Description
During this such a criteria in regard to transforming students into business professionals and entrepreneurs.
2014-15 ANNUAL REPORT
2 3 2014-15 Annual Report Virtual Enterprises International
LETTER FROM THE EXECUTIVE DIRECTOR
Sincerely,
Iris Blanc
Executve Director
Ashley Fina
Board of Directors, Chair
Dear Friends,
The following Annual Report chronicles an amazing year of
growth for VEI—our fourth as a natonal non-proft charged
with scaling-up the live global business simulaton that was
frst piloted in 1996 by the New York City Department of
Educaton. Thanks to our growing community of partners and
supporters, we invested $1.6 million in transforming students
into business professionals and entrepreneurs, unleashing
talent and innovaton among 11,000 students across 360
schools and 18 states. We’ve watched in awe as our students
have come up with incredible business ideas and worked trelessly as a team of
colleagues to meet their company’s botom line. We’ve been proud to follow VEI
alumni as they start real businesses—drawing upon the skills and vision they developed
in our program.
This past year has been one of bold new ventures for VEI. We piloted the VE-JV Middle
School Career Academy, which we developed with support from the New York Life
Foundaton to create pathways for middle school students to become tech-savvy
entrepreneurs. We brought another real-world element into our simulaton through
the VEI Market Insights Tool. Designed with support from Standard & Poor’s, the tool
provides our students with real-tme analytcs on VEI company and global economic
performance. We gathered teachers from across the country for our frst-ever VEI
Summer Teachers’ Conference. With funding from the James Irvine Foundaton, we
piloted our program as a strategy for meetng the goals of California’s Linked Learning
Initatve, a groundbreaking efort to integrate academics with work-based learning to
prepare students for college and careers.
It takes a solid foundaton for organizatons to reach these kinds of new heights. For
nearly two decades, we’ve witnessed the life-changing power of our program, which
brings innovatve and relevant learning to youth. We are proud to be looking ahead to
celebratng our 20
th
anniversary in 2016, and grateful to the many educators, industry
professionals, and business partners around the country that have made it possible for
us to contnue to grow as an organizaton. As we enter a new year, we plan to contnue
to think big and aim high, working with the business and educaton communites to
engage with students and create a dynamic, diverse workforce for the rapidly-changing
future.
VEI is a natonal educatonal nonproft that transforms students into
young professionals by giving them the opportunity to create and
run business ventures in their classroom. We partner with educators,
business leaders, and industry professionals to develop the best talent
pipeline in the country. We currently serve 12,000 students across the
U.S., many from underserved communites.
VEI transforms students into business professionals by
bringing the workplace into the classroom.
For more informaton, visit veinternatonal.org
4 5 2014-15 Annual Report Virtual Enterprises International
500
Companies
VE-JV Middle School Career Academy
VEI is introducing a new era in middle school educaton with the launch of the VE-JV
Career Academy, a two-year program that will enable 7th and 8th graders to develop
technology and entrepreneurial skills by startng and managing business ventures. With
support from the New York Life Foundaton, VEI is pilotng the VE-JV Career Academy in
New York City public schools and three other cites.
Market Insights Tool
With funding from Standard and Poor’s, VEI developed and released a web app that
provides real-tme analytcs for key metrics within VEI’s economy such as number and
value of bank transactons, market categories and sizes, and company and natonal
fnancial performance.
National Teachers’ Conference
VEI ran our frst-ever VEI Summer Teachers’ Conference hosted at Long Island
University C.W. Post, gathering together 80 teachers from more than 70 schools for a
week of professional development, workshops, and networking.
VEI as an In-School Internship Model
With funding from the James Irvine Foundaton, VEI partnered with four Linked
Learning high schools in the Los Angeles Unifed and Long Beach Unifed School
Districts to pilot VEI as an in-school internship model. Linked Learning integrates
rigorous academics with career-based learning and real-world workplace experiences.
Harder + Company conducted an independent evaluaton of this VEI-Linked Learning
pilot.
National Website Competition
Throughout the months of January and February, 347 actve websites developed and
managed by VEI frms received ratngs and constructve feedback from a pool of 250
business mentors, educatonal administrators, and alumni.
Portal Updates
The Portal became the “homepage” of VEI, where students, teachers, and
administrators fnd curriculum tasks and resources, the U.S. and internatonal banking
system, and other tools for partcipatng in the VEI global business simulaton.
Welcomed
Texas
$700 Million
GDP
3,031
Total Competition
Entries
18
States
100
Competitions
11,000
Students
4,000
Youth Business
Summit Participants
370
Business Plan
Entries
11
Trade Shows
360
Schools
Welcomed
Florida
NEW INITIATIVES
6 7 2014-15 Annual Report Virtual Enterprises International
“We get once-in-a-lifetme opportunites
to acquire business and real-world
experiences inside of our classroom and
develop skills that we can take with us and
use in the future.”
Usha Sookai, Class of 2019
CEO, Mofex (VE-JV Career Academy)
M.S. 137 America’s School of Heroes
Ozone Park, NY
“Launching my own clothing line has been
a dream of mine for a long tme. Thanks to
VEI, it no longer seems like just a dream.”
Mike Claustro, Class of 2015
CEO, City of Angels
High School of Business and Tourism
Miguel Contreras Learning Complex
Los Angeles, CA
“For the very frst tme in my life, I recognized
I was able to lead, and I loved it. I have
become the Chief Operatng Ofcer of my
life.”
Richmond Anyetei, Class of 2015
COO, T-Squared
Jacqueline Kennedy Onassis High School
New York, NY
Addressing a National Crisis
The most pressing issue facing U.S. employers is the talent crisis. While hiring managers
are struggling to fnd the right people for their organizatons
1
, the latest Gallup polls
show that 50% of Americans believe that students are leaving school unprepared for
the workplace
2
, lacking the professional skills and behaviors to be successful. Even
students who are beter equipped lack the tme and space needed to experience
entrepreneurship in a way that positons them to unleash their full potental along their
career paths, whether as entrepreneurs or as “intrapreneurs” within a larger company.
VEI tackles both issues by developing a talent pipeline of tech-savvy future business
leaders and entrepreneurs prepared to fuel growth in diverse sectors of the economy.
Our Impact in 2014-15
As an in-school program that consistently produces strong results
3
, our model is poised
to scale throughout the educatonal system to meet the biggest challenge in addressing
career readiness: providing youth with in-depth work experience before they leave high
school so that they can hit the ground running as young professionals.
73% of students identi?ed
a career pathway of
interest through VEI
85% of VEI students
learned to collaborate
and work as part of a
team
83% of VEI students used
technology as applied in
business
97% of VEI students
graduate from high
school
77% of VEI students
developed leadership
skills
92% of VEI graduates
enroll in college or trade
school
77% of students say VEI
made them feel more
con?dent in their abilities
1
TalentShortageSurvey,2012,The
ManpowerGroup
2
2012U.S.GallupStudentPoll
3
Basedon2,542anonymousexitsurvey
responsesfromVEIstudents
8 9 2014-15 Annual Report Virtual Enterprises International
Food &
Beverage
Electronics
& Computers
Health &
Beauty
Travel &
Tourism
Novelty
Party &
Celebration
Business
Services
Clothing &
Accessories
Sports &
Leisure
Entertainment
T-Squared is an entertainment and
advertsing frm that specializes in
entertaining viewers with the latest in news
and pop culture.
___________________________________
$330,866 in total annual sales
50% growth from previous year
Natonal Business Plan Competton Finalist
T-Squared
Entertainment
Jacqueline Kennedy Onassis HS
New York, NY
Returning Firm
Elysium Computer Systems provides
innovatve and efcient products that
improve the lives of consumers and the
environment.
___________________________________
5-star website
Natonal Business Plan Competton Finalist
A leading subscripton-based, gif-giving
company that provides a selecton of unique
products geared to a specifc individual’s
wants.
___________________________________
Long Island Business Plan Competton
Finalist
Elysium
Electronics & Computers
Bearden HS
Knoxville, TN
Returning Firm
Boxality
Novelty
J.F. Kennedy HS
Bellmore, NY
New Firm
10 11 2014-15 Annual Report Virtual Enterprises International
Food &
Beverage
Health &
Beauty
Travel &
Tourism
Business
Services
Furniture
Real
Estate
Books, E-books,
DVDs, Video
Toys &
Games
Software
Clothing &
Accessories
FITspiraton is a health-and-wellness
company focused on helping people form
smart habits that last a lifetme.
___________________________________
Natonal Business Plan Competton Finalist
FITspiration
Health & Beauty
Robbinsville HS
Robbinsville, NJ
New Firm
Life’s PURiTEA sources the fnest natural
ingredients from around the world and
brews its tea with pure carbon-fltered
spring water.
___________________________________
1st Place in Natonal Business Plan
Competton
Life’s PURiTEA
Food & Beverage
Byron Nelson HS
Trophy Club, TX
New Firm
City of Angels ofers travel tours in Los
Angeles for young adults.
