Bryant University offers a transformative student life experience thanks in part to rich connections between academics and student clubs on campus. Guided by mentoring faculty advisors, club activities offer opportunities outside of the classroom for students to further develop the skills they need to solve problems and be real-world ready for their careers.

Recently, several finance student clubs and interest groups on campus, including Smart Women in Finance, the Finance Association and the Real Estate Sustainability Cohort, participated in Impact Boston, an experiential learning and networking opportunity focused on sustainability, community and finance. The students traveled to Boston and visited a range of organizations to learn more about the social and environmental impact of investment decisions in various industries, and how finance can help stakeholders who may be vulnerable or at risk.

The trip, sparked by student and faculty interest, complements classroom opportunities at Bryant where students can explore sustainability and finance. One example is Bryant's student-managed Archway Investment Fund (AIF), a hands-on course of study where students manage a $2M+ equity and fixed income portfolio that also includes the integration of Environmental, Social and Governance (ESG) investing, a rapidly growing area of finance that involves sustainability.

“We saw that finance can be used for greater social return on investment when thought of as a medium for greater good.”

The trip was planned by student club members and Lecturer of Finance and Smart Women in Finance faculty advisor Maura Ann Dowling, M.A., C.F.P.^®, and Assistant Professor of Finance and Finance Association faculty advisor Leila Zbib, Ph.D. The sites visited touched on the nonprofit, small business, real estate development and tech industries and included:

• Appalachian Mountain Club Headquarters in Charlestown with Heather Clish, Senior Director of Conservation & Recreation Policy and Karl Fries, Director of Executive Office & Strategic Initiatives

• Soleil Restaurant in Nubian Square, Roxbury, with Cheryl Straughter, Chef-Owner

• CORE Investments with David Pogorelc, Founder-Owner, and Art Campbell, Architect

• Own Up Cofounder Mike Tassone via Zoom

Each site visit met one or more United Nations Sustainable Development Goals (SDGs), said Dowling, who is a member of the UN PRME workgroup of faculty lead by Department Chair and Professor of Management Eileen Kwesiga, Ph.D., which helps foster sustainability teaching and learning at Bryant.

Community and sustainability

The first stop was Appalachian Mountain Club (AMC) Headquarters, where a discussion with AMC leaders focused on the importance of preserving nature and AMC’s Dark Sky initiative, which acquires undeveloped land in order to protect night skies and the ecosystems that depend on them from light pollution, which affects 99% of the skies in the U.S. and Europe. 

“Part of your sustainability toolbox is knowing why it’s more valuable not to develop lands than to develop them,” said Dowling of the group’s takeaway from the visit.

The students then traveled to Soleil Restaurant in Nubian Square of Roxbury, Massachusetts, a neighborhood of Boston whose population is comprised mostly of minorities. There the students met Cheryl Straughter, Chef-Owner and member of the community, and listened to her story about how she was unable to obtain a business loan or Covid relief for Soleil. Her experience highlighted flaws in the private banking system and the long history of disparities it has caused by underfunding minority groups.

“I was fascinated by the concept of social ROI which represents non-monetary gains.”

By using finance approaches where community isn’t considered but only profit is, “we end up with many people who are bypassed, and that's where Cheryl's site at the restaurant was so important to us,” said Dowling of the restaurant visit.

The next two site visits also emphasized the idea of creating community and finance. At CORE Investments, they met with leading real estate developers who augment their real estate plans according to community needs, whether it be to add grocery stores or parks for children. At Silversmith Capital Partners, via Zoom they met Own Up Cofounder Mike Tassone and heard how the innovative tech company and mortgage aggregator is helping to reduce the asymmetry of information between banks and clients. The day ended with a Bryant alumni reception at Silversmith's offices.

'A medium for greater good'

The theme of the day, the students summarized, was all about community. They appreciated the impactful experience and finer points they gleaned on the concept of social ROI, which they had wanted to investigate.

“Finance plays a role in every business, and it is extremely important to take into consideration environmental, social and governance factors when making investment decisions,” said Jacqueline Gilmartin ’22, President of SWIF and a Finance and Applied Analytics double concentrator who has completed her tenure as a fund manager in the AIF, where all students learn ESG investing skills. “We saw that finance can be used for greater social return on investment when thought of as a medium for greater good rather than a means of strictly value creation.”

“I was fascinated by the concept of social ROI which represents non-monetary gains,” said Robert Schunder ’24, a Finance major, Co-Founder/President of Real Estate Investments interest group and VP of the Finance Association. He saw a connection between the newer concept and traditional business principles, noting they are not so far apart. “This often comes hand-in-hand with tangible cash returns. If you create a product, service, or experience that can improve the quality of life of others, financial winnings are imminent.” 

“It is our job now, as we enter the industry, to keep these ideas in mind.”

The students also pointed to the thread of innovation that was woven throughout the trip. “I also enjoyed learning about OwnUp from the Cofounder Mike Tassone because his mortgage finding app proves that there are always new innovations and ways to make finance more effective using creative solutions,” said Gilmartin.

The trip did an excellent job at exploring the different ways in which finance can be used to impact communities, said Maia Antonucci ’22, a Finance major. “It is our job now, as we enter the industry, to keep these ideas in mind,” said Antonucci.