SparkYouth is an investment vehicle for mission-based nonprofit organizations that provide youth development programs in New York City, and over the past 30 years has amassed a leadership network of passionate real estate professionals. Founded in 1994, SparkYouth has raised more than $25 million, supported more than 75 youth development programs, and served more than 3 million young people. The New York City real estate industry has played an important role in the growth of organizations by providing capital as well as talent.
Kathy Cunningham speaks with Susie Myers Jackson, Executive Director of Spark Youth, and Stephen Cohn, Chairman of the Board of Cushman & Wakefield Equity, Debt and Structured Finance. did. Marty Berger, CEO of Infinity Global Real Estate Partners. and Neha Santiago, Head of Real Estate Private Credit at Cerberus, discuss SparkYouth’s impact on the community.
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To set the stage, Cunningham asked why the real estate industry is showing such strong support for SparkYouth. Santiago said his motivation to participate was inspired by his own children. “I want my kids to live in a city where they have access to activities that spark their interests and really help them succeed in life,” she said.
The real estate community is not only a fundraiser, but also a recruiter. Kohn, the longest-serving board member, said she was introduced to Spark Youth by her mother, who worked with the organization’s founders Sally Berg and Barbara Kronman. In return, Cohn brought on Berger, who has been with the company for more than 14 years.
SparkYouth aims to reduce the socio-economic disparities experienced by young people in New York City
As SparkYouth celebrates its 30th anniversary, Cunningham asked what pressing issues the organization is currently tackling. “There are many inequalities in our society, and many students are not given the same opportunities for advancement,” Cohn said. “A lot of it has to do with socio-economic circumstances, and our hope is to level the playing field.”
Professor Santiago said, “By accessing extracurricular activities outside of the traditional school environment that truly spark passion, students are able to excel and develop a set of tools to move forward in life. ” he added.
When asked how Spark Youth is uniquely equipped to meet these challenges, Myers Jackson said: SparkYouth really works. It’s like venture capital for nonprofits. We provide capital, networks, and critical professional development and development. This model provides such a great return on investment. We enter an organization at a critical time in its development. Although they are post-startup, they are not yet fully sustainable organizations on their own. This explains why many board members in the real estate and business worlds understand how wise it is to invest at this time. We are proud of our unique models. ”
While working with SparkYouth, 95 percent of our membership programs have doubled in size and 45 percent have tripled in size. While SparkYouth is a valuable catalyst for New York City’s most important youth development programs, real estate is also an important partner. “We have seen firsthand how transformative this type of partnership can be,” Myers-Jackson said. “SparkYouth not only helped my organization grow, but it also helped me grow as a leader. It taught us how to maximize our impact.”
The organization just announced two industry giants as winners of its SparkYouth 30th Anniversary Gala. Shea Buckley Marakowitz, president and chief investment officer of Dune Real Estate Partners, and Bob Foley, chief financial officer and partner of TPG Real Estate, announced on October 17 that The award will be honored at the 2024 Awards Ceremony to be held at Cipriani 42nd Street. For more information, please visit: https://www.sparkyouthnyc.org/events/2024-awards-benefit
