Transcript The National Foundation for Teaching Entrepreneurship

National Foundation for Teaching Entrepreneurship
Overview
October 2008
NFTE’s Purpose
 We teach young people from low-income communities to think
like entrepreneurs because that will give them the power to
own their own future.
 Core Values
Individuality
Initiative
Community
 Vision
Every young person will find a pathway to prosperity.
 Mission
NFTE provides entrepreneurship education programs to young people from
low-income communities.
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Organizational Strengths
 High quality programs: high touch, experiential, fun, relevant
 Each NFTE student creates his/her own individual business plan
 Growing base of active alumni
 World-class program model & methodology:
 Award-winning curriculum
 Teacher training: Certified Entrepreneurship Teachers
 Leveraged model: integration into existing educational and youth development
structures
 Outcomes-based: proven to increase education and career aspirations, increase
business formation rates, improve business knowledge and workplacereadiness, and strengthen important life skills essential in today’s work
environment
 Global reputation, reach & growing network
 Sound financial footing; strong base of highly regarded corporate, foundation
and individual donors
 Recognized by Better Business Bureau and Charity Navigator
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Organizational Snapshot
 Students
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Target Population: young people from low-income communities, ages 11 – 18
230,000 youth served since 1987
FY 2008 Actual: 44,679 students (25% increase over FY07)
FY 2009 Goal: 48,524 students (9% increase over FY08)
 Teachers
 FY 2008 Actual: 806 trained; 1,313 active
 FY 2009 Goal: Train 384 new teachers; retain active corps of 1,531 teachers
 Curriculum
 Pearson Prentice Hall Partnership: 3 books to be published in 2009 and 2010
 Operations & Financial Information
 11 domestic program offices
 Active programs in 21 states and 11 countries
 FY 2009 budget is $18.5M; FY 2008 actual was $19.1M
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Environment
 Dropout rate (USA) = 32%
 African American = 50%
 African American dropouts  60% become incarcerated
 Hispanic = 52%
 Gates funded study revealed 81% of dropouts wanted
more real world learning opportunities  school must be
relevant to interests, making money, marketable skills!
 In the U.S., students from low-income families are 6 times
more likely not to finish high school than those from highincome families, limiting their employment prospects to lowwage positions with less job security.
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Student Growth
Cumulative Students Served
250000
200000
150000
100000
50000
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* 2009 Goal: 48,524 students
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Domestic Market: Where We Are, Where We’re Going
Existing Offices
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Baltimore
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Bay Area
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Chicago
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Dallas
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Fairchester
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Greater Los Angeles
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Greater Pittsburgh
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Greater Washington, DC
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New England
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New York Metro
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South Florida
Potential Future Expansion
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Atlanta
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Detroit
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El Paso, TX
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Houston
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McAllen, TX
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Philadelphia
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Phoenix
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Portland, OR
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Riverside, CA
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San Antonio
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San Diego
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San Juan, PR
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International Market: Grow Where We Are
Belgium,
Netherlands,
Ireland, UK,
Germany
Bermuda
China
Israel
India
South Africa
New Zealand
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Program Partners Outside NFTE Offices
National Partners
International Partners
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 Ashalim / JDC Israel
 Bright China Foundation
 Entrepreneurship New Zealand
Trust
 I Create, Inc: India
 The Maths Centre for Professional
Teaching (South Africa)
 NFTE Belgium
 NFTE Netherlands
 NFTE Germany
 NFTE Ireland
 NFTE United Kingdom
 Youth Entrepreneur Initiative of
Bermuda
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E CITY (Cleveland)
E Florida! (FL Dept .of Ed.)
GEAR UP Kentucky
NAACP
NFTE Philadelphia
Prudential Young Entrepreneur
Program
United World Colleges
YES Carolina
Youth Entrepreneurs of Atlanta
Youth Entrepreneurs of
Kansas
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NFTE’s Growing Network
 World Economic Forum
 Council on Foreign Relations
 Aspen Institute
 New York Economics Club
 Templeton Global Leadership Summit
 Philanthropy Roundtable
 McKinsey & Co.
 Harvard University and 15+ other top
universities using the NFTE case
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Theory of Change
Economically Responsible Member of
Society
I have one or more:
Good Job
Own Business
College degree
I am a High School
graduate.
