2023-07-13T14:21:00-05:00 2022-08-31 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2021-09-01 455619310 THRIVE SCHOLARS THRI 6175809149 75 FEDERAL STREET SUITE 1250 BOSTON MA 02110 ANA ARCHIBALD COO 6175809149 2023-07-12 1 ANA ARCHIBALD 999009999 DANIELLE NIHILL P01350943 7819821001 2023-07-11 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z ANA ARCHIBALD 75 FEDERAL STREET SUITE 1250 BOSTON MA 02110 11903041 0 X WWW.THRIVESCHOLARS.ORG X 2014 CA TO HELP HIGH-ACHIEVING, UNDERREPRESENTED STUDENTS GRADUATE FROM TOP COLLEGES 17 17 254 483 0 0 13709581 11873680 0 0 10390 29351 0 0 13719971 11903031 1066291 4543722 0 0 3560288 7298026 0 0 2906341 2131668 4706660 6758247 16548408 6961724 -4645377 14006320 11146876 785512 2595462 13220808 8551414 X THE MISSION OF THRIVE SCHOLARS IS TO HELP HIGH-ACHIEVING, UNDERREPRESENTED STUDENTS FROM ECONOMICALLY DISADVANTAGED COMMUNITIES GET INTO AND GRADUATE FROM TOP COLLEGES EQUIPPED TO ACHIEVE THEIR FULL CAREER POTENTIAL. 0 0 11591894 4543722 THRIVE SCHOLARS HAS ACHIEVED TREMENDOUS RESULTS IN SUPPORTING SCHOLARS TO ENROLL IN TOP COLLEGES, EARN GREAT GRADES, AND GRADUATE CAREER-READY. OUR LATEST RESULTS SHOW THAT 92% OF THRIVE SCHOLARS ARE ATTENDING A TOP 100 COLLEGE, OVER 40% ARE GOING TO AN IVY LEAGUE+ SCHOOL (DEFINED AS THE IVY LEAGUE PLUS STANFORD, MIT, THE UNIVERSITY OF CHICAGO, AND DUKE), AND 98% GRADUATED FROM COLLEGE WITHIN SIX YEARS. OUR SCHOLARS HAVE AN AVERAGE GPA OF 3.42 UPON COLLEGE GRADUATION; 75% OF STEM SCHOLARS PERSISTED AND GRADUATED WITH A STEM DEGREE, AND OUR FIRST-YEAR COLLEGE SCHOLARS FINISHED THEIR FRESHMAN YEAR WITH AN AVERAGE GPA OF 3.4. OUR SCHOLARS ARE OUTPERFORMING THE GENERAL POPULATION AT TOP 100 COLLEGES, NOT JUST SIMILAR HIGH-ACHIEVING, ECONOMICALLY DISADVANTAGED, FIRST-GENERATION STUDENTS OF COLOR. THEY ARE 10% MORE LIKELY TO GRADUATE THAN THEIR MORE PRIVILEGED PEERS AND 25% MORE LIKELY TO PERSIST IN DIFFICULT STEM MAJORS.WE ATTRIBUTE THIS SUCCESS LARGELY TO OUR SIGNATURE SUMMER ACADEMY, A ROBUST 6-WEEK ACADEMIC PROGRAM DESIGNED TO DEMYSTIFY THE COLLEGE EXPERIENCE AND EXPOSE FIRST-GENERATION STUDENTS TO THE RIGORS OF COLLEGE. SINCE ITS INCEPTION, RESULTS HAVE BEEN OVERWHELMING: OUR SCHOLARS' GPAS INCREASED FROM 2.9 TO 3.4, STEM PERSISTENCE ROSE FROM 20% TO 75%, AND 6-YEAR GRADUATION RATES INCREASED FROM 90% TO 98%. 11591894 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 26 0 1 254 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 MA CA IL OH NY X ANA ARCHIBALD 6174104902 75 FEDERAL ST SUITE 1250 BOSTON MA 02110 STEVE STEIN CEO 40.00 X 359264 0 17595 KAREN WILLIAMS CHIEF PROGRAM & STRATEGY OFFICER 40.00 X 212376 0 16638 TAL GILAD CAO 40.00 X 209868 0 11987 ANA ARCHIBALD COO 40.00 X 211666 0 9097 DANIEL NAVISKY EAST COAST ED 40.00 X 136405 0 18603 MARTHA SANCHEZ ED LOS ANGELES 40.00 X 128500 0 5571 DALLAS PRIDE MANAGING DIRECTOR OF CAREER DEVELOPMENT 