___________________________________
A frm made possible as a Linked Learning
initatve with the James Irvine Foundaton
City of Angels
Travel & Tourism
School of Business and Tourism
Los Angeles, CA
New Firm
12 13 2014-15 Annual Report Virtual Enterprises International
445 School
Participations*
581 Student
Business Participations*
11 Trade Shows
*some student businesses and schools partcipated in multple shows
SAN FRANCISCO, CA
BAKERSFIELD, CA
LONG BEACH, CA
SAN DIEGO, CA
CHICAGO, IL
NEW YORK, NY
PIGEON FORGE, TN
NORFOLK, VA
ROCHESTER, NY
MYRTLE BEACH, SC
FARMINGDALE, NY
National
• Business Plan
• Website (New)
Regional & Local
• Brochure
• Business Card
• Catalog
• Commercial
• Elevator Pitch
• HR Scenarios
• Marketng Plan
Presentaton
• Newsleter
• Salesmanship
• Trade Show Booth
Trade Shows
VEI ofers students the opportunity to partcipate in local, regional, natonal, and
internatonal Trade Shows. Trade Shows are a central component of VEI’s program and
allow student businesses to exhibit and sell their products and services in a compettve
marketplace, while bringing together VEI’s network of educators and industry partners.
2014
COMPETITIONS
2015
Competitions
Compettons ofer students the opportunity to
demonstrate their skills and knowledge in diferent
business domains, generate business for their VEI
frms, garner real-world feedback from a diverse pool
of judges, and evaluate their performance compared to
their peers.
3,031
Total Competition
Entries
100
Competitions
Nationwide
7,400
Student
Participants
370
Business Plan
Entries
Business Plan Competitions
Business Plan Compettons are another major
component of VEI’s program. Each year, student
companies are expected to develop and submit a writen
business plan and enter a local competton to present
their plans to industry professionals and educators.
Top-performing teams from around the country earn the
chance to compete at regional compettons to qualify
for the Natonal Business Plan Competton, held each
spring in New York City.
14 15 2014-15 Annual Report Virtual Enterprises International
The Youth Business Summit is VEI’s signature three-day event, ofering students
multple opportunites to demonstrate their skills, knowledge and diverse talents in
entrepreneurship, communicatons, technology, and global business management—
key components of the VEI program.
Global Business Challenge | Natonal Business Plan Competton | Internatonal Trade Show
287
Students
*102 International
26
Judges
153
Student Businesses
39
Judges
24
Teams
34
Judges
Global Business
Challenge
International
Trade Show
National
Business Plan
Competition
(NBPC)
Partcipatng States: California, Florida, Illinois, Massachusets, Michigan, New
Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas,
and Washington D.C.
Partcipatng Countries: Albania, Austria, Belgium, Brazil, Bulgaria, Germany,
Indonesia, Israel, and Romania
Inspiring Keynote Speakers: Vicky Free, EVP of Marketng and Chief Marketng
Ofcer of BET Networks, delivered a keynote speech at the Global Business
Challenge on how to thrive in business and Jim Donald, CEO of Extended Stay
America and Former CEO of Starbucks, inspired students to fnd their “Fish Story”
during the NBPC.
A First-Year Firm in First: Life’s PURiTEA of Byron Nelson HS from Trophy Club, Texas
accomplished a rare feat for a frst-year frm by becoming a frst-place winner at the
Natonal Business Plan Competton.
State-of-the-Art Transactons: U.S. Network Bank Credit Cards were used for the
frst tme at the 4,000 partcipant, sold-out Internatonal Trade Show.
•
•
•
•
•
The 2015 Youth Business Summit took place in New York City between April 13 -15 and
included the following three major events:
Global Business Challenge
Students work in multnatonal teams to identfy the challenges, opportunites, and
risks involved in a global business by examining a college-level business case study.
Afer two hours of analysis and deliberaton, teams present their fndings to a panel of
judges.
National Business Plan Competition
Students from across the country demonstrate their global business expertse through
writen business plans and oral presentatons. The competton showcases best
practces, rewards excellence, and allows students to apply sophistcated knowledge
and skills atributed to business professionals and college students.
International Trade Show
Student businesses from around the world exhibit and sell their products and services
in a compettve marketplace.
16 17 2014-15 Annual Report Virtual Enterprises International
Summer Teachers’ Conference
Eighty new and returning VEI teachers from California, Illinois, Michigan, New Jersey,
New York, North Carolina, South Carolina, Tennessee, and Texas atended our frst-ever
VEI Summer Teachers’ Conference, which was hosted at Long Island University, C.W.
Post Campus. Over 70 schools were represented as teachers partcipated in four days
of networking, professional development, workshops, guest speakers, and partner
events.
“VEI gives students a true work-to-learn model of educaton. Each student in the
program has a unique learning experience as they work in their specifc role in
the company. There is no other program like this anywhere in public educaton. I
wish every kid could have this experience.”
Alan Gersten, Century High School, Santa Ana, CA
“Every day VEI students demonstrate the passion that they have for their
business, while exhibitng the leadership and professional skills that provide a
stepping stone toward a successful fututre.”
Soteria Stavroulakis, NYC Program Coordinator
“My favorite part of the VEI experience is seeing the growth in my students from
the beginning of the year to the end. Students have an opportunity to fail in a
safe environment and recognize that it is okay to fail, and learning from failure
can be very valuable.”
Kendra Lee, St. Charles North HS, St. Charles, IL and IL Program Coordinator
“I love watching my students frantcally strive to meet deadlines, increase market
share, develop new products, and communicate with business people. VEI is a
self-motvatng program that keeps students engaged and eager to learn.”
Amy Demchak, Westhampton Beach HS, Westhampton Beach, Long Island
“As a former business professional, I enjoy how much this class truly simulates
the real business world. I feel privileged to be involved with a segment of
educaton that I know is preparing students to be successful later in life. The
‘golden egg’ in educaton has already been discovered in VEI!”
Kathy McCoy, Bearden HS, Knoxville, TN
“I had students who had no idea what they wanted to do, students who could’ve
been high-school dropouts, students from high means and low means, from
all kinds of life. Now they’re focused. They know what they want to do, they’re
prepared, and they can’t wait to go out into the real-world. They started
teaching me a few new things because they became so immersed in business.”
Antonio Banos, Byron Nelson HS, Trophy Club, TX
“As we started in August, I was more prepared to guide my students in our
second year with VEI. I gained tremendous knowledge and great ideas not only
from the amazing VEI staf but also from the many VEI teachers that I have met
this past year. In just one year, I have seen VEI implement many positve changes
and improvements, and a lot of the progress comes from getng feedback from
VEI teachers. This process of communicaton makes VEI a successful venture and
a stronger business model for students and teachers alike.”
Darrel Iki, School of Business and Tourism, Los Angeles, CA
TEACHER
TESTIMONIALS
18 19 2014-15 Annual Report Virtual Enterprises International
Business Partners
Business partners play an integral role in the VEI experience inside and outside the
classroom. In the classroom, industry professionals ofer guidance and feedback
aligned with their areas of business expertse as students plan, launch and grow their
ventures. Outside the classroom, business partners inspire students to expand their
business knowledge and help students hone their professional skills and workplace
competencies by hostng them as interns and serving as competton judges, guest
speakers and workshop facilitators at VEI events. In turn, VEI students serve as a
valuable talent pipeline for the businesses that partner with us and for tomorrow’s
workforce.
Some of the partners we had the privilege of working with in 2014-15:
20 21 2014-15 Annual Report Virtual Enterprises International
$1,000,000+
New York Life Foundaton
$100,000+
HSBC
$50,000+
The James Irvine Foundaton
JPMorgan Chase & Co.
McGraw Hill Financial
$25,000+
Capital One
$10,000+
Bank of America
Joseph and Nancy Delaney
Michael C. Fina
Royal Bank of Canada Capital
Markets
Jefrey Mayer
Randy Reif
Morris and Helen Messing Family
Charitable Fund
Michael Nierenberg
Jay Novik, SBLI USA Life
Insurance Company, &
Amerilife Group
Paul Richards
Royal Bank of Scotland Securites
Kevin C. Tang Foundaton
Elaine Taylor-Gordon
Viacom
United Federaton of Teachers
Joshua Weintraub
Wilson Sonsini Goodrich & Rosat
Foundaton
Christopher Whitehouse
Foundaton
$1,000+
ACORD
Steven and Elyse Alper
American Portolios
Leo and Nicole Arnaboldi
Alan and Catherine Bain
Withers Bergman
Mitchell and Ronda Benson
Ron Bezoza
Kerry Blum
Marie Booras
Bryn Canner
Gail Chasin
Candice Chen
Jo Ann Chester
Jane Cisnens
Eric Contreras
Richard Cross
Karen Dhennin
David Dietche
Robin Dolch
Elisabeth and Scot Domansky
Anne Donnelly
Scot and Tami Eisenberg
Jef Farin
Jane Fina
Ruth Boone Fulton
Steven Gan
Terence Greene
Ilka Gregory
Jennifer Gross
Beth Grossman
Robert Herlihy
Bing Ying Hu
Marsha Iverson
Yoora Joro
Grace Kim
Richard Krasner
Lynda Lazzari
Barbara Levey
Melanie and Scot Litle
Michael Majcherczyk
Ellen and Roger Palazzo
James Raezer
Doug Rozman
Sarah Salanic
Cherie and Daniel Serota
Adam Shapiro
Lena Sun
Grace Vanderaze
Laura Wang
Sarah Witer
Adam Yafei
$5,000+
Eddy Bayardelle
Mathew and Pamela Chasin
Kimberly Cline and Peter
Fishbein
Council of School Supervisors
and Administrators
Paul and Niamh Cronin
Deloite LLP
Digital Risk/Jefrey Taylor
T.J. Durkin
Scot and Kate Eichel
FedEx
Ashley Fina and Family
Moe and Farin Fodeman
Charlote Frank
Steve Gordon
Adam Gross
Steve and Marcee Israel
Long Island University
Mercy College
Lloyd Bromberg
Michael Coneys
John Contant
Ronald Critelli
Crown Trophy
Felicia Demos
Randy Di Tata
Joseph Dussich
Tom and Cashie Egan Family
Foundaton
Jesse Elhai
Don Epstein/Greater Talent
Network
Fairleigh Dickinson University
Phyllis Frankfort
Pamela Friedman
Michael Goldman
Karen Grinthal
Hirshleifers, Inc.
