2018-19 Annual Report

We transformed the lives of 15,000 students in 430 schools across the U.S.


Message from the President

Dear Friends,

In 2018-19, we transformed the lives of 15,000 students in 430 schools across the U.S. by converting classrooms into vibrant workspaces where middle and high school students built businesses and invested in their futures. By launching and managing a business in a simulated work environment, VE students gained meaningful skills-based career experiences, developed in-demand skills and competencies, and identified career pathways that align with their interests, talents, and aspirations.

As our students develop, VE continues to develop as a program and organization. Our newest initiative, the VE Top 50, identifies the top companies in the program and allows us to measure how well we provide transformative experiences for students by tracking key engagement and achievement indicators.

At a time when the world of work is changing faster than ever before, VE serves a crucial role connecting education and industry. We’re constantly engaging industry leaders through our National Board of Directors, National Advisory Council, and corporate and postsecondary partnerships. Highlights of our partnerships from this past year include HSBC’s commitment of $1 million to help build the future workforce, New York Life Foundation’s renewed support of $750,000 for the VE-JV Career Academy, and Intuit’s pledge to provide access to QuickBooks and design-thinking curriculum for all VE classrooms across the U.S.

Since 1996, we have transformed the lives of more than 156,000 students. Through the talent and dedication of our teachers and school leaders, and with the support of our industry partners, donors, and volunteers, VE is able to provide students with authentic business experiences that cultivate fulfilling and financially secure futures. And as our students contribute to the vitality and success of our future workforce, we continue to transform lives and change the world, one student-run business at a time.


Nick Chapman
Virtual Enterprises International

2018-19 Snapshot

15,000 students served in 2018-19

All 15,000 VE students opened and managed their own bank accounts throughout the year and gained job application, resume writing, and interview experience

430 schools served

59% of VE Schools are Title 1 eligible and half of VE schools have 50% or more students on the free/reduced lunch program

80% of students made a formal business presentation during their time in VE

17 states and territories

Bermuda, California, Florida, Illinois, Massachusetts, Michigan, Missouri, North Carolina, Nebraska, New Jersey, New York, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia

72% of students identified career pathways of interest

Students worked in departments including Accounting/Finance, Administration, Communications, Design, Human Resources, IT, and Sales/Marketing

2,700,000 total hours of meaningful work experience for students

600 VE companies

Top 10 Industries: Entertainment, Electronics & Computers, Novelty, Clothing & Accessories, Sports & Leisure, Unconventional, Food & Beverages, Travel & tourism, Business Services, Health & Beauty

88% of students learned how to collaborate as a team

8,000 students held leadership positions including Chief-level, VP, and Manager


total amount of all VE transactions in 2018-19

88% of students interacted with business professionals

VE and HSBC: Building the Future Workforce

HSBC Bank Grants $1 Million to Virtual Enterprises International

HSBC Bank USA’s donation allows VE to offer its acclaimed career readiness and youth entrepreneurship program to 30,000 students in classrooms across the United States over the next two years. The HSBC relationship with VE began in 1999 and has included more than $2.8 million to date, as well as hours of service by HSBC employee-volunteers visiting classrooms and acting as judges for the Youth Business Summit.

The $1 million donation by HSBC will not only facilitate growth of the VE program in additional cities, but will support its expansion to high-need schools where more than 50 percent of the student population is from low-income households. The new funding will create the “HSBC Opportunity Fund” with students competing for funds to cover travel costs to attend VE’s national competitions during the Youth Business Summit.

“VE is unique in its way of preparing today’s youth for jobs of the future—some of which have yet to be invented. While technological skills are important for those careers, the higher cognitive skills like creativity, critical thinking, and complex information processing are vital, and are attributes honed through the VE program."

- Maureen Gillan-Myer, Head of Human Resources, HSBC USA

VE and HSBC: Building the Future Workforce

Introducing the HSBC Opportunity Fund

Every student deserves the opportunity to experience all that VE has to offer—without worrying about how to pay for it. The recently established Opportunity Fund offers support for schools and students to participate in the extended learning opportunities that are vital parts of the VE experience.

In its pilot year, 103 students benefited from the HSBC Opportunity Fund from the following schools:

  • C.S. Brown High School STEM Program, Winston, NC
  • Sarah E. Goode Academy, Chicago, IL
  • St. Charles High School, St. Charles, MI
  • Pittsford Sutherland High School, Pittsford, NY
  • Pittsford Mendon High School, Pittsford, NY

“This whole experience has changed the motivation and focus of my students. We want to make sure that every student who comes through our school gets an opportunity to be a part of the VE program.”

