EMBASSY OF KENYA, PARIS » Accredited Countries: France

ANNUAL
REPORT
2014
Letter from the President
Table of contents
Bertrand Léonard (H.85), President of the HEC Foundation
I would like to thank the 2,500 donors and 42 partner
companies who gave us their support in 2014. Their
commitment enabled us to fund 7% of the annual budget of
HEC Paris and to grow substantial capital to serve the school.
In 2014, e7.1M were allocated to HEC for its strategic development projects. These
are focused on three main areas:
Letter from the President ................................................. 3
Highlights from2014 .................................................... 4-5
• a strong social welfare dimension, through the funding of scholarships
attributed to HEC students. In 2014, 224 students in the Grande École Program
received a scholarship to cover their tuition fees, bringing the total to over
1,200 students assisted since 2009.
Supporting the Growth of Talent
Making HEC Paris accessible to all ..........................6
• academic excellence and educational innovation are central to the transfer
of knowledge at HEC. In 2014 in particular, the Foundation supported the
creation of MOOCs (Massive Open Online Courses), accessible via the Coursera
platform.
Promoting cultural diversity ...........................................7
Supporting the ambitions of young
researchers....................................................................................7
• high quality research which is internationally acclaimed, ensuring that HEC
is highly ranked among the world’s best business schools. In 2014, HEC
professors published 41 alpha articles in journals with the most strict
requirements, versus only 28 publications 5 years ago.
Improving Conditions for Cutting-edge
Research in France and Worldwide ...............8
Fortifying Exchanges with the Business
World Through Chairs and Research
Centers ..............................................................................9
Developing knowledge and innovative
academics .......................................................................9
2
The school is at a historic turning point. A new cycle begins with the challenge to
secure its autonomy, the establishment of a reformed governance, and the definition
of new strategic orientations.
Our supporters
The Donors .......................................................................... 16-27
The Circle of Major Donors ........................................... 28
How to Support the HEC Foundation?
Donor Clubs ....................................................................... 29-32
Corporate Support ............................................................... 10
The 1881 Donors ............................................................. 32-35
Alumni and Friends ...................................................... 10-11
Sheltered Foundations. ................................................... 35
Our Corporate Partners
Governance
..........................................................
36-37
(from January 1st to December 31st 2014).12-13
2014 Accounts Summary ............................... 38-39
A year full of group donations .................... 14-15
Contacts ........................................................................... 40
Annual Report 2014
In these decisive times and in a fiercely competitive environment for business
schools, the role of the Foundation is now more than ever to give HEC the means to
reach its ambitions.
Annual Report 2014
3
Highlights
from 2014
February 6:
Donor reception at the
Embassy of France in the
United Kingdom
100 alumni gathered to
congratulate Karim Saddi
(H.97), President of the UK
Campaign Committee, and his
team for their
accomplishments thus far and
to welcome Laure (H.94) and
Jean Fau (H.93), who have
taken over the torch of the UK
Campaign Committee.
June 25: Homage Paid
to Pierre Ledoux (H.35)
April 7:
Renewal of the Deloitte Société Générale Chair
Deloitte, Société Générale and
HEC Paris announced the
renewal of the Energy & Finance
Chair for another 4 years. Since
2005, this chair has enabled the
development of several
academic programs and is a
veritable educational success
with over 350 students enrolled
each year.
June 12:
Class Gift 2014
The 2014 edition of the Class Gift
achieved great success with the
participation of over 525 students
from the Grande Ecole and MBA
programs. Thanks to the donations of
these students, 10 students in the
Grande Ecole program will benefit
from needs-based scholarships for
the coming academic year.
With his close family and friends in attendance,
the HEC Foundation paid tribute to Pierre
Ledoux (H.35), who passed away in 2005. Former
President of BNP, as well as former President of
HEC Alumni, he is the first
testator of the Foundation. .
A tree was planted on
campus in his name, and a
plaque in his memory was
dedicated by Bernard
Ramanantsoa, Dean of HEC
Paris and Mireille Faugère,
current President of HEC
Alumni, in appreciation .
of his legacy to HEC.
More than 250 donors and
members from partner
companies were attending
this relevant annual event. .
For the first time, the HEC
Foundation
Awards were
An International Dimension
conferred on
the laureates
The Friends of HEC Charitable Trust in the UK and the
during the
Friends of HEC Inc. in the US, enable our donors to benefit
event.
from local tax deductions in connection with the Alumni
Chapter. The donations received through these structures
provided funding for 11 MBA scholarships and 15 Specialized
Master’s Program scholarships via the USA Trust, and
31 Grande Ecole scholarships via the UK Trust. The opening
of a representation office in London in January 2014 and the
concerned UK Campaign Committee, contributed to this
dynamic.
Recognition for our Generous Donors
To thank them for their exemplary commitment, the
HEC Foundation and HEC Paris have dedicated
classrooms and lecture halls in the name of four Major
Donors: Jean-Paul Agon (H.78), Fabrice Brégier, Gilles
Brisson (H.73) and Bernard Méheut (H.60).
