Morgan Stanley Provides Pro Bono Advice to 15 Nonprofit Organizations Across the U.S. on Critical Business Strategy Issues
Morgan Stanley Employees Advise Nonprofits at 3rd Annual Morgan Stanley Strategy Challenge – a Signature, Skills-Based Volunteering Initiative that Expands Across the U.S. This Year
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Morgan Stanley (NYSE: MS) announced that on June 15 it will hold its third annual Strategy Challenge – a signature initiative focused on helping nonprofits navigate the issues they face in serving their communities in challenging economic times. Teams of outstanding Morgan Stanley professionals have been working closely with nonprofit organizations across the country over the past eight weeks to provide pro bono strategic advice to help the organizations address critical issues pertaining to their growth and business models.
The teams will present their final recommendations before nonprofit and private sector leaders and nonprofit consultants in an on-stage competition on June 15. James Gorman, President and CEO of Morgan Stanley, will present grants of $25,000, $15,000 and $10,000 to the three winning nonprofits to implement the recommended strategies.
This year, the Strategy Challenge expanded to include nonprofit organizations from San Francisco and Chicago, as well as New York City. The nonprofits' missions include childhood nutrition, job training, educational advancement, wildlife conservation, community development, and support for victims of the September 11 attacks – among others.
The 15 participating nonprofits (see list below) were selected from among hundreds of nonprofit partners of the Firm through a rigorous selection process. For the past eight weeks, 15 teams of employees from across Morgan Stanley's businesses – including Investment Banking, Global Wealth Management and Research – have been working directly with the nonprofits to provide thoughtful and valuable pro bono strategic advice on critical business issues.
"The Morgan Stanley Strategy Challenge is designed to help nonprofits develop the long-term sustainable business models that will enable them to serve the community more effectively," said Audrey Choi, Managing Director and Head of Global Sustainable Finance at Morgan Stanley. "We are committed to harnessing our core competencies in the service of the community, empowering nonprofits with the business analytics to help them grow and thrive, even amidst challenging economic conditions."
Over the previous two years, the Morgan Stanley Strategy Challenge delivered approximately 8,000 hours of strategic consulting advice valued at an estimated $1.2 million to 21 nonprofits, based on pro bono standards developed by the Pro Bono Action Tank, which estimates how nonprofits should value in-kind contributions. The winning Strategy Challenge team in 2010 advised the microfinance organization Pro Mujer. The team developed an analytical model for Pro Mujer to evaluate and prioritize country options for international expansion.
"Morgan Stanley has developed the Strategy Challenge as a unique way for our professionals to share their distinctive competencies with the nonprofit sector," said Joan Steinberg, Global Head of Community Affairs at Morgan Stanley. "By channeling their professional expertise into this pro bono project, our employees do more than deliver basic volunteer services – we actually impact the future success of an organization's mission."
Participating nonprofits in this year's Strategy Challenge follow.
Episcopal Social Services
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
The Strategy Challenge is jointly sponsored by Morgan Stanley's Global Sustainable Finance group and Morgan Stanley Community Affairs. To request an agenda, please contact Sandra Hernandez at 212-761-2446.
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.
Media Relations Contact: Sandra Hernandez, 212.761.2446
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