Gary Israel
Yong Joe
Sandy Kloepfer
Bernadete Krifcher
Krifcher Family Charitable Fund
Jerry and Wendy Labowitz
Michael Levine
Eloise Messineo
Mark Mindich
Nan Morrison
Melanie Mortmer
The University of Notre Dame
Alumni Club
Ofce Equipment Company
Bret and Katharine Parker
Caralene Robinson
Mat Schafnit
Becky and David Schamis
Joshua Siegel
Manish Somaiya
Gaetana Surdi
Kathryn Swintek
Michele Chow-Tai
Ayesha Mathews Wadhwa
Lisa Weinberg
Doug Young
Karen and Ken Ziman
$100+
Jefrey Alexander
Bob Alter
Daniel Bernstein and Nancy
Langsan
Stephen M. Beyer
Jaime Blanc
Jean Alter Bohm
The Boone Family Charitable
Fund
Barbara and Timothy Boroughs
Niko and Uyen Canner
Dave Cannon
Kenneth Colao
Michael Demetriou
First Niagara Financial Group
Jennifer Fitzgibbon
Doug Goldfein
Lynne Greene
Goldman Sachs Gives
Brad and Sandra Harris
Gerard Haughey
Lesley and Richard Herrmann
Leslee Heskiaof
ICAP
Eric and Sandra Krasnof
Jay and Robin Lewis
Barry Lippman
Mary Pisarkiewicz and Steven
Mazur
Robert Miglani
Douglas Millowitz
Charles and Carol Muterperl
Maria Rianna
Geofrey Richards
Adolph and Ruth Schnurmacher
Foundaton
Jay Shaw
Doug and Fabienne Silverman
Danielle Strle
TD Bank
Rajeesh Tiwary
$500+
Anchin, Block & Anchin LLP
Bareburger Group LLC
Mike Beck
Jason Biegel
Charles and Karen Bendit
Charlote Beyer
Mathew and Mary Boone
Jason Borg
Brian Boufarah
Third Annual Evening to Bene?t Virtual Enterprises International
On April 15, over 400 supporters from the business and educaton communites packed Tribeca
Roofop to celebrate VEI’s eforts to drive the future of business and innovaton. VEI students
presented their businesses and shared their personal stories of transformaton. VEI honored
HSBC with the Global Citzen Award, Harold “Terry” McGraw III, Chairman of the Board of
McGraw Hill Financial, with the Crystal Leadership Award, and Dr. Kimberly Cline, President of
Long Island University, with the Dr. Noel N. Krifcher Service to Educaton Award. New York Life
Foundaton presented a $1 million check to VEI to pilot the VE Junior Ventures Middle School
Career Academy.
22 23 2014-15 Annual Report Virtual Enterprises International
“My VEI experience was amazing. It taught me how to be a leader and how to
infuence others. It gave me the opportunity to fgure out at a young age how
the real world works.”
Summer Cruz, Richmond Hill High School, Richmond Hill, New York
“VEI let me practce the skills I learned taking other classes and it showed me
real-world applicatons to what I want to do afer college.”
Brennen Hayes, Spartanburg High School, Spartanburg, South Carolina
“VEI was a great opportunity to express my talents while building a strong team
as well as friendships.”
Damon Lanum, Northwest High School, Justn, Texas
“I had quite an extraordinary experience with VEI. I have faced many challenges
and obstacles in this program that helped me grow into a successful young
woman ready to take on the corporate professional world. It was a very
humbling experience that I feel grateful to have been a part of.”
Kayla Adams, The High School of Fashion Industries, New York, New York
“Before VEI I was scared to go to college and grow up, but now I am confdent
that I will have a bright future. I can now say that I am not afraid to get up in
front of a crowd and present. In many ways I would not be the person I am today
without VEI.”
Mikayla Dunn, Laingsburg High School, Laingsburg, Michigan
“VEI opened my eyes to the endless possibilites that the business world has to
ofer. I never realized all that goes into taking an idea and developing it into a
fully-functoning business. It motvated me.”
Nicholas Kallas, Elmwood Park High School, Elmwood Park, Illinois
“We see more and more that our customers aren’t able to fnd the talent
they need to support their business. VEI is preparing students for their future,
allowing them to fnd college and career paths of their choice.”
Ashley Fina, President, Michael C. Fina & Company
“We want to bring VEI students on as interns, follow them through college, and
bring them on as future Viacom employees. The students are very curious about
our industry and appreciatve of our eforts.”
Fukiko Ogisu, Senior VP, Viacom
“I’ve judged the Business Plan Competton and Trade Show. When you think
about what the students are learning—from developing a business concept to
marketng that business to other students—it’s what they’re going to need in
college and in life.”
Dr. Kimberly Cline, President, Long Island University
“VEI students are the leaders of tomorrow. They are providing innovatve
ideas and solutons to business challenges that people who have been in
business haven’t even thought about. What makes VEI unique is that it’s a true
partnership among the superintendent, the school district, the principal, the
teacher, the student, and, of course, the parents.”
Ray Johnson, VP, Corporate Sustainability, HSBC Bank USA, N.A.
“I’m a two-tme judge and I’ve had a great tme working with the kids, talking
with them, mentoring them, and learning from them. VEI is creatng lots of value
for the students, the schools, and the community at large, and I’m proud to be
part of it.
Joshua B. Siegel, General Partner, Rubicon Venture Capital
“When I found out about VEI, it told the story of my life as an entrepreneur. I
wish I had this type of learning when I was in high school.”
Jefrey C. Taylor, Co-Founder & Managing Partner, Digital Risk, LLC
FROM OUR
BUSINESS PARTNERS
FROM OUR
CLASS OF 2015
24 25 2014-15 Annual Report Virtual Enterprises International
Board of Directors
Mathew Boone,FinancialReportngManager,OpenX
Mathew Chasin,ManagingDirector,RoyalBankofCanada—ViceChair
Michael Coneys,LegalServices,NewYorkCityDepartmentofEducaton—RecordingSecretary
Paul Cronin,SeniorManagingDirector,FirstNiagaraFinancialGroup
Joseph Delaney,DirectorofNortheastAlumniRelatons,DeloiteLLP(ret.)
Carmen Fariña,Chancellor,NewYorkCityDepartmentofEducaton
Ashley Fina,President,MichaelC.Fina&Company—Chair
Morris Fodeman,Partner,WilsonSonsiniGoodrich&Rosat
Charlote Frank,Ph.D.,Sr.VicePresident,McGraw-HillEducaton
Steve Israel,PresidentandCEO,SMIPropertes
John Lucas,SeniorVicePresident,HSBCNorthAmerica
Dean McGee,AssistantSuperintendent,KernHighSchoolDistrict
Joe Perrone,DistrictManager,FedEx
Mat Schafnit, ChiefOperatngOfcer,lenditapp—Treasurer
Jefrey Taylor,Co-FounderandManagingPartner,DigitalRisk
VEI National Team
Iris Blanc,ExecutveDirector
Nick Chapman,NatonalProgramDirector
Bryn Canner,DirectorofDevelopment
Tyler Fugazzie,MarketngandCommunicatonsManager
Rachel Robins,EventsandPartnershipsManager
Nolan Leung,TechnicalProjectsSpecialist
Saara Arshid,ProgramAssociate
Christna Young,GraphicDesigner
VEI Regional Team
Cindy Boyd,MidwestandSouthernRegionalDirector
Kristen Callahan,CollegeNetworkProgramDirector
James Caracciolo,NewYorkCityInstructonalSupportSpecialist
Tom Cook,NorthCarolinaStateCoordinator
Tyshawn Davis,NewYorkCityWork-BasedLearningCoordinator
Rhonda Doak,Mid-AtlantcRegionalDirector
Polly Farina,NorthernCaliforniaRegionalDirector
Kathy Gielow,NortheastRegionalDirector
John Jastremski,NewYorkCityRegionalDirector
Teri Jones,SouthernCaliforniaRegionalDirector
Kendra Lee,IllinoisStateCoordinator
Ellen Palazzo,LongIslandRegionalDirector
Penny Riddle,MidwestProgramCoordinator
Wendy Schmit,MichiganStateCoordinator
Soteria Stavroulakis,NewYorkCityProgramCoordinator
Irv Wortman,LongIslandProgramCoordinator
Thanks to our VEI community, this year we invested
$1.6 million in creating the next generation of
business leaders and entrepreneurs.
