Steppingstone Foundation and Prep for Prep have/had a generic relationship

Based on Steppingstone Foundation
Inspired Prep for Prep
Start Date 1990-00-00
Notes Hanging out a shingle After returning to Boston in 1988, Simon went into the private equity business, first with Charles River Ventures and then with the newly formed Highland Capital Partners. Then, after a few years in private equity, he founded a medical device company, UroMed, which eventually made him a considerable fortune. Simon was tremendously busy with his corporate work. But the itch to serve persisted, so he and his roommate—Michael Danziger, a friend from Oxford who was then about to graduate from the Harvard Graduate School of Education—began looking for another good idea to adopt and, perhaps, adapt. In the for-profit world, if your business model is successful, you can easily expand. In the not-for-profit world, if your model is successful, you need more money, not less, and it's difficult to expand to new locations, because your fundraising base is local. So it became clear that this beautiful model was not going to get to other cities. They soon focused on a New York City-based program called “Prep for Prep,” which provided extensive wraparound support to late elementary and early middle school-aged kids to help them prepare for and gain admittance to the city’s elite private schools. With encouragement from Prep for Prep’s founder, Gary Simons, Simon and Danziger in 1990 set up the Boston-based “Steppingstone Foundation,” which faithfully reproduced many of the elements of the successful New York program. Steppingstone’s program soon proved itself, and Simon and Danziger began looking for ways to expand the concept into additional cities. The first spin-out was established in Philadelphia, and the second in Hartford.
Updated over 4 years ago

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