Press Releases

Fast Company and Monitor Announce Second Annual Social Capitalist Awards

New York, NY (December 2, 2004) – Fast Company magazine, in partnership with global consulting firm the Monitor Group, has announced its second annual Social Capitalist Awards, which identifies 25 organizations that are using creativity, business smarts, and hard work to invent a brighter future. These dynamic organizations are the Googles, Amazons, and Microsofts of the social sector: They invent technologies to serve the poor and build groundbreaking products that serve market needs in developing nations. They devise ingenious ways to do well and do good. Winners will be featured in the January issue of Fast Company, on newsstands December 21.

The Fast Company/Monitor Social Capitalist Awards is the only award program that quantitatively measures a non-profit group’s innovation and social impact, as well as the viability and sustainability of its business model. From helping underprivileged children attend college and making health care available to those in destitute corners of the world, to rectifying third world labor abuses and financing underprivileged business owners—this year’s award winners are as diverse as they are groundbreaking.

“The Social Capitalist Award winners represent a global movement of entrepreneurs who’ve chosen to apply their skills to the common good,” said Fast Company editor-in-chief John Byrne. “In the meantime, they’re redefining what it means to be a ‘successful business,’ and are proving, without question, that the goals of altruism can jibe with the means of capitalism.”

“Whatever our professions, we are all citizens, and we all care deeply about unmet social needs—which is precisely where social entrepreneurs make their essential contribution," said Monitor Group CEO Mark B. Fuller. "But good intentions are not enough. The Social Capitalists are so special because they translate that vision into action, and meet the harsh market standards of performance and accountability.”

Fast Company/Monitor’s 2005 Social Capitalist Award Winners, in alphabetical order:

*Denotes Repeat Winner

1) *Acción International, Boston, MA: Pioneered use of small loans to seed tiny businesses and lifts families out of poverty.

2) ApproTEC, San Francisco, CA: Produces easy-to-use tools for developing-world farmers to help them increase earnings ten-fold.

3) *Aspire Public Schools, Redwood City, CA: Charter school management group building a system to transform American education.

4) *City Year, Boston, MA: Recruits diverse young people to devote a year to community service in exchange for an educational stipend.

5) *College Summit, Washington, DC: Works with schools and colleges to help low-income students go on to higher education.

6) Earn, San Francisco, CA: Provides financial counseling and matching funds to help poor people open savings accounts.

7) Endeavor Global, New York, NY: Global venture catalyst scouts out entrepreneurs in emerging economies.

8) *First Book, Washington, DC: Enables disadvantaged children to own their first book.

9) Grameen Foundation USA, Washington, DC: Provides microlending institutions with
financial and technical resources to increase efficiency and expand outreach to the poor.

10) Housing Partnership Network, Boston, MA: An ambitious group of 80 nonprofit housing groups that decided to pool skills, money, and policy influence.

11) *Jumpstart, Boston, MA: Pairs college students with 3-to-5 year-olds who need help with reading and social skills.

12) *New Leaders for New Schools, New York, NY: Recruits would-be principals to undergo extensive leadership training.

13) *Program for Appropriate Technology in Health (PATH), Seattle, WA: Invents medical tools that save lives in developing nations.

14) Rare, Arlington, VA: Leader of radio-based environmental advocacy in developing nations.

15) *Room to Read, San Francisco, CA: Promotes literacy and education in Asia by providing scholarships and building schools and libraries.

16) *Rubicon Programs Inc., Richmond, CA: Provides livable wage employment and job training to the homeless and mentally ill.

17) SEED Foundation, New York, NY: Builds public boarding schools in urban areas.

18) Scojo Foundation, New York, NY: Makes affordable eyewear available to the 1.6 billion people whose decline in eyesight as they age prevents them from reading and sometimes costs them work.

19) Social Venture Partners, Seattle, WA: Introduces philanthropic newcomers to the world of civic engagement.

20) Springboard Forward, Mountain View, CA: Provides on-the-job coaching to low-wage workers to help them out of the poverty cycle.

21) TransFair USA, Oakland, CA: Allows farmers in developing countries to sell crops for a livable wage by giving them collective bargaining power.

22) Vera Institute of Justice, New York, NY: Works toward justice by incubating programs to serve those entangled in the justice system.

23) Verité, Amherst, MA: Conducts factory audits for major corporations to ensure quality working conditions for foreign workers.

24) *Witness, New York, NY: Founded by musician Peter Gabriel, Witness gives a voice to victims by obtaining and archiving videotapes of human-rights transgressions.

25) Year Up, Boston, MA: Provides job training for low-income, high-school educated 18-to-24 year olds.

How the Winners Were Chosen
Fast Company, in partnership with the Monitor Group, chose the second annual Social Capitalist Award winners from a pool of 118 organizations, half of them nominated by a panel of prominent funders, academics and other experts, and the rest self-nominated. Each participating organization submitted to a rigorous screening process requiring financial records, business plans, and online surveys. Groups were graded in five distinct categories: Entrepreneurship, Innovation, Social Impact, Aspiration and Sustainability. Final grades included adjustments based on structured telephone interviews with each group's executive director and with independent experts qualified to speak about each organization. To learn more about the Fast Company/Monitor Social Capitalist Awards, or to donate money to one of the award winners, visit www.fastcompany.com/social. .
About Fast Company: Founded in 1996 and published monthly, Fast Company (www.fastcompany.com) covers ideas, trends and individuals devoted to managing change in today’s economy. The magazine was acquired in 2000 by Gruner + Jahr USA, one of America’s largest magazine publishers.

About Monitor Group
Monitor Group, a family of strategy, advisory, and merchant banking firms linked by shared knowledge, skills, and experience—is dedicated to enhancing both the competitiveness of its clients and the practical realization of their animating moral purpose.

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For more information, or to schedule an interview with Fast Company Editor-in-Chief John Byrne or Deputy Editor Keith Hammonds, please contact Ryan Clancy, The Rosen Group, 212.255.8455 ext. 22.

CONTACT:
Diane Stefani 212.255.8455 ext. 27 or
Ryan Clancy 212.255.8455 ext.22