Morgan Stanley has announced the winners of its 16th Annual Strategy Challenge, a program designed to support nonprofits with strategic consulting. This year, the winning teams assisted Lower Manhattan Cultural Council (LMCC) in the United States and The Outward Bound Trust in the United Kingdom.
Over ten weeks, Morgan Stanley employees provided over 11,000 hours of pro bono consulting to 14 nonprofit organizations. These efforts culminated in events held in New York and London, where participants presented their findings and recommendations to experts and senior leaders at Morgan Stanley.
Joan Steinberg, Global Head of Philanthropy at Morgan Stanley and President of the Morgan Stanley Foundation, stated: “The Strategy Challenge demonstrates the power of our integrated firm as employees across Morgan Stanley collaborate to help nonprofits address key organizational questions.”
In the U.S., LMCC benefited from an analysis by Morgan Stanley on whether it should adopt a fee-based model for its artist residency programs due to rising property costs and decreased funding. Moe Yousuf, Interim President and CEO of LMCC, expressed gratitude for the initiative: “It might sound hyperbolic, but the Strategy Challenge really was a once-in-a-lifetime chance for our organization.”
In the UK, The Outward Bound Trust received assistance in evaluating potential site acquisitions to meet growing demand. Alan Bolchover from The Outward Bound Trust remarked: “Through curiosity, diligence and a shared spirit of adventure, the Morgan Stanley team has equipped us with tools and advice.”
The program served various other nonprofits including The Acceleration Project, Action for Children, Amal Alliance among others.