with non-profits
The Yale School of Management (SOM) has received a grant of $1.5 million dollars from The Goldman Sachs Foundation.
The grant will help fund "The Yale School of Management-The Goldman Sachs Foundation Partnership on Nonprofit Ventures," an initiative established in 2002 to educate leaders of non-profit organizations about non-profit enterprise. This is The Goldman Sachs Foundation's second grant to the program. The first, a $1.5 million contribution in 2002, helped launch the partnership, which also receives support from The Pew Charitable Trusts.
The new grant from The Goldman Sachs Foundation will be used to continue the partnership's mission of fostering business growth among non-profit organizations. Specifically, the funding will be used to:
* implement the 2003-2004 and 2004-2005 National Business Plan Competition for Non-profit Organizations, the partnership's signature program to assist non-profit organizations in the development of promising profit-making ventures;
* provide guidance and resources for the partnership's member non-profit organizations, which include conferences, classes and access to an online information center; and
* conduct research projects in social entrepreneurship.
Stephanie Bell-Rose, president of The Goldman Sachs Foundation, said, "This innovative partnership has a solid track record of injecting the highest quality financial and management techniques into the non-profit sector and is founded on our belief that entrepreneurship education is an effective tool for transforming society and teaching leadership and self-sufficiency."
SOM professor Sharon M. Oster and Deputy Dean Stanley J. Garstka, co-faculty directors of the Partnership on Nonprofit Ventures, in a joint statement, said: "At a time when charitable organizations have experienced cut-backs on grant-giving, this generous contribution speaks to the importance of the partnership's work in assisting non-profit organizations."
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