I am better at:
Math
Reading
Writing
NFTE Change
Academic Attitudes
• Math is important
• Reading is important
• I can use computers
to succeed.
Life Skills
• I can present
• I can negotiate
• I can network
• I can communicate
ABCs of Entrepreneurship
• Business Plan
• Basic Finance Skills
• Marketing Skills
NFTE Program
On-mission
Students
Trained Teachers
Effective Curriculum
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Program Areas
 In-School, Out-of-School Student Programs
 NFTE University Teacher Education
 Curriculum Development & Program
Innovation
 Program Partnerships
 Alumni Services
 Research & Evaluation
 Public Policy
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NFTE’s Strategic Plan
1) Deliver an entrepreneurship education pathway.
2) Provide comprehensive CET support &
professional development programs.
3) Establish a volunteer culture at NFTE.
4) Raise the public profile of NFTE and the impact of
our programs.
5) Provide high quality support services to program
offices
6) Build a sustainable and diverse funding plan.
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Entrepreneurship Pathway
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NFTE Student Experience
 NFTE impacts students’ basic academic and life skills through a
hands-on entrepreneurship curriculum that reinforces math,
reading and writing, and develops skills in critical thinking,
teamwork, communication and decision-making
 NFTE-trained teacher
 NFTE textbook, workbook & supplementary materials
 80 classroom hours
 Business plan development
 Business plan competitions: class, regionals, nationals
 Wholesale trip & selling event
 Field trips to local businesses
 Class speakers (entrepreneurs, business executives)
 Mentoring
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Academic Standards
 NFTE’s programs correlate to a variety of federal, state
and local academic standards helping teachers and
superintendents meet critical education requirements,
including school-to-career objectives.
 NFTE’s curriculum meets national social studies and
mathematics learning standards, as well as language arts,
math, science, technology, and social studies in several
states throughout the country. Standards are defined by:
 The National Council for the Teaching of Mathematics
(NCTM)
 The National Council for Social Studies (NCSS)
 The U.S. DOL’s Secretary’s Commission on Achieving
Necessary Skills (SCANS).
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Alumni Services
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Alumni services seeks to create a solid infrastructure that
supports the needs of NFTE program graduates via advanced
programs, mentoring, and community building, in-person and
online.
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Alumni opportunities include:
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Access to the online NFTE Alumni Network
Use of NFTE BizCenters
Business plan mentoring from local entrepreneurs and business executives
Regional and/or national business plan competitions
Entrepreneurship Clubs (E-Clubs)
Advanced BizCamps™
Entrepreneurship workshops and career forums
Award opportunities, including the Young Entrepreneur of the Year Awards,
Advanced Entrepreneurship Seminar, and various college scholarships.
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Teacher Training & Development
Train
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Identify schools and educators
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Train educators at 4 day intensive “NFTE
University”
Implement
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Regular site visits from NFTE
staff
Support
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Mentoring
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Professional development
 E-Learning Workshop
 Teacher Meetings
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Award opportunities
Advanced Teacher Forum
Regional retreats
Assist in volunteer recruitment,
field trip planning and business
plan development
Online course management
system (TEAMS)
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University Partnerships
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Research & Evaluation: Results
Harvard Graduate School of Education (Research Focus: Academics/School)
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Interest in attending college increased 32%
Occupational aspirations increased 44%
Independent reading increased 4%
Locus of control (belief that attaining one’s goals is within one’s own control) increased 3.1%
Entrepreneurial leadership increased 13.2%
Brandeis University (Research Focus: Business Knowledge/Formation)
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Participation in a NFTE program increases:
 Business knowledge by 20 times
 Business formation rates by 30 times
In a follow-up survey NFTE alums reported:
 70% were in post-secondary education
 43% had part-time jobs; 20% had full-time jobs
 33% were still running a business (no min. income level assumed)
Koch Foundation (Research Focus: Formation/Attitudes towards Business)
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Nine in ten alumni said that NFTE increased their confidence to run a business
Minority business ownership experience was four times higher than comparison group
99% of alumni would recommend a NFTE program
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NFTE Success Stories
Jasmine Lawrence,
Williamstown, New Jersey
Williamstown High School,
Sophomore
Pictured on the Oprah Show
At eleven years old, Jasmine Lawrence had desperate thoughts of creating her own
natural hair-care products. After using a relaxer, the chemicals caused 90% of her
hair to fall out. It was at that moment that Jasmine vowed never to use chemical
products again. She had researched natural hair-care products online, but realized
that these products were not ‘natural’ at all. “That’s when I decided to create my
own,” adding, “I wanted to do this for a living and want to share it with the world.”
