Harvard Business School’s purpose is to educate leaders who “make a difference in the world.”
The Harbus Foundation wants students to make a difference in Boston – right here, and right now. The Harbus Foundation is a philanthropic foundation on campus; in fact, it is the only MBA-student-run foundation in the country. With an endowment of $1.2 million, the foundation gives grants to organizations in the greater Boston area that pursue social change through programs in the areas of education, literacy, and journalism. The foundation also strives to promote HBS student involvement in social enterprise through philanthropic giving.
The Harbus Foundation was founded in 1997 when the Harbus News Corporation sought to put to use its $700,000 surplus. After debating several options, the chair of the corporation’s board decided on the Harbus Foundation.
Since 1997, the Harbus News Corporation has traditionally given the majority of its operating surpluses to grow the foundation’s endowment. The corporation’s board also appoints one of the three EC students who together serve as trustees and leaders of the foundation.
To date, the Harbus Foundation has given over $1M to more than 60 Boston organizations. Each year, the foundation recruits members to serve on its grant teams and its investment team. While the grant teams are responsible for identifying, interviewing, and selecting promising nonprofits for $10,000 grants, the investment team is responsible for managing the foundation’s investment portfolio. All aspects of the foundation—from the trustees who oversee it to the committee that invests the endowment to the groups that award grants—are operated by volunteer HBS students.
Through our work we strive to make a positive impact on the Boston community. Our members devote their time and expertise in order to promote the socially-minded goals of excellent local organizations. In doing so, the Harbus Foundation seeks to educate HBS students on current issues in philanthropy and non-profit management. We aim to inspire a lifelong commitment to the social sector.
This year, for the first time ever, the grant winners will be honored in an Awards Ceremony Fundraising Gala held in Cambridge. The main goal of Gala will be to raise funds to support our new initiative to award larger one-time grants.
Join us in our work for the 2013-2014 academic year. We have various roles in grant teams, investment and fundraising. Both RCs and ECs are encouraged to apply!
Anyone interested in getting involved with the Harbus Foundation can contact Geraldine Prasuhn at [email protected] or Nick Singh at [email protected]