- Daphne Lee, VE facilitator, C.S. Brown STEM High School

Introducing the VE Top 50

Measuring How Well VE Provides Transformative Experiences for Students

In 2018-19, we introduced the VE Top 50, which identifies the top companies in the program and allows VE to measure how well we provide transformative experiences for students by tracking key engagement and achievement indicators.

Career Readiness

VE Top 50 measures when companies engage in business operations mirroring real-world companies, including processing payroll, rent payments, utilities payments, and other expenses.

Immersive Learning

VE Top 50 tracks company participation in events such as national online competitions, business plan competitions, and conferences & exhibitions.

Global Perspective

VE Top 50 companies make sales to individuals and other VE businesses, purchase products and services offered through the VE marketplace, and trade with companies around the world.

Congratulations to the following firms for finishing the year as the inaugural VE Top 50 list.

2018-19 VE Top 50 Companies

99 @dventures, Berks Career & Technology Center
A Helping Hand, West Hempstead HS
A Lil Twist, Carle Place HS
ABODE, Huntington HS
Amplitide, V.R. Eaton HS
Ancora Safety, Centennial HS
Apollo, Metea Valley HS
Area304, Geneva Community HS
AstroDough, Syosset HS
At Your Service, West Hempstead HS
Bloom Technologies, Germantown Friends School
Catalyst, Neuqua Valley HS
Cloud 9 Comfort, Pittsford Sutherland HS
Comforting Canines, Hewlett HS
Connexus, Century HS
Core Inc, Timothy Christian HS
Current Threads, Bakersfield HS
Cypher Corp., Lapeer County Ed-Tech Center
Deja Brew, Morris Knolls HS
Doorstep Sports, Pittsford Sutherland HS
Evergreen, Germantown Friends School
Helio Tech, Century HS
HOPE, Academy of Finance and Enterprise
iKOMO, South Pasadena HS
Imagineers, Lapeer County Ed-Tech Center
Infinity Bars, Herricks HS

InVEst, San Juan Hills HS
L.I.F.E, HS of Economics and Finance
Legacy, Neuqua Valley HS
Limitless, Elmwood Park HS
LuxDesigns, Francis Lewis HS
MatchWear, Francis Lewis HS
Monk Made Beverage Company, Cooper City HS
NAPR, Hewlett HS
NAVA Inc., Academy of Finance and Enterprise
Never Ending, Metea Valley HS
Nova, Patchogue-Medford HS
Nuapps, Francis Lewis HS
Nurture, Murrieta Valley HS
Phoenix Wood, Stockdale HS
Pink Sand Travel Packs, CedarBridge Academy
Poppy, Huntington HS
Pop-T, Homestead HS
Safe N Sound, Murrieta Valley HS
SendIT, Pittsford Sutherland HS
Simply Safe, Millikan HS
Sunny Snacks, Cooper City HS
Sway, Westhampton Beach HS
Tinker, Oxford Academy
Veko, Edward R. Murrow HS
Your Name Here Inc., Fort Hamilton HS

The New VE Token Exchange

Students Learn Investing Using the Technology of the Future

Launched in March 2019, this exciting new opportunity allows VE firms and student-employees to make investments in other VE firms and gives listed firms the opportunity to raise additional capital for their businesses. This exchange is powered by blockchain technology, firms are taken public via an initial coin offering (ICO) rather than an initial public offering (IPO), and firms offer tokens instead of shares. This new exchange called the VE Token Exchange (VX for short) will allow VE firms and students to buy and sell tokens of various VE firms in a real-time market exchange.

The VE Token Exchange was made possible thanks to a collaboration between InVEst, a VE company from San Juan Hills High School led by junior and CEO Jaden Bryan, and Yuvaraj Dhir, a VE alum from West Hempstead High School in Long Island and current finance student at Fordham University, who will graduate in 2020.

2018-19 VE Token Exchange Highlights






Token Volume

Screenshots from the VE Token Exchange

News & Events

VE Students Featured By News Organizations Around the U.S.

