A GUIDE TO THE NONPROFIT CURRICULUM AT THE YALE SCHOOL OF MANAGEMENT Within the nonprofit sector, there is a wide range of career opportunities, requiring an equally wide range of skills. Managing a portfolio for Yale University is quite different from running the Indonesian offices of Mercy Corps or doing program evaluation for the Ford Foundation. This guide is intended to help Yale SOM students to identify the courses available, at SOM and the university more broadly, that are key to different career aspirations. The careers highlighted here are not exhaustive, but reflect the range of jobs our nonprofit graduates pursue. This guide further provides a map between the specific skills students interested in nonprofits typically want to acquire and the elective courses available at SOM. PART A: CAREERS AND COURSES The foundation course for all students interested in pursuing a career in the nonprofit sector is Strategic Management of Nonprofit Organizations, MGT 527. This course is a general management course, covering everything from the mission of nonprofits, through competitive analysis, pricing and product line choice, financial planning, human resources, and board management. Examples are drawn from a range of different sectors and designed to help students see both the commonalities and differences across nonprofits. A second, general management level course, which most students interested in the sector will find useful is CSR: Social Venture Management, MGT 864. This course focuses on the issues involved with managing socially responsible for profit firms, as well as nonprofit firms with earned income ventures. Its focus is on the complexities of managing a “double-bottom line” enterprise. Beyond these courses, there is a rich array of opportunities. The discussion below highlights the key courses associated with different career paths. Of course, students are encouraged to go well beyond narrow career interests to sample the rest of the curriculum. INVESTMENT/ENDOWMENT MANAGER FOR A LARGE NONPROFIT Exemplars: Ellen Shuman Vice President and Chief Investment Officer, Carnegie Corporation of New York Dean Takahashi Senior Director of Investments, Yale University Paula Volent: Vice President for Investments, Bowdoin College Key courses: Investment Management, MGT 544 Endowment Management, MGT 827 Financial Reporting II, MGT 818
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Highly recommended: Corporate Finance II, MGT 541 Topics in International Finance, MGT 849 At least one of Behavioral Finance, MGT 641; Hedge Funds, MGT 647; Real Estate Finance, MGT 899; or Private Equity Investing, MGT 949 Note: Students interested in this career should take Financial Reporting, MGT 871. FINANCE FUNCTION IN A NONPROFIT ORGANIZATION Exemplars: Robert Wayne Director of Finance, New York Theatre Workshop Nancy Johnson Executive Director of Planning and Budget, Yale University Paul Barbour Finance Officer, IFC Key Courses: Financial Reporting II, MGT 818 Financial Statement Analysis, MGT 812 Understanding Financial Statements of Not for Profits, MGT 814 Highly Recommended: Competitive Strategy, MGT 525 Corporate Finance II, MGT 541 Note: Students interested in this career should take Financial Reporting, MGT 871, and Managerial Controls, MGT 815. ECONOMIC DEVELOPMENT OFFICER Exemplars: Nora Bloch Vice President in Community Development Lending, Wainwright Bank and Trust Amy Gillman Senior Program Director, LISC (Local Initiative Support Corp.) Michelle Kluchman Senior Loan Officer, Boston Community Capital Key Courses: Real Estate Finance, MGT 899 Community and Economic Development, MGT 694 Financial Statement Analysis, MGT 812 Entrepreneurial Business Planning, MGT 618 or Workshop on Entrepreneurship in the Nonprofit Sector, MGT 529 Doing Business in the Developing World, MGT 526
