The Strategy Challenge is Morgan Stanley’s flagship pro bono program, bringing together integrated teams of cross-divisional employees to advise nonprofit organizations on key strategic questions that are central to their missions. Employees have served 206 nonprofits since the program’s launch in 2009, and this year alone, provided more than 11,000 hours of pro bono consulting to 14 nonprofits, generously serving the community with their time and expertise.
Teams of employees work with selected nonprofits to develop strategic plans that cover issues like expansion, growing staff capacity, improving outcomes and efficiency, and other areas that amplify the organization’s impact on the communities they serve. After 10 weeks of collaboration and analysis, the 2025 Strategy Challenge culminated in events in New York and London, where teams presented their recommendations to nonprofit sector experts and senior leaders at the firm.
Why We Do It
Morgan Stanley is committed to Giving Back as a core value, and the annual Strategy Challenge is further evidence of how the firm leverages our employees’ passions and skills to generate innovative impact where we live and work.
“The Strategy Challenge demonstrates the power of our integrated firm as employees across Morgan Stanley collaborate to help nonprofits address key organizational questions,” said Joan Steinberg, Global Head of Philanthropy at Morgan Stanley and President of the Morgan Stanley Foundation. “This year’s teams all developed rigorous proposals to support strategies for nonprofits that are working to meet critical societal needs, including access to housing, employment opportunities, legal aid and education.”
This Year’s Winning Team
The winning team in the U.S. worked with Lower Manhattan Cultural Council (LMCC), a nonprofit at the intersection of arts, culture, and civic life in New York City. LMCC supports artists and strengthens the city’s cultural infrastructure through public programming, strategic partnerships, and direct support for artists. By bringing together leaders across the arts, business, and civic sectors, LMCC activates spaces like the Arts Center at Governors Island and helps shape a more vibrant and resilient future for all New Yorkers.
“It's been such a rewarding experience working with an arts nonprofit and being able to deliver real value and insights in such a short period of time,” noted Michael Chambers, Vice President in Company Management. Chambers was joined by Brooks Frey, Director in the Institutional Equity Division; Rachel Heights, Vice President in Legal and Compliance; and Lucas Rivers, Vice President in the Global Sustainability Office. Wendy Sylvester, Managing Director in Operations was their advisor.
LMCC’s Strategic Solution
In helping LMCC address rising property costs and a decline in funding for arts nonprofits, the Morgan Stanley team analyzed whether the organization should implement a fee-based model to support its artist residency programs. Following extensive research, including a survey of residency alumni, the team determined that the minimal revenue lift from application fees would not justify the associated risks.
Instead, the team developed a plan for LMCC to generate stable funding, increase cash flow and continue its mission of offering free programming through alternative income opportunities: a membership program, event space rentals and creative workspace leases for professionals. This approach sets LMCC on a clear and actionable path to future sustainability while continuing its mission and impact to support the New York City arts community with free and accessible programming.
“It might sound hyperbolic, but the Strategy Challenge really was a once-in-a-lifetime chance for our organization to cultivate greater resilience and sustainability moving forward,” said Moe Yousuf, President and CEO of LMCC. “Our empathetic, generous Morgan Stanley team built trust with us and our artists. Thanks to their hard work, we’ll be able to continue ours for many years to come.”
Dedicating time to the Challenge gives Morgan Stanley employees the opportunity to not only get deeply involved with a local nonprofit but also expand their professional experience and network within the firm.
“I'm really client-focused day in and day out, which can mean deep diving into analytics or helping stakeholders shape high-level ideas,” said Frey. “Working alongside people from Legal, Strategy and Sustainability has helped me think beyond the financials to shape a cohesive outcome for LMCC and more broadly, understand how all of our functions come together to drive the Firm’s goals.”
Impact in the U.K.
In the UK, the winning team worked with The Outward Bound Trust, a nonprofit that aims to inspire young people to realize their potential through learning and adventure in the outdoors. The Morgan Stanley volunteers explored whether or not The Outward Bound Trust should acquire a new site to meet rising demand. They also created a financial viability tool to model and stress test different scenarios based on funding options. Backed by thorough analysis, the team’s recommendations will enable The Outward Bound Trust to unlock additional liquidity for growth, increase annual net revenue, make future acquisitions and expand programming to reach more young people.
In addition to LMCC and The Outward Bound Trust, the 14 nonprofits that participated in this year’s Strategy Challenge across the U.S. and the UK include: The Acceleration Project, Action for Children, Amal Alliance, The Arthur Project, Comunilife, Hit the Books, Hudson Community Enterprises, JobsFirstNYC, NSPCC, Smart Works Charity, The Switch and Volunteers of Legal Service.
For more on the Morgan Stanley Strategy Challenge and each of the participating organizations, click here.