A uniquely designed facility with high tech features that
encourage creativity, teamwork and communication, the
e-Lab was created through the generosity of three
Major Donors: Jean-Luc Allavena (H.86), Pascal Cagni
(MBA.86) and Pascal de Jenlis (H.73).
June 25:
AFF Award Ceremony
March 17: Inauguration of the
AXA Chair
AXA and HEC Paris created an
academic chair dedicated to
"Digital Strategies and Big Data",
with Henri de Castries, President
Director General of AXA, in
attendance at the inauguration.
The chair aims to develop
academic programs for the
challenges of digital innovation and
Big Data in large companies.
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Annual Report 2014
May 21:
Inauguration
of the StandUp
HEC Social
Business Incubator
The new incubator dedicated to social entrepreneurship was
inaugurated at la Courneuve. lt includes seven projects led by
both HEC graduates and non-HEC entrepreneurs from the
area. This new program is the result of a strong commitment
from the HEC community to promote entrepreneurship and
equal opportunities.
December 15: Annual
Convention and the HEC
Foundation Awards
Ceremony
The HEC Foundation team
received a special award
from the French Fundraisers
Association (AFF), which
recognizes fundraising
professionals for the quality,
innovation, and ethics of their
work. This award contributes
to the recognition of
fundraising and French
fundraisers on an
international level.
September 25:
11th Annual Allen & Overy
Legal and Tax Prize
With invited speakers and
prestigious guests from the
corporate and media spheres,
the Prize recognized the best
research memoirs and
professional student theses
(International Taxation and Law
majors and the International
Law and Management Master’s
program).
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5
Funding: € 1,439,942
•MBA international
scholarships: € 860,000
Supporting
HEC Paris is an open, accessible, and cosmopolitan
establishment which receives talented students from all over
the world. To assist international students during their
academic careers at HEC, the Foundation provides merit
scholarships for international MBA students and students in
the 2nd year of the Grande Ecole Program.
the Growth of Talent
Making HEC Paris accessible to all
To promote social and cultural diversity at HEC, the Foundation established in 2009 the “HEC for All”
program, which assists students from modest backgrounds during key stages in their academic
careers. HEC Paris helps promising students to succeed
Developed with the Frateli Association, the “Mentor for
Success" at HEC program provides state-funded merit based
scholarships with guidance and advice from HEC graduate
volunteers. The mentored students receive personalized
academic assistance (such as private lessons, intensive workstudy periods, homework correction services, and
methodological workshops), while information sessions are
organized in various high schools throughout France to inform
as many students as possible about the preparatory classes.
Supporting talented students in preparatory classes
Since 2007, the HEC Foundation has provided merit based
scholarships to students in preparatory classes, in order to
focus more comfortably on their studies and prepare properly
for the Grandes Ecoles entrance exams.
In 2014-2015, 11 public and private establishments participated
in this service, and 71 preparatory class students received .
financial aid from the Foundation.
Covering tuition fees for state-funded
scholarship recipients
In 2009, HEC and the Foundation began providing tuition
assistance for students who receive a CROUS scholarship (for
social criteria). Each year, 20% of students receive financial aid
(either full tuition waivers or partial scholarships according to
CROUS tier).
A partnership has also been established with the BRED
(Grandes Ecoles bank). It allows students who have received a
partial scholarship to receive an unsecured, zero-interest loan
to cover the full amount of their tuition fees.
• Grande Ecole international
scholarships: € 300,000
Promoting cultural diversity
Funding: € 60,000
KEY NUMBERS
75
Frateli students assisted
in 2013-2014
135
HEC graduates among
Frateli mentors
10 Frateli students are
currently being mentored
at HEC
Funding: € 114,000
The HEC Foundation also sponsors academic mobility awards
to remove financial roadblocks for students in the Grande
Ecole Program who wish to participate in a university exchange
program.
To provide MBA talented students with loans, a partnership
has been conclued between Prodigy Finance (specialised in
providing funds for international students) and the HEC
Foundation. Thanks to this partnership, 12 MBA students got
a loan on september 2014, equivalent to 500KUSD. 71
Training young research professors is crucial to ensure the
international level of research at HEC Paris. For the 2014
school year, 13 PhD students were welcomed to the doctoral
program. Once they graduate, they will teach in worldrenowned establishments, thus contributing to the academic
prestige of HEC across the globe.
Funding: € 976,000
KEY NUMBERS
224
students received
tuition fee waivers for the
2014-2015 school year
122
international students
in the MBA Program
received financial aid in
2014
144 international students
in the Grande Ecole Program
received an excellence grant
in 2014-2015
32%
19%
By Type
of
Scholarship
49%
Funding: € 698,500
KEY NUMBERS
62
doctoral grants funded by
the Foundation in 2014
13
PhD students joined
the doctoral program in
September 2014
15
Student Aid in 2014
11 public and private
establishments participated
in 2014-2015, including 6 in
rural areas
KEY NUMBERS
Supporting the ambitions of young researchers
Chiffres-clés
preparatory class
students assisted in
2014-2015
• Mobility awards: € 279,942
4%
22%
By
Program
47%
27%
Training Researchers
Grande Ecole
International Diversity
MBA
Equal Opportunity
Ph.D.