Sources of
Revenue
23.2%
Program Services
11.2%
Special Events
14.6%
Corporations
51.0%
Foundations
82.8%
Program Services
7.9%
Administrative
and General
9.3%
Fundraising
Expenses
26 27 2014-15 Annual Report Virtual Enterprises International
OUR SCHOOLS
Schools that implemented the VEI program during the 2014-15 school year:
High Schools
Abraham Lincoln HS
Academy of Scholarship &
Entrepreneurship
Academy for Technology
and Academics
Academy of Finance &
Enterprise
Academy of The Canyons
Advanced Technology
Center
Airport HS
Allentown Central
Catholic HS
Alpena HS
Anderson County C&T
Antelope Valley HS
Armijo HS
Arroyo Valley HS
Arvin HS
Ashland HS
Auburn HS
Augustus F. Hawkins HS
Austn Business and
Entrepreneurship
Academy
Ayala HS
Babylon HS
Bakersfeld HS
Banning HS
Bartlet Yancey HS
Bay Arenac ISD Career
Center
Bearden HS
Bellport HS
Belvidere HS
Belvidere North HS
Bennet HS
Berks Career And
Technology
Blackman HS
Bloomington HS
Boonton HS
Bridgehampton HS
Bronx Community HS
Bronx HS of Business
Business, Computer
Applicatons &
Entrepreneurship HS
Business of Sports School
Byron HS
Byron Nelson HS
Cabrillo HS
California City HS
Cane Bay HS
Cannon County HS
Canyon Springs HS
Carbondale Area HS
Careerline Technical Center
Carlsbad HS
Carman Ainsworth HS
Carolina Forest HS
Carpinteria HS
Careerline Tech Center
Carson HS
Cary-Grove HS
Cedar Ridge HS
Centennial HS
Century HS
Channel Islands HS
Charles H. Bohlen Technical
Center
Charleston Charter School
Charter Oak HS
Cherokee HS
Chesterfeld HS
Citrus Valley HS
Claremont HS
Climax Scots HS
Clinton HS
Clio HS
Coachella Valley HS
Cold Spring Harbor HS
Collinsville HS
Connetquot HS
Cookeville HS
Cordova HS
Corning HS
Corunna HS
Costa Mesa HS
Counsino HS
Creek Wood HS
Crenshaw HS
Crestwood HS
Crystal Lake Central HS
Crystal Lake South HS
Cuyahoga Falls HS
Davison HS
Dekalb County HS
Denbigh HS
Diamond Bar HS
Dos Palos HS
Dos Pueblos HS
Duarte HS
Dutch Fork HS
Eagleville HS
East Bakersfeld HS
East Hamilton HS
East Hampton HS
East Islip HS
East Meadow HS
Eastern Guilford HS
Edward R. Murrow HS
Elisabeth Ann Johnson HS
Elizabeth Learning Center
Estancia HS
Ewing HS
Fairfeld Career & Tech
Center
Farragut HS
Fenton HS
First Colonial HS
Flint Northwestern HS
Flint Southwestern Classical
Academy HS
Floyd E. Kellam HS
Flushing HS
Forest Hills HS
Fountain Valley HS
Four Walls Career and
Technical Educaton
Center
Francis Lewis HS
Frank W. Cox HS
Franklinton HS
Freeport HS
Fresno HS
Fruitport HS
Ft. Hamilton HS
G. W. Hewlet HS
Gardena HS
GASC Technology Center
Geneva CUSD #304
George Washington HS
Gibson County HS
Glen Cove HS
Golden West HS
Grand Blanc HS
Grand Ledge HS
Granville Central HS
Great Oak HS
Greenville HS Academy
Greer HS
Grover Cleveland HS
Guilford HS
Hamilton County
Hanover Park HS
Hardin County HS
Harpeth HS
Hart District ROP
Hayfeld Secondary School
Haywood HS
Helix Charter HS
Herbert H. Lehman HS
Herbert Hoover HS
Heritage HS
Herndon HS
Hightstown HS
Hillcrest HS
Holt HS
Homestead HS
Homestead Senior HS
Honeoye Falls-Lima HS
Houston County
HS for Arts & Technology
HS for Arts and Business
HS for Arts, Imaginaton &
Inquiry
HS for Teaching & The
Professions
HS of Economics and
Finance
Huron Area Technical
Center
Indio HS
In-Tech Academy
Internatonal Prep HS
J. W. Robinson Secondary
School
J.F. Kennedy HS
Jacqueline Kennedy
Onassis HS
James B. Hunt Jr., HS
James Logan HS
James Madison HS
Jeferson HS
Jericho HS
JF Webb HS
John Adams HS
John F. Kennedy HS
John Muir HS
Jonathan Dayton HS
Junipero Serra HS
Kennedy Insttute of
Catholic Chartes
La Mirada HS
La Serna HS
La Sierra HS
Laingsburg HS
Lakeland HS
Lakewood HS
Landstown HS
Lapeer County Ed &
Tech HS
Lawrence County HS
Lawrence HS
Lee County Career &
Technology
Lemoore HS
Lexington HS
Lincoln County HS
Livingston HS
Livonia Career Technical
Center
Longwood HS
Loreto HS
Loris HS
Loudon HS
Lynbrook HS
Madison Park Tech HS
Magen David Yashiva
Maine East HS
Manhatan Business
Academy
Marina HS
Mattuck HS
McLane HS
Menchville HS
Merced HS
Metea Valley HS
Mid Valley HS
Miguel Contreras Learning
Complex
Milford HS
Millikan HS
Mission Viejo HS
Mission Vista HS
Monta Vista HS
Montclair HS
Montrose Hill McCloy HS
Monumount HS
Moorpark HS
Moreno Valley HS
Morris Hills HS
Morris Knolls HS
Mount St. Mary
Mt. Miguel HS
Murrieta Valley HS
Murry Bergtraum
Nequa Valley HS
Neuqua Valley HS
New Dorp HS
New Egypt HS
Newfeld HS
Newport Harbor HS
Noor-Ul-Iman School
North Carolina Network
North HS
Northgate HS
Northwest HS
Northwood HS
Nutley HS
Oak Ridge HS
Oakland HS
Old Forge HS
Orange HS
Ort Arad (Sci Thec Isreal)
Ortega HS
Oscar A. Carlson HS
Owosso HS
Oxford Academy
Oyster Bay HS
Palm Springs HS
Parlier HS
Passaic County Tech
Insttute
Patchogue-Medford HS
Pathways In Technology
Early College HS
(P-TECH)
Pemberton Township HS
Pequannock HS
Perry HS
Person HS
Phineas Banning HS
Phoenix HS
Pigeon Forge HS
Pinckney Community HS
Pitman HS
Pitsford Mendon HS
Pitsford Sutherland HS
Poquoson HS
Port Richmond HS
Portland HS
Prairie Ridge HS
Queens Vocatonal &
Technical HS
Rancho Cotate HS
Ravenwood HS
Redlands HS
Reedley HS
Richmond Hill HS
Richmond Technical Center
Ridge Spring-Moneta HS
Ridgeland-Hardeeville H S
Ridgeview HS
Rio Linda HS
River Bluf HS
River Valley HS
Riverdale HS
Robbinsville HS
Rockford East HS
Rocky Point HS
Roosevelt HS
Salem HS
San Marcos HS
Sanford H. Calhoun HS
Sanger HS
Santa Barbara HS
Santa Monica HS
Sekolah HighScope HS
Sequoyah HS
Sheepshead Bay HS
Siegel HS
Sierra Pacifc HS
Sleepy Hollow HS
Smithfeld HS
Smithtown HS East
Smithtown HS West
South Gibson County HS
South Granville HS
South HS
South Park HS
South Pasadena HS
Southern School of Energy
& Sustainability
Southgate Anderson HS
Southwind HS
Spartanburg HS
Spring Hill HS
St. Charles East HS
St. Charles North HS
St. James HS
Sterling Heights HS
Stewarts Creek HS
Summit HS
Susan E Wagner HS
Sussex County Technical
School
Tahquitz HS
Tehachapi HS
The Academy of
Mathematcs,
Science & Engineering
The HS of Fashion
Industries
Thousand Oaks HS
Troy HS
Tuscola Technology Center
University HS
Vallejo HS
Valley View HS
Vista HS
W.C. Mepham HS
W.T. Clarke HS
Wallenpaupack HS
Wando HS
Warren Mot HS
Waterloo West HS
Waubonsie Valley HS
West Hempstead HS
Westhampton Beach HS
Westmorland HS
Westview HS
Westwood HS
Westwood Regional HS
Whippany Park HS
White Knoll HS
William Cullen Bryant HS
William Floyd HS
Colleges
Austn Community College
Bronx Community College
Lehigh Carbon
Community College
Mercer County
Community College
Northampton
Community College
Northcentral
Technical College
Northeast Wi
Technical College
Wisconsin Indianhead
Rice Lake
Wisconsin Indianhead
Tech College
Middle Schools
In-Tech Academy
MS/HS 368
JHS 259 William McKinley
MS 137 America’s School
of Heroes
Virtual Enterprises International
122 Amsterdam Avenue
New York, NY 10023
(212) 769-2710
[email protected]
veinternational.org
doc_157125488.pdf
During this such a criteria in regard to transforming students into business professionals and entrepreneurs.