With the help of NFTE, Jasmine started her own business, EDEN Body Works after
attending an entrepreneurship program at New York University. With NFTE’s support,
Jasmine created an all natural line of hair-care products including shampoo,
conditioner, hair oil, temple balm, hair milk and hair wipes. Today, Jasmine’s products
bring in over $100,000 per year. Now, at age 15, Jasmine is CEO and founder of
Eden Body Works, named for the Garden of Eden where everything was pure and
natural. Soon, Jasmine could be running her own empire. Big retail chains are now
interested in picking up her line. "When meet with Wal-Mart later this month," she
says. "We're going to propose to them our home collection."
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NFTE Success Stories
Malik Armstead
Five Spot Restaurant, Brooklyn, New York
Malik Armstead pictured with Alan Appelbaum &
Joan Rosen at 7th Annual BAF mentor meeting at
Malik’s Five Spot Restaurant
When he was 17, Malik’s high school guidance counselor suggested that he take the
first NFTE entrepreneurship course that was being offered at the University of
Pennsylvania’s Wharton School. Malik began bringing a book bag filled with soda
and snacks to school and selling them during lunch breaks. By the end of the week,
he’d made enough to buy a pair of sneakers or go out on a date. Malik went on to
attend Morehouse College in Atlanta, where he studied finance and sold handpainted T-shirts and jeans to help pay for his education. After graduating, he landed
a great job on Wall Street with Morgan Stanley.
But Malik dreamed of being his own boss. He saved his money for a few years until
he had enough to open up a small soul food take-out restaurant on Myrtle Avenue in
Brooklyn. In the beginning, the young entrepreneur did everything, including the
cooking. “In those days, Myrtle Avenue was often called ‘murder avenue,’” Malik says.
But that didn’t stop him from buying the property he was renting for the restaurant, as
well as two other properties on the block. Today, Malik’s Five Spot restaurant is a
2,500 square foot supper club that serves up great soul food and music six nights a
week. The restaurant, which Malik runs with his wife and partner Kim, employees
over two dozen people from the community who are trained to learn the business
from the ground up.
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Public Policy: Youth Entrepreneurship Strategy Group
In partnership with the Aspen Institute & E*TRADE Financial, NFTE seeks to promote entrepreneurship education in lowincome communities nationwide through thought leadership, media and public events. The next YESG convening will be
in May 2009.
Stephanie Bell-Rose, (YESG Chairperson), The Goldman
Sachs Foundation
Thomas Payzant, (YESG Vice-Chairperson), Harvard School
of Education
Cathy Ashmore, Consortium for Entrepreneurship Education
Tim Brady, QuestBridge
Maynard Brown, Crenshaw High School, LA
Gaston Caperton, College Board
Daniel Cardinali, Communities in Schools
Gene Carter, Association for Supervision and Curriculum
Development
Rudy Crew, Miami-Dade County Public Schools
Ed Davis, DECA, Inc.
Bruce C. Dunbar, OppenheimerFunds, Inc.
Michael Feinberg, Knowledge Is Power Program
Dan Fuller, Association for Supervision and Curriculum
Development
Deborah Hoover, The Burton D. Morgan Foundation
Irv Katz, The National Human Services Assembly
Charles Hiteshew, America's Promise
Kelvin James, E*TRADE Bank
Valorie Johnson, The W.K. Kellogg Foundation
Jack Kosakowski, JA Worldwide
Dane Linn, National Governors Association
Steve Mariotti, NFTE
Celie Niehaus, E*TRADE Bank
Kim Pate, CFED
Karen Pittman, Forum for Youth Investment
Joanna Rees, VSP Capital
Manny Rivera, NY Deputy Secretary of Education
Andrew J. Rotherham, Education Sector and Eduwonk.com
Shelia Simmons, National Education Association
Stephen Spinelli, Jr., Philadelphia University
Diana Davis Spencer, Kathryn W. Davis Foundation
Andrew B. Hahn, Brandeis University
Marc Spencer, Juma Ventures, Inc.
