BOSTON - Oct. 31, 2007 - At a private reception on Monday, October 22, the Harvard Business School Club of Greater New York (HBSCNY) (www.hbscny.org) announced a donation of more than $1 million to five New York City-area nonprofits and the HBS fellowship funds. These gifts mark the largest donation ever given by HBSCNY and illustrate the tremendous impact Harvard Business School graduates have on their local communities.

Held at the Harvard Club, the event was the kickoff of Harvard Business School's efforts in New York City to celebrate its year-long centennial anniversary. As part of this program, HBSCNY will award $180,000 to each of the following education-focused non-profits:

• PENCIL - a creator of school-based partnerships between business leaders and New York City public schools
• Village Academies - a network of college preparatory public schools based in Harlem
• Harlem Educational Activities Fund (HEAF) - a provider of private resources and support to enhance school effectiveness and student outcomes in Harlem
• Studio in a School - a creator of in-depth visual arts education programs, led by professional artists, for children in New York City public schools and community centers
• ArtsConnection - a provider of programming in the performing, visual, literary, and media arts to New York City public schools.

"HBSCNY's continued dedication to supporting nonprofit organizations plays an integral role in the growth of our community," said Bennett Goodman (MBA 1984/D), senior managing partner of GSO Capital Partners. "Our students and communities need nonprofit educational resources like these to be competitive in tomorrow's business world."
In addition, HBSCNY will provide $200,000 in need-based fellowships to Harvard MBA students and two full scholarships to the Strategic Perspectives in Nonprofit Management program at Harvard Business School. This HBS executive education program provides nonprofit leaders a forum for examining their goals and missions and realigning them for better implementation and greater organizational success.

"This extraordinary gift from the HBSCNY to Harvard Business School is unprecedented and continues the club's longstanding tradition of providing direct support for MBA students from the Greater New York area," commented Stephanie Goff, senior director for alumni relations at HBS. "Fellowships are a key priority at HBS because they ensure that the School attracts and enrolls the most talented students, regardless of their financial circumstances."
Presenting the gifts were HBSCNY's president, Bruce Marcus (MBA 1980/E), and board members Elena Crespo (MBA 1993/A), senior vice president of Citigroup and former club president, and Jeanette Wagner (AMP 1983), vice chairman emerita of The Estée Lauder Companies Inc. The chairman of the HBSCNY board is Michael J. Johnston (MBA 1962/A), executive vice president of the Capital Group Companies, Inc.

About HBSCNY
With more than 13,000 members, the Harvard Business School Club of Greater New York (HBSCNY) is the largest Harvard Business School alumni club in the world. In addition to providing HBS with fellowships and scholarships, the club maintains a dedication to community service by giving alumni opportunities to leverage their leadership and management skills for nonprofits and provide these organizations with pro bono consulting and business advice. The club also maintains 35 active volunteers who are committed to assisting over a dozen nonprofit organizations. In addition, the club offers more than 60 events annually to further the education and social networking of its alumni base.