40.00 X 117860 0 11295 KYLIA KUMMER ED CHICAGO 40.00 X 121135 0 13171 NATHANIEL MARSH SENIOR DIRECTOR OF BUSINESS INTELLIGENCE 40.00 X 112609 0 11243 AVA ARCHIBALD CHIEF EQUITY AND INCLUSION OFFICER 40.00 X 76463 0 5595 MARTIN JACOBS CHAIR 3.00 X X 0 0 0 CALLUM HENDERSON TREASURER 3.00 X X 0 0 0 RUSSELL STEIN SECRETARY 3.00 X X 0 0 0 TIFFANIE BOYD DIRECTOR 2.00 X 0 0 0 BOB FUNARI DIRECTOR 2.00 X 0 0 0 PEDRO GOMEZ DIRECTOR 2.00 X 0 0 0 VANESSA GONZALEZ-LOPEZ DIRECTOR 2.00 X 0 0 0 JOAN HERMAN DIRECTOR 2.00 X 0 0 0 RICK HESS DIRECTOR 2.00 X 0 0 0 EVELYN HOU DIRECTOR 2.00 X 0 0 0 PAT KIRBY DIRECTOR 2.00 X 0 0 0 BRIAN LENIHAN DIRECTOR 2.00 X 0 0 0 SEAN LOGAN DIRECTOR 2.00 X 0 0 0 JIM LONDON DIRECTOR 2.00 X 0 0 0 TRISHA LONDON DIRECTOR 2.00 X 0 0 0 JESSICA PEREZ DIRECTOR 2.00 X 0 0 0 RENITA SMITH DIRECTOR 2.00 X 0 0 0 1686146 0 120795 9 0 1 0 ROBHANA MANAGEMENT 606 S OLIVE ST LOS ANGELES CA 90014 OFFICE RENTAL 181524 GREENWICH HARBOR PARTNERS LLC 995 MARKET ST SAN FRANCISCO CA 94103 EXECUTIVE SEARCH 128678 2 11873680 11873680 19359 19359 10002 10 9992 9992 9992 11903031 19359 0 9992 X 4543722 4543722 1242279 597717 187296 457266 4985098 3266225 836253 882620 79636 55695 13122 10819 410514 253944 72380 84190 580499 356525 97693 126281 110640 110640 2635192 1428666 619328 587198 63442 40729 6407 16306 473956 432164 11997 29795 460948 320275 45114 95559 326504 238954 4217 83333 53122 25099 20535 7488 31861 22138 3118 6605 BAD DEBT EXPENSE 500000 500000 PAYROLL AND BANK FEES 35353 9893 22073 3387 EVENT EXPENSES 15642 148 15494 16548408 11591894 2050173 2906341 8992906 4718489 4561183 5706046 107839 161881 218616 83849 94411 134767 109556 307564 76500 63925 118129 14006320 11146876 621476 2445261 164036 150201 0 785512 2595462 X 6539625 533905 6681183 8017509 13220808 8551414 14006320 11146876 -4645377 -24016 0 X 0 1 X 1 0 X 2796856 7301791 6592647 13709581 11873680 42274555 2796856 7301791 6592647 13709581 11873680 42274555 3032364 39242191 11266 2644 10390 19359 43659 89 89 42318303 0.92730 0.85120 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 89. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 63023 27713 35310 155593 56136 99457 134767 12226948 -24016 347933 323917 11903031 0 11903031 16896341 347933 347933 16548408 0 16548408 1 SCHOLARSHIPS AND OTHER FINANCIAL ASSISTANCE 433 1840172 2703550 COST COMPUTERS, SUPPLIES, TRANSPORTATION COSTS, FOOD COSTS AND LODGING COSTS PART I, LINE 2: THRIVE SCHOLARS PROVIDES FOUR-YEAR RENEWABLE SCHOLARSHIPS RANGING FROM $500-$2500 EACH YEAR, ALONG WITH COMPUTERS, HOUSING, AND SUPPORT FOR OTHER EXPENSES. STUDENTS RECEIVE SCHOLARSHIP CHECKS IN AUGUST AND IN JANUARY, AFTER HAVING COMPLETED A SCHOLARSHIP RENEWAL PROCESS, WITH INCLUDES SUBMITTING INFORMATION AND TRANSCRIPT WITH CUMULATIVE GPA THROUGH AN ONLINE FORM. IN THE RENEWAL FORM, STUDENTS MUST INDICATE COMPLETION OF ALL OF THE PROGRAM