Forté 2017 Year-End Report

TOGETHER, WE RISE. FORTÉ 2017 YEAR-END REPORT

LETTER FROM OUR LEADERSHIP

Dear Friends and Supporters,

As we look back at 2017, we are sure you will agree, it was an extraordinary year for women.

More than any time in recent memory, women were at the forefront of the national dialogue in 2017.

Through conversations about fair and equal pay, respectful and honorable treatment, or reaching leadership parity with men, there was a seismic shift in gender culture in 2017. This shift was largely the result of women who fearlessly spoke out about their experiences and were unafraid to expose the truth in a way that had never been done before.

The Reverend Martin Luther King, Jr., once said that “darkness cannot drive out darkness; only light can do that.” Challenges women have faced for years have been brought out into the light, and it’s in this light where change can occur.

When Forté was incorporated 15 years ago, we saw our mission – to prepare women for business careers – as a catalyst for change in the world of business. In 2017, with your support, we made tremendous progress: • • • •

37.4% women’s enrollment achieved in full-time MBA programs; up from 28% in 2003 1,366 women were awarded Forté Fellowships; up from 33 in 2003 $142 million plus in Forté Fellowship Scholarships awarded over the past 15 years Forté’s membership reached 100,000 women in 2017

What we could not have predicted 15 years ago was that our mission would broaden to become one that inspires women to change the world. Beyond the numbers, we’re seeing a remarkable revolution on campuses and in workplaces. Employees, companies, schools, students and you – our donors and champions of gender equity – are coming together to give rise to more inclusive cultures, and reconsider the roles business schools and corporations need to play to be catalysts for change.

Read on for more details about Forté’s remarkable impact in 2017. With your help, we can build on the momentum of 2017 and continue to help women change the world in 2018.

Elissa Sangster

Elizabeth Philipp

Executive Director Forté Foundation

Chair Forté Foundation Board of Directors

Forté Celebrates 15 Years of Ad RESEARCH RESEARCH STUDY STUDY “WOMEN “WOMEN & THE MBA: & THE MBA: GATEWAY GATEWAY TO TO OPPORTUNITY” OPPORTUNITY”

20002000

ARTICLES ARTICLES OF INCORPORATION OF INCORPORATION AND FIRST ANDFORTÉ FIRSTFORUMS FORTÉ FORUMS HOSTEDHOSTED IN 5 U.S.INCITIES 5 U.S. CITIES

20012001

20022002

FIRST BOARD FIRST BOARD MEETING; MEETING; 28% WOMEN 28% WOMEN IN IN TOP B-SCHOOLS TOP B-SCHOOLS

20042004

WALL STREET WALL STREET JOURNAL JOURNAL FEATURES FEATURES FORTÉ FORTÉ

20052005

FORTÉ HIRES FORTÉEXECUTIVE HIRES EXECUTIVE DIRECTOR, DIRECTOR, HOSTS FIRST HOSTS FIRST MBA CONFERENCE MBA CONFERENCE

FORTÉ PROGR W WOM

20062006

2

FORTÉ REACHES FORTÉ REACHES $1 MILLION $1 MILLION IN IN REVENUE REVENUE AND HAS AND HAS SIX FULL-TIME SIX FULL-TIME STAFF STAFF

Advancing Women In Business FORTÉ FELLOWSHIP PROGRAM STARTS WITH 60 WOMEN MBAS

FORTÉ SECURES 100+ CORPORATE, B-SCHOOL AND UNDERGRADUATE SPONSORS

FEMALE BUSINESS SCHOOL ENROLLMENT REACHES 37.4%

FORTÉ INTRODUCES RISING STARS FOR UNDERGRADS

2007

2013

MBALAUNCH PROGRAM BEGINS: HELPING WOMEN B-SCHOOL CANDIDATES

2015

2016

FORTÉ LAUNCHES MEN AS ALLIES

2017

TODAY

21 EMPLOYEES, $4.5 MILLION REVENUE, 100,000 MEMBERS

Inspiring UNDERGRADUATE WOMEN TO EXPLORE BUSINESS AS A CAREER College women of all majors are discovering potential business career paths, exploring opportunities to engage with employers and representatives from top MBA programs, and building a network of peers and role models, thanks to Forté’s college programs and conferences.

