your story our story 2 17 09

© 2009 The National Foundation for © 2009 The National Foundation for

Teaching Entrepreneurship, Inc.Teaching Entrepreneurship, Inc.

YOUR YOUR STORY… STORY…

OUROUR STORYSTORY



We’ve all arrived We’ve all arrived here through here through

differentdifferent means… means…



““I was I was bornborn in the in the US and am a third US and am a third

generation…”generation…”



“…“…my grandparents my grandparents came to this country came to this country

on a on a boatboat…”…”



“…“…my my father father

escapedescaped here when here when

he was he was 18…”18…”



“…“…my great my great grandmother grandmother leftleft her her brothers and sisters brothers and sisters

to come here …”to come here …”



““I was the I was the firstfirst in in my family to…”my family to…”



But the But the reasons for reasons for living here living here

have have always always

been the been the samesame



‘‘Life, liberty andLife, liberty andthe the pursuitpursuit of of happiness’ for happiness’ for

all...all... ……



For our nation’s For our nation’s youth to get a youth to get a

good good educationeducation……



To have To have opportunitiesopportunities our our

families didn’t families didn’t havehave



Our families madeOur families made sacrificessacrifices……



They They savedsaved…… They They built built futures…futures…



Sound Sound familiarfamiliar??



We We allall have a have a storystory of how we became of how we became

who we are…who we are…



This is This is HisHis-story-story------

a traumatic a traumatic experience that experience that

ignitedignited a a movementmovement



One day a One day a man who man who owned a owned a

businessbusiness was was beaten on the beaten on the street for $10street for $10



He lay in his He lay in his hospital bed and hospital bed and

wonderedwondered



Why such violence Why such violence over a few over a few dollarsdollars…? …?



He decided He decided notnot to live in to live in fear … but to fear … but to find answers find answers by visiting by visiting

classrooms in classrooms in tough schoolstough schools



He soon discovered He soon discovered kids in public kids in public

schools were schools were notnot learning basic skillslearning basic skills



……not learning how not learning how to make it in the to make it in the

economyeconomy



He felt he could He felt he could reachreach these young these young

people…people…



He He soldsold his his companycompany



Became a public Became a public school school teacherteacher in in the South Bronxthe South Bronx



His students would ask His students would ask him how he him how he made made

money before money before teaching?teaching?



He shared how he He shared how he importedimported shoes for shoes for

$5.00 a pair -- $5.00 a pair --



and and soldsold them to them to wholesalers for a wholesalers for a gross profit of $3gross profit of $3



Two of his Two of his students, students,

Josephine R. Josephine R. and Edwin B., and Edwin B., wonderedwondered if if

they could start they could start businesses too?businesses too?



Steve Mariotti…their Steve Mariotti…their teacherteacher, realized , realized

that somehow that somehow learning to make learning to make

moneymoney



EngagedEngaged his his students in school students in school

more than anything more than anything else he taughtelse he taught



He built an He built an 80-80- hour program to hour program to

teach his teach his students what students what he knew about he knew about

owning a owning a businessbusiness



The The curriculumcurriculum also also improved reading, improved reading, writing, math, and writing, math, and

public speaking public speaking skills skills



All based around All based around real-worldreal-world business business

knowledgeknowledge



Steve decided each Steve decided each student could student could startstart their own business their own business to learn concepts to learn concepts

of “ownership” and of “ownership” and financial literacyfinancial literacy



He gave each He gave each student $50 each student $50 each to to ‘buy low’‘buy low’ at NY at NY wholesale district wholesale district

and and ‘sell high’‘sell high’



All of Steve’s All of Steve’s students became students became

Presidents of Presidents of their their own own

companiescompanies that that year year

(Josephine made 10k selling clothes)(Josephine made 10k selling clothes)



……and began and began their their entrepreneurial entrepreneurial

storiesstories with a new with a new self-perception and self-perception and

a feeling of new-a feeling of new-found freedomfound freedom



Steve went on to Steve went on to foundfound

The National The National Foundation for Foundation for

Teaching Teaching Entrepreneurship Entrepreneurship (WWW.NFTE.COM)(WWW.NFTE.COM)



He started with He started with 1818 youth in the South youth in the South

Bronx Bronx



TO DATETO DATE220,000220,000 youth in 13 youth in 13 countries have gone countries have gone

through NFTE’s through NFTE’s program to dateprogram to date



Studies from Harvard Studies from Harvard and Brandeis on NFTE and Brandeis on NFTE

show that students are show that students are more engagedmore engaged in in school, read more school, read more independently and independently and have a significantly have a significantly

higher desire to higher desire to go to go to collegecollege



On a recent Gallop On a recent Gallop poll poll 9:10 9:10 high school high school students said they students said they

wanted to start their wanted to start their own businessown business



In a time whenIn a time when 1:3 1:3 youth drop out of youth drop out of high school and high school and

often feel often feel disengageddisengaged



Shouldn’t we Shouldn’t we be teaching be teaching our children our children

the the AMER-AMER-I-CANI-CAN

Dream!Dream!



