Ideas with Impact
UNB Faculty of Management

An innovative collaboration between two UNB faculty of management alumni is reshaping how students learn financial modelling and entrepreneurial decision-making.

Thanks to the generosity of Duncan MacDonald (BBA ’68) and the entrepreneurial leadership of Raymond Fitzpatrick (BBA ’09), UNB is now the first university to adopt Profitual, a modern financial modelling platform already used by more than 600 start-ups across Canada and the United States.

Bringing industry tools into the classroom

For many years, students learned financial forecasting using Excel templates that, while effective for teaching fundamentals, could be challenging to troubleshoot and difficult to use beyond the classroom. Profitual offers a more modern approach.

The platform helps users build and understand financial models while clearly showing the impact of business decisions. By using a tool that is quickly becoming an industry standard, students gain practical, transferable skills that better prepare them for life after graduation, whether they launch their own venture or join an existing organization.

The faculty of management is integrating Profitual into classroom learning and a faculty research project led by Dr. David Foord, supporting both teaching innovation and applied research.

Alumni support with a long-term vision

This initiative is made possible through a donation from Duncan MacDonald, CA, and a longtime supporter of experiential learning in the faculty of management and champion of venture capital education at UNB.

MacDonald said his support for this was inspired by his many years as a CA, CPA and as an entrepreneur and controller of various companies. “I would suggest that no company should be moving forward without adding Profitual’s financial modelling capability if they plan to grow.”

This is not the first time MacDonald has supported innovative learning in the faculty of management. He has been an active supporter of the Fraser Student Venture Fund and has established a scholarship for outstanding student venture analysts.

Giving back where it began

Profitual was founded by Raymond Fitzpatrick, a UNB alumnus with a background in venture capital. The platform is widely used by accelerator programs in Canada and the U.S., and in 2025, students connected to the Fraser Student Venture Fund recommended an investment in the company.

Profitual is now available to UNB students, faculty, and staff (via UNB’s International Business and Entrepreneurship Centre - IBEC), strengthening financial literacy and entrepreneurial learning across campus. Together, these alumni contributions demonstrate the powerful impact of innovation, philanthropy, and a shared commitment to student success.

If you’re a UNB student, faculty or staff member interested in learning more about Profitual, contact the International Business and Entrepreneurship Centre at IBEC@unb.ca.

Learn more about UNB’s faculty of management and International Business and Entrepreneurship Centre.