A Worthy Cause

City Year New York’s development team put on their first ever Investment Community Breakfast this morning with the goal of “uniting New York’s investment community to tackle the high school dropout crisis,” and with a turnout of about 140 people, we think the team delivered.

After a great breakfast hosted by Weil Gotshal & Manges LLP, CYNY Executive Director Itai Dinour opened with some hard facts about our impact, and South Bronx Team Leader Chris Duru told his story about growing up in the projects and still finding success through the indispensable support of mentors.

Among the guests were President of Greenlight Capital, Inc. and City Year supporter David Einhorn, along with The New York Times’ chief mergers and acquisitions reporter and columnist Andrew Ross Sorkin.  Mr. Sorkin facilitated an ‘off the record’ conversation with Mr. Einhorn on stage, using his journalistic savvy to get Mr. Einhorn’s take on charitable giving, federal economic policy,  and even investment tips.  And while we won’t share any of the hard financial bits, we think it’s safe to say that Mr. Einhorn believes City Year is a worthy investment.

He pointed out that though there are arguably many other problems in the world, “the education problem is solvable.” Citing the movie Waiting for Superman, Mr. Einhorn said, “Charter schools can work, but even as the number of charter schools expand, the movie points out that every kid cannot go to one. What City Year brings to the table is making an impact on the whole school as it exists.  In order to solve the education problem, we also need to fix the public schools and City Year helps bring in a positive culture and an overall support to any type of school.”

“The opportunity to turn the tide on education is right now,” said Mr. Einhorn

Thanks Mr. Einhorn and Mr. Sorkin for your time, wit, and wisdom.

Thank you, all investors, for coming out this morning and learning about City Year.

Thank you to Dr. John Hughes, principal of partner school MS 424, for your honesty, presence and belief in City Year’s work.

Thank you to Weil for being wonderful hosts.

A special thanks to the 2010 Investment Community Board:

REED CARROLL, Butler Capital Investments, LLC

DREW CHIN, Woodson Capital Management

BEN FARKAS, Hellman & Friedman

SHREYAS GUPTA, Sandell Asset Management

WILDER HARVARD, Morgan Stanley | Prime Brokerage

TYLER HENRITZE, The Blackstone Group

DAVID HOBBS, Tiger Eye Capital

ROB PAHLAVAN, Family Equity Partners, LLC

NICK RENWICK, Kingstreet Capital Management

DOUG ROSS, Normandy Hill Capital, L.P.

And great job, CYNY Development, for always finding new ways to get the word out about City Year!

by Events & Alumni Project Leader Alice Pak

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