Black MBA - Spring 2008 - (Page 54)

CAREER Philanthropy Bridge Building Make a Career of Giving Back By Mema Ayi A CAREER IN non-profits may be more fulfilling than working 80 hours a week to help a Fortune 500 company expand its profits. But a career in philanthropy may be even better – giving you a bird’seye view of how you can make a difference in your community. The world of philanthropy, and particularly foundations, is seeking the next generation of talent to hire. But they often are not as good at recruiting as large corporations. Additionally, foundations need to strive to become more ethnically and socially inclusive and better represent the communities and causes they wish to help. Bill Qualls, Chairman of the National Black MBA Foundation, says the Foundation’s goal is to use funding to sustain the Association’s educational objectives, including scholarships, and leadership and entrepreneurial efforts of its professional and student members. Ultimately, the NBMBA Foundation will help the association increase its pool of African American talent. “Regardless of the corporate environment, especially after the challenges post-2001, this gives us an expanded way to give back, and it ensures our longterm goals,” Quall says. He adds that i nvest ment i n the NBMBA Foundation will make the organization less reliant on corporate support as it continues its programs. And moving forward, it’ll emerge more dependent on the social responsibility upheld by its members – and more reliant on programs with a successful track record. Perhaps a reminder to all, Qualls adds that working in foundations stems from a spirit of giving that is at the core of the NBMBAA. He concludes, “People who receive would like to give back.” WHAT YOU MAY OR MAY NOT KNOW GRANTMAKERS are bridge builders who link the wealthy to the needs of individual communities – encouraging them to provide financial support to nonprofit organizations. Grantmakers also work with donors to help them invest in specific areas of interest. FOUNDATIONS are as diverse as the communities they serve. Private, independent foundations, such as the Ford and [W.K.] Kellogg foundations, were established when the tax structure changed in 1913. Created to serve the missions of the families for which they were named, family foundations give grantmakers the opportunity to work at the ground level. COMMUNITY FOUNDATIONS, such as the New York Community Trust and Chicago Community Trust, have donoradvised boards that allow individuals to suggest which programs their dollars should support. OPERATING FOUNDATIONS raise their own money, but they also run programs. CORPORATE FOUNDATIONS are staffed by people who work for the company, assisting corporations with their philanthropic functions. WHY WORK FOR A FOUNDATION? Many people who work for foundations actually come from the non-profit world, but they want to have a greater impact on how resources are distributed by designing programs that bring about real change, says Rusty Stahl. He is the executive director of Emerging Practitioners in Philanthropy (EPIP), a New York area organization focused on promoting Bill Qualls, Chairman of the National Black MBA Foundation Board, speaks during the Foundation reception at NBMBAA’s 29th Annual Conference and Exposition in Orlando, Fla. 54 BlackMBA • Spring 2008 • www.nbmbaa.org http://www.nbmbaa.org

Table of Contents Feed for the Digital Edition of Black MBA - Spring 2008

Black MBA - Spring 2008 Passion, Purpose and Power Contents Web Browsing From the President & CEO Up Front Advertising for Change CEO to CEO: Straight Talk with Barbara L. Thomas and Renetta McCann The New Executive Search Wealth Building: A Head Start on Investing and Saving Young Continuing Education: Lifelong Learning is Easier than You Think Making Good: Catching up with some of NBMBAA’s 2007 Scholarship Winners On Campus: Universities Win Grants to Fight Poverty Public Service: Does Your MBA Fit in the Government Sector? Bridge Building: Make a Career of Giving Back Steady Speed: Kim Harris Jones Shares what Drives a Successful Auto Industry Career Financial Planning: A New Way to Work Your MBA Global Focus: Keeping up with the Competition Clock On the Move: Member News, Promotions and More Industry Focus: Biotechnology, Energy, Food & Beverage, Global Media and Entertainment Employer Profiles: Campbell Soup, FINRA Financial Finesse: Denise Hales Harrod and CompuCredit Advocate for the Financially Underserved Creating Lasting Change: GE Impacts Quality of Life in Africa William W. Wells Jr.: Finding Strength in Diversity Leaders of Tomorrow® Community Service Program: NBMBAA® and Wal-Mart Partner to Reward Students Who Give Back Reaching Out: NBMBAA® Chapters Give Back to Their Local Communities How To… Buy a Franchise: Understanding the Basics of Acquiring a Franchise After the Gridiron: Keith Sims – Dunkin’ Donuts Franchise Confidential: Paul Hubbard – Papa John’s pizza Strength Through Adversity: Bob and Hortense Bobbitt – McDonald’s On the Ground Floor: Valerie Daniels-Carter – Pizza Hut, Burger King, Auntie Anne’s Use Your Superstar Status: Black Entrepreneurs Break into Japanese Economy Marketing Maven: Odyssey Media Entrepreneur Linda Spradley Dunn Staying the Course: Black Marathoners Share Lessons from the Race Relationship Forum: Soul-Mate Strategies for the Career-Minded Vacations that Matter: Travel to Make a Difference Advertisers Index

Black MBA - Spring 2008

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