2014-15 ANNUAL REPORT
2 3 2014-15 Annual Report Virtual Enterprises International
LETTER FROM THE EXECUTIVE DIRECTOR
Sincerely,
Iris Blanc
Executve Director
Ashley Fina
Board of Directors, Chair
Dear Friends,
The following Annual Report chronicles an amazing year of
growth for VEI—our fourth as a natonal non-proft charged
with scaling-up the live global business simulaton that was
frst piloted in 1996 by the New York City Department of
Educaton. Thanks to our growing community of partners and
supporters, we invested $1.6 million in transforming students
into business professionals and entrepreneurs, unleashing
talent and innovaton among 11,000 students across 360
schools and 18 states. We’ve watched in awe as our students
have come up with incredible business ideas and worked trelessly as a team of
colleagues to meet their company’s botom line. We’ve been proud to follow VEI
alumni as they start real businesses—drawing upon the skills and vision they developed
in our program.
This past year has been one of bold new ventures for VEI. We piloted the VE-JV Middle
School Career Academy, which we developed with support from the New York Life
Foundaton to create pathways for middle school students to become tech-savvy
entrepreneurs. We brought another real-world element into our simulaton through
the VEI Market Insights Tool. Designed with support from Standard & Poor’s, the tool
provides our students with real-tme analytcs on VEI company and global economic
performance. We gathered teachers from across the country for our frst-ever VEI
Summer Teachers’ Conference. With funding from the James Irvine Foundaton, we
piloted our program as a strategy for meetng the goals of California’s Linked Learning
Initatve, a groundbreaking efort to integrate academics with work-based learning to
prepare students for college and careers.
It takes a solid foundaton for organizatons to reach these kinds of new heights. For
nearly two decades, we’ve witnessed the life-changing power of our program, which
brings innovatve and relevant learning to youth. We are proud to be looking ahead to
celebratng our 20
th
anniversary in 2016, and grateful to the many educators, industry
professionals, and business partners around the country that have made it possible for
us to contnue to grow as an organizaton. As we enter a new year, we plan to contnue
to think big and aim high, working with the business and educaton communites to
engage with students and create a dynamic, diverse workforce for the rapidly-changing
future.
VEI is a natonal educatonal nonproft that transforms students into
young professionals by giving them the opportunity to create and
run business ventures in their classroom. We partner with educators,
business leaders, and industry professionals to develop the best talent
pipeline in the country. We currently serve 12,000 students across the
U.S., many from underserved communites.
VEI transforms students into business professionals by
bringing the workplace into the classroom.
For more informaton, visit veinternatonal.org
4 5 2014-15 Annual Report Virtual Enterprises International
500
Companies
VE-JV Middle School Career Academy
VEI is introducing a new era in middle school educaton with the launch of the VE-JV
Career Academy, a two-year program that will enable 7th and 8th graders to develop
technology and entrepreneurial skills by startng and managing business ventures. With
support from the New York Life Foundaton, VEI is pilotng the VE-JV Career Academy in
New York City public schools and three other cites.
Market Insights Tool
With funding from Standard and Poor’s, VEI developed and released a web app that
provides real-tme analytcs for key metrics within VEI’s economy such as number and
value of bank transactons, market categories and sizes, and company and natonal
fnancial performance.
National Teachers’ Conference
VEI ran our frst-ever VEI Summer Teachers’ Conference hosted at Long Island
University C.W. Post, gathering together 80 teachers from more than 70 schools for a
week of professional development, workshops, and networking.
VEI as an In-School Internship Model
With funding from the James Irvine Foundaton, VEI partnered with four Linked
Learning high schools in the Los Angeles Unifed and Long Beach Unifed School
Districts to pilot VEI as an in-school internship model. Linked Learning integrates
rigorous academics with career-based learning and real-world workplace experiences.
Harder + Company conducted an independent evaluaton of this VEI-Linked Learning
pilot.
National Website Competition
Throughout the months of January and February, 347 actve websites developed and
managed by VEI frms received ratngs and constructve feedback from a pool of 250
business mentors, educatonal administrators, and alumni.
Portal Updates
The Portal became the “homepage” of VEI, where students, teachers, and
administrators fnd curriculum tasks and resources, the U.S. and internatonal banking
system, and other tools for partcipatng in the VEI global business simulaton.
Welcomed
Texas
$700 Million
GDP
3,031
Total Competition
Entries
18
States
100
Competitions
11,000
Students
4,000
Youth Business
Summit Participants
370
Business Plan
Entries
11
Trade Shows
360
Schools
Welcomed
Florida
NEW INITIATIVES
6 7 2014-15 Annual Report Virtual Enterprises International
“We get once-in-a-lifetme opportunites
to acquire business and real-world
experiences inside of our classroom and
develop skills that we can take with us and
use in the future.”
Usha Sookai, Class of 2019
CEO, Mofex (VE-JV Career Academy)
M.S. 137 America’s School of Heroes
Ozone Park, NY
“Launching my own clothing line has been
a dream of mine for a long tme. Thanks to
VEI, it no longer seems like just a dream.”
Mike Claustro, Class of 2015
CEO, City of Angels
High School of Business and Tourism
Miguel Contreras Learning Complex
Los Angeles, CA
“For the very frst tme in my life, I recognized
I was able to lead, and I loved it. I have
become the Chief Operatng Ofcer of my
life.”
Richmond Anyetei, Class of 2015
COO, T-Squared
Jacqueline Kennedy Onassis High School
New York, NY
Addressing a National Crisis
The most pressing issue facing U.S. employers is the talent crisis. While hiring managers
are struggling to fnd the right people for their organizatons
1
, the latest Gallup polls
show that 50% of Americans believe that students are leaving school unprepared for
the workplace
2
, lacking the professional skills and behaviors to be successful. Even
students who are beter equipped lack the tme and space needed to experience
entrepreneurship in a way that positons them to unleash their full potental along their
career paths, whether as entrepreneurs or as “intrapreneurs” within a larger company.
VEI tackles both issues by developing a talent pipeline of tech-savvy future business
leaders and entrepreneurs prepared to fuel growth in diverse sectors of the economy.
Our Impact in 2014-15
As an in-school program that consistently produces strong results
3
, our model is poised
to scale throughout the educatonal system to meet the biggest challenge in addressing
career readiness: providing youth with in-depth work experience before they leave high
school so that they can hit the ground running as young professionals.
73% of students identi?ed
a career pathway of
interest through VEI
85% of VEI students
learned to collaborate
and work as part of a
team
83% of VEI students used
technology as applied in
business
97% of VEI students
graduate from high
school
77% of VEI students
developed leadership
skills
92% of VEI graduates
enroll in college or trade
school
77% of students say VEI
made them feel more
con?dent in their abilities
1
TalentShortageSurvey,2012,The
ManpowerGroup
2
2012U.S.GallupStudentPoll
3
Basedon2,542anonymousexitsurvey
responsesfromVEIstudents
8 9 2014-15 Annual Report Virtual Enterprises International
Food &
Beverage
Electronics
& Computers
Health &
Beauty
Travel &
Tourism
Novelty
Party &
Celebration
Business
Services
Clothing &
Accessories
Sports &
Leisure
Entertainment
T-Squared is an entertainment and
advertsing frm that specializes in
entertaining viewers with the latest in news
and pop culture.
___________________________________
$330,866 in total annual sales
50% growth from previous year
Natonal Business Plan Competton Finalist
T-Squared
Entertainment
Jacqueline Kennedy Onassis HS
New York, NY
Returning Firm
Elysium Computer Systems provides
innovatve and efcient products that
improve the lives of consumers and the
environment.
___________________________________
5-star website
Natonal Business Plan Competton Finalist
A leading subscripton-based, gif-giving
company that provides a selecton of unique
products geared to a specifc individual’s
wants.
___________________________________
Long Island Business Plan Competton
Finalist
Elysium
Electronics & Computers
Bearden HS
Knoxville, TN
Returning Firm
Boxality
Novelty
J.F. Kennedy HS
Bellmore, NY
New Firm
10 11 2014-15 Annual Report Virtual Enterprises International
Food &
Beverage
Health &
Beauty
Travel &
Tourism
Business
Services
Furniture
Real
Estate
Books, E-books,
DVDs, Video
Toys &
Games
Software
Clothing &
Accessories
FITspiraton is a health-and-wellness
company focused on helping people form
smart habits that last a lifetme.
___________________________________
Natonal Business Plan Competton Finalist
FITspiration
Health & Beauty
Robbinsville HS
Robbinsville, NJ
New Firm
Life’s PURiTEA sources the fnest natural
ingredients from around the world and
brews its tea with pure carbon-fltered
spring water.
___________________________________
1st Place in Natonal Business Plan
Competton
Life’s PURiTEA
Food & Beverage
Byron Nelson HS
Trophy Club, TX
New Firm
City of Angels ofers travel tours in Los
Angeles for young adults.