20 1 7 M IL E STONES • 28 Rising Star sponsor schools • 1,200 Rising Star members

joined the online community for college women • 500+ women attended Forté’s

college conferences from 133 schools and 29 states • OVER 20% of Forté’s college

conference attendees are firstgeneration students

Did you know?

The Girl Talk Blog is written for students, by students, covering topics from surviving the undergraduate years to the first job after graduation.

The Blog is part of Virtual Campus, an online interactive career exploration site with over 62,000 visits last year.

72%

RISING STAR INITIATIVE

Forté Rising Stars helps women achieve career readiness through a series of activities and connections in a community of like-minded women.

The self-directed, interactive curriculum and online community offers discussions, mentorship, personal branding, résumé review, and much more. Since inception, the program has been supported through a partnership with JPMorgan Chase.

5 CATEGORIES FOR LEARNING

NETWORKING

JOB SEARCHING

PERSONAL BRANDING

PROFESSIONAL VALUES

CAREER EXPLORATION

We are very grateful for these donors who make Rising Stars possible at five institutions of higher education.

Alice Davison

Caitlin McLaughlin

Stacey Hadash

Louise Wasso

Forté Foundation Board of Directors The College of William and Mary

Smith College

Amy Litzenberger Vassar College

Forté Foundation Board of Directors Carlow College

Mount Holyoke College

KATHY MA, A RISING STAR

While attending the College to Business Conference, Kathy was inspired by the fact that “... everyone at the conference was a woman. Everyone from the keynote speaker to the attendees … it was very empowering. Finance is a male-dominated field,” Kathy shared.

Sometimes I felt like my voice hasn’t been heard as much because of the male dominance. What I really like about Forté is it’s women supporting women.

When one person rises, we can all rise.

Kathy Ma University of Wisconsin, 2018 Candidate: BBA in Investment Banking and International Business

Kathy credits Rising Stars with helping her learn more about MBA programs and the GMAT (Graduate Management Admission Test), something she’s interested in for her future.

Rising Stars also, she says, “helped me prepare for my interviews. I got two job offers, and I ended up accepting a job as a Sales and Trading Analyst with Citi in New York City.”

Lauren Horton, on the Fast Track

Lauren Horton realized she wanted to study business as early as the seventh grade, but she wasn’t sure how to get to the next level.

“As a business student, if I took an interest in something, I didn’t know what I had to do. At Fast Track, we practiced with mock interviews.

It helped my communication skills, it helped me take initiative, and I got more confident.”

FORTÉ CONFERENCES COLLEGE TO BUSINESS CONFERENCE

A transformative experience for all who attend, this conference introduces firstyears, sophomores, and juniors of all majors to the variety and intricacies of a career in business; strengthens leadership skills; and enlarges their networks.

Attendees meet representatives from top companies that offer summer internships and entrylevel opportunities for college graduates.

Lauren Horton

Because of the conference, I’ve had two internships.

It’s hard to get opportunities if you’re not majoring in finance. Forté gave me advice on how to make my applications stronger and encouraged me to keep trying.

Campus Ambassador at Brooklyn College, Business Administration with a Concentration in Management

COLLEGE FAST TRACK TO FINANCE

Students explore the breadth of financial careers, including investment banking, sales and trading, asset management and financial planning. Simulations that require quick decisionmaking and team interaction enhance attendees’ confidence and leadership skills while expanding their network of likeminded women.

Edie Hunt Treasurer, Forté Foundation Board of Directors

A Donor’s Impact, Expanding Forté’s Community

All attendees receive travel stipends to attend our conferences, and our generous donors make that possible. Edie Hunt decided to focus on funding travel stipends for underrepresented minorities and first generation college students.

It’s critical to ensure that women – from all backgrounds – have the opportunity to attend these conferences so they can explore their education and career options. As a first-generation college student, I know how much education changed my life. When you see how people can dramatically impact their own lives and the circumstances of their families through education, that is its own, very special, reward.

Encouraging MORE WOMEN TO PURSUE AN MBA Programs like Forté Forums and MBALaunch encourage thousands of women each year to explore how an MBA can enhance their careers in any industry.

