Release: iMentor and Morgan Stanley Announce Commitment to Expand the Mentor Pledge at Clinton Global Initiative America Meeting
Mentor Pledge includes 10 companies that have committed to recruiting 100 employees to mentor high school students in New York City’s low-income communities
New York, NY and Chicago, IL (June 7, 2012) – Today, at the Clinton Global Initiative America (CGI America) meeting, iMentor and Morgan Stanley announced a Commitment to Action to expand the Mentor Pledge by doubling the number of Morgan Stanley employees who volunteer with iMentor.
iMentor launched the Mentor Pledge this January in partnership with 10 corporations to recruit 100 of their employees to be mentors for high school students in low-income communities throughout New York City. Morgan Stanley, one of iMentor’s longest-standing corporate supporters, will double its mentor pledge from 100 to 200 mentors as part of the company’s dedication to skills-based volunteering, which leverages the professional expertise and backgrounds of its employees to deliver high-impact results in the community.
iMentor, a leading New York City-based youth mentoring organization, created the Mentor Pledge with Accenture, Barclays Capital, Bloomberg LP, Citi, Deutsche Bank, Ernst & Young LLP, Goldman Sachs, Marsh & McLennan Companies, Morgan Stanley and UBS. These companies not only support iMentor with valuable volunteers but also provide a financial commitment to the Mentor Pledge program, which New York City Mayor Michael R. Bloomberg highlighted in his 2012 State of the City address.
The commitment of these companies will allow iMentor to expand its programs to meet its goal of serving 2,400 students in New York City in 2013. The mentors will help students navigate the college application and financial aid processes and build key competencies linked to college success. iMentor provides expertise and assistance to its corporate partners through mentor recruitment and training efforts in collaboration with each of the 10 pledge companies.
“The visionary leadership of Morgan Stanley and the other companies in the Mentor Pledge is absolutely vital to expanding the work we do to support students from low-income communities on their path to college success,” said iMentor CEO Mike O’Brien. “We are excited to participate in CGI America and expand upon iMentor’s mission with a group of extraordinary leaders who are all working to connect youth with education and employment opportunities.”
Said Joan Steinberg, Head of Community Affairs at Morgan Stanley: “We are proud to have helped iMentor get its start more than a decade ago. Then, as now, our employees have embraced the opportunity to share key skills with New York City students, positioning these young people for greater academic and professional success. We’re pleased to be deepening our relationship with iMentor, which is a past winner of the Morgan Stanley Strategy Challenge in recognition of their innovative technology-enabled mentoring.”
iMentor matches Mentor Pledge company employees with students from partner schools in one-to-one mentoring relationships that last up to four years. iMentor supports all mentor-mentee pairs as they work through iMentor’s college-readiness curriculum and also provides mentors with ongoing training, networking events, and coaching from iMentor staff.
Improved college-readiness for students in public schools is vital to supporting young people as they enter the 21st-century workforce. It is estimated that by 2018, 63 percent of all domestic jobs will require at least some college education. Yet in 2011, New York State reported that only 37 percent of all students graduated high school college-ready, including only 13 percent of African American and 15 percent of Latino students. With a national average student-to-college counselor ratio of nearly 450-to-1, schools need mentors to help provide the individualized support low-income students need.
iMentor has matched more than 7,000 youth in New York City with mentors since 1999, and the results have been impressive. Independent evaluations of iMentor have shown that participation in the program has a statistically significant impact on student attendance levels, grades and standardized test scores. In 2011, 83 percent of iMentor’s students graduated from high school and 67 percent of mentees enrolled in college.
Additionally at CGI America - which brings together hundreds of leaders from business, government, and nonprofit sectors to devise real and effective solutions for economic recovery and job creation in the United States – iMentor CEO Mike O’Brien will lead a discussion on how cross-sector partnerships can further mentoring across the country to help more students gain access to higher education and jobs.
iMentor leverages the power of mentoring to help youth in low-income communities graduate high school college-ready and succeed in college. Students and mentors work one-on-one through iMentor’s online and in-person curriculum to navigate the college application process and build critical skills linked to high school and college success.
In New York City, iMentor partners with public schools to ensure every student in the school receives a mentor. Since 1999, iMentor has connected 7,000 students in New York City with mentors, and is serving more than 1,800 mentor-mentee pairs this year. iMentor also provides its curriculum, technology, and best practices to more than 30 nonprofits in 20 states to help them run effective mentoring programs in the iMentor model. iMentor’s work has been recognized through funding by leading institutions such as the Bill & Melinda Gates Foundation, the Lumina Foundation, New Profit, and the Robin Hood Foundation, and is a subgrantee of the federal Social Innovation Fund. www.imentor.org
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
About the Clinton Global Initiative (CGI)
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges. CGI Annual Meetings have brought together more than 150 heads of state, 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and NGOs, major philanthropists, and members of the media. To date CGI members have made more than 2,100 commitments, which are already improving the lives of nearly 400 million people in more than 180 countries. When fully funded and implemented, these commitments will be valued at $69.2 billion.
CGI’s Annual Meeting is held each September in New York City. CGI also convenes CGI America, a meeting focused on collaborative solutions to economic recovery in the United States, and CGI University (CGI U), which brings together undergraduate and graduate students to address pressing challenges in their community or around the world. For more information, visit clintonglobalinitiative.org and follow us on Twitter @ClintonGlobal and Facebook at facebook.com/clintonglobalinitiative.
About CGI America
President Clinton established the Clinton Global Initiative America (CGI America) to address economic recovery in the United States. CGI America brings together leaders in business, government, and civil society to generate and implement commitments to create jobs, stimulate economic growth, foster innovation, and support workforce development in the United States. Since its first meeting in June 2011, CGI America participants have made more than 100 commitments valued at $11.8 billion. When fully funded and implemented, these commitments will improve the lives of three million people, create or fill more than 150,000 jobs, and invest and loan $354 million to small and medium enterprises in the United States. The 2012 CGI America meeting will take place June 7-8 in Chicago. To learn more, visit www.cgiamerica.org.
 New York State Education Department: http://www.p12.nysed.gov/irs/pressRelease/20110614/home.html
 College Board Advocacy & Policy Center: http://completionagenda.collegeboard.org/student-counselor-ratio