Quiana L., CEO, No Coast Soap
Bellevue East High School
Bellevue East, Nebraska

News & Events

Taking Experiential Learning Beyond the Classroom

National Online Competitions

  • Elevator Pitch
  • Company Branding
  • E-Commerce Website
  • Company Newsletter
  • Video Commercial

Youth Business Summit

Sponsored By HSBC

  • International Trade Exhibition
  • Global Business Challenge Powered By Intuit Education
  • National Business Plan Competition
  • National Human Resources Competition
  • National Finance Competition
  • National Marketing Competition
  • Best Booth Competition
  • Sales Pitch Competition
  • Sales Materials Competition
  • #2019YBS Kickoff Party and International Fashion Show Sponsored By Viacom

Regional Conferences & Exhibitions

  • Bay Area
  • California State
  • Florida Regional
  • Great Lakes Regional
  • Long Island Regional
  • Los Angeles Area
  • Northeast Regional
  • San Diego
  • Southern Regional

Live Regional Competitions

  • Booth Design
  • Business Plan – Oral Presentations
  • Elevator Pitch (Live)
  • Finance Rubric (Live)
  • Human Resources
  • Impact Marketing
  • Marketing
  • Sales Pitch

Online Regional Competitions

  • Advanced Website
  • Business Plan – Written Submissions
  • Company Branding
  • Company Newsletter
  • E-Commerce Website
  • Employee Handbook
  • Elevator Pitch (Video)
  • Financial Statements & Highlights
  • Marketing Plan (Written)
  • Sales Materials
  • Video Commercial

2019 Youth Business Summit

4,600 Students From Around the World Competed, Traded, Learned




VE Companies Involved


Countries Represented

2019 National Business Plan Competition Results

1st Place

2nd Place

3rd Place

iKOMO, South Pasadena High School, CA
Coordinator: Cathy Mason
Team: Danielle Choy, Amanda Estevez, Lucas Halberg, Anna Riffle, Kayla Zhang

Current Threads, Bakersfield High School, CA
Coordinator: Ryker Solano
Team: Fatimah Ahmed, Elisabeth Hayward, Mazuengele Kulungu, Margo Kuney, Nicholas Oosthuizen, Nicholas Pardo

AstroDough, Syosset High School, NY
Coordinator: Kathleen Goldin
Team: Guy Bodner, Yan Luo, Ravin Mehta, Alex Rangell, Eric Rosenblatt, Jennie Tannenbaum

iKOMO is a platform that allows users to invest in online collectible pets. Through blockchain technology, users can hatch and interact with their digital companions.

Current Threads provides the highest quality of sustainable apparel, but also limits the global ecological footprint by utilizing renewable materials.

AstroDough is a unique, space-themed firm that provides a deliciously innovative, customizable, and safe edible cookie dough catering to the needs of dessert lovers with food allergies.

2019 YBS Partner Videos

2019 Gala: Change Lives, Change the World

Stockdale High School Students Earn $10,000 for Social Venture Pitch

On April 17, 2019, VE hosted its seventh annual Gala in New York City. Congratulations to Phoenix Wood from Stockdale High School in Bakersfield, CA, winners of the 2019 VE Social Venture Challenge. Thank you to BNP Paribas for sponsoring the challenge and Jay Novik of Black Diamond Capital Partners for sponsoring this year’s prizes.

Special thanks to the night’s honorees and titan business leaders of the VE Social Venture Challenge judges’ panel: Helen Avery, Editor, Euromoney Magazine; Robert W. Hawley, Jr, CEO of CIB Americas and Head of Global Markets, Americas; Jeff Raider, Co-Founder, Harry’s and Co-Founder, Warby Parker; Jay Williams, ESPN Host, Former NBA Star; and Leilah Doran, the 2019 Joseph P. Delaney Alumni Award Recipient.

Partners & Supporters

Intuit Partners with Virtual Enterprises International to Provide QuickBooks Online and Design for Delight to Thousands of Students Across the U.S.

At the start of the 2018-19 school year, Intuit and VE launched a new partnership to provide QuickBooks Online and Design for Delight to every VE class in the U.S. In addition, Intuit provided mentorship to students, invited students from James Logan High School in Union City, California to connect with business leaders at their QuickBooks Connect event in San Jose, Intuit’s CEO Brad Smith shared his leadership and business insights with VE students at an event in California, and Intuit sponsored the 2019 Global Business Challenge.

“Intuit’s mission is to Power Prosperity Around the World and as part of that mission, we are committed to supporting the career and financial readiness of today’s students. We do this by providing free access to leading real-world tools such as QuickBooks, Mint, Turbo, and Turbo Tax along with supporting educator resources. We look forward to partnering with VE to help every VE student power their future prosperity by building critical 21st century skills.”

- David Zasada, Vice President of Education, Intuit

Partners & Supporters

VE and New York Life Foundation: Transforming Middle School Students Through the VE-JV Career Academy

VE-JV Career Academy is a two-year program enabling 7th and 8th grade students to develop technology and entrepreneurial skills by starting and managing business ventures. The classroom is converted into a workplace setting that allows a real-world context for learning about business and careers. With support from the New York Life Foundation, the VE-JV Career Academy grew from three pilot schools in New York to 40 schools across Florida, Los Angeles, and New York in the last four years.

