UVA Darden Expands Board Fellows Program, Joining Elite Golub Capital Network

Madelyn Merchant (MBA ’25), a proud USC alumna, didn’t expect a casual dig at a UCLA sweatshirt in a Trader Joe’s checkout line to change her legacy at the University of Virginia Darden School of Business. But that chance encounter with Rob Weiler — president of the Darden School Foundation and a fellow West Coast transplant — turned into a pivotal moment for a program she was determined to elevate.

At the time, Merchant was vice president of Darden’s student-run Board Fellows Program, which matches students to serve as non-voting members of local nonprofit boards, offering hands-on experience in governance and civic leadership. In that role, she helped organize events, build nonprofit relationships and recruit student participants — all while serving as a fellow herself on the board of the Core Knowledge Foundation, an education nonprofit based in Charlottesville.

Madelyn Merchant (MBA ’25), former vice president of the Board Fellows Program, helped lead Darden’s successful proposal to join the Golub Capital Nonprofit Board Fellows Network.

But long before she arrived at Darden, Merchant had her eye on the program.

“When I was applying to business school, I found Board Fellows online and thought, ‘That’s something I definitely want to do,’” she said. “But when I got to Darden and asked how to join, people said, ‘What’s Board Fellows?’ I was so upset. I knew the program existed, but it was tucked away and not visible. I took every opportunity I could to change that.”

A fortuitous conversation with Weiler — part introduction, part pitch — helped spark broader interest in transforming what had been a low-profile student initiative into something more lasting.

From Club to Cornerstone

That spark ignited a sustained push among students, faculty and administrators to reimagine the program’s potential. Merchant became the driving force behind Darden’s successful proposal to join the Golub Capital Nonprofit Board Fellows Network — drafting the application, rallying alumni support, and working with faculty and administrators, including faculty advisor Professor Yo-Jud Cheng, to reimagine the program as a signature Darden experience. Golub Capital is a market-leading direct lender and private credit manager with a strong philanthropic focus on nonprofit board development.

Announced today, the newly expanded program — now a member of the national Golub Capital network — will offer academic credit, dedicated faculty, nonprofit leaders-in-residence and a full-time program manager. It will also scale across the Darden Grounds in Charlottesville and Rosslyn, integrating Full-Time, Executive and Part-Time MBA students into a unified, high-impact initiative.

Expanding Reach and Impact

Over the past three years, more than 80 students have served as board fellows, supporting local nonprofits through strategic projects in areas such as financial planning, marketing and organizational development. With new funding and institutional support, the program is poised for dramatic growth — with over 100 fellows annually and expanded placements in Washington, D.C. The incoming 2025-2026 cohort comprises 30 board fellows, selected from a competitive pool of 92 applicants.

The Board Fellows Program will expand to the UVA Darden Sands Family Grounds in Rosslyn, Virginia, integrating Executive and Part-Time MBA students.

The revamped program includes a yearlong academic component through which students can earn three credits for their work as board fellows. Professors Paul Matherne and Toni Irving will lead coursework. The program will culminate in a public showcase of strategic projects.

Philanthropy Behind the Scenes

The transformation was made possible by financial gift from Golub Capital and a successful match campaign led by the Darden School Foundation. Key to that match was a gift from John D. Fowler Jr. (MBA/JD ’84), incoming chair of the Darden School Foundation Board of Trustees, and his wife, Corey P. Fowler. The School also contributed in-kind resources such as faculty time and administrative support.

Institutionalizing a New Model

The program will now be housed within the Institute for Business in Society (IBIS), with nonprofit leaders-in-residence in both Charlottesville and Rosslyn serving as mentors. IBIS will also host an annual nonprofit leadership conference, further strengthening community ties.

Named fellowships are in development, offering donors a way to align their philanthropy with personal passions — whether in animal welfare, education, healthcare or the arts — by sponsoring student board placements with specific nonprofit partners.

Looking Ahead

Merchant sees the program’s institutionalization as both a personal win and a collective opportunity for Darden.

“This program has incredible potential to be a core part of the Darden experience,” she said. “Given how closely it aligns with our mission, it’s just such a no-brainer. Our skill sets can do so much good — it would be wasted potential not to invest in that.”

Darden now joins the ranks of other top business schools in the Golub Capital Nonprofit Board Fellows Network, including Michigan Ross, UT Austin McCombs, UCLA Anderson, NYU Stern, Berkeley Haas, Chicago Booth, Kellogg, Wharton, Tepper and Yale SOM.

Get Involved

To learn more about supporting the Golub Capital Board Fellows Program at Darden — or to explore opportunities to sponsor a named fellowship aligned with your philanthropic priorities — contact Samantha Hartog, senior associate vice president of advancement, at HartogS@darden.virginia.edu.