Your Story Our Story 2 17 09


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A look at ourselves, our stories and the next generation of young entrepreneurs and business leaders...

Founded in 1987 by Steve Mariotti, a former business owner and New York City public high school teacher, the mission of NFTE is to provide entrepreneurship education programs to youth from low-income communities. Our vision is that every young person will find a pathway to prosperity. As a math teacher in the South Bronx, Mariotti first established NFTE as a literacy and dropout prevention program for at-risk youth when he noticed that many of his students who could not read or write and had essentially been “written off” by the system, demonstrated a natural talent for entrepreneurship. Further, he discovered that his “troubled” students had skills that, if fostered, could benefit them in business and in life. These insights led him to formalize an entrepreneurship curriculum and establish NFTE as a way to introduce concepts of wealth creation and ownership to low-income young people worldwide.

NFTE uses entrepreneurship as a vehicle to engage students in school, expose them to the market economy and help them to create an entrepreneurial mindset in order to remain competitive in the increasingly global marketplace. NFTE believes that schools must provide students with opportunities outside the classroom to realize their academic, social, and economic potential. By fostering learning connected to student interests and to life outside the school, NFTE provides students with tools for future success.

This slidedeck is Steve's story, you might see some of your own families' story here, and much about the hopes and aspirations we all have for the next generation.

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Your Story Our Story 2 17 09

