April 28, 2010
Is There Life Beyond Wall Street? Putting Green College Grads, and Some Graying Alums, into Public Interest Careers
Kathleen Reilly
Executive Director, Princeton Project 55
Minutes of the 30th Meeting of the 68th Year
The 30th meeting of the 68th year was called to order at 10:15 by President George Hansen. The invocation was led by Don Edwards.
The Minutes of the April 21 meeting were read by Larry Pervin.
Bob Varrin issued a reminder that there would be an extra meeting on May 26th to make up for a snow-day. That meeting will be a talk on “The Art of Collecting” by Gillett Griffin, a retired Curator of the Princeton Art Museum.
Jack Reilly, the Membership Chairman, announced that ballots for new members will be circulated at the next meeting on May 5th and a voice vote will be taken on May 12th. New members will be encouraged to attend the social hour on May 19th.
Joe Bolster, The Nominations Chairman, announced the nominations for Officers and Committee Chairs for 2010 – 2011. Voting will take place at the May 5th meeting.
Landon Jones introduced the speaker of the day, Kathleen Reilly, Executive Director of Project 55, to speak on “Is there Life after Wall Street? Putting Green College Grads and some Graying Alums into Public Interest Careers.” Mr. Jones stated that there are three important events on the Princeton Campus in the spring: Alumni Reunions, Graduation ceremonies and the assignation of new graduates to Non-Profit and Public Policy organizations via Project 55. Kathleen Reilly graduated from the College of New Jersey with a degree in English and worked as a Management Analyst for The Department of Defense in Fort Monmouth before accepting an assignment with Project 55 in 2006 as Director of Public Interest Program and Public Health Fellowship Programs. She was appointed as Executive Director of Project 55 in 2008.
Kathleen Reilly started her talk by giving us an overview of Non-Profit Organizations in the USA. There are 1.5 million of them, 6 % of all corporations, employing 1 in 12 of the total workers in the country. Charitable gifts to Non Profit organizations amount to 308 billion dollars annually. The average donor is a woman city dweller and the average donation is $35 and 75% of donations are from individuals.
Project 55 was founded in 1989 by members of the Princeton Class of 1955 as a non-profit organization which “provides opportunities for recent graduates in paid, substantive, yearlong fellowship positions with domestic nonprofit organizations.” Project 55 has partnered with more than 500 non-profit organizations and has placed 1300 Princeton Graduates in paid public interest positions, since its inception.
Some examples of projects worked on include:
Donorschoose is a web based non-profit organization on which teachers request funds for specific educational equipment needs and donors may log on to the website and donate any amount that they chose. One graduate in an interview with Project 55 showed an extreme interest in joining this organization and has been with it for 4 years.
Another fellow, a philosophy major, joined the Northstar Charter Academy School in Newark, NJ as a teacher of chemistry in the elementary school. It is a great tribute to the quality of the Princeton University education and to the persuasiveness of the Project55 Director when a philosophy major can handle a chemistry teaching assignment.
Project 55 has its headquarters in a house on Stockton Street in Princeton and has a full time staff of 5 but is supported by many alumni and volunteers who act as mentors to the Fellows. The organization is non-political.
In 2009 149 seniors, or 12% of the graduating class applied for fellowships and at present 46 Fellows are working in 8 States in the USA. Fellows receive a moderately low salary of about $30,000 per annum.
Another initiative promoted by Project 55 is an Alumni Network, which is a consortium of public interest organizations founded and managed by alumni, staff and students of colleges and universities around the country.
In the future there is a plan is to found a Princeton Alumni Corps which will apply to public interest programs the experience and skills of graying alumni who after retirement or mid career change don’t know what they want to do but want to be appreciated. There may be may be people in this category in the Old Guard. Certainly it became obvious that there are several members of the Class of 55 in this organization and there are many members who work on the boards of non-profit organizations.
Project 55 will celebrate its 20th Anniversary with a Gala Dinner at the Westin Hotel at Forrestal Village on May 27th.