2 0 1 7 M IL E STO NES • 7,090 WOMEN registered

to attend the Forté Forums in 2017 • 748% GROWTH in MBALaunch

attendees from 66 to 560 since our 2013 pilot

MBALAUNCH This holistic, 10-month program acts as a roadmap for women navigating the challenges of the MBA application process. The features of the program – intensive workshops with experienced speakers, online webinars, and in-person peer groups – offer a supportive network that fully prepares women for the rigors of the application process.

2017 MBALAUNCH CLASS PROFILE

570

3.5

3.7

33%

3

LAUNCHERS

AVERAGE GPA

AVG YEARS OF WORK EXPERIENCE

UNDERREPRESENTED MINORITIES

MILITARY VETERANS

• 85% of Launchers enrolled in

an MBA program during their MBALaunch year

Madeline Keulen, Bridging the Confidence Gap

Did you know? 35+ MBA programs provide application fee waivers to MBALaunchers

“I had thought about post-graduate education, but not in the context of business.

Forté helped me understand how liberal arts backgrounds can lend themselves well to business positions because it is about solving problems and analyzing issues.

I wanted to go to a top program, but I didn’t have the foresight and confidence.

My decision was based on encouragement from peers and coaches. I see this a lot among women – even if they are talented, they do not feel as if they deserve things.

MBALaunch gave me confidence and affirmed my decision to apply to Harvard Business School.

It was a healthy process to go through – to aim high even if you don’t get in.”

Madeline Keulen MBALauncher, Class of 2019, Harvard Business School

Connecting WOMEN WITH TOP SCHOOLS Forté works closely with its MBA partner schools to strengthen their diversity strategies by introducing them to a strong pipeline of qualified female applicants. Over the course of the MBA program, women enrolled at partner schools may attend Forté’s conferences and programs, providing them with opportunities to explore careers, build leadership skills, meet likeminded women, and network with business leaders.

DIANE LE, FROM MBA FAILURE TO SUCCESS

The first time Diane Le applied to business school, she did her research and started studying for the GMAT. But after a couple of weeks of studying alone, her interest gradually waned and then ended with her GMAT prep books gathering dust in her closet.

Her first MBA attempt ended in “complete failure,” as she describes it.

Three years later, Diane gave the MBA a second shot.

Through the Forté MBALaunch program, Diane found rich resources, group study sessions, and a support and accountability system. As Diane said,

This time, I did things very differently and ended up at my dream school, UCLA Anderson, with the help of Forté Foundation.

2 0 1 7 MILESTONES • One-third of our partner

business schools achieved 40% (OR BETTER) women’s MBA enrollment • 6,200+ Forté Fellow

students and alumnae • Record breaking

attendance at our MBA Women’s Leadership Conference with more than 600 women attending, a 34% increase from 2016

–Diane is now a Forté Fellow at the UCLA Anderson School of Business, Class of 2019

FORTÉ FELLOWS PROGRAM

The cost of business school can be a deterrent for many women considering an MBA. Forté Fellowships support women pursuing a full-time, part-time, or executive MBA at our sponsor business schools.

In 2017, nearly $32 million was awarded to 1,366 women, the largest number of annual scholarships since Forté was established.

POWER PITCH

Forté MBA Power Pitch is the first and only business pitch competition targeted to women MBA students. MBA women present their new business concept to a panel of judges and their peers during the Forté MBA Women’s Leadership Conference.

Winners receive a financial prize and opportunities for mentorship from entrepreneurs and business executives.

2017 WINNER 4 Women won both awards – the judges’ selection and audience favorite. The winners – Sue Kim, Arshiya Fazal, Courtney Burrows, and Camille Emma – attend the University of Chicago, Booth School of Business.

IDEA

Their winning idea is a healthcare product that seeks to reduce the occurrence of cervical cancer through early detection of the virus that causes it, the human papillomavirus (HPV).

“We competed against very talented teams and ideas, so we’re incredibly grateful to have won,” said Sue Kim. “Because the audience – a room full of women – was essentially our target market, it was great validation that our idea resonated with them.”

INCOMING 2017 CLASS

700 GMAT 3.61 GPA AVG. YEARS OF WORK

5.28 EXPERIENCE 32M DOLLARS

AWARDED

Promoting WOMEN BUSINESS LEADERS THROUGHOUT THEIR CAREERS

Forté’s career support continues beyond campus and into the workplace. Through events, webinars, and executive salons, professional women continue learning about leadership, gain professional skills, and serve as mentors for the next generation of leaders.

