BECAUSE OF YOU
THE IMPACT OF YOUR PHILANTHROPY
FISCAL YEAR 2021: JULY 1, 2020-JUNE 30, 2021
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BECAUSE OF YOU
n May, the Classes of 2020 and 2021 gathered together for commencement ceremonies. Graduation is always a time of ofas you, College has been able to adapt, innovate and celebration, but this one feltBecause different weour honored two classes thrive this past year. Your commitment has strengthened our of students whose lives had been upended by the pandemic. times of uncertainty, supported our students The hope and optimism werecommunity palpable asduring our community came as time they pursued their goals, the and enabled Babson to continue to together in person for the first in months to honor elevate entrepreneurial leadership. Thank you. resilience of our students, and applaud their achievements.
If you want great morechange information This past fiscal year we all experienced and on the programs referenced in this report, or you would like to reconnect with the College, we hope uncertainty. But as you’ll see, our students, faculty, and staff you’ll were able to adapt and innovate atreach everyout. turn, transforming our entrepreneurial spirit into tangible action and putting what we teach to work every day. And that’s because of you. Thank you. With your support, Babson has kept our community safe throughout the COVID-19 crisis and found new ways of delivering—and even enhancing—our world-class curriculum. You’ve allowed us to continue moving forward with our strategic priorities, advance entrepreneurial leadership to learners everywhere, and ensure that Babson remained the No. 1 college for entrepreneurship. In the following report you’ll see how your generosity helped individual students, the College, and even each other. With strong support from our alumni, parents, and friends we’re empowered to educate those who will lead the change in a world that needs Babson minds more than ever before. Gratefully,
Edward Chiu GOVERNOR CRAIG R. BENSON ENDOWED SENIOR VICE PRESIDENT FOR ADVANCEMENT
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Because of you, we are able to continuously enhance our academic and co-curricular programs to ensure that our students gain a world-class education and that Babson remains at the forefront of entrepreneurship education.
BECAUSE OF YOU, BABSON PROVIDES A WORLD-CLASS EDUCATION.
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UNDERGRADUATE SCHOOL FOR ENTREPRENEURSHIP FOR 25 CONSECUTIVE YEARS – U.S. NEWS & WORLD REPORT
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UNDERGRADUATE BUSINESS SCHOOL FOR ENTREPRENEURSHIP – ENTREPRENEURSHIP MAGAZINE / THE PRINCETON REVIEW
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MBA FOR ENTREPRENEURSHIP FOR 28 CONSECUTIVE YEARS
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U.S. SCHOOL FOR INTERNATIONAL STUDENTS – FORBES
12,040 donors supported Babson in fiscal year 2021, including 8,516 alumni, committing a total of $51.5 million to our College.
FUND FOR BABSON The Fund for Babson provides vital support to the College. Crucial unrestricted funds allow Babson to immediately respond to challenges and opportunities, and direct funding to where it is needed most. Donors like you gave more than $4.1 million in unrestricted gifts to the Fund for Babson in FY2021.
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BABSON CENTENNIAL CAMPAIGN Launched in 2016, the Babson Centennial Campaign—prioritizing students, knowledge and spaces—has exceeded expectations and has already transformed Babson’s campus through capital projects like the Weissman Foundry, the Babson Recreation and Athletics Complex (BRAC), Babson Commons at Horn Library, and Kerry Murphy Healey Park.
As of June 30, 2021, more than $371 million has been raised with the help of 30,531 donors. 393 new funds have been established to support scholarships, athletics, the student experience, academic support, facilities and other programs and activities. Scheduled to culminate in 2023, the Centennial Campaign provides the foundation for Babson’s second century.
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NEW SCHOLARSHIPS
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NEW CHAIR AND PROFESSORSHIPS
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NEW CENTER FUNDS
BABSON’S STRATEGIC PLAN The Babson community co-created a strategic plan for the College to thrive in an ever-changing environment: One Babson Delivering Entrepreneurial Leadership Anywhere, Impacting Ecosystems Everywhere. This strategy focuses on educating and advancing entrepreneurial leaders, creating new learning pathways and engaging ecosystems to enable entrepreneurial leadership without boundaries. Together, we are charting a bold course forward for continued leadership at the forefront of entrepreneurship education. R E P O RT O N P H I L AN T H R O P Y 7
BECAUSE OF YOU, OUR STUDENTS LEAD. As the Babson campus pivoted and transformed in response to COVID-19, the student experience changed too. Many students remained at home with their families, participating in classes and co-curricular activities remotely, while others lived on campus, attending classes in person or from their dorm rooms. The less than ideal circumstances didn’t dim their entrepreneurial spirit. Instead, Babson students stayed motivated, and used the time and experience to create timely and innovative platforms and change.
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Liliana Reyes Medrano ’22, Arizona: Reyes Medrano and her team collaborated with the Massachusetts Executive Office of Elder Affairs to find ways to improve the technological connectivity of older adults, with the goal of combatting social isolation through technology. Feru Deshong ’23, New York: Deshong spoke on a Social Media & Academic Freedom Events panel, discussing ways to create change through social media while mitigating risk. More than 100 participants listened to and engaged with the panel. Ryan Laverty ’20, Rhode Island, Michael Ioffe ’21, California, and Maxine Anderson ’22, Florida: As co-founders of Arist, a text message learning platform, these students partnered with Babson Health and Wellness to create a new course for their platform called Social Connection While Social Distancing. Sumukh Setty ’21, California: Setty, along with five Babson-Olin-Wellesley (BOW) classmates, founded Green Line Ventures (GLV), a fund that provides ventures with investments from $10,000 to $25,000. “ This is a student-run entity that has an overarching mission to bridge the gap between the three schools by providing capital and resources for the next generation of student founders.” – Duncan Mazza ’22, Founding Partner of GLV
“ Over the past year, I have learned that I can be adaptable to changing environments. With the pandemic and learning going remote, it has helped me learn how to better manage my time.” Andrew Correa ’22, Massachusetts
“I’ve learned that there are no problems in this world that cannot be solved with careful planning and empathetic considerations.” Amara Ogukwe ’22, Massachusetts RICK AND SANDY SORENSON ENDOWED SCHOLARSHIP FOR THE ARTS / MICHAEL LONDON ’92 & STEPHEN KRAMER ’92 SCHOLARSHIP
CHISHOLM FAMILY SCHOLARSHIP
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COVID-19 RESPONSE Social distancing, masks, virtual learning, hybrid commencement— the student experience was shaped by a global pandemic and Babson’s necessary response to it. Your generosity helped provide the resources that ensured the safety and health of our community while providing academic continuity for students on and off campus.
