|FEATURED SUMMER 2011 ARTICLE
Gifts Around the Globe
Goldman Sachs Gives supports Temple near and far.
By Andrew Smith
One of two gifts from Goldman Sachs Gives will support Japanese students at
Temple University Japan.
In 2007, investment and securities firm Goldman Sachs found a way to spark employee interest in philanthropy. Through Goldman Sachs Gives, a donor-
advised fund that maintains individual accounts for Goldman Sachs partners, qualified nonprofit organizations receive grants that expand educational opportunities, support veterans, improve communities and spur economic growth. The selected organizations are chosen at the recommendation of Goldman Sachs partners. And this year, two executives have come through for Temple.
The Power of Temple
A $500,000 gift came from Goldman Sachs Gives at the recommendation of Alan,
CLA ’72, and Deborah, SBM ’72, Cohen, who are both well acquainted with the
power of Temple.
Native Philadelphians, the Cohens were just children when they both suffered the loss of their fathers. As a result, they were raised by single mothers in households where money was tight. When it came time to attend college, both turned to
“The university’s mission—a quality education at an affordable price—really hit home for us,” Alan says. “We’re both very grateful for that and aren’t sure what we would have done without Temple.”
Today, Alan is executive vice president and global head of compliance for Goldman Sachs in New York City. Deborah spent most of her career in merchandising
and product development, at one point serving as vice president of merchandising for a specialty store division of JCPenney. She also serves on the board of the Temple University Alumni Club of Metropolitan New York.
In recognition of the Temple education they received, the Cohens recently
suggested that Goldman Sachs Gives make a gift to expand Be Your Own Boss
Bowl, the university’s annual business-plan competition. Now in its 13th year, the contest is sponsored by the Innovation and Entrepreneurship Institute in the Fox School of Business.
“Our education provided us with the knowledge and skills that helped us succeed
in our careers,” Deborah says. “We hope that this gift will foster entrepreneurship and create opportunities for students throughout Temple.”
Be Your Own Boss Bowl has historically accepted entries in two tracks: one for undergraduates and the other for graduate students, faculty, staff and alumni. Thanks to the Goldman Sachs Gives gift, a third track—social innovation ventures—
was added, and three new prizes were created: “Best-Written Plan by a Woman,” “Best-Written Plan by a Minority” and “Best-Written CleanTech Plan.”
The Cohens decided to direct the gift to Be Your Own Boss Bowl after speaking
with Fox School of Business Dean M. Moshe Porat, SBM ’81.
“Dean Porat told us about all the benefits the competition had—getting students involved in entrepreneurship and the jobs and companies that would result
from it,” Alan says. “In turn, the contest would help build communities, which is
one of the missions of Goldman Sachs Gives.”
“The idea really resonated with us,” Deborah adds. “We want students to get a good education, to get a leg up on their careers, launch companies and jumpstart
After serving as judges at the 2011 Be Your Own Boss Bowl in April, the Cohens were impressed by its potential.
“We saw that this gift would have far greater reach than we originally
thought,” Alan says. “The students were very impressive, and we have no doubt that many of them will succeed as entrepreneurs.”
Jaine Lucas, executive director of the Innovation and Entrepreneurship Institute, says that businessplan competitions are becoming a good way for firsttime and young entrepreneurs to fund ventures.
“This gift has elevated our business-plan competition into the elite category nationwide,” she says. “It also promotes the long-term viability of great ideas
and, ultimately, creates businesses and jobs.” When asked what they would say
to those who are considering making a gift to Temple, the Cohens nearly speak
“Do it. There is nothing better you can do for your community than to help
The Temple Spirit
Goldman Sachs Gives also will boost the spirits of students of Temple University Japan (TUJ).
In the aftermath of the earthquake, tsunami and nuclear threat that occurred in
March, Temple began—and continues—to rally support for its longstanding Tokyo-
based campus. Students, faculty and staff from Temple’s Philadelphia campuses
organized fundraising efforts to sustain and support TUJ, the oldest non-Japanese university to operate in the country, and people affected by the disaster.
Goldman Sachs Japan Co. President Masanori Mochida strongly believes in the
importance of providing education.
“I believe that providing underprivileged Japanese students with an American liberal
arts education will help foster their global competitiveness and provide them with
new and broader opportunities,” he says.
As a result, he recommended that Goldman Sachs Gives make a $660,000 gift to
create the Goldman Sachs Mochida Scholars Fund at TUJ. The fund will support
academically successful but financially challenged Japanese students attending TUJ.
In its initial year, the Goldman Sachs Mochida Scholars Fund will support up to five
students as they pursue four-year degrees. In the wake of the recent disaster, the
fund could relieve families of the burden of paying for an education while having to
rebuild their lives and prepare the nation’s next generation of leaders.
“Temple University Japan is proud to have been chosen to receive this gift, which
will give underprivileged and deserving Japanese young people an opportunity to
receive an American university liberal arts education,” says Bruce Stronach, dean
“Even though we are 7,000 miles away from Philadelphia, the spirit of Temple founder Russell Conwell is alive and well.”
To make a gift to Temple, contact the Office of Institutional Advancement at
215-926-2500 or email@example.com, or visit myowlspace.com/makeagift.