Fast Company and Monitor Inaugurate Social Capitalist Awards

Using Business Excellence to Engineer Social Change

New York, NY (December 17, 2003) – Fast Company magazine, in partnership with global consulting firm the Monitor Group, has announced its inaugural Social Capitalist Awards, which identifies 20 organizations that use entrepreneurial genius to solve some of the world’s most daunting social problems. Winners will be featured in the January issue of Fast Company, on newsstands December 23.

The Fast Company/Monitor Social Capitalist Awards are the first of their kind—quantitatively measuring a group’s innovation and social impact, as well as the viability and sustainability of its business model. From helping poor kids attend college and making health care available to those in destitute corners of the world, to finding a voice for the victims of human rights abuses and financing underprivileged business owners—the award winners are as diverse as they are groundbreaking.

“Around the holidays, so much attention is focused on philanthropy and charitable organizations, and rightfully so,” said Fast Company editor-in-chief John Byrne. “But there’s a void when it comes to recognizing the intersection of business excellence and social change. The Social Capitalist Award winners are beacons of success and accountability—only they’re not working to make money for shareholders or personal gain—they’re working to make the world a better place.”

"These remarkable organizations are taking on today's most important social issues," said Monitor Group CEO Mark B. Fuller. "Equally important, by operating successfully at the frontiers of management, they have much to teach more traditional corporations about translating moral vision into action."

Fast Company/Monitor’s 2004 Social Capitalist Award Winners, in alphabetical order:

1. Aspire Public Schools, Redwood City, CA: Charter school management group seeking to transform the American school system.
2. Acción International, Boston, MA: Pioneered use of small loans to seed tiny businesses.
3. Benetech, Palo Alto, CA: An eclectic technology conglomerate catering to the disadvantaged.
4. Benhaven, North Haven, CT: Created a model program to put kids with autism in regular classrooms.
5. Center for Community Self-Help, Durham, NC: Provides start-up capital for aspiring business owners who are underprivileged.
6. Citizen Schools, Boston, MA: Offers after-school programs designed to teach children skills that aren’t part of their regular curriculum.
7. City Year, Boston, MA: Recruits diverse young people to devote a year to community service in exchange for an educational stipend.
8. College Summit, Washington, DC: Works with schools and colleges to help low-income students go on to higher education.
9. First Book, Washington, DC: Enables disadvantaged children to own their first book.
10. Jumpstart, Boston, MA: Pairs college students with 3-to-5 year-olds who need help with reading and social skills.
11. KABOOM!, Washington, DC: Works in low-income neighborhoods to create play spaces for children.
12. Microbusiness Development Corp. (MBD), Denver, CO: In addition to helping youths, MBD provides loans and training to minority and low-income Denver entrepreneurs.
13. New Leaders for New Schools, New York, NY: Recruits would-be principals to undergo extensive leadership training.
14. New Schools Venture Fund, San Francisco, CA: Venture capital firm that finances education projects.
15. Program for Appropriate Technology in Health (PATH), Seattle, WA: Adapts existing medical tools to the financial and cultural realities of developing nations.
16. Room to Read, San Francisco, CA: Promotes literacy and education in Asia by providing scholarships and building schools and libraries.
17. Rubicon Programs Inc., Richmond, CA: Provides livable wage employment and job training to the homeless and mentally ill.
18. Share Our Strength, Washington, DC: Distributes money to hunger-fighting causes through programs like its renowned Charge Against Hunger.
19. Witness, New York, NY: Founded by musician Peter Gabriel, Witness gives a voice to victims by obtaining and archiving videotapes of human-rights transgressions.
20. Working Today, Brooklyn, NY: Advocates and provides benefits for diverse groups of mobile freelance workers.

How the Winners Were Chosen

Fast Company, in partnership with the Monitor Group, chose the inaugural Social Capitalist Award winners from a pool of 80 organizations, nominated by a panel of prominent funders, academics and other experts. Each participating organization submitted to a rigorous screening process requiring financial records, business plans, references, and online surveys. Groups were given a numerical grade in five distinct categories: Entrepreneurship, Innovation, Social Impact, Aspiration and Sustainability. Final letter 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/keyword/social78.