Internship Description
Caitlin Gallagher and Bejamin Seeto, ‘20BUS, worked with Rockefeller Philanthropy Advisors, a nonprofit organization that partners with individuals, families and institutions to help make philanthropy more thoughtful and effective. As a Summer Fellow on the Donor Services Team, Caitlin worked on over five research assignments and client-facing projects with philanthropists, nonprofits, and individual families. She experienced the inner workings of a social enterprise and gained a deep understanding of the philanthropic sector by providing advisory, management, and implementation services. Benjamin worked directly with the CFO, helping plan and build actionable strategies for the organization to manage, access and develop operating reserves, among other things.
My project was primarily to review and assess Rockefeller Philanthropy Advisor’s business model and recommend a prudent level of operating reserves (or cash) to ensure the financial viability of the business (as a nonprofit) during impending economic downturns. The organization, that was founded in 2002, and whose lineage is interwoven with the groundbreaking philanthropy of the Rockefeller family, has enjoyed steady and sustainable growth throughout its history. It was imperative that the RPA team would be able to continue this growth and ability to provide philanthropic advice and management through tough economic times, where the necessity of charitable services and charitable giving is heightened.
As a result, my work directly addressed the needs and strategy of the business, shaping executive and board-level decision making.
My background in finance, that has only been sharpened and broadened at Columbia Business School, was applied daily during my internship. Any financial model that is built is only useful to the extent that it reflects the realism and dynamism of the business it tries to mimic. As such, being able to draw on the plethora of businesses I have had studied and interacted with, and understand the organizational structures indefinitely assisted me during my project internship. Furthermore, the ability to gain access to experienced key members of Rockefeller’s staff made it possible to fill those knowledge gaps (where there were plenty!) seamlessly. There was always a friendly staff member who was willing to set aside time to help.
At first, not having any prior experience at a nonprofit, it took time to understand the complexity of RPA, that does advisory, grantmaking, sponsored projects across 100+ accounts. This initially steep learning curve was met with extremely thoughtful and helpful staff at RPA that always had time to answer questions, assisting in finding documents and making sure I had the resources I needed.
I had weekly meetings with Tina (the CFO) in order to bounce ideas and get clarity in direction for the project. Furthermore, other leaders of their respective teams at RPA were kind enough to set aside time for me to learn what they do and how they fit in to the larger RPA machine. This insight was invaluable for someone who was only spending a short period of time at the business, allowing me to gain a full appreciation and insight for the different aspects of RPA and indirectly assisting in the completion of my project.
My initial takeaway and the most lasting impression from my experience at RPA is the profound value the organization is providing foundations, families and individuals to easily direct their grantmaking and charitable efforts in the most meaningful and effective manner. This good was met with equally kind, open and wonderful people that carry the culture and name of the Rockefellers with pride and aplomb.
Furthermore, the complexity of the non-profit industry became very apparent early on in my internship. The significance of incorporating philanthropy into the lives of people who are more fortunate is imperative. I am extremely thankful to RPA and the Tamer Center for providing the opportunity to work together during my internship summer.
