Schulich logo The word Schulich Schulich Wordmark The word Schulich with the words Leading Change Schulich Logo The Schulich logo Schulich 50th Logo The number 50 Search An icon depicting a magnifying glass Envelope An icon depicting an envelope Phone An icon depicting a phone Fax An icon depicting a fax machine Map Pin An icon depicting a map pin People An icon depicting two people Graduation Cap An icon depicting a graduation cap Menu An icon depicting three lines Close An icon depicting an X Arrow Up An icon depicting an upward facing arrow Arrow Right An icon depicting a right facing arrow Arrow Down An icon depicting a downward facing arrow Arrow Left An icon depicting a left facing arrow Plus An icon depicting a plus sign Minus An icon depicting a minus sign Chart An icon depicting a chart Book An icon depicting a book Envelope An icon depicting a stamped envelope Dollar Sign An icon depicting a dollar sign Briefcase An icon depicting a briefcase Page An icon depicting a single page Share An icon depicting three connected dots Alert An icon depicting a triangle with an exclamation point Calendar An icon depicting a blank calendar Event An icon depicting a blank calendar Add Event An icon depicting a calendar with a plus sign on it Event Details An icon depicting a calendar with a question mark on it Print An icon depicting a printer Comment An icon depicting a speech bubble Feed The RSS icon Details An icon depicting a page with three lines of text Facebook An icon depicting the Facebook logo Twitter An icon depicting the Twitter logo YouTube An icon depicting the YouTube logo LinkedIn An icon depicting the LinkedIn logo Instagram An icon depicting the Instagram logo Long Arrow Left An icon depicting an arrow pointing left Long Arrow Down An icon depicting an arrow pointing down Flexible Study Options An icon depicting a branching line Awards An icon depicting a ribbon Advisory Board An icon depicting a round table Graduate Diploma An icon depicting a graduation cap Professional Designations An icon depicting a certificate Academics An icon depicting an academic building Schulich Logo The Schulich logo Academics An icon depicting an academic building Globe An icon depicting the globe with an arrow circling it Globe An icon depicting the globe with an arrow circling it Award Ribbon An icon depicting a ribbon Teacher An icon depicting a teacher pointing at a blackboard Double Location An icon depicting two location pins Wireframe Globe An icon depicting a wireframe globe Airplane An icon depicting an airplane Play Icon in the shape of a play button as found on videos Full-time Icon representing a full-time program Part-time Icon representing a part-time program Full-time Accelerated Icon representing a full-time accelerated program Part-time Accelerated Icon representing a part-time accelerated program Program Details Icon representing program details Program Tuition Icon representing tuition and fees Career Opportunities Icon representing program details Accreditations Icon representing program accreditations Program Options Icon representing program options Requirements Icon representing program requirements Courses and Electives Icon representing program courses Faculty Icon representing program faculty Clubs Icon representing program clubs Courthouse Icon representing a courthouse Oil Icon representing an oil droplet Retail Icon representing a shopping bag Food Icon representing a fork and knife Construction Icon representing a hammer and wrench Person A silhouette of a person Person An outline of a person Folder An outline of a folder Pie chart An outline of a pie chart Graph An outline of a bar graph Save An arrow pointing into a box Play An outline of a play arrow Key An outline of a key Ticket An outline of a ticket Books Two books Computer A laptop computer Globe An outline of a globe Plane An outline of a plane Accelerated Program An outline of a fast-forward button Part-time Program An arrow arcing around a clock Viewbook An outline of an open book Medal A medal with a star Professor A lecturing professor Suit A person wearing a suit Laptop Laptop computer (by FlatIcon) Locked Closed Access Unlocked Open Access Google Scholar Google Scholar icon Calendar An icon depicting a blank calendar India An icon depicting a Indian landmark Report An icon depicting a briefcase Skip to content

Schulich grad trades financial profit for social capital

  • Future Students
  • Current Students
    Undergraduate Students ›Graduate Students ›PhD Students ›
     › › › ›
  • Alumni
    • Mentorship & Volunteering ›

      Alumni Benefits ›

      Success Stories ›

      Common Questions ›

      Contact Alumni Relations ›

    • Alumni Events ›

      Global Alumni Chapters ›

      Alumni Services for Students ›

      Alumni Recognition Awards ›

    Overview ›Alumni Career Portal ›Online Community ›
     › › › ›
  • Donors
    • Ways to Support ›

      The Impact of Giving ›

      Sponsorship Opportunities ›

      Leaving a Legacy to Schulich ›

      Contact Development Office ›

    • Schulich Priorities ›

      The Schulich Annual Fund ›

      The Dean’s Society ›

      Tribute Giving ›

    Overview ›Donate Now ›
     › › › ›
  • Recruiters
  • Media
MySchulich
Schulich School of Business
  • Future Students
  • Current Students
    Undergraduate Students ›Graduate Students ›PhD Students ›
     › › › ›
  • Alumni
    • Mentorship & Volunteering ›

