Lizzie & Martin take on the NYC Half Marathon

A team for Robin Hood Foundation

  • $645
    Raised
  • 22
    Donors
  • 1
    Fundraiser

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$645 raised of $600

Lizzie Littlejohn and Martin Corrigan, Mountbatten Institute interns at Deutsche Bank on Wall Street, do the New York City Half Marathon, on behalf of the Robin Hood Foundation (20-Mar-2011)

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Lizzie & Martin take on the NYC Half Marathon

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The Robin Hood Foundation is a charitable organization, which attempts to alleviate problems caused by poverty in New York, United States.

Founded in 1988, Robin Hood was the brainchild of hedge fund manager Paul Tudor Jones. In 2006, the board of directors included such names as Jeffrey Immelt, Diane Sawyer, Harvey Weinstein, Marie-Josee Kravis, Lloyd Blankfein, of Goldman Sachs, Richard S. Fuld, Jr., formerly of Lehman Brothers, Glenn Dubin, of Highbridge Capital, Marian Wright Edelman and actress Gwyneth Paltrow. The foundation combines investment principles and philanthropy to assist programs that target poverty in New York City. Artists including The Rolling Stones, Robert Plant & The Strange Sensation, Shakira, John Legend, The Who and Aerosmith have performed at the group's annual galas.

In 2009, George Soros gave the foundation a US$50 million contribution. The money reportedly helped the organization raise significantly more than that amount.

According to Fortune Magazine, "Robin Hood was a pioneer in what is now called venture philanthropy, or charity that embraces free-market forces. An early practitioner of using metrics to measure the effectiveness of grants, it is a place where strategies to alleviate urban poverty are hotly debated, ineffectual plans are coldly discarded, and its staff of 66 hatches radical new ideas."

More specifically, the foundation states that it applies the following principles:

* Give 100 percent of every donation directly to programs helping poor New Yorkers.
* Identify and stop poverty at its roots.
* Protect and leverage Robin Hood’s investments by using sound business principles to help programs become more effective.
* Use metrics and qualitative data to evaluate programs and measure results to compare the relative poverty-fighting success of similar programs.

The Robin Hood Foundation works with more than 240 nonprofit organizations in New York. The categorize their programs into "Core fund recipients" and "Relief fund recipients". Core fund recipients consist of four portfolios; early childhood, education, jobs and economic security, survival. Relief fund recipients established to assist low income victims of the 9/11 attacks address employment, lower income victims' services and relief, mental health services in addition to other grants.

The Robin Hood Foundation was featured in Fortune's 18 September 2006 issue, where the article states that the foundation is "one of the most innovative and influential philanthropic organizations of our time."

Team Captain

Martin C Martin C