Tuck GIVES Fund

The Tuck School of Business, the oldest graduate school of business in the world, believes it has an opportunity and a civic responsibility to contribute back to its community and society. Tuck GIVES (Grants to Interns and Volunteers for the Environment and Society) is an effort to recognize and support the efforts of current Tuck students who wish to work with nonprofit and public sector organizations for the betterment of the environment and society. Tuck GIVES provides financial support to enable Tuck students to contribute their skills and passion through these internships.

How are funds raised?

While informal collective and individual efforts have existed since 1996, Tuck GIVES officially began in 2001. Funds are raised through an annual charity auction held each spring at the Tuck School. The Tuck GIVES auction is organized by students, with support from the James M. Allwin Initiative for Corporate Citizenship, the Career Development Office (CDO), the MBA Program Office, and the Dean’s Office.

What are the guidelines for an internship to be eligible for funding?

Student commitment: The Tuck student who has finished their first-year must demonstrate a commitment to the internship for which funding is being requested.
MBA-level internship: The internship must be MBA-level work, with both responsibilities and work products clearly outlined.
Qualified organizations: Non-profits with 501(C)(3) designation or Non-Governmental Organizations (NGOs) with the international equivalent, and a demonstrated track record of providing service to their constituencies are appropriate for internship opportunities. Higher education institutions like Tuck and its peers are not eligible. Sectarian and political positions are also excluded.
Organization support: The organization must demonstrate support for the intern by funding a portion of the summer internship salary. We anticipate that the nonprofit organization will contribute at least $4,000 towards the student’s summer salary. Requests for exceptions will be considered for organizations for which $4,000 is a demonstrated hardship.
Continued student commitment: Applicants will commit to sharing their experience with the Tuck community through an article in a Tuck publication, as well as through participation in CDO and Nonprofit Club events.

How are funds distributed?

The goal of the funding is to bring each student’s summer compensation up to two-thirds, or 67%, of the previous summer’s median salary for a 10 week internship. In 2005, this goal is $10,000. We expect that individual grants from Tuck GIVES funds would not exceed $6,000. These amounts are comparable to the Tuck Entrepreneurship Internship Program (TEIP) internship support guidelines. We will consider increasing individual grants to a small extent on a case-by-case basis if the nonprofit organization can demonstrate hardship in supplying their expected salary contribution. Please note that we do not look at an applicant’s personal financial situation when distributing funds.

What if there are excess funds after bringing all nonprofit interns to meet the 67% goal?

Actual distribution of funds will depend upon the number of applicants and the amount of support they will receive from the nonprofits. If excess money remains after all qualified students have received their share of the Tuck GIVES funding, surplus funds will roll over to support future nonprofit or public sector interns.

What if there are not enough funds to bring all nonprofit interns to the 67% goal?

If demand for funds exceed supply in a given year, we will lower our total compensation goal, and distribute funds on a pro-rata basis to bring student compensation up to the revised goal. This does not mean that everyone will get the same amount of funds.

While our ultimate goal is 67% of the previous year’s median, actual funding could be substantially lower if demand for funding exceeds supply. Students should make a decision on the internship based on quality of the experience it will provide and their ability to accept the funding provided by the organization. Unfortunately, we can not guarantee a minimum amount from the TuckGIVES funds nor can we guarantee that all applicants will be funded.

When will awards be announced?

Though applications will be accepted through May 30, we will notify first-round applicants if they are approved for funding by mid-May. Final decisions on the amount of individual grants will be made after May 30.

When will recipients receive Tuck GIVES support?

One-half of the funds are given to recipients at the beginning of the internship and the remaining half is given upon the successful completion of their internship and their return to Tuck in the fall.

How many interns have been funded by Tuck GIVES?

First-year students using Tuck GIVES funding over the years has ranged from one internship in early years to a high of 17 internships in 2003. Funded positions in 2004 were identified both through the Career Development Office and through self-sourcing by individual students.

Who should I contact for more information?

Please feel free to contact the Career Development Office.