Mike Shumate practiced law in Indianapolis for ten years, after graduating from the University of Virginia Law School. While in Indianapolis, he was president of the IU Alumni Club and chaired the Human Rights Commission of Marion County. Governor Otis Bowen awarded him Sagamore of the Wabash for his tireless community service and advocacy.

In 1980, Shumate joined the international law firm of Jones Day, where he practiced corporate tax law in the firm's Los Angeles and New York offices and served on the firm-wide management committee. He is also a CPA, and a member of the Indiana CPA Society(inactive) and member (inactive) of the Indiana, California and New York State Bars. He retired in 1996 and has since lived in Los Angeles, although his ties to the area have remained strong. He is in Bloomington often. “Home is home,” Mike says.

Since retirement, he has served IU in a number of capacities. He is a member of the IU Foundation Board of Directors, where he chairs the Audit Committee and is a member of its Executive, Legal and Ethics Committees. He is a member of the Presidents Circle, a group of individuals who help support the university’s mission. He is a member of the Kelley Dean’s Council and the Herron School of Art Dean’s Council. He also has served on Kelley’s Accounting Department Advisory Board since 2001. He served on the Board of Governors of The Kinsey Institute from 2001 to 2007. He is a founding member of the Women’s Philanthropy Council. He is also the President of the IU GLBTAA and Vice President of the Maurer LGBT Alumni Board. He led the successful class of 1967 campaign to endow the Robert Shaffer Chair in the College of Arts and Sciences.

At IU, Mike was president of his class. He received the Elvis Stahr Award and the Rawles Key Award (presented to the Kelley School of Business senior in the top 1% of his or her class with the most distinguished record). He was vice president of his fraternity, Sigma Chi.