Respectfully submitted,
Bruno J Walmsley
The Minutes of the April 21 meeting were read by Larry Pervin.
Bob Varrin issued a reminder that there would be an extra meeting on May 26th to make up for a snow-day. That meeting will be a talk on “The Art of Collecting” by Gillett Griffin, a retired Curator of the Princeton Art Museum.
Jack Reilly, the Membership Chairman, announced that ballots for new members will be circulated at the next meeting on May 5th and a voice vote will be taken on May 12th. New members will be encouraged to attend the social hour on May 19th.
Joe Bolster, The Nominations Chairman, announced the nominations for Officers and Committee Chairs for 2010 – 2011. Voting will take place at the May 5th meeting.
Landon Jones introduced the speaker of the day, Kathleen Reilly, Executive Director of Project 55, to speak on “Is there Life after Wall Street? Putting Green College Grads and some Graying Alums into Public Interest Careers.” Mr. Jones stated that there are three important events on the Princeton Campus in the spring: Alumni Reunions, Graduation ceremonies and the assignation of new graduates to Non-Profit and Public Policy organizations via Project 55. Kathleen Reilly graduated from the College of New Jersey with a degree in English and worked as a Management Analyst for The Department of Defense in Fort Monmouth before accepting an assignment with Project 55 in 2006 as Director of Public Interest Program and Public Health Fellowship Programs. She was appointed as Executive Director of Project 55 in 2008.
Kathleen Reilly started her talk by giving us an overview of Non-Profit Organizations in the USA. There are 1.5 million of them, 6 % of all corporations, employing 1 in 12 of the total workers in the country. Charitable gifts to Non Profit organizations amount to 308 billion dollars annually. The average donor is a woman city dweller and the average donation is $35 and 75% of donations are from individuals.
Project 55 was founded in 1989 by members of the Princeton Class of 1955 as a non-profit organization which “provides opportunities for recent graduates in paid, substantive, yearlong fellowship positions with domestic nonprofit organizations.” Project 55 has partnered with more than 500 non-profit organizations and has placed 1300 Princeton Graduates in paid public interest positions, since its inception.
Some examples of projects worked on include:
- Advocating for youth in the courtroom,
- Energy Auditing in low income housing,
- Writing Policy papers on Public Health concerns,
- Investigating white collar crimes,
- Developing Curriculum,
- Implementing electronic medical record systems.
- Fundraising and writing grant proposals
- Managing the writing center at a charter school
Donorschoose is a web based non-profit organization on which teachers request funds for specific educational equipment needs and donors may log on to the website and donate any amount that they chose. One graduate in an interview with Project 55 showed an extreme interest in joining this organization and has been with it for 4 years.
Another fellow, a philosophy major, joined the Northstar Charter Academy School in Newark, NJ as a teacher of chemistry in the elementary school. It is a great tribute to the quality of the Princeton University education and to the persuasiveness of the Project55 Director when a philosophy major can handle a chemistry teaching assignment.
Project 55 has its headquarters in a house on Stockton Street in Princeton and has a full time staff of 5 but is supported by many alumni and volunteers who act as mentors to the Fellows. The organization is non-political.
In 2009 149 seniors, or 12% of the graduating class applied for fellowships and at present 46 Fellows are working in 8 States in the USA. Fellows receive a moderately low salary of about $30,000 per annum.
Another initiative promoted by Project 55 is an Alumni Network, which is a consortium of public interest organizations founded and managed by alumni, staff and students of colleges and universities around the country.
In the future there is a plan is to found a Princeton Alumni Corps which will apply to public interest programs the experience and skills of graying alumni who after retirement or mid career change don’t know what they want to do but want to be appreciated. There may be may be people in this category in the Old Guard. Certainly it became obvious that there are several members of the Class of 55 in this organization and there are many members who work on the boards of non-profit organizations.
Project 55 will celebrate its 20th Anniversary with a Gala Dinner at the Westin Hotel at Forrestal Village on May 27th.
Respectfully submitted,
Bruno J Walmsley