““My My DreamDream is not to is not to Die in Poverty, but Die in Poverty, but have Poverty Die in have Poverty Die in

Me!”Me!” - -

NFTE graduate Michelle A.NFTE graduate Michelle A.



VisionVisionNFTE envisions a nation NFTE envisions a nation

where every young person where every young person will find awill find a

pathway to prosperity.pathway to prosperity.



What What storiesstories will will these young people these young people tell their children tell their children

one day?one day?“freedom”“ownership”

“education”“proud”

“college”

NFTE Success StoriesNFTE Success Stories

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.

“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.

Jasmine Lawrence, Williamstown, New Jersey Williamstown High School, Sophomore

Pictured on the Oprah Show

NFTE Success StoriesNFTE Success Stories

When he was 17, Malik’s high school guidance counselor suggested that When he was 17, Malik’s high school guidance counselor suggested that he take the first NFTE entrepreneurship course that was being offered he take the first NFTE entrepreneurship course that was being offered at the University of Pennsylvania’s Wharton School. Malik began at the University of Pennsylvania’s Wharton School. Malik began bringing a book bag filled with soda and snacks to school and selling bringing a book bag filled with soda and snacks to school and selling them during lunch breaks. Malik went on to attend Morehouse College them during lunch breaks. Malik went on to attend Morehouse College in Atlanta, where he studied finance and sold hand-painted T-shirts and 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 jeans to help pay for his education. After graduating, he landed a great job on Wall Street with Morgan Stanley. job on Wall Street with Morgan Stanley. But Malik dreamed of being his own boss. He saved his money for a few 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 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 restaurant on Myrtle Avenue in Brooklyn. “In those days, Myrtle Avenue was often called ‘murder avenue,’” Malik says. But that didn’t stop him 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 from buying the property he was renting for the restaurant, as well as two other properties on the block. Today, Malik’s two other properties on the block. Today, Malik’s Five SpotFive Spot restaurant is restaurant is a 2,500 square foot supper club that serves up great soul food and 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 music six nights a week. The restaurant, which Malik runs with his wife and partner Kim, employees over two dozen people from the and partner Kim, employees over two dozen people from the community who are trained to learn the business from the ground up.community who are trained to learn the business from the ground up.

Malik ArmsteadFive Spot Restaurant, Brooklyn, New York

Malik Armstead pictured with Alan Appelbaum & Joan Rosen at 7th Annual BAF mentor meeting at Malik’s Five Spot Restaurant

www.nfte.com

WHAT WE DO -http://www.nfte.com/whatwedo/OUR IMPACT- http://www.nfte.com/impact/OUR LOCATIONS- http://www.nfte.com/locations/

GETTING INVOLVED- http://www.nfte.com/donate/

Prepared by Julie Kantor, VP Government Affairs [email protected] and Amy Rosen, NFTE CEO and Dusty Kluttz. Photos courtesy of freefoto.com

http://www.nfte.com/

http://www.nfte.com/whatwedo/

http://www.nfte.com/whatwedo/

http://www.nfte.com/impact/

http://www.nfte.com/locations/

http://www.nfte.com/donate/

mailto:[email protected]

http://www.freefoto.com/

Organizational SnapshotOrganizational Snapshot► StudentsStudents

Target Population: young people from low-income communities, ages 11 Target Population: young people from low-income communities, ages 11 – 18– 18

230,000 youth served since 1987230,000 youth served since 1987 FY 2008 Actual: 44,679 students (25% increase over FY07) FY 2008 Actual: 44,679 students (25% increase over FY07) FY 2009 Goal: 48,524 students (9% increase over FY08)FY 2009 Goal: 48,524 students (9% increase over FY08)

► TeachersTeachers FY 2008 Actual: 806 trained; 1,313 activeFY 2008 Actual: 806 trained; 1,313 active FY 2009 Goal: Train 384 new teachers; retain active corps of 1,531 FY 2009 Goal: Train 384 new teachers; retain active corps of 1,531

teachersteachers

► CurriculumCurriculum Pearson Prentice Hall Partnership: 3 books to be published in 2009 and Pearson Prentice Hall Partnership: 3 books to be published in 2009 and

2010 2010

► Operations & Financial InformationOperations & Financial Information 11 domestic program offices11 domestic program offices Active programs in 21 states and 11 countriesActive programs in 21 states and 11 countries FY 2009 budget is $18.5M; FY 2008 actual was $19.1MFY 2009 budget is $18.5M; FY 2008 actual was $19.1M

your story our story 2 17 09

Education