erin E. Earnst-Gaza ’87 Brian J. Ebers ’92, MBA ’95 James M. Erickson MS ’08 and Mariliss S. Erickson John P. Farley ’71 Jeffrey S. Fleming ’77, ’82 Daniel A. Fortman ’81 and Debra G. Fortman ’81 Mac Gajek ’74 and Sarah J. Gajek James R. Gajos ’76 and Lydia A. Gajos David Gal Evgenia Golubeva Bruce R. Gotteiner ’82, MBA ’87 and Nina L. Gotteiner ’82 George A. Goyette ’70 Violetta E. Gutowska MBA ’05 Sergio Guzman ’87 Jesusa Hanyzewski Louis Harris ’67 and Linda T. Harris Thomas D. Hedstrom MS ’76 and Jeanette Hedstrom ’73 Alan L. Heller ’75 and Abbe D. Heller ’80 Louis J. and Myrna Hellerman David J. Henkes MBA ’96 and Keri L. Fair MD ’05 Robert J. Hennessy ’70 and Theresa C. Hennessy Daniel B. Hier MBA ’05 and Debra A. Robinson ’76, MA ’77, PhD ’80 Gerald E. and Stella B. Hills Arvin L. Ho MBA ’90 Elizabeth B. Hoffman MBA ’08 Gisel Infante Bianchini ’06 James R. Javoric ’87 and Barbara L. Javorcic ’86 Samuel H. Jonson and Michelle M. Jonson MBA ’01 Zhixin Kang PhD ’08 Michael J. Katsis ’75 and Justine Katsis John A. Kent ’89, MBA ’91 and Kate Kent Robert A. Kilinskis ’80 and Patricia Kilinskis Manki Kim MBA ’89 Michael Kirschenheiter Stephen J. Kohn MBA ’15 William D. Kucan ’92 Kenneth E. Kushibab ’77 and Sheryl A. Kushibab Skip W. Landon ’88 Bruce H. Lauer ’79 and Rene L. Lauer Cheryl D. Laws ’06 Norman L. Leopold ’70 and Karen S. Leopold
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Henry E. Lukee ’74 and Svetlana L. Lukee John W. Lynch and William Peek Dean Manasses ’97 and Maria Manasses ’95 Bruce J. Mantia ’73 and Cathy A. Mantia ’76 Kenneth P. Marcotte MBA ’01 and Cathleen Marcotte Jennifer E. Marsalli ’14 David G. Matthews ’77 Patrick J. Mauro ’68 and Mary E. Mauro ’67 Michael McDonald and Carolyn McDonald ’81 James W. McGalliard MBA ’84 Gregory W. McKinney ’80 and Nancy Lubich McKinney Daniel P. McMillen ’81, MBA ’82 and Mary K. McMillen ’80 Gary A. Mednick ’70 and Beth Mednick Neil R. Meyer ’98 Michael R. Michela Thomas J. Minneci MBA ’00 Roger M. Mooney MBA ’82 and Linda J. Wright Maureen P. Moore ’82 Jessica Morales Suzan M. Morno-Wade ’90 James A. Morris ’68 and Patricia A. Morris John D. Murray MBA ’86 and Joan Bjorkman-Murray Alexander Nekrasov Mark S. Novak and Maria B. Novak ’86 Richard J. Nowak ’70 and Yvonne M. Nowak Alanna O’Connor ’94, MA ’06 Harry R. Olsen ’68 and Patricia B. Olsen Lucius C. Othman ’68 and Debra E. Othman Daniel E. Owczarski ’89, MBA ’92 and Mary M. Owczarski ’85 Unsal Ozdogru Shailendra Pandit William C. Panos ’70 and Christine A. Panos ’69 Susan Perkins James S. Pierce and Nicole J. Seidlitz ’97, MS ’03 Joel B. Polakow ’74 and Pamela J. Polakow Michael T. Popowits ’81, MS ’83 Tianruo Pu MS ’96 and Shuang Lin-Pu Edward A. Rackauskas ’87 and Kendra L. Rackauskas ’86 John F. Ranos ’70 James G. Rediger ’85 Hilda S. Renteria ’86 Marc L. Rosenberg ’70 and Ellen S. Rosenberg ’71 Shirley A. Roy Norma S. Saafir MS ’80
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Mohamed M. Salahuddin ’95 José Santillan ’80 Christopher P. Sarcletti ’97, MBA ’08 Brad Sargent ’99 and Michelle Sargent Leland J. Scherkenbach ’71 and Judith W. Scherkenbach ’76 Scott E. Schiave ’73 and Anne Hambin Schiave Gary R. Schirr PhD ’08 Forrest M. Schneider ’69, MBA ’75 and Theresa H. Schneider John F. Schofield ’68 and Woodrena A. Schofield Steven A. Shallcross ’83 and Mary Ann C. Shallcross Jerry Sideman ’70 John R. Smrha ’03 Donna Stankiewicz MS ’80 Ben M. Stickan MBA ’01 and Carrie A. Stickan Yulia Svechnikova ’13 Ali Tafti and Marmar Modarressi Eric R. Taub ’81 Dina L. Taylor ’89, MBA ’98 Thomas R. Theis ’70 and Mary A. Himmes Andrey M. Tirel ’09 Michael W. Urbut ’70 and Barbara L. Kirchick Urbut ’70 Patricia B. Vardalos ’81 Heidi C. Verbiscer ’99 Rick T. Vopatek ’76 David W. Vulbrock Timothy P. Walsh ’81 Robert Warner and Tracy L. Warner ’91, MBA ’06 Walter J. Weglinski ’99 and Kendra Enso Anne Weidemanis Magi Naomi C. Weiss Frances I. Wilkins ’67 Jeffrey A. Wolf MBA ’96, MS ’96 and Shannon C. Wolf Zheng Xu MBA ’09 Lowell D. Yoder JD ’79, ’82 and Frances M. Yoder Jing Yu MBA ’00, MA ’08 Kwok-Kui Yu ’92
