Goldman Sachs 2012 Annual Report Download - page 10

8Goldman Sachs 2012 Annual Report
10,000 Women
10,000 Women is providing 10,000 underserved women
entrepreneurs with a business and management education,
access to mentors and networks and links to capital. Since
its inception in 2008, the program has assisted nearly
7,500 women-owned businesses drawn from more than
40 countries, and is on track to reach its 10,000th woman in
2013. Delivered through a network of nearly 100 academic
and non-profit partners, 10,000 Women continues to yield
promising results. An independent report reviewing program
graduates in India published by the International Center
for Research on Women found that nearly 80 percent of
surveyed scholars have increased revenues and 66 percent
have added new jobs within 18 months after graduation.
10,000 Small Businesses
In 2012, 10,000 Small Businesses continued to expand its
network of cities and partners to provide small businesses
with the education, business services and capital they need
to grow and create jobs. In the U.S., Salt Lake City and
Cleveland joined the program, while the first cohort graduated
in Chicago. By year’s end, the program was operating in
14 markets in the U.S. and U.K. In 2012, the program also
launched an access to capital initiative specifically targeted
at rural regions in the U.S., such as those in Montana and
eastern Kentucky. In all markets where 10,000 Small
Businesses operates, we continue to see a wide variety
of business owners from all industries participate, as we
convene local public, private and non-profit institutions to
ensure the program addresses specific community needs.
Goldman Sachs Gives
Goldman Sachs Gives is a donor-advised fund through
which participating managing directors of the firm can
recommend grants to qualified non-profit organizations
around the world. Since the beginning of 2010, the firm has
contributed nearly $1.1 billion to Goldman Sachs Gives, and
10,000 grants totaling more than $575 million have been
made to various organizations in 35 countries. Since the
fund was created, more than $270 million has been granted
to community organizations supporting veterans, poverty
alleviation, medical research and other significant areas
Letter to Shareholders
We were also recognized by Working Mother, which named
us to its “100 Best Companies for Working Mothers” list.
Further, our diversity efforts were noted by the Human
Rights Campaign, which awarded us the Corporate Equality
Award for the first time, and included us on its “Best
Place to Work for LGBT Equality” list.
Corporate Engagement
Since 2008, Goldman Sachs has committed in excess of
$1.6 billion to philanthropic endeavors, including 10,000
Women, 10,000 Small Businesses and Goldman Sachs Gives.
While the amounts are significant, it is the quality and
effect of these programs that matter the most.
In 2012, each of our initiatives was expanded to include
new participants and partners, and today,
10,000 Women
and 10,000 Small Businesses reach small business owners
in more than 50 markets around the world, through a
network of nearly 200 academic and non-profit partners.
“Since the days of
our founding, we have
recognized that the
quality of our people
differentiates the firm
and will serve as
the cornerstone of
our success.”