Educational Institutions

The Consortium for Graduate Study in Management

  • Chesterfield, MO
  • http://www.cgsm.org

Mission Statement

The mission of the Consortium for Graduate Study in Management, an alliance of leading American business schools and some of our country's top corporations, is to enhance diversity in business education and leadership by helping to reduce the serious underrepresentation of African Americans, Hispanic Americans and Native Americans in both the member schools' enrollments and the ranks of management.

Main Programs

  1. Consortium Fellowships
Service Areas

Self-reported

National

Admission to The Consortium is open to any U.S. citizen or permanent resident who can show a demonstrated commitment to the mission of The Consortium.

ruling year

1971

Executive Director and CEO since 2003

Self-reported

Peter J. Aranda III

Keywords

Self-reported

minority, MBA, fellowship, African-American, Native-American, Hispanic-American

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Also Known As

CGSM

EIN

43-0962198

 Number

1248735280

Physical Address

229 Chesterfield Business Parkway

Chesterfield, MO 63005

Contact

Cause Area (NTEE Code)

Scholarships, Student Financial Aid, Awards (B82)

Graduate, Professional(Separate Entities) (B50)

Graduate, Professional(Separate Entities) (B50)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

Since its founding in 1966, The Consortium for Graduate Study in Management has successfully helped more than 9,000 of the country's best MBA students achieve their goals through collaboration and partnership with top-tier MBA programs across the country and more than 80 corporate partners representing Fortune 500 businesses and beyond.

We calculate that approximately 8 percent of the 10,000 MBA students attending top 25 MBA programs at any one time are underrepresented minorities -- African American, Hispanic American and Native American. Approximately half of that students have matriculated into these business school programs through their Consortium fellowship.

Since its founding, The Consortium has grown from three member schools -- Washington University in St. Louis; Indiana University-Bloomington; and the University of Wisconsin-Madison -- to 18. The most recent to join was Georgetown University in 2013.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

Consortium Fellowships

Tuition and fees (direct and indirect costs) are granted to selected minority students who have been admitted to the graduate schools of business or management at one of The Consortium's 18 participating universities.

Category

Education

Population(s) Served

Ethnic/Racial Minorities -- Other Specified Group

Ethnic/Racial Minorities -- General

Budget

30,000,000

Results

Self-reported by organization

How does this organization measure their results? It's a hard question but an important one. These quantitative program results are self-reported by the organization, illustrating their committment to transparency, learning, and interest in helping the whole sector learn and grow.

1. Number of participants engaged in programs

Target Population
People of African descent, Indigenous people, People of Latin American descent

Connected to a Program?
Consortium Fellowships
TOTALS BY YEAR
Context notes for this metric
For The Consortium's purposes, we track the number of students who become fellows of the organization and attend one of our member schools, making up the core of our mission.

2. Number of clients placed in internships

Target Population
People of African descent, People of Latin American descent, Indigenous people

Connected to a Program?
Consortium Fellowships
TOTALS BY YEAR
Context notes for this metric
Incoming first-year MBA students meet corporate partners at our annual Orientation Program, before school begins. Many are offered internships before class starts, or soon after.

3. Number of program participants who obtain a job within 3 months of program completion

Target Population
Indigenous people, People of African descent, People of Latin American descent

Connected to a Program?
Consortium Fellowships
TOTALS BY YEAR
Context notes for this metric
Refers to the number of students in each graduating MBA class who have reported receiving a full-time job within three months of graduating with their MBA.

4. Number of referrals to resources offered

Target Population
People of African descent, Indigenous people, People of Latin American descent

Connected to a Program?
Consortium Fellowships
TOTALS BY YEAR
Context notes for this metric
This category tracks, for our purposes, the number of applicants to The Consortium.

5. Dollars donated to support advocacy efforts

Target Population
Indigenous people, People of African descent, People of Latin American descent

Connected to a Program?
Consortium Fellowships
TOTALS BY YEAR
Context notes for this metric
Individual donations, corporate underwriting support and contributions from member schools for tuition remission.

Charting Impact

Self-reported by organization

Five powerful questions that require reflection about what really matters - results.

  1. What is the organization aiming to accomplish?
    The Consortium for Graduate Study in Management is committed to increasing the representation of African Americans, Hispanic Americans and Native Americans in American business schools and corporate management.

    Our approach is simple:
    We connect people, institutions and companies that have shown a commitment to our mission, and we position them for even greater success. Specifically, we foster a network of the country's best students, leading MBA programs and corporate partners, including Fortune 500 companies.

    The Consortium awards merit-based, full-tuition fellowships to top MBA candidates who have a proven record of promoting inclusion in school, in their jobs or in their personal lives.

    Our Mission
    The mission of the Consortium for Graduate Study in Management, an alliance of leading American business schools and some of our country's top corporations, is to enhance diversity in business education and leadership by helping to reduce the serious underrepresentation of African Americans, Hispanic Americans and Native Americans in both the member schools' enrollments and the ranks of management.
  2. What are the organization's key strategies for making this happen?
    Strategic Goal 1: Understand, improve and build The Consortium's value proposition for key stakeholders.

