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Bring Me A Book and a team of Morgan Stanley professionals have won the fifth annual Strategy Challenge, Morgan Stanley’s signature skills-based volunteer program providing nonprofits with pro bono strategic consulting. Bring Me A Book works to strengthen the language and literacy skills of California’s underserved children. Based in Mountain View, Calif., the nonprofit has served over 500,000 children, parents and teachers through its Bookcase Library Program, First Teacher Workshop parent training and Take Home Books Program.
The Morgan Stanley Strategy Challenge pairs teams of top-performing Morgan Stanley professionals with nonprofit organizations across the country for eight weeks to provide pro bono strategic advice on scalability and growth issues including business model optimization, geographic and program expansion and new ventures. The participating nonprofits work on causes ranging from children’s health and education to vocational training and community building and are based in New York, Los Angeles and San Francisco.
The teams presented their final strategic programs in a competition at Morgan Stanley’s New York headquarters. The nonprofits associated with the top three teams – Bring Me A Book, Futures and Options and Let’s Get Ready – were presented cash grants of $25,000, $15,000 and $10,000, respectively.
“We congratulate all the nonprofit organizations and Morgan Stanley professionals participating in this year’s Morgan Stanley Strategy Challenge,” said Morgan Stanley Chairman and Chief Executive Officer James P. Gorman. “Morgan Stanley is committed to giving back to the communities where we work and live, and our professionals have made valuable contributions of their skills and expertise to help these nonprofit organizations have an even greater impact.”
This year, the Morgan Stanley teams donated more than 8,000 hours, equivalent to a market value of approximately $1.2 million, based on standards developed by the Taproot Foundation. This figure does not capture the additional value that the actual recommendations and strategies bring to the nonprofits through productivity improvements, new revenue streams and more efficient business models. Over the past five years, the Strategy Challenge has cumulatively delivered over 30,500 hours, valued at over $4.6 million, to 61 nonprofit organizations.