Andrew (left), Elena and Robert McDonough enjoy an evening on the Oxford Square. Robert McDonough has made a $300,000 unrestricted gift to the University of Mississippi School of Business Administration, where both Andrew and Elena are enrolled. Submitted photo
Parent, business executive provides endowment for UM School of Business Administration
Robert McDonough believes his son Andrew is being well prepared as a future business leader by the University of Mississippi School of Business Administration. He’s also excited that daughter Elena is beginning a business degree this fall.
And after hearing from administrators that one of the school’s goals is to develop leaders, the Palm Beach Gardens, Florida, resident was inspired to make a $300,000 unrestricted gift to the school.
“I’ve spent a large portion of my career in corporate America, including time at several large public companies,” he said. “One thing that great companies have in common is great leaders. The idea that the objective of the Ole Miss business school is to build leaders resonated with me.”
McDonough said he was further impressed that the school promotes business integrity, stresses the importance of ethics and offers students a breadth of career paths.
“Early in students’ academic careers, they can sample different disciplines to find out what fits the best,” he said.
Annual income from the McDonough Family Endowment will be used to address the greatest needs of the School of Business Administration. The gift is part of the Now & Ever campaign to secure $1.5 billion for the university’s endowment.
“We are extremely grateful for Bob McDonough’s transformative support, which will give us greater flexibility in responding to opportunities and advance our mission to produce exceptionally prepared business leaders who will become strong innovators, contributors and ambassadors,” said Ken Cyree, the school’s dean and Frank R. Day/Mississippi Bankers Association Chair of Banking.
Robert McDonough accompanied Andrew McDonough on a college visit to Ole Miss 10 years after he brought one of his older sons for a tour.
“I was astounded by the amount of investment the university has made; the class sizes had grown and the national reputation had increased,” the donor said. “My son and I fell in love with the feel of the school and the town of Oxford.”
During his time at Ole Miss, Andrew has experienced academic success, making either the Chancellor’s or Dean’s list every semester, Robert McDonough said.
“The attributes I see Andrew developing and the growth in him as a young man and an academic made me want to be able to offer my support to the school – to be part of that journey with him,” he said. “I can see something is being built at Ole Miss that feels very, very special.”
Drawn to the Southern lifestyle and values, Elena McDonough wanted to attend an SEC school, her dad said.
“Going away from home for the first time, Elena wanted to be somewhere that felt like a good cultural fit and where she would feel safe and welcome,” he said. “Ole Miss is where I see my kids fitting into what feels like a really positive atmosphere. I have no doubt they will build foundations for a successful future.”
Besides Andrew and Elena, the family includes four other children: Thomas, 29, Patrick, 27, Sofia, 12, and Isabel, 10.
Robert McDonough is the retired president of Carrier, then a division of United Technologies Corp. He was with Carrier for 13 years in a series of progressively more responsible positions.
Before joining UTC, McDonough spent 16 years with Lennox International, where he was president and COO of Worldwide Heating & Cooling as well as executive vice president of Lennox International.
To make a gift to the McDonough Family Endowment for the School of Business Administration, send a check, with the fund’s name noted on the memo line, to the University of Mississippi Foundation, 406 University Ave., Oxford, MS 38655, or give online here.
By Tina H. Hahn
