Philanthropy: Meet the Hard-Nosed Do-Gooders

A NEW GENERATION OF GRADUATES IS FINDING MARKET-BASED SOLUTIONS FOR PROBLEMS IN THE NONPROFIT WORLD--AND GETTING PAID FOR IT

For six years straight, Aaron Mihaly spent his summer vacations toiling for nonprofits in Latin America. So when he told friends and family what he would be doing last summer--an intensive program at an Ivy League business school--they thought he had given up on changing the world. "The common reaction I got was 'You're selling your soul to the devil,'" says Mihaly, 23, with a laugh.

Far from it. This fall Mihaly moved to Mozambique and dedicated himself to fighting poverty. But he carried a new weapon in his battle against social ills: aggressive business skills, taught in a new program...

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