  2. 2. We’ve all arrived here through different means…
  3. 3. “ I was born in the US and am a third generation…”
  4. 4. “… my grandparents came to this country on a boat …”
  5. 5. “… my father escaped here when he was 18…”
  6. 6. “… my great grandmother left her brothers and sisters to come here …”
  7. 7. “ I was the first in my family to…”
  8. 8. But the reasons for living here have always been the same
  9. 9. ‘ Life, liberty and the pursuit of happiness’ for all... …
  10. 10. For our nation’s youth to get a good education …
  11. 11. To have opportunities our families didn’t have
  12. 12. Our families made sacrifices …
  13. 13. They saved … They built futures…
  14. 14. Sound familiar ?
  15. 15. We all have a story of how we became who we are…
  16. 16. This is His -story --- a traumatic experience that ignited a movement
  17. 17. One day a man who owned a business was beaten on the street for $10
  18. 18. He lay in his hospital bed and wondered
  19. 19. Why such violence over a few dollars …?
  20. 20. He decided not to live in fear … but to find answers by visiting classrooms in tough schools
  21. 21. He soon discovered kids in public schools were not learning basic skills
  22. 22. … not learning how to make it in the economy
  23. 23. He felt he could reach these young people…
  24. 24. He sold his company
  25. 25. Became a public school teacher in the South Bronx
  26. 26. His students would ask him how he made money before teaching?
  27. 27. He shared how he imported shoes for $5.00 a pair --
  28. 28. and sold them to wholesalers for a gross profit of $3
  29. 29. Two of his students, Josephine R. and Edwin B., wondered if they could start businesses too?
  30. 30. Steve Mariotti…their teacher , realized that somehow learning to make money
  31. 31. Engaged his students in school more than anything else he taught
  32. 32. He built an 80- hour program to teach his students what he knew about owning a business
  33. 33. The curriculum also improved reading, writing, math, and public speaking skills
  34. 34. All based around real-world business knowledge
  35. 35. Steve decided each student could start their own business to learn concepts of “ownership” and financial literacy
  36. 36. He gave each student $50 each to ‘buy low’ at NY wholesale district and ‘sell high’
  37. 37. All of Steve’s students became Presidents of their own companies that year (Josephine made 10k selling clothes)
  38. 38. … and began their entrepreneurial stories with a new self-perception and a feeling of new-found freedom
  39. 39. Steve went on to found The National Foundation for Teaching Entrepreneurship (WWW.NFTE.COM)
  40. 40. He started with 18 youth in the South Bronx
  41. 41. TO DATE 220,000 youth in 13 countries have gone through NFTE’s program to date
  42. 42. Studies from Harvard and Brandeis on NFTE show that students are more engaged in school, read more independently and have a significantly higher desire to go to college
  43. 43. On a recent Gallop poll 9:10 high school students said they wanted to start their own business
  44. 44. In a time when 1:3 youth drop out of high school and often feel disengaged
  45. 45. Shouldn’t we be teaching our children the AMER- I-CAN Dream!
  46. 46. “ My Dream is not to Die in Poverty, but have Poverty Die in Me!” - NFTE graduate Michelle A.
  47. 47. Vision NFTE envisions a nation where every young person will find a pathway to prosperity.
  48. 48. What stories will these young people tell their children one day? “ freedom” “ ownership” “ education” “ proud” “ college”
  49. 49. NFTE Success Stories <ul><li>At eleven years old, Jasmine Lawrence had desperate thoughts of creating her own natural hair-care products. After using a relaxer, the chemicals caused 90% of her hair to fall out. It was at that moment that Jasmine vowed never to use chemical products again. She had researched natural hair-care products online, but realized that these products were not ‘natural’ at all. </li></ul><ul><li> “ That’s when I decided to create my own,” adding, “I wanted to do this for a living and want to share it with the world.” With the help of NFTE, Jasmine started her own business, EDEN Body Works after attending an entrepreneurship program at New York University. With NFTE’s support, Jasmine created an all natural line of hair-care products including shampoo, conditioner, hair oil, temple balm, hair milk and hair wipes. Today, Jasmine’s products bring in over $100,000 per year. </li></ul>Jasmine Lawrence, Williamstown, New Jersey Williamstown High School, Sophomore Pictured on the Oprah Show
  50. 50. NFTE Success Stories <ul><li>When he was 17, Malik’s high school guidance counselor suggested that he take the first NFTE entrepreneurship course that was being offered at the University of Pennsylvania’s Wharton School. Malik began bringing a book bag filled with soda and snacks to school and selling them during lunch breaks. Malik went on to attend Morehouse College in Atlanta, where he studied finance and sold hand-painted T-shirts and jeans to help pay for his education. After graduating, he landed a great job on Wall Street with Morgan Stanley. </li></ul><ul><li>But Malik dreamed of being his own boss. He saved his money for a few years until he had enough to open up a small soul food take-out restaurant on Myrtle Avenue in Brooklyn. “In those days, Myrtle Avenue was often called ‘murder avenue,’” Malik says. But that didn’t stop him from buying the property he was renting for the restaurant, as well as two other properties on the block. Today, Malik’s Five Spot restaurant is a 2,500 square foot supper club that serves up great soul food and music six nights a week. The restaurant, which Malik runs with his wife and partner Kim, employees over two dozen people from the community who are trained to learn the business from the ground up. </li></ul>Malik Armstead Five Spot Restaurant , Brooklyn, New York Malik Armstead pictured with Alan Appelbaum & Joan Rosen at 7 th Annual BAF mentor meeting at Malik’s Five Spot Restaurant
  51. 51. WHAT WE DO - OUR IMPACT- OUR LOCATIONS- GETTING INVOLVED- Prepared by Julie Kantor, VP Government Affairs [email_address] and Amy Rosen, NFTE CEO and Dusty Kluttz. Photos courtesy of
  52. 52. Organizational Snapshot <ul><li>Students </li></ul><ul><ul><li>Target Population: young people from low-income communities, ages 11 – 18 </li></ul></ul><ul><ul><li>230,000 youth served since 1987 </li></ul></ul><ul><ul><li>FY 2008 Actual: 44,679 students (25% increase over FY07) </li></ul></ul><ul><ul><li>FY 2009 Goal: 48,524 students (9% increase over FY08) </li></ul></ul><ul><li>Teachers </li></ul><ul><ul><li>FY 2008 Actual: 806 trained; 1,313 active </li></ul></ul><ul><ul><li>FY 2009 Goal: Train 384 new teachers; retain active corps of 1,531 teachers </li></ul></ul><ul><li>Curriculum </li></ul><ul><ul><li>Pearson Prentice Hall Partnership: 3 books to be published in 2009 and 2010 </li></ul></ul><ul><li>Operations & Financial Information </li></ul><ul><ul><li>11 domestic program offices </li></ul></ul><ul><ul><li>Active programs in 21 states and 11 countries </li></ul></ul><ul><ul><li>FY 2009 budget is $18.5M; FY 2008 actual was $19.1M </li></ul></ul>