REQUIREMENTS. X X X X 0 0 0 0 0 0 0 0 0 STEVE STEIN CEO 329264 0 30000 0 0 0 9514 0 8081 0 376859 0 0 0 KAREN WILLIAMS CHIEF PROGRAM & STRATEGY OFFICER 202376 0 10000 0 0 0 6612 0 10026 0 229014 0 0 0 TAL GILAD CAO 202368 0 7500 0 0 0 4148 0 7839 0 221855 0 0 0 ANA ARCHIBALD COO 201666 0 10000 0 0 0 7499 0 1598 0 220763 0 0 0 DANIEL NAVISKY EAST COAST ED 128905 0 7500 0 0 0 4026 0 14577 0 155008 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY, BY A MAJORITY VOTE OF ITS MEMBERS, DESIGNATE AN EXECUTIVE COMMITTEE CONSISTING OF FOUR BOARD OF DIRECTOR MEMBERS AND MAY DELEGATE TO SUCH COMMITTEE THE POWERS AND AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION, TO THE EXTENT PERMITTED, AND, EXCEPT AS MAY OTHERWISE BE PROVIDED, BY PROVISIONS OF LAW. BY A MAJORITY VOTE OF ITS MEMBERS, THE BOARD OF DIRECTORS MAY AT ANY TIME REVOKE OR MODIFY ANY OR ALL OF THE EXECUTIVE COMMITTEE AUTHORITY SO DELEGATED, INCREASE OR DECREASE BUT NOT BELOW TWO (2) THE NUMBER OF THE MEMBERS OF THE EXECUTIVE COMMITTEE, AND FILL VACANCIES ON THE EXECUTIVE COMMITTEE FROM THE MEMBERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS, CAUSE THEM TO BE FILED WITH THE CORPORATE RECORDS, AND REPORT THE SAME TO THE BOARD OF DIRECTORS FROM TIME TO TIME AS THE BOARD OF DIRECTORS MAY REQUIRE. FORM 990, PART VI, SECTION A, LINE 2 PATRICIA LONDON & JAMES LONDON ARE BOTH DIRECTORS ON THE BOARD AND HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS A DRAFT OF THE 990 AND MAKES RECOMMENDATIONS FOR REVISIONS AND VOTES TO APPROVE IT. AFTER THIS THE ENTIRE BOARD REVIEWS THE 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER, AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; B. HAS READ AND UNDERSTANDS THE POLICY; C. HAS AGREED TO COMPLY WITH THE POLICY; AND D. UNDERSTANDS THE CORPORATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THIS IS MONITORED BY THE CHAIR OF THE BOARD. IF A CONFLICT EXISTS, THE INTERESTED PERSON(S) WILL BE EXCUDED FROM DISCUSSION AND/OR VOTING RELATING TO THE INTERESTED PARTY. FORM 990, PART VI, SECTION B, LINE 15 MARKET RESEARCH AND HR BEST PRACTICE RESEARCH IS DONE BY HR STAFF AND EXTERNAL CONSULTANTS TO ENSURE THAT TOP MANAGEMENT AND ALL EMPLOYEES ARE PAID APPROPRIATELY AND AT MARKET RATE. THE LAST TIME THIS DELIBERATION WAS PERFORMED WAS DURING FISCAL YEAR 2022. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATMENTS ARE MADE AVAILABLE UPON REQUEST. NO REQUESTS FOR INFORMATION WERE MADE DURING THE YEAR. FORM 990, PART IX, LINE 11G TEACHERS: PROGRAM SERVICE EXPENSES 1,190,069. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,190,069. RECRUITING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 364,626. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 364,626. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 238,597. MANAGEMENT AND GENERAL EXPENSES 254,702. FUNDRAISING EXPENSES 587,198. TOTAL EXPENSES 1,080,497.