PhD candidates defended
their thesis in 2014 and found
a position in prestigious
international establishments
such as Harvard Business
School (USA), Rotman School
of Management – University
of Toronto (Canada), Board
of Governors of the Federal
Reserve System (USA), Judge
Business School – University
of Cambridge (UK), Stephen
M. Roos School of Business –
University of Michigan (USA)
(post-doc).
Preparatory Classes
6
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7
Improving
Conditions for Cutting-edge
Research in France and Worldwide
One of the fundamental missions of HEC Paris is to support
research in order to provide its students with a quality
education in its various specialized fields, as well as to spread
this knowledge to the corporate sphere. On a larger scale, the
school’s ambition is to contribute to knowledge worldwide and
to promote French higher education at an international level.
The HEC Foundation provides financial aid to professors so
that they may benefit from the best possible work conditions
and to facilitate their access to powerful research tools
(reference databases, specialized software, and participation
in academic conferences). In order to recognize and reward
the best among them, the Foundation has set up several
programs: F research projects*, 4 Foundation chairs**, and 3
Fellowships***. These programs provide their beneficiaries,
in addition to financial support, with recognition in the
academic world.
Encouraging academic exchanges with the most prestigious
universities and hosting world-renowned guest professors
also contribute to the international acclaim of HEC Paris. To
this end, 24 visiting professors were welcomed in 2014 to the
campus in Jouy-en-Josas. The Foundation also provides
assistance to these professors to help them transition
smoothly to HEC, for example with individualized coaching or
intensive French seminars.
Examples of financed projects :
*F research project: funding for a maximum of 3 years for projects with
high potential for publications in A-type journals, the allotted budget
being between €15K and €30K
** Foundation chair: attributed, for an unlimited term, to a full professor
who has published at least 10 A articles and 5 FT articles
***Fellowship: attributed, for a non-renewable term of 3 years, to a
professor who is not yet full professor and has published at least 3 A
articles A and 3 FT articles
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Annual Report 2014
Funding: € 1,053,112
•Development of a favorable
research environment: .
€ 777,992
• Data base, tools: € 173,590
•Projects to develop and
publish working papers: .
€ 101,530
KEY NUMBERS
106
permanent professors at
HEC as of September 1st, 2014
15
new professors recruited
for the 2014-2015 school year
Fortifying
Exchanges with the Business
World Through Chairs and Research
Centers
Since its origin, HEC has developed strong ties with companies.
The academic and research chairs provide a means for longterm cooperation focused on a specific subjet and led by a
chairholder professor. These 5-year collaborations between
HEC and its partner companies produce concrete applications
for the corporate world while enabling HEC to provide new
academic content.
Funding: € 1,736,536
KEY NUMBERS
17
academic chairs and
centers
2
new academic chairs in
2014: AXA, « Digital Strategy &
Big Data », and « Certificate
Leadership » in partnership
with Pernod Ricard
85
articles published in
scientific journals in 2014
Developing
Funding: € 446,904
KEY NUMBERS
knowledge and innovative academics 2 dedicated centers for
Funding: € 1,053,112
KEY NUMBERS
127 academic partnerships
in 46 countries
24
international
doubledegree programs*
24
visiting professors
received in 2012-2013
64% international professors
among permanent faculty
(as of September 1st, 2014)
*with prestigious establishments such
as MIT-Sloan School of Management,
Fundaçao Getulio Vargas, London School
of Economics, National University of
Singapore, New York University, Indian
Institute of Management d'Ahmedabad,
Tsinghua University - School of
Economics and Management.
The Foundation lends its support to HEC by training future
leaders and entrepreneurs who will become the drivers of
digital transformation in their companies, innovating in areas
such as technology, marketing, or organization.
To grant HEC with a major role in these strategic themes, the
Foundation is committed to providing resources, for example
through the Entrepreneurial center, the incubator, or the eLab.
It also provides the school with financial support through the
production of MOOCs (Massive Open Online Courses) via the
Coursera platform.
HEC Paris’ MOOCs
-Understanding Europe: how it works, why it matters and what it can
offer you.
-Time to reorganise: how to evaluate the influence of organizations
around you and how to transform your relationships to reach a
stronger coherence.
-Corpoprate finance: offers a comprehensive and practical curriculum
in corporate finance.
-Social entrepreneurship: aims to inspire and help aspiring
entrepreneurs who want to make a difference in society.
-How to set up a technology-based start-up: focus on the identification
and evaluation of entrepreneurial opportunities in science and
technology.
entrepreneurship and
e-business
8
certifications which enable
students to expand their
knowledge in a specific sector:
digital innovation, digital
transformation, social
business, energy & finance,
luxury goods, aeronautics,
leadership, mergers &
acquisitions
5
MOOCS in 2014, with over
130,000 registered students
representing 195 countries
Annual Report 2014
9
YOUR CONTACTS AT THE HEC FOUNDATION
Barbara de Colombe
HOW TO SUPPORT
Executive director.
