For the last 15 years, Columbia MBA students have made it possible for social enterprise organizations – local non-profits, overseas NGOs, government bodies and performing arts groups – to benefit from the brainpower of Columbia MBAs. It all happens through the CORPS Fellowships, which has been growing steadily alongside the Social Enterprise Program at Columbia Business School. The terms are simple: the recipients, who are selected in a rigorous application process, receive a weekly salary of $1,200. Their organization must provide at least $600, and the fellowship covers the rest. The existence of the CORPS is a source of pride for the School, and yet another chance for clusters to test their competitive partying skills at the St. Patrick's Day Happy Hour, this year on March 15. Last year, Clusters A '07 and F '07 dominated by donating $7,858 and $7,125 respectively. The idea, basically, is to give a little (or a lot), so that the CORPS fellows can give lots more. Last year's CORPS fellows spent their summers doing everything from assisting farming cooperatives in Central America to bringing private investors into Afghanistan. If you need a little inspiration, check out some of their stories below:
Juan Urrutia '07 and Sandy Eapen '07 were two of three CBS first-years who were lucky and talented enough to join the United Nations Development Program's Growing Sustainable Business Initiative. Juan, in Montevideo, developed a business plan for the Uruguay branch of the microfinance pioneers Grameen Bank, while Sandy, in New Delhi, helped utilize wasteland in a poor district in India to plant jatropha, a hedge-like plant that can be converted into biodiesel. Despite almost being trampled by a herd of cows, Sandy loved meeting local farmers and officials. "Thank you to all my second year friends who donated!" Sandy said. "Without your support, I would not have been able to pursue this amazing opportunity."
Marti Lilien '07 worked for Environmental Defense, a New York-based non-profit, finding potential partnerships in the commercial shipping industry to improve air quality emissions, especially in the absence of local regulations. She evaluated financial incentives for shipping lines to adopt cleaner technologies, since marine vessels typically rely on diesel engines.
"The CORPS fellowship taught me that, as much as I really want to do non-profit work in the future, I need structure and a traditional MBA job right after graduation to further my professional development, so that I can go back into non-profit work later," Marti said.
Sybil Dodge '07 landed a position in Washington, D.C., with the capital markets group of the Inter-American Development Bank. It was her "dream internship – something I had been working towards for years and couldn't have done without CORPS." Sybil helped provide credit enhancements for transactions that developed capital markets in Latin America.
"We helped execute the first residential mortgage-backed securitization in a medium-sized Latin American country," Sybil said. "This helped bring a new domestic security with a long maturity to the market, which was in high demand from local pension funds. This new security would also help bring down the cost of mortgages and help stimulate the housing market."
What would she say to current students considering applying to CORPS? "Do it! This is the only time in your life you will be able to take the time to try something like this out, no strings attached." And to a current student considering donating to the fellowship program? "It's the perfect way to satisfy your inner do-gooder, without hard work."
Emily Robertson Vestal '07 interned with the New York Philharmonic's marketing department, pursuing her existing interest and experience in the orchestra business. Without the CORPS fellowship, "I would have had to take out additional loans to even pay my rent," she said. And the fellowship principally benefits the non-profit organization, she said: "Every extra day the fellows contribute can make a huge difference."
Rachel Albert '07 worked for the New York City chapter of the National Alzheimer's Association, researching nursing homes and assisted living facilities. The coolest part of the summer was her participation in the Public Policy forum in Washington, D.C., where she learned that a breakthrough cure for Alzheimer's disease could be five to 10 years away, if research funding is brought back up to pre-Bush levels (and where she and her coworkers met politicians like Hillary Clinton). The fellowship "is a great opportunity to pursue a project outside the mainstream, learn something new, make a positive contribution to an important sector, and still get paid a reasonable salary for the summer," Rachel said.
Laura Clancy '07 joined two CBS alums for the summer at the Community Resource Exchange, the largest consulting firm for nonprofits in New York City, and handled grassroots engagements with groups like WNYC, the NPR radio station, and the Red Hook Health Initiative in Brooklyn.
"Consulting to a broad array of nonprofits, some of which were pretty tiny, was totally new to me, and there's no way I could have had the experience without the fellowship," Laura said. "The CORPS challenged my thinking about ‘where change happens' in the nonprofit world." And donors are making a difference too, she said. "You're making MBA-caliber talent available to, and affordable for, many of the greatest nonprofits in the city and across the world."
Debra Kurshan '07 was an Education Pioneer Fellow at the Village Academy Charter School Network in Harlem, in charge of setting up a new facility for 200 students. "The day before the teachers were coming back, I was crawling on the floor trying to figure out how to get 14 desks and computers to fit in a room that was 20' by 20', and ensure that they all had internet connections," Debra said. "I learned a lot about how to build relationships – the janitor was the most important person in the building to have as an ally." What would she say to current students learning about the program? "The diversity of interests of students at Columbia is what makes the community great," she said, "and by donating you can help to support that diversity."
Caroline Macdonald '07 designed financial incentives at the New York City Economic Development Corporation to keep businesses in the city. She authorized $5 million dollars in tax benefits that allowed a lumber company to stay in Williamsburg, which has become so expensive that companies are moving to New Jersey, and taking all the jobs with them, and sat in as Mayor Bloomberg worked his trading floor-style "bullpen" at City Hall. "One of the reasons I applied to business school was to be able to work for an organization like the EDC," she said. "It was a great introduction to the real estate industry."
Yvonne Lu '07 consulted for nonprofits at the Robin Hood Foundation's Strategy Group in New York, and managed a project for a Brooklyn-based social service agency that wanted to serve a new population segment. "The high level of impact the project delivered was very rewarding, and was something that I really felt was lacking when I consulted to large corporations as a management consultant," Yvonne said, pointing out that she's still in touch with the client. As a result of the fellowship, "I know for sure that I want to work in the public sector as a long-term career goal," she said.