Given this success, the New York Life Foundation will continue to support the program with a three-year grant of $750,000. VE expects to run the program in 50 schools serving a total of 9,000 students by the 2020-21 school year. Read more here.

“Kids at this age are trying to determine ‘Who am I?’ and programs like this help in that identity formation, and help young people develop the academic skills but also the 21st century skills that they’ll need in today’s workforce.”

- Marlyn Torres, Corporate VP and Corporate Responsibility Senior Program Officer, New York Life Foundation

Partners & Supporters




Black Diamond Group

Cantor Fitzgerald Securities


Credit Suisse

Digital Risk

Financial Women’s Association of New York

Goldman, Sachs & Co.

Nomura Securities International Inc


NYC & Company

Office Equipment Company



Starwood Property Trust Inc

Stella & Chewy’s LLC

Tilden Park Capital Management LP

Wells Fargo

Wilson Sonsini Goodrich & Rosati Foundation

Post-Secondary Institutions

Education-Related Organizations

Donors & Supporters




New York Life


Bank of America
Capital One
Sandra & Eric Krasnoff
Long Island Community Foundation
Long Island University
Jay Novik


BNP Paribas
Cantor Fitzgerald Securities
Matt Chasin
Credit Suisse
Brady Dougan
TJ & Stephanie Durkin
Ashley Fina & Guillermo Drew-Bear
Goldman, Sachs & Co.
Mary Haggerty
JPMorgan Chase
Jay Lewis
Curtis Luckman
Mercy College
Marie Moody
Nomura Securities International, Inc.
Starwood Property Trust, Inc.
Jeffrey & Jaclyn Taylor
Tilden Park Capital Management LP


Rob Amato
American Portfolios Holdings, Inc.
Christopher Burnett
Michael Coneys
Council of School Supervisors and Administrators
Paul Cronin
Joseph & Nancy Delaney
Jeff DiModica
Ravi Desai
James Deutch
Scott Eichel
David Hammond

Inland Empire Center for Entrepreneurship (IECE)
Steve Israel
Marc & Jennifer Lessner
Jeff Mayer
RJ & Lori Madden
Joseph Ng
Michael Nierenberg
Randy Reiff
Warren Rosen
Jerome & Stacey Schneider
Nicholas Smith
TD Bank, N.A.
Wilson Sonsini Goodrich & Rosati Foundation

Up to $5,000

Glen Abbott
Harry Alexandre
Steven & Elyse Alper
Mike Akker
Bakersfield West Rotary Stroope Family Foundation
Cindy Barsky
Joshua Baumgarten
Mike Beck
Alexander C. Bell
Todd Bellistri
Abdel-Kader Ben-Mohamed
Jared Berger
Gene Bernstein
Stephen Beyer
Michael Bissmeyer
Jaime Blanc & Derek Feinman
Sara Bonesteel
Matthew Boone
Cindy Boyd
Calgary Branagan
Mitch Braunstein
Peter Breckling
Stephen Breskin
Lloyd Bromberg
Michael Brownstein
Bridget Byrnes
Mara Canner
Jennifer Capasso
Julio Cardenas
Matthew Carr
Joseph Casper
Douglas Catalano
Charity Buzz
Bryan Chao
Nick & Julie Chapman
Gerry Chasin
Christy Yingyu Chen
Simon Chow
Vanessa Chrifi
Dr. Kimberly R. Cline
Shelley Cloyd
Ken Colao
College of Mount Saint Vincent
Concordia College New York
John Contant
Jason Corn
Andrew Corrigan
Mike Cunningham
Diana Curbelo
Timothy Daly
Anthony Danieli
Jake Davies
Sarah Dearie
Anthony Debellis
James Del
Lauren Dorman
Robert Durden
Sean Egeran
Jesse Elhai

Eric Elliot
Emmelle Boutique
Cara Epstein
Jared Erbst
Fairleigh Dickinson University
Randye Farmer
Fashion Institute of Technology
Arlene Fauser
Chris Flatz
George Fina
Jeffrey Fina
Lynne Fina
Michael C. Fina
Cynthia Fisher
Rebekah Flig
Moe Fodeman
Daniel Freuman
Daniel Frommer
Carlos Garza
Joseph Gaviria
Abigail Geller
Gerstein Fisher
Maureen Gillan-Myer
Ronnie B. Giordano
Robert J. Giordano
Cheryl Glory
Angelo Gordon
Sofia Grafanaki
Melissa Grappone
Anthony Green
Alexander Greenberg
Lynne Greene
Terry Greene
Alan Greenwald
Gina Grillo
Karen Grinthal
Adam Gross
Beth Grossman
Mariel Mangold Grossman
Mary Grotto
Felicia Grumet
Andrew Gulla
Warren & Carol Hall
Michael Hamilton
Dalf Hammerich
Josh Halegua
Paul Haskin
Jason Hauf
Michelle Heintz
Adam Henrick
Daniel J. Hoffman
Dylan Huang
Zhen Huang
Zhiqin Huang
Fiona Finlay Hunt
Andrew Ibrahim
Giuseppe Imbriano
Jake Israel
Michael Israel

