On Giving

The end of the year is a natural time for reflection. It’s also, for many of us, a time for giving. It’s no accident these go hand in hand. When I look back on 2017, I see many things for which I’m grateful – the health of my family and my friends, the opportunity to pursue meaningful work, the connections and conversations I have with great colleagues. That said, I’m also reminded of the many ways in which this world of ours must still improve. And so, to the best of my ability, I try to give to those organizations that are creating change, by broadening access to quality education, healthcare and the arts.

This year, my giving has been particularly informed by advice I received from some of my younger colleagues. As part of the second-annual Goldman Sachs Gives Analyst Impact Fund competition, I had the pleasure of hearing six extremely compelling presentations on innovative nonprofits. To say I was impressed by the poise, clarity and passion from each of the six global teams would be an understatement. This group of analysts broadened my understanding on several issues that I thought I knew quite well. And their ability to turn their own energy into effective advocacy makes me optimistic that our firm is in good hands. 

The nominated organizations are each addressing pressing challenges being faced in society, helping to bring opportunity to vulnerable and underserved populations. Samasource is connecting communities in need to digital work; APOPO is training rats to help remove landmines safely; Project Concern International is building analytics resources for farmers in developing countries; Educate Girls is helping to prepare the next generation of world leaders; and Kiron is using education and technology to help solve the refugee crisis. 

These are extraordinary groups tackling huge issues. As you think about your own end-of-year giving, I think any one (or all!) of them would make a brilliant, compassionate choice. But I do want to highlight one organization in particular. 

One of the teams pitched the Bronx Freedom Fund, which pays bail for New Yorkers accused of low-level, nonviolent offenses. The idea of paying someone’s bail may seem unorthodox to many readers. But as our analysts showed, when defendants can't pay bail, they overwhelmingly plead guilty - even if they're innocent. 92% of defendants who can’t pay bail plead guilty, likely leaving jail with a criminal record and lifelong consequences. But when the Bronx Freedom Fund steps in, nearly 95% of defendants either see their charges dismissed outright or reduced to a violation no more serious than a traffic ticket. Results like these show that for poor New Yorkers, guilt, innocence - and, ultimately, opportunity – depend on just a few hundred dollars for bail. Bail’s enormous importance in determining outcomes in our criminal justice system deepens economic inequality and racial injustice, and it’s a key reason why the United States incarcerates more people than any other country on earth.

This past November, the Bronx Freedom Fund announced it would be expanding its unique program nationwide with The Bail Project; I was thrilled to see them take a well-deserved third place in the Goldman Sachs Gives competition. But ultimately, one organization doing great work is not going to be enough. This year has reminded us that some of the oldest, most repugnant forces in this world remain alive and well: racism, misogyny, hatred. We all need to educate ourselves about these types of issues and the effect they’re having on our communities. And for those of us who wish to be seen as leaders, we must demonstrate our values through our actions.

One such action is to give. The amount does not matter; every contribution counts. It can also come in the form of your time, or your talent. Even just spreading the word. Doing good takes many forms.

For those interested in more on the Analyst Impact Fund, here’s a great video on the teams in action. And, here were the results of the competition: 

The winners

1st: Kiron Open Education | $150,000 from Goldman Sachs Gives

Kiron connects refugees from around the world with higher education programs.

 2nd: Educate Girls | $75,000

Educate Girls helps educate women in India and to break down social stereotypes.

 3rd: Bronx Freedom Fund | $50,000

Bronx Freedom Fund helps pay bail for poor defendants and works toward broader bail reform.

 Finalist: APOPO | $25,000

APOPO trains rats to detect mines and help diagnose tuberculosis.

 Finalist: Project Concern International | $25,000

PCI improves health and creates long-term change by helping people help themselves.

 Finalist: Samasource | $25,000

Samasource reduces global poverty by outsourcing digital work to the unemployed in the US and impoverished countries