NEW YORK, NY?(BUSINESS WIRE)?Morgan Stanley (NYSE:MS ? News) announced that the nonprofits Women?s?Initiative for Self Employment, Feeding America and Episcopal Social?Services received cash grants to implement pro bono strategic advice?provided by Morgan Stanley professionals at the Third Annual Morgan?Stanley Strategy Challenge.
This year, the Strategy Challenge paired teams of outstanding Morgan
Stanley professionals with 15 nonprofit organizations across the country
for eight weeks to provide pro bono strategic advice on issues related
to business model optimization, geographic and program expansion, and
new ventures. All together, the Morgan Stanley teams donated more than
6,500 hours of high-impact analysis and advice ? equivalent to a market
value of approximately $1 million based on pro bono standards developed
by the Pro Bono Action Tank, which estimates how nonprofits should value
in-kind contributions. This figure does not capture the additional value
that the actual recommendations and strategies have brought to the
nonprofits in areas such as productivity improvements, new revenue
streams and more efficient business models. Over the past three years,
the Strategy Challenge has cumulatively delivered approximately 14,500
hours to 36 nonprofits.
The teams presented their final recommendations in a competition at
Morgan Stanley?s New York headquarters on June 15. The nonprofits
associated with the top three teams ? Women?s Initiative for Self
Employment, Feeding America and Episcopal Social Services ? were
presented cash grants of $25,000, $15,000 and $10,000, respectively, by
Morgan Stanley President and CEO James Gorman.
?The Morgan Stanley Strategy Challenge takes our firm?s key asset ? our
talented professionals ? and shares them with organizations that could
use?the?added?resources to tackle critical strategic issues,? said James
Gorman, President and CEO of Morgan Stanley. ?Our teams have put in
thousands of hours of work, and we hope that their recommendations will
help the nonprofits amplify their impact within their communities.
Giving back is part of what Morgan Stanley stands for.?
The first-place team?worked with Women?s Initiative?to?determine how the
organization could best prepare itself for its desire to expand. The
team provided the organization with key financial and organizational
benchmarks it needs to achieve to prepare itself for growth beyond the
San Francisco Bay area.
?Taking businesses to scale is exciting ? but potentially dangerous ? so
having Morgan Stanley experts providing us with the triggers and the
safe pathway to achieve that scale was invaluable, and will lead to
thousands of women finding economic security as well as job creation
when our country needs it the most,? said Julie Castro Abrams, CEO of
Women?s Initiative.
Janet Gibbs, Chief Financial Officer of Feeding America said, ?We were
thrilled and honored to be among the selected charities that benefitted
from the Morgan Stanley Strategy Challenge. The collaborative business
model that the Morgan Stanley team developed will allow us to harness
the power of the network to achieve significant cost savings ? in order
to feed more people, in more places, throughout America.?
Elizabeth McCarthy, Executive Director, Episcopal Social Services,
commented, ?The Morgan Stanley team we worked with really embraced our
programs and the children we serve, and helped us to quantify the
success of our early childhood education programs. They also helped us
establish a diversified funding model that will enable us to continue to
serve low-income children in New York City despite significant cuts to
public subsidies. We are so grateful for the continued partnership of
Morgan Stanley.?
This year, the Strategy Challenge expanded to include nonprofits from
San Francisco and Chicago, as well as New York City (see below). The
organizations? missions address issues ranging from childhood nutrition
and job training, to educational advancement and wildlife conservation ?
among others. They were selected from among hundreds of nonprofit
partners of the Firm through a rigorous selection process.
The Strategy Challenge is jointly sponsored by Morgan Stanley?s Global
Sustainable Finance Group and Morgan Stanley Community Affairs Office.
?Morgan Stanley is committed to contributing its business and financial
expertise to help non-profits develop the long-term sustainable business
models they need for enduring success,? said Audrey Choi, Head of Global
Sustainable Finance at Morgan Stanley
Added Joan Steinberg, Global Head of Community Affairs at Morgan
Stanley: ?The issue of scalability can be difficult for charities to
manage. Since the Strategy Challenge was launched two years ago,
nonprofits continue to tell us our professionals? pro bono advice is
helping them to grow and achieve their strategic objectives.?
Participating Nonprofits
- Episcopal Social Services
- Feeding America
- Green Chimneys
- Hispanic Scholarship Fund
- Lesbian, Gay, Bisexual Transgender Community Center
- Olana Partnership
- Only Make Believe
- Reach the World
- Sponsors for Educational Opportunity
- Sustainable South Bronx
- Upwardly Global
- VOICES of September 11
- Wildcat
- Wildlife Conservation Society
- Women?s Initiative
Morgan Stanley is a leading global financial services firm providing a
wide range of investment banking, securities, investment management and
wealth management services. The Firm?s employees serve clients worldwide
including corporations, governments, institutions and individuals from
more than 1,300 offices in 42 countries. For further information about
Morgan Stanley, please visit www.morganstanley.com.
Article source: http://biz.yahoo.com/bw/110617/20110617005965.html?.v=1
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