HEC Foundation
+33 (0)1 39 67 97 07
[email protected]
THE HEC FOUNDATION?
Marianne Duval
Corporate Support
Several options are available for joining the HEC Foundation’s
corporate partners and developing a privileged relationship
with the school: finance a research center, create a chair,
finance student scholarships, and/or become a partner.
Providing support as a corporate partner enables companies
to increase their visibility among students and to develop an
array of collaborative educational relationships. Corporate
partners also become an integral part of the HEC Paris
strategic support system within our teaching and research
committees.
CORPORATE CONTACTS
Marie-Pierre SEYFRIED
Deputy Director Corporate
Relations
+33 (0)1 39 67 74 04
[email protected]
Frédérique SAILLANT
Corporate Partnerships
+33 (0)1 39 67 95 19
[email protected]
Taxation
In France, Corporate donations are deductible up to 60%, within the
limit of 5‰ of the company revenue. (Art. 238 bis du C.G.I.).
Alumni and Friends
To support the programs of the HEC Foundation, you can make a donation:
online at www.hec.fr/fondation-don
by check made out to the HEC Foundation .
(1 rue de la Libération – 78351 Jouy-en-Josas cedex – France)
by bank wire to the account of the HEC Foundation.
(please provide your name in the wire):
BNP Paribas Centre d’Affaires Ile de France Ouest
RIB : 30004 01412 00021290230 47
IBAN : FR76 3000 4014 1200 0212 9023 047
SWIFT ou BIC : BNPAFRPPIFO
You can offer regular, continuing support by opting for automatic monthly payments.
Lastly, it is also possible to offer your support in the form of bequests, life insurance, planned
giving, stock donations and/or company shares.
Taxation
In France, the HEC Foundation, a state-approved organization, offers significant tax incentives
100
34 tax on income*
after tax deductions
25 wealth tax **
* 66% of a gift is deductible from the 2015 income tax, with a limit of 20% of the taxable income (for all gifts realized before December 31st 2015)
** 75% of the gift can be directly deducted from the 2015 wealth tax, up to a maximum of €50K (for all gifts realized before the wealth tax.
declaration, i.e. before May 19th 2015 or June 15th 2015)
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Annual Report 2014
Bequests and gifts .
coordinator
+33 (0)1 39 67 98 87
[email protected]
Alice Gorge
Director of development .
– major donors
+33 (0)1 39 67 97 02
[email protected]
Léa Sarica
Director of development .
– annual fund
+33 (0)1 39 67 97 37
[email protected]
Olga Hein
Director of international
development +33 (0)1 39 67 97 78
[email protected]
International giving
Donors from the United Kingdom, the United States, Switzerland, Germany, Spain, Belgium and
Italy, can support the HEC Foundation and receive in-country tax benefits.
Please find listed our local contacts:
UNITED KINGDOM
Friends of HEC Charitable Trust
c/o Ludivine Labussière
Flat 4, 17-18 Picton Place
London W1U 1BS
United Kingdom
+(44) 7 500 55 68 65
[email protected]
www.justgiving.com/friendsofhec/
UNITED STATES
Friends of HEC Inc.
P.O. Box 67,
New York NY 10150
+(33) 1 39 67 97 78
[email protected]
https://secure.qgiv.com/for/tfohi
SWITZERLAND
Swiss Philanthropy Foundation
C/O WISE- P.O. BOX 2124
CH –1211 Geneva 1
Switzerland
+(41) 22 321 7737
[email protected]
BELGIUM
Fondation du Roi Baudouin
Ludwig Forrest
+(32) 2 549 02 38
[email protected]
SPAIN
Fundacion Carlos Amberes
Catherine Geens
Claudio Coello, 99
28006 MADRID
(+34) 91 435 22 01
[email protected]
ITALY
Vita Giving Europe Onlus
Martina Rogato
Via Marco d'Agrate 43
20139 Milano, Italy
+39 02 55 22 81 / +39-2-552 29 83 33
[email protected]
GERMANY
Maecenata Stiftung Transnational Giving
Christian Schreier M.A.
Linienstrasse 139/140,D – 10115 BERLIN
+49 30 2838 7909
[email protected]
www.maecenata.eu
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11
Other Project
Our Corporate Partners
(from January 1st to December 31st 2014)
By financing a chair, companies create unique, long-term relationships with HEC Paris and its
faculty. At the same time a chair enables companies to increase their visibility among students, the
academic community and the business world.