2017 MILESTON ES • 10 Women Lead Webinars hosted with

more than 4,000 views (live attendance and recording downloads) • 4 MBA Role Model stories garnered 119,000

Facebook video views • The Job Center provided 2,552 job postings to

members and 19,785 resumes to employers #ForteTurnsItUp

#ForteTurnsItUp

UNITE YOUR

FOR IMPACT. Emily Chan Edelman

BE

Attain the business career you deserve. Be inspired.

MBAsOnTheMove.org

NOT PERFECT. Melissa Waters Lyft

Attain the business career you deserve. Be inspired.

MBAsOnTheMove.org

MBAs on the move

Melissa Waters’ marketing career has risen quickly after her early start in public relations for not-for-profits. After getting an MBA from Babson’s Olin Graduate School of Business, Melissa worked in marketing for consumer packaged goods companies, and then shifted to the fast pace of technology marketing. As current Vice President of Marketing at Lyft, Melissa is responsible for an 80-person team. She has succeeded by believing in and leveraging the power of a strong network, which includes professional mentors, family members and others. Learn how Melissa juggles life and work successfully.

#ForteTurnsItUp

MBAs on the move

With an undergraduate degree in natural resources, it might seem surprising that Emily Chan chose to pursue an MBA at University of Maryland’s Smith School of Business. After working at not-for-profit forestry organizations, Emily realized that business was best suited to solve sustainability challenges. She now serves as vice president of Business + Social Purpose at Edelman, where she advises clients to align sustainability issues with business needs. Read more to understand Emily’s belief that “what is good for business and good for the planet should not be mutually exclusive.”

In April 2017, Forté launched its second “MBAs on the Move” Role Models campaign – this time featuring nine savvy women MBAs in San Francisco whose inspiring stories highlight the value of an MBA and the diverse career paths it can lead to.

#ForteTurnsItUp

DRIVE TECH’S

UNTIL YOU SUCCEED. Anna Binder Asana

DECISIONS.

Attain the business career you deserve. Be inspired.

MBAsOnTheMove.org

Nicole Irvin Goldman Sachs

Attain the business career you deserve. Be inspired.

MBAsOnTheMove.org

MBAs on the move

MBAs ON THE MOVE CAMPAIGN HITS SAN FRANCISCO

After graduating with a degree in molecular biology, Nicole Irvin left science and went into consulting to fulfill her desire to work with people. She got a job at Accenture, where she applied technical acumen to helping clients transform their businesses with technology. After seven years, Nicole decided to get an MBA at Columbia, and she is now an investment banker at Goldman Sachs. Nicole has found her sweet spot advising technology companies on strategy and capital raising, and she also supports efforts to increase the number of women in finance.

MBAs on the move

Anna Binder is doing the work she was meant to do. After getting her MBA at IESE, she explored jobs in micro-finance, but she settled on human resources and has not looked back. As Head of People Operations at Asana, Anna is responsible for recruiting, learning and development, diversity and employee experience. Learn how Anna also used her human resources background during her tenure on the board of Emerge California, an organization that trains women to run for public office.

This year’s group included women leaders at Airbnb, Apple, Asana, Clif Bar, Goldman Sachs and Lyft, as well as an author and entrepreneur; a former Wall Streeter turned venture philanthropist; and a public relations maven focused on sustainability. The stories of these accomplished women resonated with Forté members. The nine articles garnered 22,000 blog views and 119,000 Facebook video views.

EXECUTIVE WOMEN’S SALONS

Forté hosts Executive Women Salons where inspiring leaders speak on topics that influence the advancement of women. The Salons cultivate donations in support of our mission and energize a community of women motivated and willing to coach, mentor, and support Forté programs and members.

APRIL 2017 • NEW YORK CITY

Marge Magner, Founding Member and Partner of Brysam Global Partners – a specialized private equity firm that invests in consumer financial services – led the featured discussion.

As former chief executive officer of Citi’s Consumer bank, Marge shared her approach to leadership and the importance of mentoring and developing a strong team as a primary source of success. The event was hosted by Frida Polli, Cofounder of pymetrics.

