Graduate, family create endowment to invest in future students

 

 

An alumnus and longtime university trustee has pledged $5 million to support financial aid for Northeastern students. Henry Nasella ’77 and his wife, Michele, of Cambridge will create the Nasella Family Endowment Fund.

“My education really created a wonderful opportunity for me, for my future success and my family,” said Nasella, now a partner in a New York private equity firm. “If you give young men and women the tools so they can be successful and compete in the future, that’s among the most important gifts you can provide.”

Northeastern President Joseph E. Aoun pointed to Nasella’s professional accomplishments as a prime example of the benefits of co-op and experiential education.  “Henry exemplifies the university’s spirit and commitment to success,” said Aoun. “His personal story is one our students should know and emulate, and his gift, focused as it is on making Northeastern even more accessible to all students, is a remarkable example of generosity and leadership.”

Nasella’s professional accomplishments are indeed impressive. A Massachusetts native, he entered the College of Business Administration in 1965, but had to leave school to help his ailing father with the family dry-cleaning business. He later began working for Star Market full-time and returned to University College (now called the School of Professional and Continuing Studies) to complete a bachelor’s degree in accounting.

He became a vice president of Star’s parent company, Jewel, and then president of Star Markets. In 1988, he left to become president of a four-store chain of office-supply retailers — and built Staples into a billion-dollar public company by 1993.

In 1994 he led a management buy-out of Star and became its CEO, selling it in 1999.

Now cofounder and general partner of LNK Partners, a New York-based private equity firm, Nasella now serves as lead director of Phillips-Van Heusen and has served as a board member of such companies as Denny’s, Blinds-to-Go, Au Bon Pain, Panera Bread, Goody’s Family Clothing, Ariat International and Spyder Active Sports.

He was named an Outstanding Alumnus in 1999. He has served on the Northeastern University Board of Trustees since 1995, chairing its Development Committee, and is a founding member of the Huntington Society and a member of the board of visitors at the College of Business Administration.

As a trustee and committee chair, Nasella said, “I am fully aware of the need for alumni and friends — and particularly governing board members — to support the university with their time and treasure.”

He said President Joseph Aoun began talking to him about “making a leadership gift,” making both a financial and a high-profile symbolic commitment.

“I'm hoping that our gift along with other people's gifts speak loud and clear to how successfully an investment in Northeastern can be leveraged,” he said. “We hope our family’s gift will encourage other people to extend themselves in support of Northeastern and its students and faculty, and realize the terrific return on investment their gifts will create.”

His family chose to target financial aid, Nasella said, because “it’s very much in need for the kind of student Northeastern attracts — often people who don’t come from a wealthy family.

“I was a first-generation college graduate,” he said. “It was only because of co-op and because of the support of my family, and working multiple jobs through college, that I was able to complete my degree. Given the cost of an education today, we need to find ways to support students in the future.

“There are many priorities for funding,” he said, and “President Aoun understands very well the importance of investing in our students’ future success.” Nasella said Northeastern is “beautifully positioned. We have a great university. We provide an outstanding education. This (gift) is all about providing continued access to a Northeastern University education.”