Academic and Research Chairs:
■
With the support of ALCATEL-LUCENT
L'OREAL, HEC Paris Leadership Center
Chair
Chair Holder: Thomas Astebro, Professor
Strategy and Business Policy Department
■
AXA, Decision Sciences
Chair Holder: Itzhak Gilboa, Professor
Economics and Decision Science Department
With the support of FREE, Digital
Innovation for Business
Executive Director: Julien Lévy, Affiliate
Professor
■
GDF SUEZ, Business and Sustainability
Chair Holder: Rodolphe Durand, Professor
Strategy and Business Policy Department
■
Kering, Luxury Strategies
Chair Holder: Anne Michaut, Affiliate Professor
Marketing Department
■
ORANGE, Innovation and Globalisation
Management
With the support of DANONE, RENAULT
and SCHNEIDER ELECTRIC, Social
Business / Enterprise & Poverty
Chair Holder: Sihem Jouini, Professor
Operations Management & Information
Technology Department
■
Chair Holder: Frédéric Dalsace, Professor
Marketing Department
With the support of ORANGE, Digital
Transformation Centre
■
PERNOD RICARD, Leadership
■
DELOITTE – SOCIETE GENERALE, .
Energy & Finance
Chair Holder: Valérie Gauthier, Professor
Business Communication Department
Co-Director: Jean-Michel Gauthier, Affiliate
Professor - Finance Department, Chief
Economist Officer Energy & Resources at
Deloitte, and Geoffroy Dallemagne, Affiliate
Professor at HEC Paris and Global Head of SG
Consulting
■
SAFRAN – HEC – SUPAERO, High-Tech
Innovation Management in Aerospace
Sector
Academic Coordinator: Sihem Jouini, Professor
Operations Management & Information
Technology Department
■
TOTAL, Energy & Management
■
WEBHELP, Human Capital and Business
Performance
Chair Holder: Charles-Henri Besseyre des
Horts, Professor - Management and Human
Resources Department
■
AXA, Strategy Digital & Big Data
Executive Director: Julien Lévy, Affiliate
Professor
■
BNP PARIBAS, Business Finance
Executive Director: Pascal Quiry, Affiliate
Professor - Finance Department
■
■
12
■
EDF, New Business Models in the .
Energy Industries
Chair Holder: Dominique Rouzies, Professor
Marketing Department
Annual Report 2014
■
Private Equity Observatory - Buyout Center, with the support of ABENEX CAPITAL – ASTORG
ARDIAN CHEVRILLON & ASSOCIES – IDI GROUPE – MESSIER MARIS – ROLAND BERGER
ROTHSCHILD – SJ BERWIN – WEIL
Holder: Oliver Gottschalg, Associate Professor - Strategy and Business Policy Department
Find the complete list of Academic and Teaching Chairs at HEC at:
www.hec.edu/Corporate-Relations/Chairs-Centers
Corporate Supporters
From e 10k
Corporate Partners
Membership of e 60k for 4 years (renewable)
Permanent Chair
Capital Donation of more than e 1 525k
Chair
Donation of e 250k per year for 5 years (renewable)
Our Corporate
Partners
Accenture
Alcatel-Lucent
Altarès
AXA
BETC.
Bain & Co
BNP Paribas
BRED
Capgemini Consulting
Crédit Agricole S.A
Danone
Deloitte
EDF
EY
Free
Freshfields Bruckhaus Deringer LLP
GDF Suez
Gide Loyrette Nouel AARPI
Google
Kering
KPMG
Linklaters
L'Oréal
Our Corporate Supporters
Mazars
McKinsey & Company
Neopost
Orange
Pernod Ricard
Porsche France
PwC
Procter & Gamble
Publicis
Puma Energy
Renault
Safran
Schneider Electric
Société Générale
Thomson Reuters
Total
Unibail-Rodamco
Weave
Webhelp
Allen & Overy
Booz & co
Casino Guichard Perrachon
Fondation Daniel et Nina Carasso
Fondation Le Roch les
Mousquetaires
Groupe Casino.
Singularity Holding
The 10 companies of the Private
Equity Observatory - Buyout Center
Abenex Capital
Ardian
Astorg
Chevrillon & associes
IDI GROUP
Messier Maris & Associes
Roland Berger
Rothschild
SJ Berwin
Weil
Annual Report 2014
13
A YEAR FULL
OF GROUP DONATIONS
The HEC Foundation and HEC Alumni Association are working in close collaboration to boost
collective donations. These initiatives are driven by engaged volunteers, reflecting the power of our
generous and strong alumni community.
68 NEW DONORS THANKS TO MICRODONATIONS!
During the annual dinner for HEC graduates employed at Société Générale which took place at the
end of January, the Foundation tested a new type of online donation: the microdonation. Two-thirds
of participants thus donated 1 euro or more. In total, nearly 80 donors participated in this project.
HEC YVELINES
Since 2008, HEC Yvelines has set up a system of group donations to finance “honor loans” (unsecured,
interest-free laons), primarily - but not exclusively - for students from their department. In 6 years,
more than 85,000 euros have thus been collected to benefit 15 recipients. As a follow-up to this
initiative, HEC Yvelines decided, at the beginning of 2014, to grant scholarships on social criteria. In
2014, 3 social scholarships were thus funded.
HEC DÉTENTE
The HEC Détente Club reduced its spending by transitioning to a digital platform, saving 50,000
euros. Its 500 members decided to donate the saved money to the Foundation for its social
scholarships. Thanks to this generous gift, five state-funded scholarship recipients in the Grande Ecole Program
will receive full tuition waivers for the 2014/2015 school year.
