SparkYouth, an investment vehicle for mission-based nonprofit organizations providing youth development programs in New York City, has amassed a leadership network of highly engaged real estate professionals over the past three decades. Founded in 1994, SparkYouth has raised over $25 million and supported over 75 youth development programs that have gone on to serve more than 3 million young people. New York City’s real estate industry has played a significant role in the organization’s growth through the provision of capital, as well as talent.
Cathy Cunningham sat down with Suzy Myers Jackson, executive director of SparkYouth, and board members Steven Kohn, chairman of Cushman & Wakefield Equity, Debt & Structured Finance; Marty Burger, CEO of Infinity Global Real Estate Partners; and Neha Santiago, head of Real Estate Private Credit for Cerberus, to discuss SparkYouth’s community impact.
To set the stage, Cunningham asked why the real estate industry has demonstrated such strong support for SparkYouth. Santiago shared that her motivation for getting involved was inspired by her own children. “I want them to live in a city where children have access to activities that spark their interest and really help them succeed in life,” she shared.
The real estate community has taken on the role of not only fundraiser, but also recruiter. Kohn, who is one of the longest-running board members, stated that he was introduced to SparkYouth by his mother who worked alongside the organization’s founders, Sally Berg and Barbara Kronman. Kohn in return brought in Burger, who has been involved for over 14 years.
SparkYouth seeks to diminish socioeconomic disparities experienced by NYC youth
As SparkYouth celebrates its 30th anniversary, Cunningham asked what pressing issues the organization is addressing today. “There is a lot of inequity in our society, and many students don’t have the same opportunities to advance,” said Kohn. “Much of that is tied to socioeconomic conditions, and our hope is to level the playing field.”
Santiago added that “access to extracurricular activities that really spark a passion outside of a traditional school setting can help students excel and develop a set of tools that will help them advance in life.”
When asked how SparkYouth is uniquely equipped to tackle these challenges, Myers Jackson stated that “whether it’s food insecurity or income inequity, we’re investing in leaders who are innovative and visionary in their addressing of these challenges. SparkYouth really works. It’s like venture capital for nonprofits. We provide capital, a network, and important professional development and capacity building. It’s because of that model that we see such a huge return on investment. We come into organizations at such a critical time in their development. They’re post-startup but not yet fully sustainable entities on their own. That speaks to why so many board members in real estate and business understand how smart the investment is at this particular moment in time. I’m proud of our unique model.”
During their time working with SparkYouth, 95 percent of their member programs have doubled in size, and 45 percent have tripled in size. While SparkYouth has been an invaluable catalyst for New York City’s most important youth development programs, real estate is a critical partner. “I’ve seen firsthand how transformative this type of partnership can be,” stated Myers Jackson. “SparkYouth didn’t just help my organization grow, it also helped me grow as a leader. It taught us how to maximize our impact.”
The organization just announced two industry titans as their SparkYouth 30th Anniversary Gala honorees. Cia Buckley Marakovits, president and chief investment officer at Dune Real Estate Partners, and Bob Foley, chief financial officer and partner with TPG Real Estate, will be honored at the 2024 Awards Benefit on Oct. 17 at Cipriani 42nd Street. More information can be found here: https://www.sparkyouthnyc.org/events/2024-awards-benefit