Posted: 15 January 2008
UCD students represent Peter McVerry Trust in bid for $25,000 donation from JPMorgan
The “UCD Good Adventurers” team: Business and Law students, Laurance Banville, Barry Colfer and Patrick Rath, are one of nine undergraduate student finalist teams from across the world due to compete in the final of the JP Morgan Good Venture Competition in New York this week (14th -20th January 2008).
Each of the finalists will present their case to a panel of senior JPMorgan Investment Banking executives for why the philanthropic non-profit organisation they’re representing should receive the grand prize – a $25,000 donation from JPMorgan.
The UCD Good Adventurers, who are the only Irish team to have reached the finals, are representing the Peter McVerry Trust; a charity committed to reducing homelessness, drug misuse and social disadvantage in Ireland through its provision of housing and support services.
Pictured far right (from L-R): Barry Colfer, Fr Peter McVerry, Patrick Rath and Laurance Banville
The UCD student team will compete against teams from Harvard University, Brown University and Yale University, Columbia University, Stanford University, Washington & Lee University, Newcastle University, Mount Holyoke University, University of Pennsylvania.
“After meeting Fr Peter McVerry I was inspired by his enthusiasm for helping young people to overcome their social problems and succeed in life,” says Laurence Banville, one of the UCD Good Adventurers.
“Seeing the work of the Trust, I feel privileged to have been born into the family and social setting I grew up in,” he continues. “I believe that this charity is an investment in making Dublin a better place.”
The winner of the competition will be announced on 18 January 2008.
Peter McVerry Trust
Over the next six years, the Peter McVerry Trust has plans for a Respite Housing Project and to further develop its Apartments Scheme. It aims to increase the number of apartments by four per year and it is actively searching for the Respite Project premises. The Respite Project is critical in preventing young people relapsing.
The $25,000 prize money from the JPMorgan Good Venture Competition would be critical to the Trust in fulfilling this aim. The Irish government has agreed to refund 95% of the purchased premises to the Trust. Therefore the $25,000 donation would have the value of a $500,000 donation. The donation would effectively purchase two apartments costing $250,000 each. It would facilitate the re-integration of many young people back into society helping individuals to establish a life in a stable and drug free environment.
Founded in 1983, the Peter McVerry Trust supplies friendship, support and a place to live for the most marginalised young people in Irish society. The organisation operates in the context of homelessness and drug abuse. It is estimated that there are 15,000 heroin users in Ireland, of whom 12,500 live in the Dublin area. To cater for drug abusers there are only 28 detoxification beds in Ireland. Of these 28 beds, 25% are operated by the Peter McVerry Trust and are entirely self-funded.