___________________________________
A frm made possible as a Linked Learning
initatve with the James Irvine Foundaton
City of Angels
Travel & Tourism
School of Business and Tourism
Los Angeles, CA
New Firm
12 13 2014-15 Annual Report Virtual Enterprises International
445 School
Participations*
581 Student
Business Participations*
11 Trade Shows
*some student businesses and schools partcipated in multple shows
SAN FRANCISCO, CA
BAKERSFIELD, CA
LONG BEACH, CA
SAN DIEGO, CA
CHICAGO, IL
NEW YORK, NY
PIGEON FORGE, TN
NORFOLK, VA
ROCHESTER, NY
MYRTLE BEACH, SC
FARMINGDALE, NY
National
• Business Plan
• Website (New)
Regional & Local
• Brochure
• Business Card
• Catalog
• Commercial
• Elevator Pitch
• HR Scenarios
• Marketng Plan
Presentaton
• Newsleter
• Salesmanship
• Trade Show Booth
Trade Shows
VEI ofers students the opportunity to partcipate in local, regional, natonal, and
internatonal Trade Shows. Trade Shows are a central component of VEI’s program and
allow student businesses to exhibit and sell their products and services in a compettve
marketplace, while bringing together VEI’s network of educators and industry partners.
2014
COMPETITIONS
2015
Competitions
Compettons ofer students the opportunity to
demonstrate their skills and knowledge in diferent
business domains, generate business for their VEI
frms, garner real-world feedback from a diverse pool
of judges, and evaluate their performance compared to
their peers.
3,031
Total Competition
Entries
100
Competitions
Nationwide
7,400
Student
Participants
370
Business Plan
Entries
Business Plan Competitions
Business Plan Compettons are another major
component of VEI’s program. Each year, student
companies are expected to develop and submit a writen
business plan and enter a local competton to present
their plans to industry professionals and educators.
Top-performing teams from around the country earn the
chance to compete at regional compettons to qualify
for the Natonal Business Plan Competton, held each
spring in New York City.
14 15 2014-15 Annual Report Virtual Enterprises International
The Youth Business Summit is VEI’s signature three-day event, ofering students
multple opportunites to demonstrate their skills, knowledge and diverse talents in
entrepreneurship, communicatons, technology, and global business management—
key components of the VEI program.
Global Business Challenge | Natonal Business Plan Competton | Internatonal Trade Show
287
Students
*102 International
26
Judges
153
Student Businesses
39
Judges
24
Teams
34
Judges
Global Business
Challenge
International
Trade Show
National
Business Plan
Competition
(NBPC)
Partcipatng States: California, Florida, Illinois, Massachusets, Michigan, New
Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas,
and Washington D.C.
Partcipatng Countries: Albania, Austria, Belgium, Brazil, Bulgaria, Germany,
Indonesia, Israel, and Romania
Inspiring Keynote Speakers: Vicky Free, EVP of Marketng and Chief Marketng
Ofcer of BET Networks, delivered a keynote speech at the Global Business
Challenge on how to thrive in business and Jim Donald, CEO of Extended Stay
America and Former CEO of Starbucks, inspired students to fnd their “Fish Story”
during the NBPC.
A First-Year Firm in First: Life’s PURiTEA of Byron Nelson HS from Trophy Club, Texas
accomplished a rare feat for a frst-year frm by becoming a frst-place winner at the
Natonal Business Plan Competton.
State-of-the-Art Transactons: U.S. Network Bank Credit Cards were used for the
frst tme at the 4,000 partcipant, sold-out Internatonal Trade Show.
•
•
•
•
•
The 2015 Youth Business Summit took place in New York City between April 13 -15 and
included the following three major events:
Global Business Challenge
Students work in multnatonal teams to identfy the challenges, opportunites, and
risks involved in a global business by examining a college-level business case study.
Afer two hours of analysis and deliberaton, teams present their fndings to a panel of
judges.
National Business Plan Competition
Students from across the country demonstrate their global business expertse through
writen business plans and oral presentatons. The competton showcases best
practces, rewards excellence, and allows students to apply sophistcated knowledge
and skills atributed to business professionals and college students.
International Trade Show
Student businesses from around the world exhibit and sell their products and services
in a compettve marketplace.
16 17 2014-15 Annual Report Virtual Enterprises International
Summer Teachers’ Conference
Eighty new and returning VEI teachers from California, Illinois, Michigan, New Jersey,
New York, North Carolina, South Carolina, Tennessee, and Texas atended our frst-ever
VEI Summer Teachers’ Conference, which was hosted at Long Island University, C.W.
Post Campus. Over 70 schools were represented as teachers partcipated in four days
of networking, professional development, workshops, guest speakers, and partner
events.
“VEI gives students a true work-to-learn model of educaton. Each student in the
program has a unique learning experience as they work in their specifc role in
the company. There is no other program like this anywhere in public educaton. I
wish every kid could have this experience.”
Alan Gersten, Century High School, Santa Ana, CA
“Every day VEI students demonstrate the passion that they have for their
business, while exhibitng the leadership and professional skills that provide a
stepping stone toward a successful fututre.”
Soteria Stavroulakis, NYC Program Coordinator
“My favorite part of the VEI experience is seeing the growth in my students from
the beginning of the year to the end. Students have an opportunity to fail in a
safe environment and recognize that it is okay to fail, and learning from failure
can be very valuable.”
Kendra Lee, St. Charles North HS, St. Charles, IL and IL Program Coordinator
“I love watching my students frantcally strive to meet deadlines, increase market
share, develop new products, and communicate with business people. VEI is a
self-motvatng program that keeps students engaged and eager to learn.”
Amy Demchak, Westhampton Beach HS, Westhampton Beach, Long Island
“As a former business professional, I enjoy how much this class truly simulates
the real business world. I feel privileged to be involved with a segment of
educaton that I know is preparing students to be successful later in life. The
‘golden egg’ in educaton has already been discovered in VEI!”
Kathy McCoy, Bearden HS, Knoxville, TN
“I had students who had no idea what they wanted to do, students who could’ve
been high-school dropouts, students from high means and low means, from
all kinds of life. Now they’re focused. They know what they want to do, they’re
prepared, and they can’t wait to go out into the real-world. They started
teaching me a few new things because they became so immersed in business.”
Antonio Banos, Byron Nelson HS, Trophy Club, TX
“As we started in August, I was more prepared to guide my students in our
second year with VEI. I gained tremendous knowledge and great ideas not only
from the amazing VEI staf but also from the many VEI teachers that I have met
this past year. In just one year, I have seen VEI implement many positve changes
and improvements, and a lot of the progress comes from getng feedback from
VEI teachers. This process of communicaton makes VEI a successful venture and
a stronger business model for students and teachers alike.”
Darrel Iki, School of Business and Tourism, Los Angeles, CA
TEACHER
TESTIMONIALS
18 19 2014-15 Annual Report Virtual Enterprises International
Business Partners
Business partners play an integral role in the VEI experience inside and outside the
classroom. In the classroom, industry professionals ofer guidance and feedback
aligned with their areas of business expertse as students plan, launch and grow their
ventures. Outside the classroom, business partners inspire students to expand their
business knowledge and help students hone their professional skills and workplace
competencies by hostng them as interns and serving as competton judges, guest
speakers and workshop facilitators at VEI events. In turn, VEI students serve as a
valuable talent pipeline for the businesses that partner with us and for tomorrow’s
workforce.
Some of the partners we had the privilege of working with in 2014-15:
20 21 2014-15 Annual Report Virtual Enterprises International
$1,000,000+
New York Life Foundaton
$100,000+
HSBC
$50,000+
The James Irvine Foundaton
JPMorgan Chase & Co.
McGraw Hill Financial
$25,000+
Capital One
$10,000+
Bank of America
Joseph and Nancy Delaney
Michael C. Fina
Royal Bank of Canada Capital
Markets
Jefrey Mayer
Randy Reif
Morris and Helen Messing Family
Charitable Fund
Michael Nierenberg
Jay Novik, SBLI USA Life
Insurance Company, &
Amerilife Group
Paul Richards
Royal Bank of Scotland Securites
Kevin C. Tang Foundaton
Elaine Taylor-Gordon
Viacom
United Federaton of Teachers
Joshua Weintraub
Wilson Sonsini Goodrich & Rosat
Foundaton
Christopher Whitehouse
Foundaton
$1,000+
ACORD
Steven and Elyse Alper
American Portolios
Leo and Nicole Arnaboldi
Alan and Catherine Bain
Withers Bergman
Mitchell and Ronda Benson
Ron Bezoza
Kerry Blum
Marie Booras
Bryn Canner
Gail Chasin
Candice Chen
Jo Ann Chester
Jane Cisnens
Eric Contreras
Richard Cross
Karen Dhennin
David Dietche
Robin Dolch
Elisabeth and Scot Domansky
Anne Donnelly
Scot and Tami Eisenberg
Jef Farin
Jane Fina
Ruth Boone Fulton
Steven Gan
Terence Greene
Ilka Gregory
Jennifer Gross
Beth Grossman
Robert Herlihy
Bing Ying Hu
Marsha Iverson
Yoora Joro
Grace Kim
Richard Krasner
Lynda Lazzari
Barbara Levey
Melanie and Scot Litle
Michael Majcherczyk
Ellen and Roger Palazzo
James Raezer
Doug Rozman
Sarah Salanic
Cherie and Daniel Serota
Adam Shapiro
Lena Sun
Grace Vanderaze
Laura Wang
Sarah Witer
Adam Yafei
$5,000+
Eddy Bayardelle
Mathew and Pamela Chasin
Kimberly Cline and Peter
Fishbein
Council of School Supervisors
and Administrators
Paul and Niamh Cronin
Deloite LLP
Digital Risk/Jefrey Taylor
T.J. Durkin
Scot and Kate Eichel
FedEx
Ashley Fina and Family
Moe and Farin Fodeman
Charlote Frank
Steve Gordon
Adam Gross
Steve and Marcee Israel
Long Island University
Mercy College
Lloyd Bromberg
Michael Coneys
John Contant
Ronald Critelli
Crown Trophy
Felicia Demos
Randy Di Tata
Joseph Dussich
Tom and Cashie Egan Family
Foundaton
Jesse Elhai
Don Epstein/Greater Talent
Network
Fairleigh Dickinson University
Phyllis Frankfort
Pamela Friedman
Michael Goldman
Karen Grinthal
Hirshleifers, Inc.