NOVEMBER 2017 • BOSTON

Kathleen Murphy, President, Personal Investing, Fidelity Investments, was the executive speaker in an open and frank dialogue moderated by Forté Board Member, Karen Korn.

Kathleen inspired the group to bring more women into financial services by exposing them earlier in their careers.

Forté Board Member, Kathleen McQuiggan, Artemis Financial Advisors, hosted the salon at her home.

Interested in Hosting an Executive Salon?

The Executive Women’s Salons inspired participants to contribute more than $10,000 to support Forté’s mission.

I am involved with Forté because it is the top organization giving young women real tools to advance their careers. Forté has built a community of 100,000 committed to mentoring and motivating women in business.

Kathleen McQuiggan Forté Foundation Board of Directors, Artemis Financial Advisors

Invest

IN EQUITY AND INCLUSION

INCREASE WOMEN OF COLOR IN BUSINESS LEADERSHIP

Gender and racial stereotypes often overlap to create unique obstacles for women of color as they advance in the workplace. This 1-day leadership conference for undergraduate women of color will introduce business careers and concepts, while also addressing the opportunities, barriers and challenges they might encounter. The conference will also address strategies to support women’s advancement. The program will be piloted for 50 students at Forté Rising Stars Schools, with a focus on Historically Black Colleges and Universities and Hispanic Serving Institutions.

Fund a $250 travel stipend for a woman of color to attend Leadership Conference »

INSPIRE LIBERAL ARTS MAJORS TO EXPLORE BUSINESS CAREERS

College students who major in the humanities are often asked what they are planning to do with their degrees. At the same time, recent studies advocate that to effectively tackle today’s biggest social and technological challenges, we must widen – not narrow – students’ education and interests, and foster well-rounded learning experiences. This 1-day conference will introduce women pursuing liberal arts majors to the breadth of opportunities in business, and demonstrate how business skills can help women in any career path. The program will be piloted for 50 students attending women’s colleges, with intent to expand to all schools in the coming years.

Fund a $250 travel stipend for a Liberal Arts student to attend Leadership Conference »

INVEST IN WOMEN PROTAGONISTS IN B-SCHOOL CASE STUDIES

Research from The Case for Women shows that only 11 percent of business school case studies feature a female protagonist. Closing this gap is significant because business schools play an integral role in developing future management, and the gender imbalance inherent in their curriculum sends an underlying message to women and men about women as leaders. Forté seeks additional funding to support this critical research and increase the number of cases with women leads.

Invest $5K to develop more case studies with female protagonists »

DRIVE INCLUSIVE LEADERSHIP THROUGH OUR MEN AS ALLIES INITIATIVE

Forté’s Men as Allies initiative supports men who are invested in gender equity on business school campuses and helps them transition that experience onward to the business world. The “Men as Allies” website provides a toolkit with roadmaps for getting them started, and ideas for events and activities. Podcasts, research and other information on the website foster the adoption of gender-supportive behaviors and working effectively with the Women in Business clubs on campus. There are 25 Men as Allies chapters. Forté seeks funding to expand Men as Allies at its partner business schools, and pilot an inaugural symposium for leaders of chapters.

At Michigan Ross, we have made an intentional, conscious effort to create a community where women can develop and succeed as business leaders. It has truly been an honor to partner with the Forté Foundation in this effort.

The success from our collaboration has been incredible: 43 percent of our full-time MBA class are women, and more than half of our professional clubs are led or co-led by women.

To thrive as a global business community requires change, and we are ensuring that gender equality and equity are at the helm of that change.

Fund the expansion of Men As Allies within business schools at $2.5K per institution » Scott DeRue

Interested in learning more?

Contact Ana Duarte McCarthy at ana@fortefoundation.org.

