When the phrase “Northern Illinois University” is uttered, most think of an educational facility.

NIU, however, is much more than just a learning center & it’s a business.

Kathe Shinham, associate vice president of finance and facilities, said the university’s primary lines of business fall under instruction, research and public service. About $300 million comes through the university each year.

“Our objective is to cover costs, but we don’t have a profit motive,” Shinham said.

Judd Baker, the Holmes Student Center director, manages the food service operation, games area, hotel and bookstore. He said his job is to keep prices as low as he can for the students.

“The bookstore is the anchor of the Holmes Student Center,” Baker said. “If the bookstore does well, that will offset some costs so we won’t have to ask students for as much of a student fee.”

Baker said he started off in the commercial field where profit is everything. He then went to work for Purdue University’s student union and found out that money isn’t everything.

“The mission in the Holmes Student Center is that this is for the students,” he said. “It’s more of a service aspect than the almighty dollar.”

The Huskie Den is used almost 100 percent by students, so it’s important to hold down those prices as much as possible, Baker said.

“Most directors of student unions come into the job and their first order of business is to redecorate their office,” Baker said. “I always thought that was so silly because you shouldn’t spend your money on that. We’ve remodeled the Diversions Lounge and re-done the Huskie Den. Those are the nicest areas you’ll ever find throughout all of the universities in Illinois or the Big 10.”

“We’re very complex,” Shinham said. “That’s a lot of money going in many directions.”

NIU doesn’t take part in the stock market, but it does invest in U.S. Treasury Securities, government agency obligations and short-term commercial paper, Shinham said.

“We can only invest in short-term paper so we’re not exposing ourselves to a market risk,” she said.

When renovating buildings such as Stevenson Towers, the child care center or Center for Latino Studies, NIU issues bonds to the public.

“We refinanced our bonds, saving $157,000 each year,” Shinham said. “That’s a savings of $4.4 million for students through 2029.”