MORE THAN
62,000 COVID-19 TESTS ADMINISTERED
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Babson College received an Excellence in Facilities Transformation Award from the Boston Chapter of the International Facilities Management Association for its “Return to Campus” project and management of the COVID-19 crisis on the Wellesley campus.
“ This team very clearly cares about this college community, this campus, the work they do. There’s a lot of pride here. The level of participation from leadership all the way through to staff is just incredible. Babson in many ways is leading the way.” Tricia Lyons ASSOCIATE VICE PRESIDENT OF FACILITIES MANAGEMENT AND CONSTRUCTION
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EMERGENCY FUND After the initial impact of the global pandemic, the Emergency Fund has continued to support students affected by COVID-19, covering necessities like housing, technology and travel needs. 1,841 donors raised more than $111,900 in support of the Emergency Fund.
“ When the pandemic hit and we had to leave campus, I received financial and logistic support to go home in less than 5 days. I did not take this for granted since I know many other international scholars had to stay in the U.S. because it was difficult to return home. Returning to Babson this spring was very difficult due to travel restrictions. However, thanks to this support, I could afford to quarantine for 2 weeks in Peru and arrive in the U.S. safely, thus enjoying the most out of my semester both academically and socially without compromising my financial and health situations.” Bruno Meinhart ’23, Brazil BABSON BRAZILIAN SCHOLARSHIP PROGRAM
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A FURRY FRIEND The Babson community welcomed a new furry face on campus in February. Roger, the College’s certified community resource dog, quickly became a student and staff favorite, supporting the social and mental health of our community while fostering a sense of connection.
“ He will have a lasting impact— who doesn’t love a puppy? Having something that everyone is mutually invested in and excited about can bring so much school spirit and connection throughout the community.” Andrea Lindner ’22, Connecticut STUDENT GOVERNMENT ASSOCIATION PRESIDENT
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BUILDING A MORE DIVERSE, EQUITABLE AND INCLUSIVE BABSON Babson’s strategic plan prioritizes diversity, equity and inclusion as a key strength in entrepreneurial leadership, catalyzing new initiatives and strengthening existing efforts across the College. A broad constellation of committees—with student, faculty, staff and alumni representation—has contributed to the advancement of DE&I at Babson, while ensuring transparency and accountability to support our ongoing success.
“ Diversity, equity, and inclusion is something that’s near and dear to my heart. One of the key tenets of the strategic plan is to advance DE&I. It’s some of the best progress we’ve ever made.” Amanda Strong ’87 BABSON BOARD OF TRUSTEES, 2021 MARTIN LUTHER KING JR. LEGACY DAY LEADERSHIP AWARD ALUMNI WINNER
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Nearly $27,000 was gifted to Babson in support of the Diversity and Inclusion Fund, another $22,000 for the Diversity Leadership Award Fund, and $1 million for the James A. Rullo MBA ’85 and Eileen Rullo Diversity Leadership Endowed Scholarship that is awarded to students with the greatest potential for leadership in creating a richly diverse Babson community.
“ We know there is considerable and urgent work to be done as we take this journey together. We also know that in the past, we haven’t always gotten it right. We are proceeding with humility and active learning. As a community of entrepreneurial leaders, we care deeply about diversity, equity, and inclusion, and commit to being intentional about creating meaningful and sustainable change. Our work together is ongoing. I encourage you, as an important member of this diverse community, to continue to build the One Babson we aspire to be.” Sadie Burton-Goss, Ph.D. CHIEF DIVERSITY AND INCLUSION OFFICER
This past year, Babson invested more than $9 million in student scholarships to recruit and retain students who contribute to the diversity of our community. Our first-year class arriving this fall includes 32% underrepresented minority students—the largest number in Babson history.
“ Babson’s mission is to empower entrepreneurial leaders to create lasting social and economic value and that entrepreneurial leadership needs to extend everywhere, including the investments we make as an institution.” President Stephen Spinelli Jr. MBA’92, PhD
A new mentorship program paired more than 25 students (including 20 Diversity Leadership Scholars) with 21 alumni mentors. In February, the Board of Trustees voted to integrate environmental, social and governance factors as well as diversity, equity and inclusion principles when making investment decisions for its endowment. R E P O RT O N P H I L AN T H R O P Y 15
This year, the Black Student Union (BSU) celebrated its 50th anniversary. As a part of the celebration, new special interest housing for members of the BSU was unveiled. The Johnson House was named in honor of Eric Johnson, ’72, P’08, who founded the BSU in 1970. Our generous donors gave more than $26,000 in support of The Johnson House, more than $4,000 for the BSU, and more than $6,000 for the student-led Black Lives Matter fund.
“ There are similar elements in place now, so the need for a Black Student Union— a place of comfort and support—is just as important today as it was 50 years ago.” Eric Johnson ’72, P’08 FOUNDER OF THE BLACK STUDENT UNION “ As we talk about how we can provide social economic value, even globally, I think it’s important to have a house and have a space dedicated to that on Babson’s campus. We see this as a hub for economic development, unity, and education for students on this campus. We see this as being a framework where we can facilitate the resources at Babson to actually close the wealth gap. That’s the long-term vision of how we plan to operate the house.” Jaylen Bell ’21, Illinois BSU PRESIDENT
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Support from our donors helps fuel the programs and student groups that make Babson a more diverse, equitable and inclusive place to learn.