      Alumni Benefits ›

      Success Stories ›

      Common Questions ›

      Contact Alumni Relations ›

    • Alumni Events ›

      Global Alumni Chapters ›

      Alumni Services for Students ›

      Alumni Recognition Awards ›

    Overview ›Alumni Career Portal ›Online Community ›
     › › › ›
  • Donors
    • Ways to Support ›

      The Impact of Giving ›

      Sponsorship Opportunities ›

      Leaving a Legacy to Schulich ›

      Contact Development Office ›

    • Schulich Priorities ›

      The Schulich Annual Fund ›

      The Dean’s Society ›

      Tribute Giving ›

    Overview ›Donate Now ›
     › › › ›
  • Recruiters
  • Media
  • Programs
    & Courses
    • Program Finder ›
    • 5-Minute Suitability Questionnaire ›
    • Undergraduate

      BBA ›
      iBBA ›

      Master of Business Administration

      MBA ›
      MBA in India ›
      MBA / Juris Doctor ›
      MBA / MFA / MA ›
      Kellogg-Schulich Executive MBA ›

    • Specialized Masters Programs

      Accounting ›
      Artificial Intelligence ›
      Business Analytics ›
      Finance ›
      Health Industry Administration ›
      Management ›
      Marketing ›
      Real Estate & Infrastructure ›
      Supply Chain Management ›

    • Exchange

      Incoming Exchange and Programs ›

      Graduate Diplomas

      Post-MBA Diploma in Advanced Management ›
      Intermediate Accounting ›

      Doctor of Philosophy

      PhD in Administration ›

     › › › ›
  • Admissions
    • Undergraduate

      Apply Now ›
      Admissions FAQs ›
      Connect With Us ›
      Meet the Team ›

    • Graduate

      Apply Now ›

      Tuition Fees & Costs ›

      Application Tips ›

      Connect with Us ›

      Admission Events ›

      Meet the Team ›

    Admissions Requirements ›
     › › › ›
  • Faculty
    & Research
  • Student Life
    & Services
    • Case Competition Program ›
      Centre for Career Design ›
      Event Calendar ›
      Financial Aid ›

    • International Relations ›
      Libraries ›
      Services for Students ›
      Student Life at Schulich ›

     › › › ›
  • About
    • Our Dean ›

      Rankings ›

      Equity, Diversity, and Inclusion ›

      Case Competition Program ›

      Schulich Startups ›

      Year-End Report ›

      News & Events ›

      Contact Directory ›

    • Our Heritage ›

      Recruit at Schulich ›

      Work at Schulich ›

      Hospitality & Hotel Services ›

    Learn more about Schulich ›
     › › › ›
  • Executive
    MBA
    • Program Information

      Overview ›

      Program Details ›

      Schedule & Courses ›

    • Admission Requirements ›

      Tuition Fees ›

    Are you EMBA ready? ›Request a pre-assessment ›

     

    Contact us at 416-736-5486 or emba@schulich.yorku.ca​

     › › › ›
  • Executive
    Education
  • MySchulich

About

About › News & Events

  • ‹ News Feed
  • May 1, 2012

    Schulich grad trades financial profit for social capital

    After 25 years in the corporate world, including CEO positions at HMV Canada and BMG Music Canada and stints at senior jobs in the United States, Schulich grad Paul Alofs (MBA ’83) jumped to the non-profit sector to run the fundraising efforts at Canada’s leading cancer hospital, the Princess Margaret.

    In nine years there he has helped raise $550-million, and now he is leading a new quest for $1-billion to finance research into personalized cancer treatments, wrote The Globe and Mail on Sunday, April 29th. Mr. Alofs is also about to launch a book, Passion Capital, offering his view on how institutions can harness workers’ energy and intensity.

    Why did you shift from the corporate world to run a major non-profit charity?

    My mother passed away from cancer in 2002. That was the huge motivator [and] inspiration. Also [I talked to] a fellow who was providing executive coaching and advice. One thing he said that really stuck with me was, if you can find something in your life that makes you cry, and you can do something about it, then that’s what you should be doing. That was a profound inspiration to me.

    Were you also looking for a new challenge from a work perspective?

    [I had] a short but very profitable stay in the dot-com world in 1999. So I had a little bit of money [and was] able to say, what exactly do I want to do next with my life? I was doing some other not-for-profit work and I was loving it. I started to think, okay, I’ve got all of this energy that I want to put forward, so what do I want to do next?

    How does your business background inform how you run this organization?

    The first two or three years on the job I thought, boy, the not-for-profit sector needs to learn so much from the private sector, in terms of effectiveness and efficiency. [But] as I got deeper into my work here, I started to get insights that were exactly the opposite – that the for-profit sector could learn so much from the not-for-profit sector.

    In what way?

