Thrive Scholars Annual Report

ANNUAL

Impact Report FY2023

In this Report We provide high-achieving students of color from economically under-resourced communities the opportunities they need to thrive at top colleges and in meaningful careers.

Welcome Letter........................................ 3 Our Scholars.............................................. 4 6-Year Program Overview..................... 5 Our Impact................................................. 6 Summer Academy.......................................... 6 College Access................................................. 7 College Success............................................... 8 Career Pathways............................................. 9 Scholar Satisfaction........................................ 10

OnRamp Program.................................... 11 Regional Highlights................................. 12 Strategic Plan........................................... 15 Corporate Partnerships.......................... 16 Individual, Family, and Foundation Donors......................... 17 Multiyear Donors..................................... 18 Boards of Directors & Trustees............ 19 Financials................................................... 22 DEIB Statement....................................... 23

Dear Thrive Scholars Community, We are excited to present our inaugural Annual Impact Report, celebrating the significant strides made in 2023, fueled by the dedication of our high-achieving Scholars and your steadfast commitment.

Our Scholars are achieving awe-inspiring results, with resilience, passion, and dedication. Take Marco for instance, one of our newest Alumni who excelled in our Finance Career Pathway, and is now at Apple serving as a Finance Development Program Analyst, or Jaylen, nominated as a youth representative for the Mecklenburg County Juvenile Crime Prevention Council and pursuing a Master’s in Public Administration at Columbia University with aspirations for a career in law. These stories of triumph and determination are a testament to the incredible individuals we have the privilege to support and serve.

This Scholar success only happens because of our talented team who we are so proud to work with.

At the heart of this team is a strong culture with 4 out of 5 staff recommending Thrive as a great place to work on a recent survey. This positive feedback solidifies our commitment to fostering an inclusive workplace that flourishes on mutual support and well-established processes to enhance efficiency.

Looking forward, our focus remains on implementing our Strategic Plan to serve 5,000 students over the next five years, beginning with expanding Thrive Academies in Los Angeles and New York in the summer of 2024. Your support and contributions have been instrumental in tapping new territories to scale our impact. Thus far, we’ve secured more than $20M toward our $60M target.

Your ongoing partnership and generosity fuels our dedication to creating positive change, breaking systemic barriers, and contributing to a future where every talented student of color has equal access to higher education and meaningful careers that propel them into economic mobility.

Thank you for being an essential part of our story.

Steve Stein

Tyra Anderson Montina

Chief Executive Officer

President & Chief Operating Officer

THRIVE SCHOLARS

THRIVE SCHOLARS

3

1,007

3.92

85%

$40K

Scholars served in FY23

Average High School GPA

First-generation college students

We recruit and admit a group of talented high-achieving, under-represented students.

OUR SCHOLARS

Our Scholars

Average family income

Gender

5740+ 3+ 4538+ 15+ 1+ 1+

Women Men Non-Binary

57%

40%

3%

Race/Ethnicity

Latino Black/African-American Asian White Indigenous

45%

38%

15%

1%

<1%

4

6-YEAR PROGRAM OVERVIEW

6-Year Program Developed over 20 years, our comprehensive, data-informed model works. Our 6-Year Program supports high-achieving, underserved students of color to get into top colleges and graduate ready for top careers in leading industries.

Junior Year

Recruitment High School

Senior Year High School

1st Year College

2nd Year College

Summer Academy II

Summer Academy

3rd Year College

4th Year College

PostCollege

Recruitment

PROGRAM START

Mentorship Summer Academy I

College Access

College Success Career Pathways Alumni Support

Summer Academy

College Access

College Success

Career Pathways

Alumni Support

Our six-week academically rigorous program where Scholars prepare for college-level courseloads by taking 3 hours of college-level Math and 3 hours of college-level English taught by professors.

Summer Academy also has an empahsis on industry exposure and career pathways.

Thrive College Access Managers guide Scholars through the application and financial aid process, emphasizing attending a top college and securing zero or low loan awards. Scholars receive tailored guidance to ensure they apply, gain admission to, and attend best-fit, top-ranking universities.

