A Year of Continued Support
Goldman Sachs is committed to driving economic growth. In 2011, we made significant progress in corporate engagement — expanding our support of education and small business, extending our global network of academic and non-profit partners and encouraging our people to give and participate in volunteer programs that have an impact on the communities in which we work and live.
For 10,000 Women and 10,000 Small Businesses,
it was a time for continued partnership and progress
Throughout the year, we worked closely with colleges and non-profit institutions to expand 10,000 Women and 10,000 Small Businesses, signature programs of Goldman Sachs and the Goldman Sachs Foundation.
Through the end of 2011, the 10,000 Women initiative has helped 5,500 women across 42 countries grow their small businesses through a combination of business management education, business support services and links to capital. New partnerships included joining with the U.S. State Department to extend the program to new countries and working with the government of Denmark to provide 10,000 Women scholars in Tanzania affordable access to capital. By year’s end, data collected showed the rising impact of the program on communities, revealing that, within 18 months of graduation, 80 percent of scholars reported increased revenues, 66 percent added new jobs and 90 percent were mentoring other women.
New Orleans, Louisiana
In 2011, we also accelerated the growth of 10,000 Small Businesses, a sister program that collaborates with colleges and community organizations to provide entrepreneurs in the U.S. and U.K. with the tools they need to grow and create jobs. Through this initiative, we’re now working with more than 40 organizations across 10 cities, in the two countries. In 2011, we expanded the program to Chicago in the U.S. and London and Birmingham in the U.K.
Goldman Sachs Gives:
Increasing Educational Opportunities
supports Right To Play
In 2007, we launched a donor-advised fund, Goldman Sachs Gives (GS Gives), from which we and our partners recommend grants to non-profit organizations globally. In the last two years, nearly 7,000 grants totaling $425 million have supported organizations located in 24 countries, focused on the fund’s four strategic pillars: Increasing Educational Opportunities; Building and Stabilizing Communities; Honoring Service and Veterans; and Increasing Economic Growth.
In each of these thematic areas, Goldman Sachs partners have come together to drive coordinated gifts in a way that leverages and increases the impact of the firm’s philanthropy. Partners from Europe, the Middle East, Africa, Asia and the U.S. made joint recommendations to support the World Food Programme’s efforts to aid the East Africa Famine. In Asia, a regional GS Gives effort is raising
left to right: Pilar, Chioma, Ross, Rutgers University, New Jersey
awareness and increasing education about breast cancer in cooperation with several organizations focused on women’s health. In the U.K., partners led a large-scale effort in advance of the 2012 London Olympics to support two organizations that use sports to teach life skills to underprivileged children: Right To Play and Greenhouse. In line with the Veterans pillar, GS Gives continues granting towards its $20 million commitment to support returning, wounded veterans with workforce training and placement, and support for military families.
Reinforcing Goldman Sachs’ long-standing commitment to working with academic institutions and providing access to education for students from underserved communities, we have seen that Increasing Educational Opportunities has garnered significant support from our firm’s partnership. Since early 2010, GS Gives has directed approximately $70 million to more than 100 colleges and
universities globally, ranging from Temple and Rutgers Universities in the U.S., to Huaqiao University in China and the University of Western Australia for need-based scholarships for high-performing students. Additional grants have targeted primary and secondary education, diverse educational organizations and after-school programs in low-income neighborhoods, and cultural programs for students around the world.