New Mexico business leader Shannon Rainosek becomes first donor to unlock Ellis Challenge Funds

A $250,000 gift from alumna Shannon Rainosek, CEO of Frontier Restaurant, is opening new doors for business students at The James & Gail Ellis School of Business Leadership. The investment establishes the Shannon Rainosek Student Success Fund, an endowed resource that will help students pursue internships, local and national competitions, conferences, international experiences, and other opportunities that translate classroom learning into real-world success. Shannon's gift is also the first to unlock matching support from the Ellis Challenge Fund, extending the reach of her commitment to student achievement.

"These experiences are invaluable because they give students the opportunity to apply what they are learning in the classroom to real-world situations. They also help strengthen students' career opportunities. Internships, in particular, can become important pathways to full-time employment," said Shannon.

Shannon knows firsthand the power of real-world experiences. She grew up working at nearly every level of her family's business, Frontier Restaurant. Under her parents, Larry and Dorothy Rainosek, she saw the challenges and decisions business professionals face on a daily basis. This experience later encouraged her to take on more duties within the family business and pursue a bachelor's degree in business administration.

Shannon graduated in 1991 from Anderson School of Management, now the Ellis School of Business Leadership. She went on to pursue an MBA in human resources from Colorado State University and then received her juris doctorate from UNM in 1998.

The Ellis Challenge Fund is part of the recent $30 million gift UNM received in May that transformed the business school into The James & Gail Ellis School of Business Leadership. Of that gift, $5 million was structured as a matching challenge to inspire additional donations, which is exactly what motivated Shannon.

"I had intended to make a gift to the business school, but not at this initial level. When I learned about the Ellis Challenge Fund, I increased my commitment because the match would double the gift's impact, providing greater support for students and for programs that enrich their experience beyond the classroom," said Shannon.

Shannon's donation not only established a new endowment, but it will be matched and added to The James & Gail Ellis Business Leadership Fund to provide student support for generations.

Shannon and her family have supported UNM for years, while Frontier Restaurant has become a staple within the Albuquerque community. Shannon was inducted into the school's Hall of Fame in 2024 in recognition of her accomplishments and impact on the community.

Most recently, she further deepened her relationship with UNM by joining the UNM Foundation Board of Trustees and agreeing to serve as the alumni speaker for the Ellis convocation ceremony in December.

"I hope this fund encourages more businesses to offer internships and gives students more opportunities to demonstrate their skills," said Shannon. "By connecting students with New Mexico businesses, the fund can inspire them to build their careers here rather than elsewhere. Retaining strong talent will help strengthen New Mexico's business community."

Learn more about the Ellis Challenge Fund and what donations are eligible for a matched gift by contacting Melanie Hitchcock at [email protected] or Janice Ruggiero at [email protected].

About Accelerate New Mexico:

Accelerate New Mexico is a bold, comprehensive philanthropic campaign designed to advance the work of UNM students, faculty, and researchers who create a lasting impact across New Mexico and beyond. Through these stories, we highlight how philanthropic support transforms lives and fuels innovation that can shape our world. With your support, through Accelerate New Mexico, we will raise more than $1 billion to ensure prosperity for generations to come. Learn more about the campaign at https://acceleratenewmexico.org.