Student-Run Internship Fund Auction Sets a New Record

The 2010 Internship Fund Auction raised a record $51,433, besting the previous mark of $50,050 from the 2002 auction. The Internship Fund exists to help students afford summer internships in the nonprofit and public sectors, as well as social enterprises, which often pay little to no salary. The fund was the first of its kind among business schools in the nation and has been widely emulated by other schools. This year, the Fund will be able to support 40 students.

The auction, which dates to 1979, is one of SOM's signature events. Each year organizers pick a theme and students dress up accordingly. This year the theme was "There’s No Place Like SOM," a play on The Wizard of Oz, with the four main characters standing in for SOM’s values. Cade Massey, assistant professor of organizational behavior, acted as the master of ceremonies.

Among the most contested items were a chance to rent a loft for the summer in New York; a four night stay at a Disney Vacation Club property; flight and accommodations for two for the Sundance Film Festival; dinner for seven at the Gramercy Tavern, hosted by the owner; and drinks at Mory’s with professors Doug Rae and Constance Bagley, Dean Sharon Oster, and the Yale mascot, Handsome Dan.

Suzanne Appel '11, an Internship Fund co-chair, said the auction’s fundraising total is the result of a dedicated team of first-year students who were as innovative as they were dedicated. This year, the silent auction was held exclusively online for the first time, a move aimed at making it easier for alumni and the family of students to participate. "The auction really brought out our whole community in support of SOM’s unique commitment to training leaders for business and society," Appel said. "Our committee and the school were outrageously supportive of the auction at the end of the year when it would have been easier to disengage."