“ This was the place I needed to be. Not only has it allowed me the opportunity to explore the entrepreneurial side of me, but also develop as a person. Babson is where I have officially been able to become my authentic self. I don’t think I could have gotten that if I went anywhere else. By having a college which emphasizes diversity and inclusion, it offers a sense of security and support.” Duruo Murray ’21, New York POSSE SCHOLAR, 2021 UNDERGRADUATE PRIDE AWARD RECIPIENT
“ To me, Babson Pride represents inclusivity. It is not an organization where you’re expected to talk about yourself and break down all the labels that people use. Instead, it’s a space to meet people who value you for who you are and just want to be with you.” Ryan Findling ’23, Michigan
With your support, we raised nearly $20,000 for LGBTQ+ and Identity Programs, and more than $2,000 for Pride, Babson’s LGBTQ+ and ally student organization.
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SCHOLARSHIPS Scholarship support is essential to our students. Scholarships open doors and change lives by making a world-class Babson education accessible to students who otherwise might be unable to attend college at all. By supporting scholarships, you’re giving the gift of a Babson education to deserving students who will go on to become entrepreneurial leaders and change-makers.
Donors like you raised more than $16.2 million in FY21 in scholarship funds for Babson students.
• Babson awarded more than $48 million in undergraduate aid. • Nearly half of Babson’s undergraduates receive financial assistance. • Babson meets 100% of incoming students’ demonstrated need in the first year.
“ The pandemic severely impacted my family’s small business, a Chinese restaurant. By having this scholarship, we didn’t need to worry about paying for tuition, which took away the stress of such a financial burden.” Sabrina Yeung ’22, Connecticut THE AMY REICH WEIL ’87 SCHOLARSHIP
“ Coming from Bulgaria, where the standard of living is lower than in the U.S., my parents would not have been able to financially support me in acquiring a degree here. However, they have always supported me to achieve high and be the best version of myself. Therefore, this scholarship was the tool that made it all possible. My family sees the impact and the importance of education in a worldclass institution such as Babson.” Martina Garabedian ’22, Bulgaria KRONOSPAN SCHOLARSHIP PROGRAM
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“ Receiving this scholarship means the world to me. It means I could break the cycle of poverty in my family while also fulfilling my goals and dreams. Without the scholarship I believe my opportunities would be limited. Of course, at the end of the day it is up to me to pave the path for my future. However, with the scholarship, a lot of doors have been opened. By attending Babson, I was given the opportunity to meet so many amazing and inspirational people. Their stories and hard work have impacted me to never give up, step out of my comfort zone and to always seek opportunity.” Yekaterina Vikhrev ’22 SOFI TUCKER FOUNDATION SCHOLARSHIP
“ Without the scholarship help, this school and this education would not have even been an option for me. This scholarship has allowed me to branch out, pursue what I love, and go to a college that has proven to be more helpful than I had ever imagined. It has allowed me to travel, meet lifelong friends, and set up a life out here that I have always wanted. This scholarship is the sole reason why I have been able to consider attending Babson, and without it, my life would have been irreparably changed. I am very happy that I have been able to call Babson my home.” Thomas Croisant ’23, Illinois THE PERRY ’87 LEADERSHIP FUND
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THE POWER OF A COHORT Donors can further their impact by expanding their philanthropy and funding a cohort of scholarship students based on merit or need. Scholars who participate in cohort programming become some of Babson’s most successful students. In a cohort, students work together to support each other personally and academically, acclimate to campus life, and develop leadership skills. Through our scholarship cohorts, students come to campus with a built-in network of peers. They quickly become a team, and go on to build connections that last a lifetime.
The Len Green Scholars cohort established this year is the latest addition to Babson’s prestigious group of cohorts. Additional scholarship cohorts: Arthur M. Blank School for Entrepreneurial Leadership Scholars Babson Posse Scholars
Arthur M. Blank ’63 H’98 and the Arthur M. Blank School for Entrepreneurial Leadership Scholars
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Center for Women’s Entrepreneurial Leadership (CWEL) Scholars
Natalie Taylor Scholars
Diversity Leadership Scholars
Weissman Scholars
Presidential Scholars Sorenson Art Scholars
“ Scholarships have been a life-saver for my family, especially in these unprecedented times. In September of last year my father lost his job and my family’s finances were reduced significantly. If my family had to pay for my education, I would have had to drop out of college. Because of my scholarship, I am able to continue my education at the school I love and pursue my own success. I can’t stress enough how impactful this scholarship has been in my life. It has given me opportunities I didn’t think I would be lucky enough to receive, and I am extremely grateful to everyone who believed in me and supported my education.” Madison Grogan ’24, California
“ The CWEL Scholars program is the reason why I went to Babson, and has proven its value to my leadership development time and time again through mentorship programs, networking opportunities, communication skills, and more. With an unwavering dedication to the growth of female leaders, CWEL has given me the skills and confidence to take on new challenges and push myself to succeed in every endeavor. I would not be the leader I am today without the CWEL Scholars program.” Shaelyn Eldridge ’18, New Hampshire FORMER CWEL SCHOLAR
ARTHUR M. BLANK SCHOOL FOR ENTREPRENEURIAL LEADERSHIP SCHOLARSHIP
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GLOBAL SCHOLARS The Global Scholars Program is a need-based scholarship program for international students, enabling deserving scholars from around the globe to access a world-class Babson education.
With your generosity, more than $8.6 million was given in support of the Global Scholars Program.
