This study explored a new mentoring and advocacy-networking paradigm sponsored by the National Science Foundation (14-7680) under the NSF call by the Office for Broadening Participation in Engineering. The Increasing Minority Presence within Academia through Continuous Training (IMPACT) program pairs underrepresented minority (URM) faculty with emeriti faculty in engineering for career mentorship. A phenomenological qualitative research design was utilized to explore the influence of the three domains of the mentoring and advocacy-networking paradigm (career development, sponsorship, and coaching) through participant interviews of URM and emeriti faculty. Interviews, grounded by Social Cognitive Career Theory, offered an in-depth understanding of the nature, meaning, and ways in which the IMPACT participants anticipated the value of the mentoring experience. Phenomenological findings suggest mentees view IMPACT participation as a means for career progression, and mentors see it as an opportunity to "give back" to the engineering field. Neither believed cultural or generational gaps would hamper their mentoring relationships, as their shared academic interests would provide a bridge for any gaps. Evidence at this early stage indicates the IMPACT program has the potential to contribute to the career development of URM faculty and engagement of emeriti faculty in the engineering professoriate.