Foundation Resources

The Coleman Foundation is proud of its lean approach to funding the Program, and hoped that the relatively low annual cost of the Program would help make it possible for Project Directors to replenish their budgets from other sources. Over ten years, the Foundation invested $4.7 million in the Coleman Fellows Program. This figure includes all Program costs except the value of Foundation staff time. As one of several Coleman Foundation entrepreneurship education grant programs, Fellows Program grants represented a fraction of the Foundation’s annual entrepreneurship funding, ranging from 8-37 percent—a median of 17 percent—of the total each year. The percentage varied by the number of participating schools and number of Fellows each year.

Expenditures

Over 10 years, $3.5 million in Fellowship grants supported the involvement of 33 schools and Project Directors and 850-plus fellowships. Annual grant funding included $5,000 per new Fellowship awarded, and could include up to $2,000 to support continued participation by prior-year Fellows. Project Directors had full discretion to decide, based on local factors, how these funds were deployed on their campus, how much would be used as a Fellow stipend, and what amount, if any, would be used by the Project Director to cover costs of managing the program (including an optional co-director or graduate student assistant). Applicants could also ask for Program Support Funds, up to $5,000 per campus, to augment Fellowship grant funds; these could be used to compensate Project Directors, codirectors, or assistants, or for other purposes directly related to the Program. Annual grants averaged $21,500 per school. Total grants from the Coleman Foundation ranged from $199,000 to $575,000 per year.

The Program began in 2009, with McCain responsible for implementation and management, and Berardi identifying prospects and reviewing grant applications, while Hennessy’s involvement became advisory. All three participated in annual summits and were readily available to grantees, to talk through questions and troubleshoot as needed. Three times during the Program year proved most demanding for staff: (1) The spring period, when staff sent the annual RFP to selected schools, reviewed applications, and prepared grant recommendations to the Board; (2) Summit preparation during the summer and attendance in early fall; (3) February review of interim grant reports and June review of final reports, with subsequent progress reports to the Board.

Approximately 20 percent of McCain’s time focused on the Program in its first years. The retention of Roberts in the second year recognized the need for a director to devote more time and attention to developing and running the Program. His rare combination of entrepreneurial and pedagogical experience and content knowledge was invaluable. Roberts worked approximately 20 to 25 hours per week on the Program.

Foundation Resources

The Coleman Foundation is proud of its lean approach to funding the Program, and hoped that the relatively low annual cost of the Program would help make it possible for Project Directors to replenish their budgets from other sources. Over ten years, the Foundation invested $4.7 million in the Coleman Fellows Program. This figure includes all Program costs except the value of Foundation staff time. As one of several Coleman Foundation entrepreneurship education grant programs, Fellows Program grants represented a fraction of the Foundation’s annual entrepreneurship funding, ranging from 8-37 percent—a median of 17 percent—of the total each year. The percentage varied by the number of participating schools and number of Fellows each year.

Expenditures

Over 10 years, $3.5 million in Fellowship grants supported the involvement of 33 schools and Project Directors and 850-plus fellowships. Annual grant funding included $5,000 per new Fellowship awarded, and could include up to $2,000 to support continued participation by prior-year Fellows. Project Directors had full discretion to decide, based on local factors, how these funds were deployed on their campus, how much would be used as a Fellow stipend, and what amount, if any, would be used by the Project Director to cover costs of managing the program (including an optional co-director or graduate student assistant). Applicants could also ask for Program Support Funds, up to $5,000 per campus, to augment Fellowship grant funds; these could be used to compensate Project Directors, codirectors, or assistants, or for other purposes directly related to the Program. Annual grants averaged $21,500 per school. Total grants from the Coleman Foundation ranged from $199,000 to $575,000 per year.

The Program began in 2009, with McCain responsible for implementation and management, and Berardi identifying prospects and reviewing grant applications, while Hennessy’s involvement became advisory. All three participated in annual summits and were readily available to grantees, to talk through questions and troubleshoot as needed. Three times during the Program year proved most demanding for staff: (1) The spring period, when staff sent the annual RFP to selected schools, reviewed applications, and prepared grant recommendations to the Board; (2) Summit preparation during the summer and attendance in early fall; (3) February review of interim grant reports and June review of final reports, with subsequent progress reports to the Board.

Approximately 20 percent of McCain’s time focused on the Program in its first years. The retention of Roberts in the second year recognized the need for a director to devote more time and attention to developing and running the Program. His rare combination of entrepreneurial and pedagogical experience and content knowledge was invaluable. Roberts worked approximately 20 to 25 hours per week on the Program.

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