Longtime VADA member and automotive entrepreneur Jim Koons has pledged up to $30 million to Northwood University, marking the largest philanthropic commitment in the Michigan university’s history.
Koons, a 1973 Northwood graduate and former CEO of Jim Koons Automotive Companies, built one of the nation’s largest privately owned dealership groups from its roots in Northern Virginia.
His commitment to Northwood includes $20 million in direct philanthropic investment and another $10 million in challenge funding tied to undergraduate enrollment growth and future fundraising milestones. The funding will support student housing, automotive education, scholarships and other university initiatives.
Entrepreneurship and capitalism still provide the greatest opportunity to improve people’s lives.
“This gift reflects my gratitude for my Northwood education and belief that Northwood is uniquely positioned to develop free enterprise leaders who understand the positive impact this economic system has on our country and the entire world,” Koons said in announcing the commitment.
A Virginia dealership legacy
Koons has deep roots in Virginia’s franchised dealer community.
His father, John Koons, opened the family’s first dealership in Falls Church in 1964. Jim later took control of the business and expanded it into a major Mid-Atlantic dealership organization. By 2023, Jim Koons Automotive included 20 dealerships representing 29 franchises across Virginia, Maryland, and Delaware and employed more than 2,500 people.
Koons and his dealerships were longtime members of the Virginia Automobile Dealers Association. Stores included Koons dealerships in Arlington, Falls Church, Sterling, Tysons Corner, and Woodbridge, and the Koons team was heavily involved in VADA initiatives.
Koons was regularly named to the Virginia Business Power List 500. The publication often noted his long history of philanthropy.
Later that year, Koons sold Jim Koons Automotive Companies to Asbury Automotive Group in a $1.2 billion transaction, one of the largest dealership acquisitions in automotive retail history. At the time, the Koons organization had generated approximately $3 billion in annual revenue.
Investing in the next generation
Koons’ latest commitment builds on years of support for Northwood. He has remained closely involved with the university since earning his bachelor’s degree in business management there in 1973, including serving as commencement speaker in 2011 and receiving an honorary doctorate.
The gift also reflects a natural connection between Koons’ career and his alma mater. Northwood bills itself as “America’s Free Enterprise University,” with a mission centered on developing free-enterprise leaders. The university also has deep ties to the retail automotive industry, offering specialized automotive and mobility programs that include dealership operations and hands-on dealership simulations, along with its Center for Automotive & Mobility Studies. For generations of students who have gone on to careers as dealers and automotive executives, Northwood has served as a direct pipeline into the industry.
- $10 million to transform two residence halls into a first-year living and learning community
- $5 million toward a new academic hall and conference facility
- $5 million for student scholarships through a fundraising challenge
- Up to $10 million in additional challenge funding tied to enrollment growth and fundraising goals
Northwood President Kent MacDonald said the gift reflects Koons’ belief in free enterprise and his experience building a successful business through entrepreneurship.
Jim’s landmark gift reflects his conviction in free enterprise and his firsthand understanding of its power to create opportunity and transform lives.
The university announced the commitment Sept. 18 during the 2026 Center for Automotive & Mobility Studies Industry Summit, where Koons delivered a keynote address ahead of Northwood’s 63rd International Auto Show.
Read Northwood University’s announcement