Michael W. Hennessy, The Coleman Foundation
H. Leigh Toney, Miami Dade College
John Zitzner, E-City
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National Board of Directors
ALBERT ABNEY
Time II, Inc.
PATTY ALPER
Alper Portfolio Group
BILL DAUGHERTY
Interactive Search Holdings
PHILIP FALCONE
Harbinger Capital Partners
MICHAEL FETTERS, Ph.D.
Babson College
LAWRENCE N. FIELD
NSB Associates
TOM HARTOCOLLIS
Microsoft Corporation
LANDON HILLIARD
(Board Chair)
Brown Brothers Harriman
MARSHA RALLS
The Ralls Collection
DONNA REDEL
JAMES LYLE
(Co-Vice Chairman)
Millgate Capital, Inc.
ROBERT REFFKIN
Goldman Sachs & Co.
STEVE MARIOTTI
NFTE
ARTHUR SAMBERG
Pequot Capital
CONSUELO MACK
Consuelo Mack Wealth Track
DIANA DAVIS SPENCER
(Co-Vice Chairman)
Shelby Cullom Davis Fdn
KEVIN MURPHY
Tandem Global Partners
PETER B. WALKER
McKinsey & Co.
ALAN PATRICOF
Greycroft Partners
TUCKER YORK
Goldman Sachs & Co.
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NFTE’s Media Track Record
 Notable Coverage
Print
 Daily News, "Wind in their Sales," June 10, 2008
 Chicago Tribune, "Kidpreneurs don't let age stand in the way of success," May 22,
2008
 Inc. magazine, "Honoring Great Leaders," November 2007
 Los Angeles Times, "A Head Start on Entrepreneurship," July 4, 2007
 Financial Times, "The teens that mean business," April 19, 2007
 USA Today, "Get a job? No, make a job," February 6, 2007
 The Wall Street Journal, "Beyond the Lemonade Stand," November 13, 2006
 The New York Times, "Changing Young Lives With the ABC's of Business," May 1,
2006
TV
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FOX Business News, "Money for Breakfast" program, April 3, 2008
CNBC, "On the Money" program, June 12, 2007
PBS, "Newshour with Jim Lehrer," January 15, 2007
As well as many local ABC, NBC and CBS affiliate news programs in major markets
including New York, Los Angeles, San Francisco & Chicago.
 On The Horizon
 3rd Annual National Youth Entrepreneurship Challenge (business plan competition),
October 23, 2008, sponsored by OppenheimerFunds
 Documentary film project, release fall 2009
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Major Donors
$4,000,000 +
$1,000,000+ (Cont)
The Atlantic Philanthropies
The Goldman Sachs Foundation
OppenheimerFunds Foundation
Scaife Family Foundation
Diana Davis Spencer
John Templeton Foundation
Harry & Jeanette Weinberg Foundation
Whitehead Foundation
William Zimmerman Foundation
$2,000,000 +
Shelby Cullom Davis Foundation
Mary Myers Kauppila & George Myers
Microsoft Corporation
Multinational Scholar Charitable Trust 1907
Arthur & Rebecca Samberg
$1,000,000 +
Amelior/MCJ Foundation
Coleman Foundation
Kathryn Davis
Ewing Marion Kauffman Foundation
Goldhirsh Foundation
Vira I. Heinz Endowment
Charles G. Koch Charitable Foundation
David H. Koch Charitable Foundation
Koch Industries, Inc.
McKinsey & Company, Inc.
Merrill Lynch & Co. Foundation, Inc.
* List represents cumulative giving since NFTE’s founding
$500,000 +
Advanced Network & Services
Dwight Anderson
Argidius Foundation
Bank of America Charitable Foundation
CA, Inc.
Carson Family Charitable Trust
Freddie Mac Foundation
Goldman Sachs & Co.