“ Scholarship support helped my family send me to a college outside of Puerto Rico to receive a better education. The financial support has been incredible because it alleviated the burden of having to take out a loan to pay for college. If I did not receive the scholarship, I do not think I would have had the opportunity to receive the great education that only Babson can offer. My family and I are immensely grateful for the support of the Weissman family and will always remember their mark on our lives.” Jose Scherrer ’24, Puerto Rico WEISSMAN SCHOLARSHIP
“ Being a Global Scholar allowed me to understand who I can be when I’m not limited by my financial situation. It has helped me develop my potential and expand my projects, impacting even more people back in my community.” Giullia Jaques Caldeira ’24, Brazil BABSON BRAZILIAN SCHOLARSHIP PROGRAM
“ Receiving a Global Scholarship allowed me to pursue my dreams. I stopped worrying about the future and started growing into an impactful entrepreneur. Now I am alleviating poverty at the community level.” Emmanuel Nsanganwa ’24, Rwanda GLOBAL SCHOLARS PROGRAM
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Babson created the Sudeeksha Bhati ’22 Global Scholarship in memory of Sudeeksha Bhati ’22, a Global Scholar who sadly passed away in the summer of 2020. This scholarship honors her entrepreneurial spirit, leadership and generosity, while also expanding access to a Babson education for promising students from India.
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CREATIVITY AT BABSON The arts are an essential part of a well-rounded Babson experience for our students, and your generosity helps enhance the programs that enable members of our community to explore their creativity and enrich their education. Despite not being able to gather together in groups on campus, BabsonARTS produced a robust suite of activities over the past year. Highlights include theater productions like the digitally presented Altered States show in fall 2020, art exhibitions in the Hollister Gallery including Dan Borelli’s Chasing Color, live virtual poetry readings, film screenings with the Film Association of Babson Olin Wellesley, and virtual programs like the Arts and Business Conversation series.
The Charles D. and Marjorie J. Thompson Visiting Poets series brought four acclaimed poets to Babson for two nights of readings and discussion around the theme of Poetry and 2020 Vision. The generosity of donors like the Thompson family allow us to enhance our arts offerings.
BabsonARTS launched a Student Arts Grant initiative this year to provide students a path to propose and request funding for a semester long art project. One was awarded to senior Luna Zhang, who created a small fashion collection for upcycled materials. The second was awarded to first-year student Dylan Magoon, who worked on a self-portrait that reflected his experience during his first year of college during the pandemic.
“ I am incredibly proud of the events we were able to curate during the challenging 2020-2021 academic year and our ability to continue to connect with students, especially at a time when they needed that support. We are really making inroads and providing impactful programs and connections.” Leslie Chiu DIRECTOR, SORENSON CENTER FOR THE ART/BABSONARTS
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WEISSMAN FOUNDRY Creativity and collaboration come alive at the Weissman Foundry, a space built to ignite forward-thinking idea exploration, iteration and design, and facilitate meaningful knowledge transfer between the communities at Babson, Olin and Wellesley Colleges. Your generosity enriched the student experience by supporting programs like the Foundry Fellowship, Foundry Scouts, and Personal Project Grants.
“ Any idea is worth pursuing and can be made into a reality—see you at the Foundry!” Hayley Gee ’23, New York WEISSMAN FOUNDRY SCOUT
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BABSON ATHLETICS “ We have a lot to be grateful for. Although many of our teams didn’t have the chance to play due to the pandemic, donors like you still showed up for us. With your help we were able to ensure our student-athletes had the support they needed to stay safe and healthy, and the resources to keep our programs strong.” Mike Lynch PAMELA P. AND BRIAN M. BAREFOOT SENIOR DIRECTOR OF ATHLETICS AND ATHLETICS ADVANCEMENT
Babson Recreation and Athletics Complex (BRAC) BRAC is home to our fitness center, sports medicine suite, and training facilities. It offers student-athletes and the entire campus community an outlet to stay healthy and active. 23 donors gave more than $260,000 in support of BRAC.
“ Baseball, for our team right now, is very important. We go through classes online and we’re not really seeing people face to face. Then you get down to the field and see your best friends every day, and you get to play the game that you love. The diamond is a safe space for all of us—we get to have fun, be together and work hard.” Jordy Allard ’21, Vermont BABSON BASEBALL
2,819 donors gave more than $1.6 million in support of Babson Athletics. 252 donors gave more than $133,000 to the Athletics Excellence Fund. 26 B A B S O N COLLEGE
8 donors gave more than $192,000 in support of the BRAC Endowed Fund.
Barefoot Athletics Challenge Each year, Babson fans come together to support our teams through the Barefoot Athletics Challenge, a week of giving that supports team travel, educational and leadership programming, specialty equipment, technology, and more. 1,567 donors gave more than $200,000 during this year’s Challenge. More than $1 million has been donated by 10,838 donors through the Barefoot Challenge since its launch in 2014. Brian M. Barefoot ’66, H’09, MP’01
Vassalotti Golf Endowment In honor of former head coach Mike Vassalotti, (pictured, center) Babson Athletics created an endowed coaching position to recognize the impact Coach Vass had on our golf team and the Babson community, while providing permanent funding for the program. 29 donors have committed more than $107,000 in support of the Vassalotti Golf Endowment.
Marcos Flegmann Champion of Life Fund The Marcos Flegmann Champion of Life Fund was created in honor of Marcos Flegmann ’12, who made an unforgettable impact on his friends and colleagues. So far, Babson alumni and friends have raised more than $57,000 to honor his life and legacy. R E P O RT O N P H I L AN T H R O P Y 27
BECAUSE OF YOU, BABSON EMPOWERS STUDENTS.
