The Leading Independent
Resource for Top-tier MBA
Home » Blog » News » Wharton Prize for Organizations Working for Social Change Doubles

Wharton Prize for Organizations Working for Social Change Doubles

Social ChangeThis year’s winners of the Barry & Marie Lipman Family Prize at the University of Pennsylvania’s Wharton School will get double the money to work toward social change thanks to significant new investment poured in by the prize founders, the school announced earlier this month. The Lipman Family Prize was established in 2011 by Wharton School undergrad alum Barry Lipman (W ’70) and his wife, Marie, to celebrate organizations that champion social impact. The Lipmans recently doubled their investment, with prize money doubling as a result—to $250,000 in unrestricted funds for this year’s winning organization and $25,000 for each finalist.

The Lipmans were motivated to increase their support this year by what winning organizations from the past several years have achieved as a result of the prize. “Previous winners of the Lipman Family Prize have shown how well they leverage unrestricted funds and expert advice to unleash their full potential,” Lipman said in a statement. “Seeing the huge difference innovative organizations can make when they have the resources they need is a better return on investment than I ever imagined.”

Prior winners of the Lipman Family Prize include iDE, which manufactures and distributes low-cost water recovery systems throughout the developing world; READ Global, which establishes libraries and resource centers in impoverished rural communities in South East Asia; Riders for Health, a social enterprise providing reliable transportation to healthcare workers in Africa; and Breakthrough, a global human rights organization working to combat violence against women and girls through cutting-edge multimedia flash campaigns.

“The unconventional nature of this prize is part of what makes it so valuable for an organization like ours,” John Mulvey, grants officer for Breakthrough, said in a statement. “It gives us the flexibility to respond quickly, so we can leverage key media and pop culture momentum to bring attention to domestic abuse.”

In addition to the significant prize money, Lipman Family Prize winners also benefit from Wharton’s resources, including a tuition-free executive education program, pro-bono consultation from faculty and staff, peer learning events and cutting-edge research. The prize was designed to emphasize education and help establish long-term partnerships between prize finalists and the school.

The relationship with Wharton has proven immeasurably valuable, Mulvey says. “Being able to tap into faculty expertise, network with alumni and work with top-notch students has been an unexpected benefit.”

Applications for the 2016 Lipman Family Prize will be accepted until August 31, 2015, at 5 p.m. EST, with winners announced in February 2016.

Learn more about the Lipman Family Prize and its application process.