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Highly Recommended: Program Evaluation, MGT 612 Policy Modeling, MGT 611 Macroeconomic Analysis, MGT 521 A course on Economic Development in the Economics Department, for example: Econ 730, Economic Development or Econ732b, Economic Development for IDE students, or Econ625b, Development Economic Policy. Note: Students interested in this career should take Financial Reporting, MGT 871, and Managerial Controls, MGT 815. GENERAL MANAGEMENT IN A NONPROFIT Exemplars: Yoshinoro Nakata Vice President, Teikyo University Ichihari Hospital Neal Kenny Guyer CEO, Mercy Corps Elizabeth McCarthy Executive Vice President, Mercyfirst Key Courses: Competitive Strategy, MGT 525 Competitive Strategy and the Internal Organization of the Firm, MGT 624 Services Marketing Strategies for Nonprofits, MGT 853 Strategic Leadership across the Sectors, MGT 623 Understanding Financial Statements of Not for Profits, MGT 814 Highly Recommended: Negotiation, MGT 887 or Negotiating Strategy, MGT 826 Policy Modeling, MGT 611 Law and Governance of Nonprofit Organizations, MGT 895 Note: Students interested in this career should take Managerial Controls, MGT 815. ENVIRONMENTAL MANAGEMENT Exemplars: Kevin Curtis Senior Vice President, National Environmental Trust Nelson Hardigg Director of Operations, Nature Conservancy Sherry Login Environmental Manager, Con Edison Key Courses: Public and Private Management of the Environment, MGT 528 Competitive Strategy, MGT 525 Policy Modeling, MGT 611
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Highly Recommended: Energy Markets Strategy, MGT 820 Microeconomic Applications: Interacting with the Public Sector, MGT 821 ARTS MANAGEMENT Exemplars: Todd Haines Executive Director, Roundabout Theatre Gail Harrity Chief Operating Officer, Philadelphia Museum of Art Maryann Jordan Sr. Deputy Director, Seattle Art Museum Key Courses: Competitive Strategy, MGT 525 Creativity and Innovation, MGT 828 Strategic Leadership across the Sectors, MGT 623 Services Marketing, MGT 853 Endowment Management, MGT 827 Financial Statement Analysis, MGT 812 Highly Recommended: Understanding Financial Statements of Not for Profits, MGT 814 Philanthropic Foundations, MGT 861 MANAGEMENT CONSULTING TO THE NONPROFIT S ECTOR Exemplars: Paul Connolly Senior Vice President, The TCC Group Francine Brody Partner, Brody, Weiser and Burns Key Courses: Competitive Strategy, MGT 525 Policy Modeling, MGT 611 Understanding Financial Statements of Not for Profits, MGT 814 Highly Recommended: Workshop in Nonprofit Consulting, MGT 628 Competitive Strategy and the Internal Organization of the Firm, MGT 624 Program Evaluation, MGT 612 Note: Students interested in this career should take Managerial Controls, MGT 815.
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FINANCIAL CONSULTING TO THE NONPROFIT SECTOR Exemplars: Sandy Urie President and CEO, Cambridge Associates John Augustine Managing Director, Lehman Brothers Key Courses: Investment Management, MGT 544 Endowment Management, MGT 827 Behavioral Finance, MGT 641 Highly recommended: Topics in International Finance, MGT 849 Financial Reporting I, MGT 871 Macroeconomic Analysis, MGT 521 Also useful - Hedge Funds MGT 647; Real Estate Finance, MGT 899 PROGRAM OFFICER: LARGE FOUNDATION Exemplars: Cheryl Casciani Director of Programs, Baltimore Community Foundation Wayne Jones, Program Associate, The Heinz Endowments Christina Velasquez Director of Social Investment, Annie Casey Foundation Key Courses: Policy Modeling, MGT 611 Program Evaluation, MGT 612 Philanthropic Foundations, MGT 861 Highly Recommended: Endowment Management, MGT 827 DEVELOPMENT OFFICE/FUNDRAISER Exemplar: Cynthia Albert Link Executive Director of Development, Sloan School, MIT Robin Manna Director, University Donor Relations, Harvard University Key Courses: Philanthropic Foundations, MGT 861 Services Marketing for Nonprofits, MGT 853 Highly Recommended: Program Evaluation, MGT612