Arthur M. Blank ’63 H’98 28 B A B S O N COLLEGE
THE ARTHUR M. BLANK SCHOOL FOR ENTREPRENEURIAL LEADERSHIP Thanks to the generosity of The Arthur M. Blank Family Foundation, Babson established The Arthur M. Blank School for Entrepreneurial Leadership (AMBSEL) in 2019. AMBSEL is home to the College’s centers and institutes, and serves as Babson’s hub for entrepreneurial leadership. Under the inspired leadership of Donna Levin, AMBSEL’s mission is to empower the next generation of entrepreneurs to lead with empathy, morality, compassion and drive to produce solutions that will benefit their communities and the world.
“ We can’t sit back and enjoy being No. 1. We’ve got to continue to do what we’ve always done, which is innovate and pivot and stretch ourselves.” Scott Taylor ARTHUR M. BLANK ENDOWED CHAIR FOR VALUES-BASED LEADERSHIP
“ At Babson and The Blank School, we are helping create leaders that people want to follow: leaders who inspire everyone around them to do more than they thought possible, to go for bigger visions, to go solve challenges.” Donna Levin CEO, THE ARTHUR M. BLANK SCHOOL FOR ENTREPRENEURIAL LEADERSHIP
Arthur M. Blank Center for Entrepreneurship
Center for Women’s Entrepreneurial Leadership
Institute for Family Entrepreneurship
Kerry Murphy Healey Center for Global Healthcare Entrepreneurship
The Lewis Institute for Social Innovation
Tariq Farid Franchise Institute R E P O RT O N P H I L AN T H R O P Y 29
Dancan Onyango MBA’20, presenting at a Butler Fast Track Showcase for his business, Jiwo Paro.
GLOBAL ENTREPRENEURIAL LEADERSHIP WEEK The Centers and Institutes of The Blank School created a uniquely Babson iteration of Global Entrepreneurship Week, an international initiative encompassing 35,000 events around the world annually. Our Global Entrepreneurial Leadership Week brought together more than 2,000 members of the global Babson community from 74 different countries to collaborate, connect and celebrate entrepreneurial leadership.
“ The world needs entrepreneurial leaders more than ever right now. Every single industry must be reimagined and rebuilt to survive in our new global climate. With Babson’s expertise and reputation, The Blank School will educate and empower entrepreneurial leaders with an elevated set of skills and an enhanced mindset to lead that change. This is Babson’s, and The Blank School’s, moment to make a global impact when the world needs it the most.” Donna Levin CEO, THE ARTHUR M. BLANK SCHOOL FOR ENTREPRENEURIAL LEADERSHIP
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THE ARTHUR M. BLANK CENTER FOR ENTREPRENEURSHIP As Babson’s hub for entrepreneurial activity, the Arthur M. Blank Center for Entrepreneurship is home to the world’s largest dedicated entrepreneurship faculty and serves as the headquarters for programming and support for Babson’s emerging entrepreneurs.
446 donors gave more than $349,000 in support of the Blank Center. Thanks to donors like you, the Blank Center is able to offer programming to help our learners develop critical entrepreneurial leadership skills.
SUMMER CATALYST The Summer Catalyst Program, this year’s online version of the annual Summer Venture Program, is an accelerator that helps move businesses forward by providing the resources and training entrepreneurs need to succeed. During this past year’s Summer Catalyst, the Blank Center worked with 15 student startup teams over 10 weeks to develop their entrepreneurial leadership skills and knowledge, and accelerate their ventures that spanned diverse industries from fintech to food and beverage, and were located in six different countries.
THE BUTLER LAUNCH PAD The Butler Launch Pad is a startup incubator, which supported 34 student and alumni businesses with seed fund grants this year, which helped them overcome current challenges and reach their next business milestones. In the spring of 2021, 53% of the ventures receiving seed funding were women-led. Donors like you raised more than $35,000 in support of the Butler Launch Pad.
“ In a short 10 weeks, Summer Catalyst builds founders’ entrepreneurial leadership skills, greatly accelerates their ventures, and forges connections among peers and with industry influencers. The impact of the program is dramatic and lasts a lifetime for these promising entrepreneurs.” David Chang SUMMER CATALYST DIRECTOR
With your support, we raised more than $131,000 for the Summer Venture program. R E P O RT O N P H I L AN T H R O P Y 31
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B.E.T.A. CHALLENGE The B.E.T.A. Challenge is an annual competition that recognizes the progress and potential of Babson ventures. The 2021 B.E.T.A. Challenge came to an exciting conclusion with a special winners announcement during Babson Connect: Worldwide. More than $460,000 in cash and in-kind prizes were awarded in recognition of Babson ventures seeking to solve problems and create impact.
Grand Prize Winners: • Michael Freyer MS’16, Jennifer Contreras, Athena Furuta ’20, Van Nguyen, and Debbie Snodgrass, oveRNight RN, Alumni Track Winner • Aakash Shah MBA’21, Vandana Jain, and Ashish Jogi, High Time Foods, Graduate Track Winner • Aria Mustary ’21, Nipa Das, Glen Ged ’21, and Aaron Wendell ’20, Mai Soli Foundation, Undergraduate Track Winner
The M’15 B.E.T.A. Challenge Alumni Prize Campaign was launched by a group of alumni to endow the B.E.T.A. Challenge Alumni Prize, ensuring the success of the competition and Babson’s current and future alumni. Donors have raised more than $100,000 to date through the M’15 B.E.T.A. Challenge Alumni Prize Campaign.
Donors like you helped raise more than $79,000 for the B.E.T.A Challenge. R E P O RT O N P H I L AN T H R O P Y 33
CENTER FOR WOMEN’S ENTREPRENEURIAL LEADERSHIP The Center for Women’s Entrepreneurial Leadership (CWEL) educates and empowers women to create social and economic impact through entrepreneurship, while enlightening the global community about the importance of women’s leadership for prosperity and human progress. As other institutions across the country canceled programs and pressed pause, the CWEL team quickly pivoted, utilizing an entrepreneurial mindset and steadfast commitment to the mission to serve more people in more places through more programs than any other year in its history. Support from donors like you allowed CWEL to continue its important work, increasing access to award-winning programs for students, alumnae, and the global community.