Yong Joe
Ray Johnson
Teri Jones
Jack Kattan
John Keller
Scott Kidder
Patty Kim
Ronny Kobo
Daniel Kowarski
David Knox
Bernadette Kriftcher
Wendy & Jerry Labowitz
Nancy Langson
Lynda & Mario Lazzari
Lara Leaf
Mi Jong Lee
Mark Lipari
Keith Lind
Allan & Joan Loren
John Lucas
Philippe Malebranche
Laura Mastro
Laura Mastrogiovanni
Riccy Reed Mandel
Cassandra Marteney
Marcy & Greg Maybaum
Jared McGill
Mark Meehan
Rochelle Menda
Ellen Meril & Nancy Delaney
Eloise Messineo
Greg Miller
Hayley Miller
Doug Millowitz
Curtis Minnis
Evan Mittman
Raul Moreno
Tiffany Morrison
M. Schamroth & Sons
Charles H. Perl & Dr. Carol Mutterperl
Ruthie Nachmany
Timothy Paul Nagi
Gabriella Nawi
Jackie Neisch
Heather Nesle
Donna Newman
Notre Dame Alumni Club of Staten Island
Stuart Odell
Office Equipment Company
Fukiko Ogisu
Michael Olshan
Aaron Ong
Andreas Pafitis
Ellen Palazzo
Jacob Panero
Priya Parasher
Phyllis Parillo
Bret Parker

Jared Parker
John Partilla & Jackie Forzano
David Peace
Penn Oberlander Family FDN, Inc.
Jordan Perlman
Matthew Perlman
Joseph Perrone
Clelia Peters
Gavin Petracca
Louise Phillips
James & Nancy Quinn
Perry Rahbar
Joseph Reardon
Luke Robinson
Sarah Salanic
Diana Sanchez
Patrick Sandefur
Kip Schaefer
Gabriel Schneider
Stephanie Schneider
Adam Schwartz
Chris Scott
Karen Segal
Celine Seker
Jerome Shapiro
Brian Sigman
David Silver
Kerry Smith
Thomas Smith
Solano Community College
Laura Solin
Stephanie Astic Productions
Sharon Sternheim
Ashley & David Sterrett
Jessica Stevens
Danielle Strle
Jake & Deborah Stuebbe
Marcie & Miles Stuchin
Kathryn Swintek
Owen Tickli
Rhiannon Toan
Claire Tomasi
Kristien Turner
United Federation of Teachers
Nico Valencia
Steven Valentic
Evert Vink
Steven & Helene Walsey
Dierdre Whitman
John Widlund
Tom Wirtshafter
Samuel Wong
Daniel Wrublin
Lauren Wrublin
Nelson Young
Rob Zahra
Will Zak
Mei Zhang
Kyle Zheng



Description Amount
Public Support $1,832,679
Program Services $1,473,437
In-Kind $1,203,840
Special Events $380,547
Other $7,783
Total Public Support and Revenue $4,898,286


Description Amount
Program Services $3,561,228
Administrative Services $397,374
Fundraising $329,327
Total Expenses $4,287,929

In 2018-19, Maureen Gillan-Myer, Chief Human Resources Officer at HSBC Bank USA, was appointed to VE’s board of directors.

“I look forward to joining VE’s Board of Directors and bringing my knowledge and experience as an HR executive from one of the world’s largest banking and financial services organizations to help inform how VE prepares students for the workforce, and how they develop leadership skills needed for success in their futures.” – Maureen Gillian-Myer

About VE

VE transforms students through authentic business experiences that prepare them for fulfilling, financially secure futures. Since its inception in 1996, VE has served over 156,000 students, including many from economically disadvantaged communities. We currently support 16,000+ students across the U.S. each year and are part of a global network spanning 40 countries and 7,500 student-run businesses.

Learn more about VE

Photos provided by Jeffrey Holmes, editing contributions provided by Barbara Shore, and writing contributions provided by Rossana Weitekamp and Sonja Visser.