Dean’s Report
Community and Connections A New Normal This fall is different than those the UIC community is familiar with, but UIC’s commitment to serve and support students remains exactly the same. The COVID-19 pandemic turned everyone’s world upside down in the spring semester. Though there were many challenges, students, faculty and staff worked incredibly hard—and still are—to push forward and continue both in-person and virtual learning. The university has done a thorough job with its Circle Back to Campus plan. Find out how you can support the UIC community by clicking here for information about key areas of need, including the UIC Business Get to Graduation Fund and the U & I Care Emergency Fund, which provides temporary, shortterm financial assistance to currently enrolled students who are unable to meet essential expenses due to a temporary or unexpected hardship.
UIC Business Stands with Black Lives Matter UIC Business, in accordance with Chancellor Amiridis and the University of Illinois System, is committed to developing safe spaces for students, faculty and staff to share their experiences and create steps toward an equitable future. Click here for a recap of the latest conversation at UIC Business. From there you will also find university resources to assist with preventing and healing from the trauma of racism. On page 16 in this report you can read about outstanding UIC Business alumnus Charles Pickett ’17 and how he co-created an initiative to rehab damaged Black and Brown businesses. When the city was reeling from the effects of mass protests and looting incited by racism and police violence, he saw an opportunity to invoke change by restoring local communities. Pickett operates a non-profit organization, Earth’s Remedies, where he serves as vice president and chief business development director. Conversations and initiatives at UIC will continue. Individually and collectively, action is required from all of us.
Dean’s Report
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Stay Connected! Stay connected throughout the year by following the UIC Business Alumni Network on Facebook and LinkedIn. UIC Business alumni are leaders in hundreds of businesses and organizations around the world. Keep the connection strong by staying in touch and updating your contact information here. To catch up on everything else within the college, stay in touch by:
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Following UIC Business on Facebook, Instagram and Twitter.
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Visiting the UIC Business blog.
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To get involved, visit UIC Business alumni and community tab. There you will find the multiple different ways you can stay connected with the college. To sign up as a volunteer, please complete the UIC Business Volunteer Interest Form on the page.
Dean’s Report
Office of Advancement 601 South Morgan Street University Hall 2431, MC 075 Chicago, IL 60607 (312) 413-3440 cbalumni@uic.edu Support UIC Business