Gary Israel
Yong Joe
Sandy Kloepfer
Bernadete Krifcher
Krifcher Family Charitable Fund
Jerry and Wendy Labowitz
Michael Levine
Eloise Messineo
Mark Mindich
Nan Morrison
Melanie Mortmer
The University of Notre Dame
Alumni Club
Ofce Equipment Company
Bret and Katharine Parker
Caralene Robinson
Mat Schafnit
Becky and David Schamis
Joshua Siegel
Manish Somaiya
Gaetana Surdi
Kathryn Swintek
Michele Chow-Tai
Ayesha Mathews Wadhwa
Lisa Weinberg
Doug Young
Karen and Ken Ziman
$100+
Jefrey Alexander
Bob Alter
Daniel Bernstein and Nancy
Langsan
Stephen M. Beyer
Jaime Blanc
Jean Alter Bohm
The Boone Family Charitable
Fund
Barbara and Timothy Boroughs
Niko and Uyen Canner
Dave Cannon
Kenneth Colao
Michael Demetriou
First Niagara Financial Group
Jennifer Fitzgibbon
Doug Goldfein
Lynne Greene
Goldman Sachs Gives
Brad and Sandra Harris
Gerard Haughey
Lesley and Richard Herrmann
Leslee Heskiaof
ICAP
Eric and Sandra Krasnof
Jay and Robin Lewis
Barry Lippman
Mary Pisarkiewicz and Steven
Mazur
Robert Miglani
Douglas Millowitz
Charles and Carol Muterperl
Maria Rianna
Geofrey Richards
Adolph and Ruth Schnurmacher
Foundaton
Jay Shaw
Doug and Fabienne Silverman
Danielle Strle
TD Bank
Rajeesh Tiwary
$500+
Anchin, Block & Anchin LLP
Bareburger Group LLC
Mike Beck
Jason Biegel
Charles and Karen Bendit
Charlote Beyer
Mathew and Mary Boone
Jason Borg
Brian Boufarah
Third Annual Evening to Bene?t Virtual Enterprises International
On April 15, over 400 supporters from the business and educaton communites packed Tribeca
Roofop to celebrate VEI’s eforts to drive the future of business and innovaton. VEI students
presented their businesses and shared their personal stories of transformaton. VEI honored
HSBC with the Global Citzen Award, Harold “Terry” McGraw III, Chairman of the Board of
McGraw Hill Financial, with the Crystal Leadership Award, and Dr. Kimberly Cline, President of
Long Island University, with the Dr. Noel N. Krifcher Service to Educaton Award. New York Life
Foundaton presented a $1 million check to VEI to pilot the VE Junior Ventures Middle School
Career Academy.
22 23 2014-15 Annual Report Virtual Enterprises International
“My VEI experience was amazing. It taught me how to be a leader and how to
infuence others. It gave me the opportunity to fgure out at a young age how
the real world works.”
Summer Cruz, Richmond Hill High School, Richmond Hill, New York
“VEI let me practce the skills I learned taking other classes and it showed me
real-world applicatons to what I want to do afer college.”
Brennen Hayes, Spartanburg High School, Spartanburg, South Carolina
“VEI was a great opportunity to express my talents while building a strong team
as well as friendships.”
Damon Lanum, Northwest High School, Justn, Texas
“I had quite an extraordinary experience with VEI. I have faced many challenges
and obstacles in this program that helped me grow into a successful young
woman ready to take on the corporate professional world. It was a very
humbling experience that I feel grateful to have been a part of.”
Kayla Adams, The High School of Fashion Industries, New York, New York
“Before VEI I was scared to go to college and grow up, but now I am confdent
that I will have a bright future. I can now say that I am not afraid to get up in
front of a crowd and present. In many ways I would not be the person I am today
without VEI.”
Mikayla Dunn, Laingsburg High School, Laingsburg, Michigan
“VEI opened my eyes to the endless possibilites that the business world has to
ofer. I never realized all that goes into taking an idea and developing it into a
fully-functoning business. It motvated me.”
Nicholas Kallas, Elmwood Park High School, Elmwood Park, Illinois
“We see more and more that our customers aren’t able to fnd the talent
they need to support their business. VEI is preparing students for their future,
allowing them to fnd college and career paths of their choice.”
Ashley Fina, President, Michael C. Fina & Company
“We want to bring VEI students on as interns, follow them through college, and
bring them on as future Viacom employees. The students are very curious about
our industry and appreciatve of our eforts.”
Fukiko Ogisu, Senior VP, Viacom
“I’ve judged the Business Plan Competton and Trade Show. When you think
about what the students are learning—from developing a business concept to
marketng that business to other students—it’s what they’re going to need in
college and in life.”
Dr. Kimberly Cline, President, Long Island University
“VEI students are the leaders of tomorrow. They are providing innovatve
ideas and solutons to business challenges that people who have been in
business haven’t even thought about. What makes VEI unique is that it’s a true
partnership among the superintendent, the school district, the principal, the
teacher, the student, and, of course, the parents.”
Ray Johnson, VP, Corporate Sustainability, HSBC Bank USA, N.A.
“I’m a two-tme judge and I’ve had a great tme working with the kids, talking
with them, mentoring them, and learning from them. VEI is creatng lots of value
for the students, the schools, and the community at large, and I’m proud to be
part of it.
Joshua B. Siegel, General Partner, Rubicon Venture Capital
“When I found out about VEI, it told the story of my life as an entrepreneur. I
wish I had this type of learning when I was in high school.”
Jefrey C. Taylor, Co-Founder & Managing Partner, Digital Risk, LLC
FROM OUR
BUSINESS PARTNERS
FROM OUR
CLASS OF 2015
24 25 2014-15 Annual Report Virtual Enterprises International
Board of Directors
Mathew Boone,FinancialReportngManager,OpenX
Mathew Chasin,ManagingDirector,RoyalBankofCanada—ViceChair
Michael Coneys,LegalServices,NewYorkCityDepartmentofEducaton—RecordingSecretary
Paul Cronin,SeniorManagingDirector,FirstNiagaraFinancialGroup
Joseph Delaney,DirectorofNortheastAlumniRelatons,DeloiteLLP(ret.)
Carmen Fariña,Chancellor,NewYorkCityDepartmentofEducaton
Ashley Fina,President,MichaelC.Fina&Company—Chair
Morris Fodeman,Partner,WilsonSonsiniGoodrich&Rosat
Charlote Frank,Ph.D.,Sr.VicePresident,McGraw-HillEducaton
Steve Israel,PresidentandCEO,SMIPropertes
John Lucas,SeniorVicePresident,HSBCNorthAmerica
Dean McGee,AssistantSuperintendent,KernHighSchoolDistrict
Joe Perrone,DistrictManager,FedEx
Mat Schafnit, ChiefOperatngOfcer,lenditapp—Treasurer
Jefrey Taylor,Co-FounderandManagingPartner,DigitalRisk
VEI National Team
Iris Blanc,ExecutveDirector
Nick Chapman,NatonalProgramDirector
Bryn Canner,DirectorofDevelopment
Tyler Fugazzie,MarketngandCommunicatonsManager
Rachel Robins,EventsandPartnershipsManager
Nolan Leung,TechnicalProjectsSpecialist
Saara Arshid,ProgramAssociate
Christna Young,GraphicDesigner
VEI Regional Team
Cindy Boyd,MidwestandSouthernRegionalDirector
Kristen Callahan,CollegeNetworkProgramDirector
James Caracciolo,NewYorkCityInstructonalSupportSpecialist
Tom Cook,NorthCarolinaStateCoordinator
Tyshawn Davis,NewYorkCityWork-BasedLearningCoordinator
Rhonda Doak,Mid-AtlantcRegionalDirector
Polly Farina,NorthernCaliforniaRegionalDirector
Kathy Gielow,NortheastRegionalDirector
John Jastremski,NewYorkCityRegionalDirector
Teri Jones,SouthernCaliforniaRegionalDirector
Kendra Lee,IllinoisStateCoordinator
Ellen Palazzo,LongIslandRegionalDirector
Penny Riddle,MidwestProgramCoordinator
Wendy Schmit,MichiganStateCoordinator
Soteria Stavroulakis,NewYorkCityProgramCoordinator
Irv Wortman,LongIslandProgramCoordinator
Thanks to our VEI community, this year we invested
$1.6 million in creating the next generation of
business leaders and entrepreneurs.
