FREQUENTLY ASKED QUESTIONS:
Q: What are the responsibilities to Stern as a SIIF fellow?
A: During the summer you will be responsible for posting two blog posts about your internship on the SIIF blog. You will also be responsible for promoting the program to future students and assisting with fundraising efforts.
Eligibility and Application Process
Q: Who is eligible to apply to SIIF?
A: MBA1s or dual-degree students (who not in their final academic year—Stern or otherwise) who are committed to working in the social impact space.
Q: Can dual degree students apply?
A: Yes. Many of our fellowship recipients are dual degrees. A special note for MD-MBA students: you may need to pursue internships that are less than 10 weeks for scheduling purposes.
Q: Do you need to have an internship offer before applying?
Q: Which organizations can I work with to be eligible for SIIF funding?
A: Eligible organizations may be not-for-profits or government entities. For profit companies are eligible IF their core mission surrounds social impact. For example, a start-up dedicated to developing renewable energy would be eligible, but a general consulting company with a social impact arm would not be. Corporate social responsibility is generally not eligible (for those, we ask students to look at opportunities available through the Center for Business and Human Rights). Ultimately, the Experiential Learning team makes the decision on the organization. We encourage you to reach out to us early in the process. We’re always happy to discuss potential organizations.
Q: Do you have to take a social impact internship if you're awarded SIIF funding?
A: You don’t have to work in the social impact space even if you’ve been awarded a SIIF Fellowship. However, you will no longer be eligible for the fellowship. Your spot will then go to someone on the waitlist.
Q: What is the application and interview process like? What are you looking for?
A: Students first submit an application. They will then be notified if they have been invited to interview. Students will then have a half-hour interview with members of the Office of Student Engagement as well as former SIIF Fellows/SISA leadership. We just want to get to know you and learn more about your interest in the social impact space. Students will receive one of three decisions: accepted, waitlist, or rejected. Waitlisted students would know their final decision in mid-May.
Stipends and Payments
Q: How and when will you receive the stipend from Stern?
A: Students will receive their check early in the summer with the full amount of their summer stipend. However, this payment could be delayed if students don’t fill out paperwork in a timely manner.
Q: Is the stipend taxed?
A: Domestic Students: Although the check you receive has not been taxed, the stipend is taxable. You will be responsible for deducting the appropriate amount and paying your taxes. For international students, NYU will withhold taxes at the gift rate before sending your check.
Q: Is the $300/week contribution mandatory? Do most employers match the requested $300/week stipend?
A: It depends on the company. It is highly recommended that you explore with your employer their ability to meet it. While we understand that many non-profits and social enterprises are not in a position to meaningfully pay their interns, the purpose of the contribution is to make sure the organization is "bought in" to you being there and that your contribution will be valued and taken seriously. If students don’t receive the additional stipend, they should receive some kind of in-kind donation (e.g., housing, transit pass, etc.). It can also include access to training or conferences that are not necessarily usually provided to interns.
Q: How often do SIIF internships lead to full-time offers after graduation?
A: Not too often, although it does happen.
Q: Can you explain the difference between SIIF and NIIF? I get them mixed up.
A: SIIF is the Social Impact Internship Fund, a financial stipend meant for students who are pursuing summer internship in the social impact space. NIIF is the NYU Impact Investing Fund, a year-long, for-credit program in which students learn about the impact investing space. Students may participate in both SIIF and NIIF.