The Chicago Family Business Council will begin operating under the umbrella of DePaul University’s College of Commerce starting March 1, bringing its myriad programs and services to DePaul students, alumni and the local business community in the heart of the city’s Loop.

CFBC helps family-owned and closely held businesses achieve their goals through peer support and educational programs. At DePaul, CFBC will work with the College of Commerce, especially the Coleman Entrepreneurship Center, to provide educational programs for students and local businesses.

“Working with the Chicago Family Business Council, the College of Commerce’s Coleman Entrepreneurship Center will be able to increase its impact on the entrepreneur community and enhance our students’ exposure to successful entrepreneurs,” said Ray Whittington, dean of the College of Commerce. “Our alumni will receive discounts on CFBC educational programs, and there will be opportunities for our students to attend the programs free of charge. The synergies between our Coleman Center, our highly ranked entrepreneurship programs and the CFBC make this a very good arrangement for the College of Commerce and the council.”

CFBC is comprised of 85 companies and more than 135 individuals who operate in construction, printing, accounting, retail, metal fabrication, floor coverings, chemicals manufacturing and other markets. Together, members address common challenges faced by every family-owned and closely held business, regardless of the product or service it offers.

“In this age of global competition, it is critical that our local companies have the resources and experience to develop leaders to grow their businesses,” said Brian McIlwee, president of CFBC. “As a private university, DePaul offers us the opportunity to work in an environment unencumbered by state legislative mandates. Our new home at DePaul will allow us to significantly enhance our ability to serve CEOs of entrepreneurial closely held companies and family businesses alike, while we engage DePaul’s students with our members and programs. This is truly a winning opportunity for both DePaul and the Chicago Family Business Council.”

Under an affiliation agreement with DePaul, CFBC will operate as a separate entity and have its own board and operations. CFBC was formed in November 2011 at the recommendation of the group’s board and the approval of its 135 members. Previously, the council was a nonprofit, self-sustaining fund within the University of Illinois at Chicago’s College of Business Administration. The council’s desire to become independent, yet remain affiliated with a major university program, spurred its change in structure and move to DePaul.

"The most important point I wish to stress is that we are not attempting to change the core of CFBC,” McIlwee said. “Our mission, vision, values, programs, sponsors, officers, forums and protocols are not changing. Additionally, there are wonderful relationships and a considerable heritage that we have developed over the years at UIC. We will regret leaving them, but wish to continue to maintain those relationships in the future.”

About Chicago Family Business Council

Chicago Family Business Council was founded in the belief that family businesses offer a challenging and fulfilling way to create a legacy for oneself and society. The CFBC offers business leaders of all backgrounds and interests an opportunity to share experiences and proven best practices. For more information, visit www.chicagofbc.com.

About DePaul’s College of Commerce

Offering a highly respected, practical, flexible program of business study, DePaul’s College of Commerce enrolls 4,249 undergraduate students, and the Kellstadt Graduate School of Business has 2,115 students. DePaul’s undergraduate business program offers a wide range of majors in accountancy and real estate, including top programs in finance, management, marketing, economics, hospitality leadership, entrepreneurship and sales leadership. Graduates benefit from the College of Commerce’s 50,000-strong alumni network. For more information about the College of Commerce, visit commerce.depaul.edu. For admission questions, call (312) 362-8300 or
email admission@depaul.edu.

About DePaul

With more than 25,000 students, DePaul University is the largest Catholic university in the United States and the largest private, nonprofit university in the Midwest. The university offers approximately 275 graduate and undergraduate programs of study on three Chicago and three suburban campuses. Founded in 1898, DePaul remains committed to providing a quality education through personal attention to students from a wide range of backgrounds. For more information, visit www.depaul.edu.