    Strategic Goal 2: Build brand recognition and reputation.

    Strategic Goal 3: Ensure the long-term fiscal health of The Consortium by continuously improving our value proposition for our current corporate partners and alumni in an effort to improve annual giving levels. Aggressively seek new areas of financial support from both corporate and private foundations. Concurrently, develop strategies to identify and secure new corporate partners with demonstrated commitment to diversity and inclusion. Continuously reinvest the proceeds from revenues generated into three primary areas; school distributions, staff training and development, and operating reserves.

    Objective 4: Increase individual donor funding from to $0.5MM annually by 2019 through the creation of a sustainable individual giving program, which includes alumni, students, friends and corporate matching gifts.

    Objective 5: Reinvest the increased revenue stream by funding additional school distributions, enhancing our ability to deliver constituent service and maintain a prudent level of reserves.
  3. What are the organization's capabilities for doing this?
    Staff: Our team of 20 works in a variety of areas to support our mission. We collaborate with our 18 member schools on recruiting students; we support alumni through outreach programs, alumni regional networks, and working with corporate partners and alumni to fill mid-career and executive job opportunities.

    Member schools: Our 18 dedicated top MBA programs across the country work closely with us to recruit students, prepare them for their MBA education and facilitate a community of similarly mission-oriented students.

    Corporate partners: More than 80 corporate partners provide support for operating activities through our annual fund and our annual five-day MBA preparation workshop/conference, the Orientation Program & Career Forum. There, more than 1,200 students, alumni, partners and school representatives gather for preparation workshops, networking events and social community building time.
  4. How will they know if they are making progress?
    The Consortium seeks to achieve its mission by addressing the needs of multiple constituencies. While the overarching goal of increasing diversity and inclusion is a shared one, the different players measure progress in disparate ways.

    STUDENTS
    The number of enrolled fellows is our über metric and over the past few years the program's size has increased dramatically.

    When the students graduate and enter the workforce in responsible positions, they serve as role models for capable diverse managers, thereby initiating a virtuous cycle which leads to even greater diversity across American business.

    SCHOOLS
    Schools seek to maximize the quantity and quality of their diverse student body, both to enhance the educational experience and attract a broader cross-section of employers to campus, who are likewise seeking to expand their diversity and inclusion programs.

    Making progress toward this goal manifests itself in a larger and deeper applicant pool that allows the schools to deploy their fellowship dollars to the most qualified candidates. In fact, Consortium member schools evidence more diverse classes than their non-member school counterparts.

    CORPORATE PARTNERS
    Corporate partners now recognize that the value of diversity has progressed from the “right thing to do" to a compelling business interest, as diverse teams have consistently outperformed less diverse ones in solving business problems.

    To help them achieve this goal, The Consortium offers early access to highly qualified students (as well as alumni) who are interviewed for management positions. The number of hires they make is carefully tracked.
  5. What have and haven't they accomplished so far?
    Despite these accomplishments, overall enrollment of underrepresented minorities at top full-time MBA programs is about 8 percent, compared to the 20 percent these groups represent in the overall population. Although the aforementioned results are evidence of our progress, significant strides are still necessary.
Service Areas

Self-reported

National

Admission to The Consortium is open to any U.S. citizen or permanent resident who can show a demonstrated commitment to the mission of The Consortium.

Social Media

Blog

Funding Needs

Philanthropic contributions to The Consortium for Graduate Study in Management are an investment in the MBA diversity pipeline – a pipeline that is extremely fragile. African Americans, Hispanic Americans and Native Americans represent less than 10 percent of the population attending the top 50 full-time graduate business schools.

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

CONSORTIUM FOR GRADUATE STUDY IN MANAGEMENT
Fiscal year: Jul 01-Jun 30
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

The Consortium for Graduate Study in Management

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair and Board Members
  • Access to the GuideStar Community
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Executive Director and CEO

Peter J. Aranda III

BIO

Appointed Executive Director and CEO of The Consortium in 2003, Peter Aranda brings with him first-hand knowledge of the organization as a Consortium alumnus.

Prior to managing a nonprofit, Peter achieved success in the business arena at Andersen Consulting, Price Waterhouse, MCA, and by running his own entertainment consulting company.

Notwithstanding his commercial endeavors, he also experienced success in academia by serving as an adjunct faculty or guest lecturer in business at Belmont University, ParsonÕs School of Design, University of Virginia, University of Southern California and Columbia University.

In addition, Peter has been involved with the PhD Project, whose mission is to recruit and support underrepresented minorities in an effort to create diverse business school faculties. Peter holds a bachelor of science with a concentration in Marketing from the University of Southern California. His undergraduate study also includes significant coursework in mechanical engineering.

He received a master of information management and MBA from Washington University in St. Louis and has completed all coursework, residency requirements and qualifying exams (ABD) for the Ph.D. degree, management of organizations division, at Columbia University.

Governance

BOARD CHAIR

David B. Wooten

Michigan Ross School of Business, University of Michigan-Ann Arbor

Term: July 2015 - June 2017

BOARD LEADERSHIP PRACTICES

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices. Self-reported by organization


RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?