“ CWEL made Babson feel like home to me.” Maxine Anderson ’22 FLORIDA, CO-FOUNDER OF ARIST AND PROJECT W
267 donors raised more than $634,000 in support of CWEL.
C200 CHAMPION PROGRAM C200’s CHAMPION Program was created in partnership with the C200 organization, providing the WIN Lab accelerator experience, in addition to an extensive professional network and $25,000 in grant funding to each participant. The program launched in the fall of 2020 to support women-owned businesses that have revenue between $250,000 and $1 million. Fifteen participants went through the program, receiving 75 coaching sessions, and 645 contact hours. 34 B A B S O N COLLEGE
WIN The Women Innovating Now (WIN) Growth Lab, housed in both Wellesley and Miami, is designed to help women entrepreneurs successfully scale their businesses by providing experiential learning opportunities, catalyzing innovative thinking and cultivating an inspiring community. With the support of our donors, the WIN Lab and WIN Lab-Miami raised more than $28,000 this year, and the WIN Lab Women of Color Bootcamp raised $275,000. The Patricia Henriques Founder Fund, an endowed fund that provides scholarship seats for woman entrepreneurs participating in a WIN Lab Global venture accelerator program, raised more than $104,000 this year.
“ The WIN Lab provides the structure that we need and the entire Babson network, even virtually. It’s a phenomenal program so far.” Colleen Leung MBA’18, Massachusetts WIN LAB PARTICIPANT
BLACK WOMEN’S ENTREPRENEURIAL LEADERSHIP (BWEL) PROGRAM Designed for Black women by Black women, BWEL launched in the fall of 2020 to serve as a resource partner for Black women entrepreneurial leaders and to help eradicate the cycle of challenges they face with starting, growing, and sustaining their businesses. In its first year, BWEL served 89 entrepreneurs across 16 states, while providing 1,700+ contact hours.
“ How do we move the needle to make sure these Black businesses are competitive and get full access to all resources? We want to reach the women in underrepresented communities. We can do better. We are No. 1 in entrepreneurship. I want Babson to be number one when it comes to Black entrepreneurs as well.” Shakenna Williams ’94 EXECUTIVE DIRECTOR, BABSON COLLEGE CENTER FOR WOMEN’S ENTREPRENEURIAL LEADERSHIP
Donors like you raised more than $60,000 in support of BWEL this past year. R E P O RT O N P H I L AN T H R O P Y 35
2019 Babson Women’s Leadership Academy
WOMEN’S LEADERSHIP ACADEMY The Women’s Leadership Academy, a program designed to empower high school women through goal setting and the Entrepreneurial Thought & Action™ methodology, partnered with Project Glimmer and the Inner Spark Foundation to bring a custom program to underserved communities. Serving 20 participants, 80% of whom were women of color, this new iteration of programming helped a cohort of young women build confidence, while empowering them to take action to reach their goals.
CWEL PATHWAYS PROGRAM This program is a system for students who are striving to engage, learn and lead in their respective fields of interest. Forty-four students enrolled in CWEL’s pilot program, which includes courses, events and mentorship, culminating in a digital badge and demonstrating their commitment to becoming inclusive entrepreneurial leaders. 36 B A B S O N COLLEGE
INSTITUTE FOR FAMILY ENTREPRENEURSHIP The Institute for Family Entrepreneurship (IFE) strives to empower entrepreneurial families to strengthen both their businesses and their family ties, amplifying their capacity to create growth and positive change from generation to generation. With the support of our donors, the IFE is able to develop and deliver research, resources and programming to elevate the impact of entrepreneurial families around the world. This past year, our students and families were able to connect and learn from a number of innovative programs, including Peer Forum, helping students build the emotional intelligence needed to successfully navigate family entrepreneurship, and Family Entrepreneurship Amplifier, an entrepreneurial family course that engages students and their families during their entire time at Babson. More than 600 members of the Babson community attended the virtual series, How Entrepreneurial Families Can Lead, Now and in the Post Crisis World.
“ IFE has given me a different perspective as a business student coming from a family entrepreneurship background. My favorite thing about IFE is my parent’s engagement within the program. It helps our family because we’re always learning new things.” Elizabeth Silverstein ’21, Massachusetts
235 donors gave more than $3 million to support the IFE.
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BABSON-CAMUS GLOBAL FAMILY ENTREPRENEURSHIP AWARD Entrepreneurial leader and Babson alumnus, Ernesto Bertarelli ’89 has strong ties to family entrepreneurship. He represented the third generation of his family to lead the Swiss Biotechnology company, Serono, and is now chair of Waypoint Capital and co-chair of the Bertarelli Foundation. Bertarelli has been an avid supporter of the Institute for Family Entrepreneurship for many years, and his contributions have helped shape the IFE into what it is today. In recognition of his family’s many contributions to the global business and entrepreneurship community, Ernesto Bertarelli ’89 was awarded the inaugural Babson-Camus Global Family Entrepreneurship Award during this year’s virtual Babson Connect: Worldwide global entrepreneurial summit. The award honors highly distinguished and uniquely impactful business families that create significant economic and social value across generations.
“ We are grateful for the thought leadership and support that Ernesto Bertarelli has provided to the Institute for Family Entrepreneurship.” Lauri Union NULSEN FAMILY EXECUTIVE DIRECTOR, INSTITUTE FOR FAMILY ENTREPRENEURSHIP
“ It is family entrepreneurship that is creating the economic and social value around the world.” Cyril Camus ’91 BABSON TRUSTEE AND CHAIR OF BABSON’S GLOBAL ADVISORY BOARD
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KERRY MURPHY HEALEY CENTER FOR GLOBAL HEALTHCARE ENTREPRENEURSHIP The Kerry Murphy Healey Center for Global Healthcare Entrepreneurship is a space for entrepreneurial leaders who design, disrupt and define global healthcare entrepreneurship. It is at the nexus of medicine and entrepreneurship, creating solutions that will improve healthcare around the world by addressing the fundamental issues of access and infrastructure.
