Georgetown University McDonough School Holds Auction to Fund MBA Internships at Nonprofits

February 19, 2004

                                                                                                                                              
Georgetown University McDonough School Holds Auction to Fund MBA Internships at Nonprofits

A week's stay at a vacation home in Puerto Vallarta. Dinner for three with MCI's Executive Vice President of Ethics and Business Conduct. A round of golf at Beacon Hill Golf Club. Four sessions for your pooch with a trained Washington Animal Rescue League dog walker.

These and many other items are up for bid at the first Nonprofit Internship Fund Auction at the McDonough School of Business on Friday, February 20 at 8:30 p.m. in Copley Formal Lounge on the Georgetown campus. The Nonprofit Internship Fund, established four years ago, provides stipends of $3,000 to Georgetown MBA students who spend the summer between their first and second year of the program working for nonprofit organizations in Washington, D.C. and elsewhere around the world that lack funding for internship salaries.

The student-run event will feature food, drinks and live music performed by an MBA student band. The school plans to hold the auction annually. The event organizers, first-year MBA students Andy M. Furrow and Tania M. Galarza, hope that the auction becomes an important new tradition for the school that brings together faculty, staff, students and alumni.

Seth H. Petchers, a second-year MBA/MPP candidate and beneficiary of the fund, worked for Chocolate Matters, a nonprofit that helps find new business opportunities for small cocoa farmers in Ghana and other parts of the developing world. Petchers wrote a market opportunity assessment for cocoa products in the United States and has used his experience to get involved with a cocoa-related project at the World Bank. "Chocolate Matters had a very exciting project that provided me with an incredible opportunity that would have been difficult to reproduce elsewhere," said Petchers, who hopes to work in the nonprofit or for-profit community after graduation to help create new markets for agricultural producers.

While the Nonprofit Internship Fund is in its fourth year, the auction is the school's first attempt to increase the fund's endowment. Since it was established in 2001, the fund has subsidized summer internships in the nonprofit and public sector for 12 students. The school hopes the auction will raise enough money to fund an additional internship stipend for the summer of 2004.

"Georgetown, because of its commitment to social justice, attracts MBA students with a strong commitment to business ethics, corporate social responsibility and community involvement," said Associate Dean and MBA Program Director Marilyn A. Morgan. "The Nonprofit Internship Fund is one way we can help those students bring their business leadership skills to benefit the nonprofit and public sectors. It speaks to the essence of what Georgetown stands for."

The Fund complements the school's academic courses in business ethics, socially responsible investing, social responsibility of business, community reinvestment, and social marketing; an active chapter of Net Impact; and the Georgetown Business Ethics Institute.

Tickets for the Friday auction are $10 per person. Contact Andy Furrow at rmf9@georgetown.edu or (202) 230-4257 for tickets and information.

About Georgetown University
Georgetown University is the oldest Catholic and Jesuit university in America, founded in 1789 by Archbishop John Carroll. Georgetown today is a major student-centered, international, research university offering respected undergraduate, graduate and professional programs on its three campuses. For more information about Georgetown University, visit www.georgetown.edu.