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While many major corporations in the financial sector focus their social impact initiatives on education, financial literacy, and STEM programs, Morgan Stanley has charted a different course by dedicating its efforts to children's health.

For over half a century, the Morgan Stanley Foundation has focused on children's health, and in 2021, the Foundation launched the Morgan Stanley Alliance for Children's Mental Health. This initiative combines the considerable resources and extensive reach of Morgan Stanley with the expertise of nonprofit partners to confront the pressing challenges of stress, anxiety, and depression. In today's episode, EFG's Alli Murphy is joined by Joan Steinberg, Global Head of Philanthropy & President of the Morgan Stanley Foundation and CEO of the Morgan Stanley Alliance for Children's Mental Health.

The Alliance has several multi-year partnerships with organizations like The JED Foundation, Child Mind Institute, Place2Be, and the Columbia University Department of Psychiatry, among others. Additionally, it hosts an Innovation Awards program, providing grantees with seed funding, networking opportunities, and capacity-building support. As part of the Alliance's capacity-building efforts, the first five winners of the Innovation Awards program collectively raised an additional $6 million in outside funding for their programs.

In today's episode, we'll explore:

• The motivations behind The Morgan Stanley Foundation's focus on children's health
• How the Innovation Award program empowers small organizations in their initial steps toward scaling their impact
• How the Alliance positively impacts the company's employee engagement
• The connection between the brand's social impact work and its reputation as an employer of choice
• Insights into the program's expansion plans for future cohorts
• Advice to grant hopefuls & corporations leading their own grant-making platforms
• How Joan prioritizes her well-being so she can continue moving this important work forward

Links & Notes

• Morgan Stanley Website
• Morgan Stanley Giving Back
• Morgan Stanley Alliance For Children’s Mental Health
• Joan Steinberg LinkedIn

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• (00:00) - Welcome to Engage for Good
• (01:37) - Introducing Joan Steinberg
• (02:32) - We are More than Work
• (03:12) - Why Children's Health?
• (04:36) - Morgan Stanley Foundation
• (10:55) - Sustainability of the Program
• (13:20) - Unlocking Opportunity
• (15:42) - Lessons Learned
• (18:56) - Employee Engagement
• (21:48) - How do you measure success?
• (23:34) - Advice for Grantees
• (27:26) - Leadership Lightning Round!
• (32:43) - Learn More