Because of your support, the Healey Center educates our community through classroom learning and events, while developing partnerships that spark advocacy and create change. As a thought leader and catalyst for learners across ages and stages, the Healey Center provides programs that educate and empower our community through guest lectures, coaching, innovation labs, and the Annual Global Healthcare Entrepreneurship Challenge. The Healey Center has reached more than 1,000 people through events at Babson like the Entrepreneurial Leadership Village Discussion Series and Babson Discover, as well as external panels and forums about the future of healthcare. Through partnerships with organizations like the University of Global Health Equity (UGHE) in Rwanda and initiatives like the Community Health Equity Innovation Lab, the Healey Center is advocating for improvements in global healthcare and creating an entrepreneurship ecosystem for healthcare practitioners, entrepreneurs, and leaders.
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THE LEWIS INSTITUTE FOR SOCIAL INNOVATION Founded in 2010, the Lewis Institute empowers its students and stakeholders to take action on advancing UN Global Goals—challenges like poverty, climate action and inequalities. The Institute provides programming and resources designed to inspire social innovation and activate students to become change-makers.
“ I knew Babson was the place for me, but it was really the Lewis institute that got me. I definitely want to be a social entrepreneur. My dream has always been to start a tech firm based off of biomimicry and creating climate mitigation solutions that harness the power of nature.” Ela Gokcigdem ’24, Virginia PRESIDENTIAL SCHOLAR, FOUNDER OF THE YOUTH ENVIRONMENTAL SOCIETY
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“ I am on the right path to make a difference in the world. I have been interested in social entrepreneurship and service since I was young, and knowing that someone has seen this effort through my involvement in college is amazing.” Liliana Reyes Medrano ’22, Arizona CAP PARTICIPANT
“ The Babson Board Fellows program exposed me to the inner workings of a non-profit board and the importance of public-private partnerships that enable social and economic change. My experience helped me better understand the critical role business leaders play in the non-profit ecosystem, beyond donations.” David Mungai MBA’17, Connecticut FORMER BABSON BOARD FELLOWS PARTICIPANT
With the help of our donors, the Lewis Institute fortifies ongoing opportunities to leverage and scale durable, positive impact through unique and impactful experiential learning: Social Innovation Inventureship™, a first-of-its-kind Babson-paid or credit-bearing fellowship that allows students to invent their own social innovation project to address a real and current social impact challenge. Community Action Program (CAP), an opportunity for work-study eligible students to perform and get paid for community service through work-study funding. Babson Board Fellows places Babson MBA students and MBA alumni as nonvoting members on nonprofit boards. Service, Justice & Sustainability Programs enable undergraduates to experience how to create impact in their communities, like teaching entrepreneurship to underserved youth in Boston and Tanzania. Babson Youth Impact Lab provides young adults with the skills and mindset to create change for themselves, their communities, and the world. Entrepreneurial Leadership in the Social Sector, an executive certificate program for social sector leaders and boards to learn how to use Entrepreneurial Thought & Action® to navigate critical moments of uncertainty, transition, and growth. R E P O RT O N P H I L AN T H R O P Y 43
TARIQ FARID FRANCHISE INSTITUTE Thanks to a generous gift from Tariq Farid P’15, founder and CEO of Edible Brands, the College is building a new institute to enhance the understanding and practice of franchising at Babson and beyond. The Tariq Farid Franchise Institute at Babson College will provide curricular and co-curricular education and expertise to rising entrepreneurs to accelerate their success in the world of franchising. Within Babson’s existing framework, the Institute will provide courses at the undergraduate, graduate, and certificate levels, and will also partner with each of Babson’s existing centers and institutes to infuse franchising expertise into the curriculum and co-curricular programs College-wide.
Somia Farid Silber ’15, Vice President of e-Commerce at Edible Brands and daughter of Tariq Farid, explains why giving back to Babson is important to her family, and why she and her father decided to help create the Tariq Farid Franchise Institute:
“ My father came to the U.S. when he was 11 years old with really nothing, and he truly fulfilled the American dream. So it’s important for him to leave a legacy. To do that with Babson is amazing because of how influential Babson has been on my career and the business. There’s a lot of opportunity when it comes to the intersection of franchising and entrepreneurship.”
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THE STEPHEN D. CUTLER CENTER FOR INVESTMENTS AND FINANCE The Cutler Center advances finance education through programs that enrich the student learning experience and improve Babson students’ marketability.
The Center was founded through the generosity of Stephen D. Cutler MBA’61 and his wife, Alice. Stephen sadly passed away in 2020, and is greatly missed by the many Babson community members whose lives were touched by his legacy. Many friends of the Cutler family made gifts to the College in memory of Stephen, raising more than $23,000 for the Cutler Center.
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465 donors gave more than $811,000 in support of the Cutler Center in FY21.
Team Babson won the local CFA Institute Research Challenge in the winter of 2021. This was the third time in the last five years that Babson College has won the local competition. The team is thankful for David Wellinghoff MBA’07, who provided guidance and support to students as the industry advisor.
Thanks to the philanthropic support of our donors, the Cutler Center is able to offer experiential learning programs, events, mentorships, and more for Babson students and the wider community to enhance their knowledge of finance and investments. This past year the Cutler Center was able to deliver on its mission through the following initiatives: Experiential Learning through programs like Finance Lab 101, focused on teaching students the various analytical tools available in the Finance Lab through hands-on instruction, and participation in the CFA Institute Research Challenge, a global research competition focused on financial analysis and professional ethics.