Landon Hilliard
John S. and James L. Knight Foundation
JPMorgan Chase Foundation
F.M. Kirby Foundation
Louis and Harold Price Foundation
NASDAQ Educational Foundation
Samberg Family Foundation
Smith Barney
Wal-Mart Foundation
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Major Donors
$250,000+
Babson College
Jay & Doris Christopher Foundation
CIBC World Markets Corp. USA
Carlyse F. & Arthur A. Ciocca
Citigroup Foundation
Nathan Cummings Foundation
Dunn Family Charitable Fdn
First Republic Bank Corp.
Morgan Stanley Foundation
Henry E. Niles Foundation
James R. Lyle & Tracy L. Nixon
Peter G. Peterson Foundation
Princess House, Inc.
Prudential Foundation
Safeguard Scientifics, Inc.
SAP America, Inc.
Verizon Foundation
York Family Fund
$100,000+
Achelis & Bodman Foundations
Alcoa Foundation
Allied Capital Corporation
AOL LLC
Artistic Impressions, Inc.
Aspen Institute
Barker Welfare Foundation, Inc.
$100,000+ (cont)
Benson Foundation
Arthur M. Blank Family Foundation
Booth Ferris Foundation
Boston Properties
Morris & Gwendolyn Cafritz Fdn
Bruce & Marjorie Calvert
Castle Rock Foundation
Cooley Godward, LLP
Cortopassi Institute
Cowie Family Charitable Trust
Joseph A. DiMenna
William A. & Lynn Douglass
Megan McGowan Epstein
Gov’t of the District of Columbia
Philip A. & Lisa Falcone
Eris & Larry Field Family Foundation
Fight for Children, Inc.
Paul & Phyllis Fireman Charitable
Foundation
Gabilan Foundation
Gap Foundation
Craig & Kathryn Hall/Hall Financial
Group
Gladys & Roland Harriman
Foundation
Hewlett-Packard Company
J.M. Foundation, Inc.
Irish Youth Foundation
Bob & Karen Jones
* List represents cumulative giving since NFTE’s founding
$100,000+ (cont)
K2 Advisors
Zanvyl & Isabelle Krieger Fund
Kimberly F. Lamanna
MetLife Foundation
Lowell B. Mason
Eugene & Agnes E. Meyer Foundation
Kevin Murphy
New York Stock Exchange Foundation
Patricof Family Foundation
Pitney Bowes Literacy & Education Fund
Picower Foundation
Polk Bros. Foundation
Putnam Investments
Geoffrey S. Rehnert Charitable Fund
Julian H. Robertson
Ronald McDonald House Charities
Sacramento Housing & Redevelopment
Agency
Seedlings Foundation
Shoreland Foundation
Small-Alper Family Foundation
Southern Management Corporation
State Street Corporation
Aaron Straus & Lillie Straus Foundation
Tudor Foundation
Henry E. Niles Foundation
Vitale, Caturano & Company, PC
William E. Simon Foundation
World Trade Center Business Recovery
Grant Program
Zell Family Foundation
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YS Interactive Corp.
Founder:
Steve Mariotti
"Our program
transforms street
smarts into
business smarts"
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Steve Mariotti received an MBA from the University of Michigan and has studied at
Harvard University, Stanford University, and Brooklyn College. His professional career
began as a Treasury Analyst for Ford Motor Co. (1976-79). He then founded Mason
Import/Export Services in New York, eventually acting as sales representative and
purchasing agent for 32 overseas firms.
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In 1982, after getting mugged by teenagers who took $10 from him, Steve realized he
had to help youth find a better way. He made a significant career change and became
a Special Education/Business Teacher in the New York City public school system.
After teaching in notorious neighborhoods such as Bedford-Stuyvesant in Brooklyn
and the “Fort Apache” section of the South Bronx, he discovered unique insights about
connections between entrepreneurship education, learning, and motivation,
particularly among economically disadvantaged youth. This led to the creation of a
formal curriculum and the founding of the National Foundation for Teaching
Entrepreneurship (NFTE) in 1987.
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Now, more than twenty years later, NFTE’s mission is to provide entrepreneurship
education programs to young people from low-income communities. The program has
a proven track record of success. It is frequently used as a model and foundation for
other programs and the organization is considered a global leader in the field of youth
entrepreneurship education. NFTE has reached over 230,000 young people since it
started and has programs in 21 states and 13 countries outside the United States.
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Photos from around the world
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