    In terms of engaging people behind a strongly held vision, and engaging individuals to put their heart and soul into their work. The not-for-profit sector is served by volunteers. These are people who work for free and a lot of them report that this is the most fulfilling part of their week. [I realized that if] companies could engage people’s passion, they could be much more successful.

    You don’t like the term “not for profit.” Why not?

    Referring to this sector [in terms of] what we are not, as opposed to what we are for, is the wrong starting point. The sector has to do with capturing people’s stories, creating a cause and then trying to find the support to do something important for society. We generate social capital and good for society, [and that is] more important than a lot of other sectors that just generate profit.

    What is a better term?

    I think “social profit” is a great way to talk about it. We provide a social value to the community.

    Do people resist the idea that charities need to be more entrepreneurial?

    Yes, [but] there is a new world out there. Government does not have the money, [so] where is it going to come from? [We need] the best practices of the private sector, [while] recognizing the heart and soul and the passion that comes from people engaged in the social profit sector. Organizations that serve social causes need to be way more entrepreneurial and business-driven than they traditionally are.

    Your hospital’s fund-raising lotteries garner some criticism. Why do you use that means of raising money?

    The largest private sources of funding for cancer research in Canada are the two Princess Margaret lotteries. People say, “That’s terrible, that’s wrong, you shouldn’t have to run lotteries to support a top research centre.” [But] that is the reality of life. With all the cutbacks that are coming, organizations like ours will have to get a lot more creative about how we generate funds.

    What is your response to those who say you spend too much on prizes, marketing and administration for the lotteries?

    People win beautiful and amazing real estate that we have to pay for. We outsource [the lotteries] to a company based in Saskatoon. They do a spectacular job, and we don’t need to hire all those people. Without that funding we wouldn’t likely be one of the top five [cancer research hospitals] in the world.

    On our other fundraising activities, we spend money on marketing and telling our story. We do it very efficiently. If Bell is spending money on marketing their phones, or Roots is spending money marketing their leather jackets, then why wouldn’t a health-care organization spend a little bit of money, effectively telling their story, so that they can raise money to achieve their [goals].

    How do you get attention from donors?

    It is extremely competitive. We cut through the clutter by having a very focused statement of belief, and having the bold ambition to conquer cancer in our lifetime. That gets attention. We have an incredible number of events where doctors talk about how we are using the money. Whether someone buys a lottery ticket, or gives us a donation for $1-million, they can meet the doctors who are using their money.

    How important is marketing and advertising to the fundraising sector?

    What I have found is that 90 per cent of success is about the performance of your product or your organization, and about 10 per cent is about marketing. All of the success of Princess Margaret is about what goes on at the hospital. We’ve been recognized for our fundraising success and our marketing success, but without the people who deliver the care, the research and the science, there is absolutely no way we would be successful as a fundraising organization.

    What do you mean by “passion capital”?

    While I worked in the private sector it was all about financial capital [and] intellectual capital. Then there is technological capital. But to me all those were wanting. One of the things I’ve learned here is when you can align someone’s passion with their action, it becomes an incredible force. The world’s most valuable asset is passion capital.

    Would you ever go back to the private sector?

    Working in a cancer hospital all day is hard. But instead of pushing me away or making me feel burned out, it has engaged me and inspired me. [If I went back to the private sector] it would have to be something I was deeply passionate about.

    What is your advice to young people who would like to work in the not-for-profit sector?

    I think young people who will go on to really have great careers – both personally fulfilling and also very successful – will be individuals who go back and forth between the private sector and the social enterprise or not-for-profit sector. You will see people in a startup company, working for a large business, working maybe for a government department, [then] working for some social enterprise. The true leaders … will have spent time going back and forth between sectors.

    BIO

    Title: President and chief executive officer, Princess Margaret Hospital Foundation, Toronto

    Personal: Born in Windsor, Ont.; 56 years old.

    Education

    • Bachelor of commerce, University of Windsor
    • MBA from York University, Toronto

    Career highlights

    • 1978: Joined Colgate-Palmolive.
    • 1989: Became president of HMV Music Stores Canada.
    • 1995: Named president of BMG Music Canada.
    • 1997: Joined Walt Disney Co. in Los Angeles, running its 500 North American stores.
    • 1999: Worked briefly as head of online music site MP3.com, then returned to Canada as a private investor.
    • 2003: Named CEO of Princess Margaret Hospital Foundation.
  • Related Posts

    SOCM ›
  • Schulich - York University
    • Directions
    • Location Inquiries
    • Contact Directory
    • Event Calendar
    • MySchulich
  • Information for:

    • Future Students
    • Current Students Undergraduate
    • Current Students Graduate
    • Alumni
    • Donors
    • Recruiters
    • Faculty & Staff
    • Media
  • Go to:

    • About
    • Admissions
    • Faculty Listing
    • Student Life at Schulich
    • Services for Students
    • Wellness Suite
    • Privacy
    • Site Map
  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
  • Instagram

© Copyright 2023 The Schulich School of Business, York University.