HEC AU FÉMININ
To commemorate the 40th anniversary of the first female students enrolled at HEC, the HEC Au
Féminin association decided to fund the first year of studies of a female CROUS scholarship recipient
in the Grande École Program. Over 12,000 euros were thus collected and given to Laure (H.17).
CLASS OF 1989 DONATION
To celebrate its 25th anniversary, the class of 1989 organized a dinner with nearly one hundred
guests and set up a collective fundraiser. Thanks to their dedication and generosity, over 100,000
euros were collected. This provided funding for scholarships which cover a full year of tuition fees for
10 students in the Grande Ecole Program for the 2014/2015 school year.
2014 CLASS GIFT
The 2014 Class Gift was a success and is a testimony to the commitment of our new HEC graduates!
525 students from the 2014 graduating class participated. The students’ donation was supplemented
by donations from the event’s generous sponsors: Annick Briançon-Bulle (H.85), Eric Bulle (H.81)
and Pierre-Yves Cros (MBA.84).
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15
Sheltered Foundations
The HEC Foundation is an umbrella organization. Its status enables to host sub-foundations under
its auspices, sharing the same objectives as those outlined in the HEC Foundation charter without
exceeding them. Hosted foundations have no separate legal personality from their host foundation.
The benefits of a hosted foundation:
■
Flexible and fast creation and organization
■
Able to supplement in certain cases the donation of the hosted foundation, with living donations
or inheritances
■
Able to take advantage of the tax benefits of the HEC Foundation pertaining to bequests
(individual donations, gifts and inheritances)
■
Personalization of supported projects and definition of one’s personal involvement within the
hosted foundation (gouvernance, communication, operations)
■
Mutualization and reduction of organizational fees
■
Perpetuation of activities
Currently, the HEC Foundation hosts 4 sheltered foundations:
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■
The 104 Foundation was created in memory of Pierre-Christian and Marie-Louise Taittinger,
by Valérie Colloredo-Taittinger (H.94) to promote equal opportunities at HEC.
■
The Bernard-André Parent (H.61) Foundation encourages research on the development of
geospatial management and seeks to expand education in this field.
■
The Fontanet Foundation was created by Xavier Fontanet, in honor of his father, Joseph
Fontanet (H.39), to support education and research in business strategy and to improve the
accessibility of HEC to students of merit.
■
The Bruno Roux de Bézieux (H.55) Foundation was created 6 years after his disappearance by
his family and his friend, Didier Pineau-Valencienne (H.54). It promotes educational innovation
in management science in France.
Annual Report 2014
17
Barbara de Colombe, Executive Director of the HEC Foundation
“A big thank to all the alumni and representatives from partner companies who are involved in our
governance structures. Nearly 80 volunteers give their time and expertise by participating in
various committees, thus ensuring that the operations of the HEC Foundation run smoothly.
Our mission is to give meaning and impact to our actions thanks to the support of our donors
and volunteers.”
Governance
Board of Directors:
As a state-approved non-profit organization, the HEC Foundation is governed with transparency and
rigor. The administrative and governing bodies ensure that this commitment is fulfilled.
Board of Directors
Decision-making body of the HEC Foundation, the Board of Directors votes on budgets prepared by
the Specialized Committees and closes the accounts.
It is composed of:
■
three legal members representing public authorities (a representative of the Ministry of Interiors,
a representative of the Ministry in charge of the Economy and Finance, a representative from the
Ministry in charge of Education)
■
five founding members (the president of the HEC Alumni Association, two members designated
by the President of the HEC Alumni Association, a representative of the Chamber of Commerce
and Industry in Paris, the President of HEC)
■
seven well known and qualified individuals of whom at least three are alumni of the one the HEC
programs
Clerk
This body executes the strategy defined by the Board of Directors, under the management of the
President of the Foundation, Bertrand Leonard (H.85). It is composed of members of the Board of
Directors and several permanent guests.
Campaign Committee
Composition: approximately twenty donors
Role: Determines the most efficient means for reaching fundraising objectives.
Investment and Risk Committee
President: Arielle Levi (H.87).
Composition: five qualified individuals, the treasurer and the President of the Foundation.
Role: ensures an optimal and secure management of the Foundation’s funds, especially those that
are endowed.
Research Committee
President: Bertrand Leonard (H.85)
Composition: representatives from our Corporate Partners and the Director of Research, HEC Paris.
Role: Selects and follows the advancement of research projects financed by the Foundation.
Teaching and Diversity Committee
President: Bernard Pérot (H.74).
Composition: representatives of Corporate Partners as well as of HEC paris.
Role: tracks the evolution of teaching resources and tools and the advancement of equal opportunity
benefiting from the support of the Foundation.