Edward J. Frey Dean Stephen M. Ross School of Business, University of Michigan

FORTÉ FOUNDATION BOARD OF DIRECTORS

THANK YOU FOR YOUR SUPPORT

Cynthia Bowman

VISIONARIES

Chief Diversity and Inclusion Officer, Bank of America

Randi Brosterman Hutchens Principal (Retired), Deloitte Consulting LLP

Alice Davison

Vice President, Central Services Division, Capital Group Companies

($10,000+) William R. Ebsworth and Anandi Pratap Edie Hunt Karen and William Korn

TRAILBLAZERS

Edie Hunt

($5,000-$9,999) Alice Davison Forté Foundation Staff Roxanne Hori Nicole Irvin Lauriann Kloppenburg Marjorie Magner Rosemaria Martinelli Caitlin McLaughlin Elizabeth Philipp

Nicole Irvin

CHAMPIONS

William R. Ebsworth

Independent Director, Wells Fargo Funds

Gary E. Fraser

Assistance Dean of Student Affairs, Full-Time MBA Program, UCLA Anderson School of Management TREASURER

Partner (Retired), Goldman Sachs

Vice President, Goldman Sachs

Lauriann Kloppenburg

Chief Investment Officer – Equities (Retired), Loomis Sayles & Company VICE CHAIR

Karen Korn

Senior Vice President, Investment Services, Fidelity Investments

Liz Lerner

Program Management Practice Partner, Cognizant Technology Solutions

Rosemaria Martinelli

Senior Director, Huron Consulting Group

Caitlin McLaughlin

Senior Vice President, The PNC Financial Services Group

Kathleen McQuiggan

Wealth Advisor, Artemis Financial Advisors SECRETARY

Diane Morgan

Trilogy Education Services, Global Managing Director

Sara O’Reilly

Chief Operating Officer, East Region, Alvarez & Marsal BOARD CHAIR

Elizabeth Philipp

Managing Director, Angelo, Gordon & Co.

Uta Werner

Global Head of Print Strategy and Emerging Business, Hewlett Packard

($1,000 - $4,999) Lisa Black Randi Brosterman-Hutchens Gary Fraser Elizabeth Lerner Sally McGinty Kathleen McQuiggan Diane Morgan Diane Nordin Sara O’Reilly Jean Park Theodore Thomas Uta Werner

PIONEERS

($500 - $999) Stacey Blake-Beard Stephanie Breedlove Elizabeth Hanify Lori Heinel Wanjiku Kamau Bar Littlefield Deborah McWhinney Amy Moore* Anne Punzak Marcus Peggy Steele Cynthia Strauss Christine Thompson Kelle Thompson* * Forté Fellow Alumnae † Forté Edie Hunt Inspiration Award Winner • Current Forté Fellow

INVESTORS

($100 - $499) Fatima Abdulla Chantel Adams*† Sarah Austrin-Willis* Leigh Bivings Jamey Borell* Rebecca Brunner* Mr. and Mrs. J Randolph Bryan Fernando Caligaris Yan Chen* Carmen Duarte Angela Guido Suni Harford Erin Hubbard* Meredith Hunt Alexis Kheir* Adrienne Lowenstein* Ana Mahony Meredith Massey Kima McCoy † Marcel Quiroga Kris Stookey Joel Tillinghast Vonetta Young Xiaoming Zhang

SUPPORTERS

(UP TO $99) Jax Chaudry Oana Ciherean Dana Cogdell* Gregory Cohen Maria da Silva Costa Alexandra Danzer Elizabeth Furlong*

Rachel Gazzerro Sarah Green Mary Lee and Gerry Halpin Ashley Jangkamolkulchai • Krystalyn Jones • Rebecca Kaye* Kelly Knox Lara Koch* Gouri LeDonne † Sarah McJury Liz O’Brien Rosanna O’Donnell Candrice Oliver* Kathleen Parker Tiffany Powell Veronica Pustay • Ramya Rangarajan Damali Rhett Jessica Sanchez Meghan Shookman* Michael Sibilia Marisa Sinboonyk Akanksha Sinha Latoya Skeine Melinda Slawson Janaina Stewart-Richardson* Sandra Tamer Rebecca Wald Thomas* Xian Wang • Yijuan Wang Gay Wehrli* Tyler Wigton Lourdes Zapata* Nasrin Zu’bi

Your gift to Forté makes a difference.

To learn how you can give through a wide range of options, including donating online, mailing a gift, transferring a gift of stock, giving through a donor-advised fund (DAF), and leveraging an employer matching gift program, please visit our website.

If you have questions or would like assistance, please email ana@fortefoundation.org or call 512.535.5157.

fortefoundation.org

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