Thrive College Success Managers ease the transition into college by providing individualized, ongoing support to Scholars. College Success Managers help Scholars create class schedules, host specialized workshops, and assist Scholars with locating accessible campus resources to ensure they are on track and excelling academically.

Scholars select from Career Pathways in Tech, Engineering, Law, Finance, Consulting, Life Sciences, or General Business.

Through Thrive’s program, Scholars receive personalized industry training, corporate mentorship, networking, career exposure, internship/full-time job opportunities, and dedicated support from a Thrive Career Coach.

Thrive Scholars alums join a dynamic network of professionals impacting various industries and benefit from access to resources for long-term professional development and career assistance. We encourage our alums to share their professional and life experiences to help pave the way for the next generation of Thrive Scholars.

5

Summer Academy Results MATH SCORE INCREASE

35

Percentage Points

Math scores showed a statistically significant average increase from 35 to 70 percentage points.

WRITING SCORE INCREASE

23

OUR IMPACT | SUMMER ACADEMY

Our Scholars have a transformative experience at Summer Academy.

Percentage Points

Writing scores showed a statistically significant average increase from 61 to 84 percentage points.

In comparison,

the average GPA at top colleges is 3.3.

FIRST YEAR GPA

3.4

Average GPA

6

College Access Results In comparison,

50% of similar students enroll in top colleges.

ENROLLMENT RESULTS

92%

Top 100 schools

81%

Top 50 schools

OUR IMPACT | COLLEGE ACCESS

Our Scholars are successfully admitted to top colleges around the country.

40%

Top 10 schools TOP COLLEGES WHERE WE HAD THE MOST SCHOLARS ENROLLED IN FY23

FEEL PREPARED

45 Scholars

28 Scholars

37 Scholars

27 Scholars

35 Scholars

25 Scholars

31 Scholars

24 Scholars

91% of Scholars feel prepared to apply to highly selective colleges after Summer Academy.

7

College Success Results ACADEMIC OUTCOMES

COLLEGE GRADUATION

3.5

89%

Average GPA

In comparison,

The average STEM persistence at top colleges is 56%.

71%

Within 4 years

99%

Within 6 years

OUR IMPACT | COLLEGE SUCCESS

Our Scholars have academic and personal success in college.

STEM Persistence FEELING PREPARED

81% of Scholars felt prepared for college after Summer Academy.

8

Career Success RISING SENIOR INTERNSHIP PLACEMENT

Up from 59% in Summer 2022.

73%

Summer 2023 JOB PLACEMENT

90%*

OUR IMPACT | CAREER PATHWAYS

Our Scholars successfully enter top careers.

By March 2024 (College Class of 2023)

Exceeds our goal of $67.5K, the starting salary of graduates from similar colleges.

AVERAGE SALARY

$80K

College Class of 2023

*Projected

9

been a place that welcomed me with open arms in a world that’s big, competitive, and unknown, especially when it comes to attending college and building your career.”

facilitate opportunities for me as an alum to both give back to the Thrive community and nurture my personal and professional development through board participation, mentoring, and more!”

–Imen

–Ericardo

COLLEGE

UC Berkeley Class of 2025

Thrive Scholars Alum COLLEGE

CAREER PATHWAY

Harvard University Class of 2019

Tech & Engineering MAJOR

CAREER

Electrical Engineering & Computer Science

Product Manager, August Schools Former Consultant, Deloitte

“With Thrive, I’ve discovered

a supportive haven where my dreams are nurtured, my potential is amplified, and every challenge becomes an opportunity for growth and success. When I think about my future, there are no limits.”

Scholar Satisfaction

83%

“Satisfied” or “Very Satisfied”

83% reported they are “Satisfied” or “Very Satisfied” with their support from Thrive over the past term.

80

Net Promoter Score

The overall NPS for the program is 80, which is a “World Class” score according to NPS creators.

89%

Agreed Relationship Managers are Valuable

89% agreed their Thrive Scholars Relationship Managers are valuable to their success.

