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September 12, 2012

Northeastern U. Gets Record $60-Million Gift for Business School

Two Massachusetts businessmen who dropped out of Northeastern University but later went back and earned degrees have donated $30-million each to the Boston institution's business school, The Boston Globe writes.

The business school will be renamed for the two donors and university trustees, Richard D'Amore and Alan McKim, in recognition of the joint gift, the largest in Northeastern's history. The donation will support programs for faculty recruitment, financial aid, cooperative education, and initiatives to help the school produce more entrepreneurs.

Both donors dropped out as undergraduates but credit the mentoring of a Northeastern business professor, Daniel McCarthy, with helping them complete their education. Mr. D'Amore completed a business degree in 1976 and is one of the founders of the venture-capital firm North Bridge; Mr. McKim received an M.B.A. in 1988 and now heads Clean Harbors, a provider of environmental and industrial services.

The two businessmen met in 2004 when they teamed up to endow a professorship for Mr. McCarthy.