18
Annual Report 2014
Domenico Azzarello (Bain & Co)
Daniel Bernard (Provestis)
Anne Bosche-Lenoir (SNCF
Proximité)
Eric Bulle (PwC)
Henri de Castries (AXA)
Alexandra Claudios (Ministère de
l'Intérieur)
Mireille Faugère (Association HEC
Alumni)
Bertrand Léonard (Avesnes Invest)
Catherine Malinie (Ministère de
l'Enseignement supérieur et de la
recherche)
Henri Proglio (EDF)
Bruno Rain (Pernod Ricard)
Bernard Ramanantsoa (HEC Paris)
Olivier Sibony (McKinsey &
Company)
Jérôme Tixier (L'Oréal)
Committees:
Dominique Banier (EDF)
Pascal Baumgarten (McKinsey &
Company)
Godefroy Beauvallet (AXA)
Michel Bénard (Google)
Anne-Claire Berg (Danone)
Florence Bernard (L'Oréal)
Michel Bilger (Crédit Agricole SA)
Mathieu Blanc (Raise)
Annick Briançon-Bulle (PwC)
Séverin Brizay (UBS)
Emmanuelle Brizay
Elizabeth Buckley (Arete Research)
Bertrand Cardi (Darrois Villey
Maillot Brochier)
Philippe Cerf (Crédit Suisse)
Constance Chalchat .
(BNP Paribas SA)
Sylvie Chamberlin (CHS Conseil)
Virginie Chauvin (Mazars)
Anne-Elise Chevillard (AXA)
Olivier Combastet (Pergam
Finance)
Marianick Darnis Lorca (Linklaters
LLP)
Jean Deichtmann (Thomson
Reuters France)
Pierre-Olivier Desaulle (Hiscox
Europe)
Isabelle Fabre de Morlhon
Jean Fau (Brennus)
Laure Fau
Mireille Faugère (Association HEC
Alumni)
Benoît Gallot (Thomson Reuters
France)
Cyril Garcia (Capgemini consulting)
Antoine Giuntini (Procter & Gamble
France)
Frédéric Gourd (Deloitte &
Associés)
Nadia Guermazi Renucci (BNP
Paribas)
Raphael Gusdorf (AXA Group)
André-Benoît de Jaegere
(Capgemini France)
David Jestaz (EDF)
Charles-Edouard Joseph (Boussard
& Gavaudan Gestion)
Yannick de Kerhor (KPMG AUDIT)
Sara Kokot (EY & Associés)
Vincent Le Baron (Freshfields
Bruckhaus Deringer)
Jean-Claude Le Grand (L'Oréal)
Nadine Lemaître (Suez)
Arielle Levi (Allfine)
Clarisse Magnin-Mallez (McKinsey
& Company)
Valérie Mathérion-Ledjam (Allen &
Overy)
Sylvia Metayer (Sodexo)
Jean-Christophe Napoléon (Advent
International)
François-Xavier O'Mahony
(Accenture France)
Bernard Perot (KPMG Audit)
Anne Perrin-Vujasinovic (Meteojob)
Thomas Perrot (Linklaters LLP)
Bertrand Pointeau (Bain & Co)
Vincent Ponsonaille (Linklaters
LLP)
Serge Pottiez (EY & Associés)
Anne Pruvot (Accenture France)
Thomas Reynaud (Free Iliad)
Benoît Roger-Vasselin (Publicis
Groupe)
Didier Rousseau (Weave)
Bénédicte Rousseau-Champenois
Karine Sanouillet (Association HEC
Alumni)
Sophie Serratrice (Crédit Agricole
SA)
Evelyne Sevin (Egon Zehnder
International)
Olivier Sibony (McKinsey &
Company)
Anne Veaute-Chignard (Mazars)
Florence Vellutini-Cerf (Ville et
Campagne)
Gilles Wozelka (Neopost SA)
Annual Report 2014
19
Resume of account results 2014
2014 Accounts Summary
Donations collected during the year
Analysis of annual financial statements
KEY FIGURES FOR 2014
■
The year 2014 saw a drop in the amount of collected resources,
mainly due to the so-called “silent” period between the 2 campaigns
(overall 15% in relation to 2013). The pledge levels from major
donors and companies at the start of 2014 experienced a 20% drop
in relation to the start of 2013.
€12,9M of resources
raised in 2014
€38,5M in capital funds
2 500 Donors in 2014
42 Corporate Partners
■
(including 17 Chairs and
Centres)
2014
(in e)
In contrast, a dynamic prospecting operation resulted in gaining the
support of 7 new major donors and 6 new companies, including.
4 chairs. The total number of donors is on the rise (2,500 donors in
2014 vs 2,400 in 2013).
■
The financial and exception results saw a gain of €1,5 M thanks to
well-managed investment policies by the investment committee.
■
The allocations for project funding are maintained in all areas of
support, for a total of 7,1 million euros.
■
The collection and operational costs are down slightly.
■
The net income of 6,2 million euros will be added to the current
funds and reserves, for a total of 38,5 million euros in capital, to
ensure the perpetuation of revenue.