Sources of
Revenue
23.2%
Program Services
11.2%
Special Events
14.6%
Corporations
51.0%
Foundations
82.8%
Program Services
7.9%
Administrative
and General
9.3%
Fundraising
Expenses
26 27 2014-15 Annual Report Virtual Enterprises International
OUR SCHOOLS
Schools that implemented the VEI program during the 2014-15 school year:
High Schools
Abraham Lincoln HS
Academy of Scholarship &
Entrepreneurship
Academy for Technology
and Academics
Academy of Finance &
Enterprise
Academy of The Canyons
Advanced Technology
Center
Airport HS
Allentown Central
Catholic HS
Alpena HS
Anderson County C&T
Antelope Valley HS
Armijo HS
Arroyo Valley HS
Arvin HS
Ashland HS
Auburn HS
Augustus F. Hawkins HS
Austn Business and
Entrepreneurship
Academy
Ayala HS
Babylon HS
Bakersfeld HS
Banning HS
Bartlet Yancey HS
Bay Arenac ISD Career
Center
Bearden HS
Bellport HS
Belvidere HS
Belvidere North HS
Bennet HS
Berks Career And
Technology
Blackman HS
Bloomington HS
Boonton HS
Bridgehampton HS
Bronx Community HS
Bronx HS of Business
Business, Computer
Applicatons &
Entrepreneurship HS
Business of Sports School
Byron HS
Byron Nelson HS
Cabrillo HS
California City HS
Cane Bay HS
Cannon County HS
Canyon Springs HS
Carbondale Area HS
Careerline Technical Center
Carlsbad HS
Carman Ainsworth HS
Carolina Forest HS
Carpinteria HS
Careerline Tech Center
Carson HS
Cary-Grove HS
Cedar Ridge HS
Centennial HS
Century HS
Channel Islands HS
Charles H. Bohlen Technical
Center
Charleston Charter School
Charter Oak HS
Cherokee HS
Chesterfeld HS
Citrus Valley HS
Claremont HS
Climax Scots HS
Clinton HS
Clio HS
Coachella Valley HS
Cold Spring Harbor HS
Collinsville HS
Connetquot HS
Cookeville HS
Cordova HS
Corning HS
Corunna HS
Costa Mesa HS
Counsino HS
Creek Wood HS
Crenshaw HS
Crestwood HS
Crystal Lake Central HS
Crystal Lake South HS
Cuyahoga Falls HS
Davison HS
Dekalb County HS
Denbigh HS
Diamond Bar HS
Dos Palos HS
Dos Pueblos HS
Duarte HS
Dutch Fork HS
Eagleville HS
East Bakersfeld HS
East Hamilton HS
East Hampton HS
East Islip HS
East Meadow HS
Eastern Guilford HS
Edward R. Murrow HS
Elisabeth Ann Johnson HS
Elizabeth Learning Center
Estancia HS
Ewing HS
Fairfeld Career & Tech
Center
Farragut HS
Fenton HS
First Colonial HS
Flint Northwestern HS
Flint Southwestern Classical
Academy HS
Floyd E. Kellam HS
Flushing HS
Forest Hills HS
Fountain Valley HS
Four Walls Career and
Technical Educaton
Center
Francis Lewis HS
Frank W. Cox HS
Franklinton HS
Freeport HS
Fresno HS
Fruitport HS
Ft. Hamilton HS
G. W. Hewlet HS
Gardena HS
GASC Technology Center
Geneva CUSD #304
George Washington HS
Gibson County HS
Glen Cove HS
Golden West HS
Grand Blanc HS
Grand Ledge HS
Granville Central HS
Great Oak HS
Greenville HS Academy
Greer HS
Grover Cleveland HS
Guilford HS
Hamilton County
Hanover Park HS
Hardin County HS
Harpeth HS
Hart District ROP
Hayfeld Secondary School
Haywood HS
Helix Charter HS
Herbert H. Lehman HS
Herbert Hoover HS
Heritage HS
Herndon HS
Hightstown HS
Hillcrest HS
Holt HS
Homestead HS
Homestead Senior HS
Honeoye Falls-Lima HS
Houston County
HS for Arts & Technology
HS for Arts and Business
HS for Arts, Imaginaton &
Inquiry
HS for Teaching & The
Professions
HS of Economics and
Finance
Huron Area Technical
Center
Indio HS
In-Tech Academy
Internatonal Prep HS
J. W. Robinson Secondary
School
J.F. Kennedy HS
Jacqueline Kennedy
Onassis HS
James B. Hunt Jr., HS
James Logan HS
James Madison HS
Jeferson HS
Jericho HS
JF Webb HS
John Adams HS
John F. Kennedy HS
John Muir HS
Jonathan Dayton HS
Junipero Serra HS
Kennedy Insttute of
Catholic Chartes
La Mirada HS
La Serna HS
La Sierra HS
Laingsburg HS
Lakeland HS
Lakewood HS
Landstown HS
Lapeer County Ed &
Tech HS
Lawrence County HS
Lawrence HS
Lee County Career &
Technology
Lemoore HS
Lexington HS
Lincoln County HS
Livingston HS
Livonia Career Technical
Center
Longwood HS
Loreto HS
Loris HS
Loudon HS
Lynbrook HS
Madison Park Tech HS
Magen David Yashiva
Maine East HS
Manhatan Business
Academy
Marina HS
Mattuck HS
McLane HS
Menchville HS
Merced HS
Metea Valley HS
Mid Valley HS
Miguel Contreras Learning
Complex
Milford HS
Millikan HS
Mission Viejo HS
Mission Vista HS
Monta Vista HS
Montclair HS
Montrose Hill McCloy HS
Monumount HS
Moorpark HS
Moreno Valley HS
Morris Hills HS
Morris Knolls HS
Mount St. Mary
Mt. Miguel HS
Murrieta Valley HS
Murry Bergtraum
Nequa Valley HS
Neuqua Valley HS
New Dorp HS
New Egypt HS
Newfeld HS
Newport Harbor HS
Noor-Ul-Iman School
North Carolina Network
North HS
Northgate HS
Northwest HS
Northwood HS
Nutley HS
Oak Ridge HS
Oakland HS
Old Forge HS
Orange HS
Ort Arad (Sci Thec Isreal)
Ortega HS
Oscar A. Carlson HS
Owosso HS
Oxford Academy
Oyster Bay HS
Palm Springs HS
Parlier HS
Passaic County Tech
Insttute
Patchogue-Medford HS
Pathways In Technology
Early College HS
(P-TECH)
Pemberton Township HS
Pequannock HS
Perry HS
Person HS
Phineas Banning HS
Phoenix HS
Pigeon Forge HS
Pinckney Community HS
Pitman HS
Pitsford Mendon HS
Pitsford Sutherland HS
Poquoson HS
Port Richmond HS
Portland HS
Prairie Ridge HS
Queens Vocatonal &
Technical HS
Rancho Cotate HS
Ravenwood HS
Redlands HS
Reedley HS
Richmond Hill HS
Richmond Technical Center
Ridge Spring-Moneta HS
Ridgeland-Hardeeville H S
Ridgeview HS
Rio Linda HS
River Bluf HS
River Valley HS
Riverdale HS
Robbinsville HS
Rockford East HS
Rocky Point HS
Roosevelt HS
Salem HS
San Marcos HS
Sanford H. Calhoun HS
Sanger HS
Santa Barbara HS
Santa Monica HS
Sekolah HighScope HS
Sequoyah HS
Sheepshead Bay HS
Siegel HS
Sierra Pacifc HS
Sleepy Hollow HS
Smithfeld HS
Smithtown HS East
Smithtown HS West
South Gibson County HS
South Granville HS
South HS
South Park HS
South Pasadena HS
Southern School of Energy
& Sustainability
Southgate Anderson HS
Southwind HS
Spartanburg HS
Spring Hill HS
St. Charles East HS
St. Charles North HS
St. James HS
Sterling Heights HS
Stewarts Creek HS
Summit HS
Susan E Wagner HS
Sussex County Technical
School
Tahquitz HS
Tehachapi HS
The Academy of
Mathematcs,
Science & Engineering
The HS of Fashion
Industries
Thousand Oaks HS
Troy HS
Tuscola Technology Center
University HS
Vallejo HS
Valley View HS
Vista HS
W.C. Mepham HS
W.T. Clarke HS
Wallenpaupack HS
Wando HS
Warren Mot HS
Waterloo West HS
Waubonsie Valley HS
West Hempstead HS
Westhampton Beach HS
Westmorland HS
Westview HS
Westwood HS
Westwood Regional HS
Whippany Park HS
White Knoll HS
William Cullen Bryant HS
William Floyd HS
Colleges
Austn Community College
Bronx Community College
Lehigh Carbon
Community College
Mercer County
Community College
Northampton
Community College
Northcentral
Technical College
Northeast Wi
Technical College
Wisconsin Indianhead
Rice Lake
Wisconsin Indianhead
Tech College
Middle Schools
In-Tech Academy
MS/HS 368
JHS 259 William McKinley
MS 137 America’s School
of Heroes
Virtual Enterprises International
122 Amsterdam Avenue
New York, NY 10023
(212) 769-2710
[email protected]
veinternational.org
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