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Wiesel came up with a solution: He would charge no entry fee, and he would launch the event as a non-profit fundraiser for Good Shepherd Services, where he is a board member. The roughly $270,000 of operating expenses were covered by Goldman Sachs Gives, a philanthropic fund financed by the firm and directed by its partners, through a grant made at his recommendation. â??I wanted to be able to tell donors that every dollar they donated would go to the charity and not to operating costs,â? he said. He appealed to his Goldman colleaguesâ?? competitive spirit by asking them to support one or more teams with their own grant recommendation or donation to Good Shepherd Services, a New York-based non-profit that provides support for over 25,000 at-risk youth and their families every year. The event netted $1.4 million for the organization, the bulk of which executive director Sister Paulette LoMonaco said would go toward giving high school dropouts the training needed to finish school.
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