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SECTORAL EXPERIENCE In nonprofit organizations, passion for the mission resides along side interest in good management. Hence, it is often important for all senior managers in the organization—even those in narrow businessfunctional fields, to understand the language and culture of the sector of the nonprofit. A number of our students come to Yale SOM with either educational and/ or work experience that provides them with this understanding and appreciation. For students without this experience, taking a course specific to the sector of interest is invaluable. Some of these courses are outside SOM and we encourage students to investigate courses at the Drama School, in Art History, at the Forestry School, the Law School, in International Relations, and in Public Health. There are also a number of general management-type courses, some of which focus on a particular sector. These courses vary year to year depending on student and/or faculty interest. For 2006, the following courses should be of interest: Public and Private Management of the Environment, MGT 528; Nonprofit Organizations Clinic, MGT 695(Law School) Philanthropic Foundations, MGT 861 Microeconomic Applications: Interacting with the Public Sector MGT 821 Banking and the Public Interest, MGT 869 Management and the Environment: Issues and Topics, MGT 684 Field Studies in Healthcare Management, MGT 691 Healthcare Finance and Health Economics, MGT 698
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PART B: FROM SKILLS TO COURSES There are a range of skills that students come to business school to acquire. Of course, much of what students learn is serendipitous; in a great class both the faculty and students often learn unexpected things. Nevertheless, for those students who have identified specific skills they wish to acquire, it is useful to know in which courses such material is covered. This section of the guide addresses that need by providing a first-cut mapping between specific skills often used in the nonprofit sector to specific courses. In using this guide, it is important to remember that most of what we at Yale SOM think the nonprofit manager needs to know is exactly the same as what the for-profit manager needs. Indeed the core of this material is in the common core. This guide has a much narrower ambition. SKILL Accounting for nonprofits: financial statement, reporting requirements; accounting for restrictions; creating financial statements Asset allocation Board management and development COURSE MGT 814 Understanding Financial Statements of NFPs MGT 529 Workshop on NP Ventures MGT 827 Endowment Management MGT 544 Investment Management MGT 527 Strategic Management of Nonprofit Organizations MGT 861 Philanthropic Foundations MGT 623 Strategic Leadership Across Sectors MGT 529 Workshop on NP Ventures MGT 529 Workshop on NP Ventures MGT 628 Workshop in Nonprofit Consulting MGT 864 CSR: Social Venture Management MGT 528 Public &Private Mgt of Environment MGT 611 Policy Modeling MGT 528 Public &Private Mgt of Environment MGT 612 Program Evaluation MGT 827 Endowment Management MGT 612 Program Evaluation MGT 611 Policy Modeling Short program offering
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Budgeting Business plans Consulting Corporate Social Responsibility (DBL)
Cost Benefit Analysis
Endowment management and risk Evaluation of Programs Financing Nonprofits: Debt
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Fundraising, including grants
MGT 527 Strategic Management of Nonprofit Organizations MGT 861 Philanthropic Foundations MGT 528 Public &Private Mgt of Environment MGT 864 CSR: Social Venture Management MGT 624 Competitive Strategy and the Internal Organization of the Firm MGT 623 Strategic Leadership Across Sectors MGT 633 Strategic Human Resources MGT 853 Services Marketing MGT 527 Strategic Management of Nonprofit Organizations MGT 864 CSR: Social Venture Management MGT 861 Philanthropic Foundations MGT 611 Policy Modeling MGT 625 Development Economic Policy (INRL 708b) MGT 527 Strategic Management of Nonprofit Organizations MGT 527 Strategic Management of Nonprofit Organizations MGT 864 CSR: Social Venture Management MGT 853 Services Marketing MGT 528 Public & Private Mgt of Environment Short offering MGT 861 Philanthropic Foundations MGT 529 Workshop on NP Ventures MGT 861 Philanthropic Foundations
Green Marketing Human Resources: Salaries, Motivation; Structure Marketing Nonprofits Partnerships across and within sector
Philanthropy Policy issues
Pricing and Product Replication and Growth Social Cause Marketing Sustainable Development Strategic Planning Tax issues for foundations Ventures Venture Philanthropy
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