Mentoring Opportunities through the Cutler Center Mentor Program, which matches undergraduate and graduate students with industry professionals from across the world of finance. The 2020–21 program connected 69 student mentees with alumni, friends and faculty member mentors. Additionally, the Center offers Office Hours with BCF Executives in Residence, designed to give finance students the opportunity to speak with industry experts about career guidance, industry trends, interview prep, recommendations for improving skill sets, and more. Alumni Engagement through the Finance Industry Overview, a virtual program featuring interactive discussions between Babson alumni and current students, focusing on the various career paths associated with a finance concentration. Events like Investing for Good, which brought together a local panel of environmental, social and governance (ESG) thought leaders for a discussion on ESG investment integration. As well as Investing with Impact, in conjunction with Global Entrepreneurial Leadership Week, a panel discussion about opportunities for investors who want to make an impact in renewable energy, agriculture, housing and healthcare. Financing the Future: Mission Investing, a series co-hosted by the Lewis Institute, enabled attendees to explore the crucial role of capital in driving social progress, examining questions surrounding what new models mission-based organizations are using to create positive impact.
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BECAUSE OF YOU, WE ARE BABSON.
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Alumni help make Babson who we are. Your support, generosity, and engagement keep our College and our global community strong. In FY21, our alumni stepped up to support Babson, achieving a
31%
PARTICIPATION RATE —significantly higher than the national average of 8%.
Babson alumni
VOLUNTEERED their time and efforts in support of our College a total of
2,172
times this past year.
Our alumni stayed connected through
69
ALUMNI REGIONAL CLUBS AND
50
AFFINITY GROUPS.
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BABSON STREET Babson Street is your one-stop shop for Babson businesses. From handmade chocolate to vacation rentals, you can find everything you need while supporting businesses owned or founded by Babson alumni.
MAKE YOUR MARK During our 2020 Make Your Mark annual day of giving, donors like you helped raise a record-breaking $724,674— including $100,000 from President Stephen Spinelli Jr. MBA’92, PhD and his wife, Carol. This is more than double the amount ever raised during Babson’s annual giving day.
2,358 donors supported Make Your Mark from 41 states and 41 countries. 142 donors became Babson Defenders, supporting our College with recurring gifts. 50 B A B S O N COLLEGE
VIRTUAL ALUMNI CONNECTIONS Although we couldn’t gather in person for much of FY21, our global alumni community stayed connected and learned from experts and one another through Babson virtual events and programs.
Our centers and institutes shared their knowledge with our community in this webinar series, helping us all discover innovative ways to solve challenges during unprecedented times.
This series of panels and keynote speakers enabled our community to learn from experts in a variety of fields from professional sports to healthcare to real estate.
Our annual entrepreneurship summit was held online this past year, bringing together entrepreneurs and thought leaders from around the world to engage with our global community over the course of five days.
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COMMENCEMENT After a year of challenges and constant change, the Babson community honored the graduating classes of 2020 and 2021. Under state COVID-19 guidelines and with the help of our entire community, the graduates gathered together on campus to celebrate their achievements and walk across the commencement stage. We are extraordinarily proud of these resilient and tenacious graduates who we now welcome into the Babson Alumni community.
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BABSON GIVING SOCIETIES
AMPLIFY YOUR IMPACT
Circle of Distinction
Babson Defenders
Our most prestigious giving society, the Circle of Distinction recognizes donors who have committed $1M or more to Babson in their lifetimes. Launched in 2019 with 83 individuals, we were pleased to welcome three new members in FY21.
By setting up a recurring monthly or annual gift, Babson Defenders provide us with support we can count on yearover-year. It also offers the flexibility to spread gifts out in smaller increments.
President’s Society
We are grateful for the over 1,000 Defenders in FY21.
Donors who give an annual gift of $1,919 or more are welcomed into the President’s Society. In FY21, more than 1,300 President’s Society members contributed more than $20 million in support, including over 330 gifts from our BOLD (Beavers of the Last Decade) members.
Matching Gifts
Babson Legacy Society The Babson Legacy Society is comprised of alumni, parents, and friends who have included a gift to Babson in their estate plans. To date, more than 250 donors have made formal estate commitments to the College.
Cornerstone Club The Cornerstone Club recognizes thousands of donors who have made a gift to the College for five or more consecutive years. In FY21 more than 3,000 individuals had given for at least five consecutive years.
Founders Fund Launched by Timothy DeMello ’81, the Founders Fund allows donors to contribute a percentage of their future equity position in their business to the College. At the time of the company’s sale, initial public offering or other liquidity event, the contribution is transferred to Babson. A total of 39 donors have supported the Founders Fund to date.
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Through matching gifts donors can double their impact on our College when an employer matches the donation to an employee’s organization of choice. This past fiscal year, donors who utilized matching gifts raised a total of $183,840 for our College.
Gifts in Kind Many alumni and friends give back to Babson through gifts in kind—contributions of goods or services. 36 donors gave gifts in kind valued at nearly $468,900.
Planned Giving Through planned giving donors can provide a future gift to the College while preparing for their own future. Planned gifts include gifts through wills, estate plans, retirement plans, and more. More than 125 donors have made commitments that exceed $112 million.
“ Babson was a very fulfilling experience for me, and I am certain that I am making a very sound investment by including Babson in my estate plan. I hope that others will do the same. Someday when I pass away, the money will be used for student scholarships. I feel that I am leaving a lasting legacy.” Bob Moore, ’74, MBA’75
BECAUSE OF YOU Because of you, our College has been able to adapt, innovate and thrive this past year. Your commitment has strengthened our community during times of uncertainty, supported our students as they pursued their goals, and enabled Babson to continue to elevate entrepreneurial leadership. Thank you. If you want more information on the programs referenced in this report, or you would like to reconnect with the College, we hope you’ll reach out.
Office of Advancement 231 Forest Street Babson Park, MA 02457 781-239-4800 giving@babson.edu Babson.edu/giving