McCourt Global Makes Transformative $10M Investment in The Future ProjectMcCourt Global (MG) today announced that it has made a transformative $10 million investment in The Future Project (TFP) – one of the fastest-growing non-profits in America – to help it meet the national demand for its award-winning model of inspiring young people to discover the power within themselves to fulfill their dreams and change the world. MG will serve as TFP's strategic partner and provide the organization with counsel, resources, and operational support as it mobilizes young people to build their futures and the future of the country.
“The Future Project is changing the national dialogue by inspiring America's youth to define the future on their terms, to be excited about the possibilities of tomorrow, and to hold themselves and the world around them accountable for delivering on the promises upon which America was built,” said Frank H. McCourt, Jr., Chairman and CEO of McCourt Global. “Those powerful concepts fueled the fires that created this country and made it great, and those are the very same concepts that can reignite the torch of America's greatness. I expect McCourt Global's investment in The Future Project will be one of best we've ever made – it's an investment in our youth, our communities, and our country, which will reap unlimited dividends for years to come.”
Co-founded in 2011 by social entrepreneurs Andrew Mangino and Kanya Balakrishna – who currently serve as CEO and president respectively – TFP embeds entrepreneurial “Dream Directors,” recruited from within the communities they serve, in schools around the country to expose young people to the dreams and passions they can pursue, instill in them a belief that they can achieve what seems 'impossible,' and teach them the hard skills they need to turn their dreams into reality. Students design and implement “Future Projects” in partnership with their peers and volunteer coaches that prepare them to solve problems in an increasingly complex world – and awaken them to the power of their ideas. The TFP model – which has been designed in partnership with dozens of educators and students across the nation – is built on cutting-edge research about the mindset and skillset young people need most in the 21st Century in order to flourish personally – and become leaders of building a better world.
“By making this unprecedented investment in our mission to fulfill the unmet promise of our country to all of its young people, McCourt Global has taken a bold stand that non-profits should not be afraid to pursue their biggest dreams, even when those dreams require significant capital,” Mangino said. “We're now able to invite the millions of Americans out there with so much passion and purpose – future Dream Directors, volunteers, principals, teachers, parents, and of course the young people themselves whose voices are too often left out – to answer the call to action of this decade: to build a more perfect union by empowering the next generation like never before. And we hope McCourt Global's investment – and the partnership underlying it – inspires philanthropists of all kinds to think even bigger about the difference they can make, no matter their cause.”
Based in New York City, TFP has nearly 70 full-time employees and works with thousands of young people across seven states. The organization is supported by a Board of Directors and advisors that include many of today's leading philanthropists, entrepreneurs, venture capitalists, educators, authors, and visionaries. TFP currently works with young people in New York City, Washington, D.C., Detroit, Newark, Philadelphia, the San Francisco Bay Area, and New Haven, CT; and after seeing outsized demand for its model from thousands of students, educators, and institutions nationwide, plans to grow its presence and impact to all corners of the country by the end of the decade. TFP is the recipient of the Ashoka Fellowship, awarded to the world's leading social entrepreneurs with audacious visions of systemic change; and the Draper Richards Kaplan Fellowship, awarded to the most promising early-stage non-profits in America (past recipients have included Kiva, Room to Read, and the Mission Continues).
“McCourt Global believes in The Future Project and its mission, and we intend this investment to be a transformative opportunity for the organization,” McCourt continued. “Given the daily challenges not-for-profits often experience simply keeping the lights on and making payroll, it is understandably difficult for them to operate strategically and drive rapid growth. Today, the need for a new paradigm is far too acute to allow an organization like The Future Project to be held back by fundraising cycles. This investment and our ongoing partnership will enable The Future Project to take the long view – to operate strategically and to help bring about the significant changes our young people and our nation are hungry for. As importantly, we expect our investment will prompt others to join The Future Project's growing team of investors and partners.”
“My family moved to America when I was five years old because we believed the United States was a place of limitless possibility, optimism, and ingenuity – a place where anyone could create the life and world they imagine,” Balakrishna said. “These ideas are a core part of the American narrative – but for too many people, especially young people, they are nowhere close to reality. Today, we are inviting Americans of all kinds to join us and thousands of young people in changing the status quo. Millions of lives – and our national spirit – is at stake. We have the chance, together, to inspire a generation to lead us into the future and change this country for the better.”
About McCourt Global
McCourt Global (MG) is a leader in building value through entrepreneurial, strategic, and philanthropic investments. With roots dating back to 1893, MG was founded by real estate developer and philanthropist Frank H. McCourt, Jr. MG's principal business units include: MG Properties, its real estate investment and development arm with current projects in New York City, Miami, and Austin; MG Capital, the global investment solutions unit that recently launched specialty finance firm MGG Investment Group; and MG Sports & Media, whose businesses include the LA Marathon and Global Champions Tour, the premier global show jumping series. MG is headquartered in New York City, with offices in Los Angeles. Additional information can be found at mg.com.