Application Dates and Deadlines

Applications OpenApplications DueInterviewsDecisions Communicated
Round One3/1/20224/2/20224/5-4/16/20224/23/2022
Round Two4/5/20224/23/20224/26-5/7/20225/14/2022
Round three(decisions rolling)4/26/20225/28/2022RollingRolling

Apply to the Internship Fund for Social Impact

Applications for 2023 Summer funding will open in March 2023.

Below you will find the Internship Fund for Social Impact’s current application/interview criteria. If you have any questions, feel free to contact us at  bu.funding@gmail.com.

2022 Application/Interview Criteria

Please note: the maximum funding amount is $7,000 for a full-time summer internship, defined as 40-hours per week and a minimum of eight weeks. Students applying with two 20-hour per week internships will be able to submit two applications for $3,500 each.

Applications will be assessed against the following criteria:

  1. The sponsoring organization has a well-articulated social impact mission and is also a recognized 501© nonprofit, certified B-Corp, Public Benefit Corporation, or a public sector organization. IFSI will also consider an organization that has a well-articulated social impact mission and is also a certified Minority Business Enterprise.
    • A public sector organization is one that is operated by a state or the federal government.  
    • IFSI will consider applications for funding even if the sponsoring organization has not attained legal status as a 501 © or Minority Business Enterprise provided the organization has a well-articulated social impact mission and will attest in writing that the organization meets the legal requirements for attaining such status.  
    • IFSI will consider applications for funding even if the sponsoring organization has not attained legal status as B-Corp provided the organization has a well-articulated social impact mission and will attest in writing that the organization is in the process of attaining certification either through B-Lab or their state’s law.  
    • Although IFSI aims to provide funding students pursuing under- or unpaid purpose-driven internships, IFSI does not guarantee funding to any applicant. 
    • Please see the FAQ’s for more information. If you are unsure if your internship qualifies, please contact the IFSI Leadership Team at bufunding@gmail.com
  2. The summer internship is unpaid or underpaid (currently defined as less than $7,000 for at least 40-hours per week and a minimum of eight weeks during summer 2021). Internships that are not full-time will be prorated, but can be funded no more than the $7,000 maximum.
  3. The student has petitioned/negotiated for some stipend from the sponsoring organization, as well as other relevant avenues (school-specific grants, scholarships, etc.). 
  4. The summer internship will be overseen by a manager, supervisor, etc., and the project must be clearly defined with appropriate performance milestone assessments. The project cannot be an academic research opportunity.
  5. The summer internship cannot be a position within any school at Boston University or led by a Boston University faculty or staff member. The internship cannot be overseen by another MBA student or at a company owned or operated by another current MBA student. Exceptions may be made when working for a student in the PEMBA program.
  6. The candidate demonstrates an enthusiasm for the mission of the Internship Fund for Social Impact and a willingness to support the organization in the future as a spokesperson and advocate.

Commonly Asked Questions

All Boston University MBA students are eligible to apply for funding. Candidates should have secured or be actively pursuing a summer internship within the field of social impact or that creates a larger social good.

Based on the above timeline, students should take time to thoughtfully craft their written responses and submit an updated resume. After both application periods have closed, applications will continue to be considered on a rolling basis. Selected students will be interviewed by the review committee composed of second year Internship Fund for Social Impact committee members and past recipients.

Organizations that have a well-articulated social impact mission make the achievement of a positive impact* on society and/or the natural environment an explicit priority and an essential element of their purpose.  This fundamental commitment should be accompanied by specific strategies for significant, measurable, and transparent impact.

*A good indicator of positive impact is meeting one or more of the UNSD goals.

Funding applications will be considered for amounts up to $7,000. If an internship is 100% unpaid, students can apply for $7,000. If an internship offers a stipend or an hourly wage that is less than 76,000 for a 8-week period, students can apply for the remainder needed to reach $7,000. Example: If an internship offers a stipend of $2,500, a student can apply for $4,500.

Internship Fund for Social Impact recipients are expected to assist in furthering the Fund’s efforts. Recipients will be asked to write about their summer experiences, complete video interviews, join donor pitches, interview new applicants, and contribute to the Internship Fund for Social Impact’s mission in other ways.  In addition, it is our hope that recipients will consider “paying it forward” in the future, to whatever extent is financially feasible.

Provisional approvals: If a student has received an official summer internship offer, but has not formally accepted that offer, the student may apply to the Fund for provisional approval. The Fund will assess the application and provide a decision to be confirmed upon the student’s acceptance of the internship. The provisional approval cannot be transferred to an internship with a different organization or an internship that is significantly different from the one described during the initial application process. The student may reapply for funding for the new internship.

The Internship Fund for Social Impact criteria may be revised prior to each application period in order to meet the Fund’s definition of social impact. Therefore, it is possible that an internship organization funded in the past would not meet the criteria to be funded in the current year.

The Internship Fund for Social Impact will calculate the hourly rate based on a 320 hour internship (40 hours/week for 8 weeks). This hourly rate will be applied to the number of internship hours in the part-time internship for up to 8 weeks in the months of June, July and August, and can be funded no more than the $7,000 maximum.

Funds are distributed to the recipients’ student account. Recipients can see this distribution by navigating to Student Link > Money Matters > Student Account Inquiry and selecting the ‘Summer’ semester from the dropdown options. To disburse your funds from your student account follow the instructions for “Request a Refund.” Please note that it may take up to four weeks to see the funds in your student account after a funding decision is communicated by the IFSI leadership team. The disbursement process is managed by BU administrators, and not the IFSI leadership team.