12,877,288
15,149,183
Individuals
8,238,288
9,755,933
Corporate Partners
4,639,000
5,393,250
1,475,560
1,007,256
14,352,848
16,156,439
746,825
-135,876
Donations deferred for future projects
-1,814,688
-2,783,783
Use of dedicated past funds
2,353,607
2,642,572
207,906
5,335
15,099,673
16,020,563
7,136,081
7,630,227
Student Aid
3,252,442
3,665,692
Chairs
1,736,536
1,662,569
Research
1,053,112
1,307,723
Teaching
896,752
702,462
International Communications
197,239
291,781
1,077,957
1,081 677
Running costs
397,704
436,913
Partenariat HEC Alumni
250,000
250,000
EXPENSES FOR THE YEAR
8,861,742
9,398,817
EXCESS
6,237,931
6,621,746
63,920
280,500
Financial and extraordinary results
INCOME FOR THE YEAR
Variation for dedicated funds and others
Reversal of provisions and Other Products
RESOURCES AVAILABLE FOR THE YEAR
Financing of projects
Fundamental research costs
In 2014, where did the Foundation
resources come from?
In 2014, where did the Foundation
resources go to?
Donors
Corporate
partners
36 %
64 %
6 %
8,4 %
Endowment and Capital
Funds
9,9 %
Student Aid
Chairs and Research
Centers
42 %
11,7 %
Operational Costs
€15,1M
€12,9M
€9,8M
€6,6M
Investment
securities
2014
€3,4M
42,841,077
Liquid assets
966,856
1,249,855
Other assets
839,832
581,443
20
Annual Report 2014
TOTAL
2007
2008
2009
2010
2011
2012
2013
2013
48,513,988
€5,1M
2006
The financial statements, which are.
included in the Foundation’s 2014.
Annual Report are under your responsibility.
I conducted my work in accordance with
the professional norms and auditing
standards relative to the specific
certificates (NEP 9030) within the due
diligence framework directly linked to
our mission of statutory auditor.
My diligence consisted of estimating
the compliance of this information with
the annual accounts of the HEC
Foundation, which were the object of an
audit I performed and which will be
submitted for approval to the Board of
Directors of the Foundation in May
2015.
I do not have any observations to
express on the compliance of the
attached information, included in the
HEC Foundation 2014 Annual Report
with annual accounts, which will be
submitted for approval to the Board of
Directors of the Foundation the 11th of
May 2015.
This certificate is established in the
context of the presentation of the 2014
Annual Report by the Foundation, and
should not be used, distributed or cited
for other reasons. »
Paris, 11th of April 2015
Monique MILLOT-PERNIN
Statutory Auditor
Resume of the balance sheet as of 2014/12/31 (en e)
ASSETS
€18,1M
€13,1M
Corporations
As the statutory auditor of your
Foundation and in response to your
request, I address the present extracts
from the balance sheet and income
statements, which shows a surplus of €
6,237,931.
Teaching
€15,4M
Alumni & Friends
Estimated values of gifts in kind
« Dear President of the HEC
Foundation,
Research
21,9 %
Evolution of Fundraising at the HEC Foundation
Certificate from the Statutory
Auditor
2013
50,320,676
LIABILITIES AND
RESERVES
Funds collected
and reserves
Dedicated
funds
Debt and other
liabilities
44,672,375 TOTAL
2014
2013
38,482,419
32,244,489
7,716,648
8,255,567
4,121,609
4,172,319
50,320,676
44,672,375
2014
Annual Report 2014
21
Your contacts
at the HEC Foundation
The HEC Foundation team would like to thank you for your generous support. Please do not
hesitate to contact us.
Patricia de Beaufort
Marie-Hélène Gille
Barbara de Colombe
Alice Gorge
Assistant
[email protected]
Tél : +33 (0)1 39 67 94 17
Development coordinator
[email protected]
Tél : +33 (0)1 39 67 74 14
Executive director
[email protected]
Tél : +33 (0)1 39 67 94 17
Marie Dolet
Director of development .
major donors
[email protected]
Tél. : +33 (0)1 39 67 97 02
Communications and marketing
coordinator
[email protected]
Tél : +33 (0)1 39 67 95 61
Marianne Duval
Bequests and gifts coordinator
[email protected]
Tél : +33 (0)1 39 67 98 87
Olga Hein
Philippe Larue
Finance and administrative
manager
[email protected]
Tél : +33 (0)1 39 67 71 96
Léa Sarica
Director of development .
annual fund
[email protected]
Tél : +33 (0)1 39 67 97 37
Director of international
development
[email protected]
Tél. : +33 (0)1 39 67 97 78
Marianne Kaldi
Database coordinator
[email protected]
Tél : +33 (0)1 39 67 74 10
www.hec.fr/Fondation
www.facebook.com/FondationHEC
HEC Foundation – State Approved Foundation.
Decree of July 5th 1973
1, rue de la Libération – 78351 Jouy-en-Josas cedex - FRANCE.
Tél : +33 (0)1 39 67 94 17
22
Annual Report 2014
Crédits photos : Jean-Marc Biais - HEC Paris
www.thecampaign-hec.com