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National Foundation for Teaching Entrepreneurship

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Title: National Foundation for Teaching Entrepreneurship


1
National Foundation for Teaching Entrepreneurship
  • Overview
  • October 2008

2
NFTEs 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.

3
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
    workplace-readiness, and strengthen important
    life skills essential in todays 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

4
Organizational Snapshot
  • Students
  • 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

5
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 high-income families, limiting
    their employment prospects to low-wage positions
    with less job security.

6
Student Growth
2009 Goal 48,524 students
7
Domestic Market Where We Are, Where Were Going
  • Existing Offices
  • Baltimore
  • Bay Area
  • Chicago
  • Dallas
  • Fairchester
  • Greater Los Angeles
  • Greater Pittsburgh
  • Greater Washington, DC
  • New England
  • New York Metro
  • South Florida
  • Potential Future Expansion
  • Atlanta
  • Detroit
  • El Paso, TX
  • Houston
  • McAllen, TX
  • Philadelphia
  • Phoenix
  • Portland, OR
  • Riverside, CA
  • San Antonio
  • San Diego
  • San Juan, PR

8
International Market Grow Where We Are
Belgium, Netherlands, Ireland, UK, Germany
Bermuda
China
Israel
India
South Africa
New Zealand
9
Program Partners Outside NFTE Offices
  • National Partners
  • 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
  • International Partners
  • 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

10
NFTEs 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

11
Theory of Change
Economically Responsible Member of Society Economically Responsible Member of Society 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 Program NFTE Program NFTE Program
On-mission Students Trained Teachers Effective Curriculum
12
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

13
NFTEs 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.

14
Entrepreneurship Pathway
15
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

16
Academic Standards
  • NFTEs 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.
  • NFTEs 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. DOLs Secretarys Commission on
    Achieving Necessary Skills (SCANS).

17
Alumni Services
  • 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.
  • Alumni opportunities include
  • 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.

18
Teacher Training Development
Train
Implement
Support
  • Identify schools and educators
  • Train educators at 4 day intensive NFTE
    University
  • Mentoring
  • Professional development
  • E-Learning Workshop
  • Teacher Meetings
  • Award opportunities
  • Advanced Teacher Forum
  • Regional retreats
  • Regular site visits from NFTE staff
  • Assist in volunteer recruitment, field trip
    planning and business plan development
  • Online course management system (TEAMS)

19
University Partnerships
20
Research Evaluation Results
  • Harvard Graduate School of Education (Research
    Focus Academics/School)
  • Interest in attending college increased 32
  • Occupational aspirations increased 44
  • Independent reading increased 4
  • Locus of control (belief that attaining ones
    goals is within ones own control) increased 3.1
  • Entrepreneurial leadership increased 13.2
  •  
  • Brandeis University (Research Focus Business
    Knowledge/Formation)
  • 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)
  • 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

21
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.
    Thats 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 NFTEs support, Jasmine
    created an all natural line of hair-care products
    including shampoo, conditioner, hair oil, temple
    balm, hair milk and hair wipes. Today, Jasmines
    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."

22
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 Maliks Five Spot Restaurant
  • When he was 17, Maliks high school guidance
    counselor suggested that he take the first NFTE
    entrepreneurship course that was being offered at
    the University of Pennsylvanias 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, hed 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
    hand-painted 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 didnt stop him from buying the
    property he was renting for the restaurant, as
    well as two other properties on the block. Today,
    Maliks 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.

23
Public Policy Youth Entrepreneurship Strategy
Group
  • In partnership with the Aspen Institute
    ETRADE Financial, NFTE seeks to promote
    entrepreneurship education in low-income
    communities nationwide through thought
    leadership, media and public events. The next
    YESG convening will be in May 2009.

Deborah Hoover, The Burton D. Morgan
Foundation Irv Katz, The National Human Services
Assembly Charles Hiteshew, America's
Promise Kelvin James, ETRADE Bank Valorie
Johnson, The W.K. Kellogg Foundation Jack
Kosakowski, JA Worldwide Dane Linn, National
Governors Association Steve Mariotti,
NFTE Celie Niehaus, ETRADE 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 Marc Spencer, Juma Ventures,
Inc. H. Leigh Toney, Miami Dade College John
Zitzner, E-City
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 Andrew B. Hahn, Brandeis
University Michael W. Hennessy, The Coleman
Foundation
24
National Board of Directors
MARSHA RALLS The Ralls Collection DONNA
REDEL ROBERT REFFKIN Goldman Sachs Co. ARTHUR
SAMBERG Pequot Capital DIANA DAVIS
SPENCER (Co-Vice Chairman) Shelby Cullom Davis
Fdn PETER B. WALKER McKinsey Co. TUCKER
YORK Goldman Sachs Co.
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 JAMES LYLE (Co-Vice Chairman) Millgate
Capital, Inc. STEVE MARIOTTI NFTE CONSUELO
MACK Consuelo Mack Wealth Track KEVIN
MURPHY Tandem Global Partners ALAN
PATRICOF Greycroft Partners
25
NFTEs 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
  • 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

26
Major Donors
1,000,000 (Cont) OppenheimerFunds
Foundation Scaife Family Foundation Diana Davis
Spencer John Templeton Foundation Harry
Jeanette Weinberg Foundation Whitehead
Foundation William Zimmerman Foundation 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
4,000,000 The Atlantic Philanthropies The
Goldman Sachs 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 NFTEs
founding
27
Major Donors
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 YS Interactive Corp.
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 Govt 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
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.
List represents cumulative giving since NFTEs
founding
28
Founder Steve Mariotti
"Our program transforms street smarts into
business smarts"
  • 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.
  • 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.
  • Now, more than twenty years later, NFTEs 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.

29
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