Two Fridays ago, each Cornell Master of Business Administration (MBA) student taking a philanthropy elective received a white envelope containing a ten-dollar bill. The week’s assignment? Use that to create change.
The $10 challenge aimed to show that one does not need to use a lot to make an impact. Students were encouraged to reflect on causes they were enthusiastic about, the types of change they wanted to enact and to be creative in maximizing the effect of the $10.
“When you picture giving for impact, what comes to mind is giving millions to fund malaria vaccine research or something like that, but what happens if you don’t have millions?” said Vera Yeh, a second-year MBA student. “So, I was keen to explore how a little could be a lot.”
Last Friday, students reconvened during class to discuss their use of the $10. Responses were diverse. Yeh had purchased a bottle of antiseptic off Farm Sanctuary’s Amazon registry. One student had donated his $10 to a nonprofit abroad where the exchange rate would increase its value. Another had purchased supplies for a homeless person. Another had bought an upset friend a coffee.
“Large giving has its place, but opportunities abound for smaller amounts too,” said Yeh. “The class agreed that a little can go a long way with a pinch of research and creativity. I’m passionate about animal welfare and wanted to affect that area. My mentor’s wife recommended Farm Sanctuary, and I stumbled upon their Amazon registry with which listed multiple essentials at low price points that I plan to purchase from at regular intervals. It’s great to know that $10 can improve the quality of life for abused animals and that will compound with each purchase I make.”
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