OUR IMPACT | SCHOLAR SATISFACTION

“The Thrive community has

“Thrive Scholars continues to

–Angela

Thrive Scholars Alum COLLEGE

Bowdoin College Class of 2025 CAREER PATHWAY

Core

MAJOR

Physics & Environmental Studies

10

ONRAMP PROGRAM OVERVIEW

OnRamp Program Black/Generational African American* men face profound historical systemic barriers, leading to their under-representation in top colleges, corporate leadership, and advanced job roles.

To bridge this opportunity gap and counteract systemic racism, we empower these students with the opportunities and the preparation to excel through OnRamp, our free pre-college program.

What does the OnRamp Program provide?

OnRamp provides comprehensive support and leadership development to prepare highachieving Black/Generational African American boys for admission and success at leading universities by applying to our 6-Year Program and fosters readiness for impactful careers that establish the foundation for economic mobility.

Sophomore Year High School

Junior Year High School

Senior Year High School

1st Year College

3rd Year College

2nd Year College

OnRamp takes place between the spring term of the 10th and 11th grades. These students gain early access to our signature Summer Academy program, all while living on a college campus.

OnRamp Recruitment

6-YEAR PROGRAM START

Summer Academy I

Summer Academy II

Summer Academy

College Access College Success

*Defined as descendants of enslaved people in the United States

OnRamp prepares students for a seamless transition into our 6-Year Program.

Career Pathways

OnRamp Results

From our pilot cohort of 14 Scholars

46

Percentage points

Scholars showed a statistically significant average gain from pre-test to post-test (21 to 67 percentage points on a 100-point test).

86%

of Scholars feel prepared to pick high school courses

86% of Scholars strongly agreed that they feel more prepared for picking high school courses that will benefit their college journey.

11

Our Regions

Your Support Sparks Impactful Journeys

THRIVE SCHOLARS NATIONAL REACH

National*

Detroit

Launching in 2024

367 Scholars SERVED IN FY23

Boston Chicago

Cleveland

Major: Political Science and Government Career Pathway: Law

North Carolina Los Angeles

Jacksonville

Jaylen Columbia University, Class of 2026

New York Coming soon

NEW YORK

*National includes Scholars from all areas in the U.S. except the six regions below.

REGIONAL HIGHLIGHTS

Fostering Tomorrow’s Leaders

Jaylen’s Journey: From Advocacy to Action Jaylen is a driven individual whose passion for social justice and interdisciplinary learning shines brightly.

From her nomination as a youth representative for the Mecklenburg County Juvenile Crime Prevention Council to her pursuit of a Master’s in Public

We celebrate the more than 2,300 Scholars that have benefitted and participated in our program.

Administration and future aspirations in law, Jaylen exemplifies a commitment to creating positive change. Her experiences have honed not only her

Los Angeles LAUNCHED IN 2001

277 Scholars SERVED IN FY23

Boston

LAUNCHED IN 2015

165 Scholars SERVED IN FY23

Chicago

LAUNCHED IN 2020

60 Scholars

SERVED IN FY23

skills in critical thinking and problem-solving but also instilled in her a deep sense of accountability and compassion. Jaylen’s journey underscores the transformative power of education and community involvement in shaping future leaders dedicated to making a difference.

“I am driven by a passion for learning and a Cleveland

New York

Jacksonville

24 Scholars

100 Scholars

14 Scholars

LAUNCHED IN 2020

SERVED IN FY23

LAUNCHED IN 2022

SERVED IN FY23

LAUNCHED IN 2023

commitment to making a meaningful impact in diverse fields, from government to law, and beyond.”

SERVED IN FY23

See the following two pages for more stories

12

CLEVELAND

Marco

Nevaeh

Kwame

California Polytechnic State University, Class of 2023

Case Western Reserve University, Class of 2024

Carnegie Mellon, Class of 2027

Major: Business Administration, Management and Operations Career Pathway: Finance Current Role: Finance Development Program Analyst, Apple

Major: Accounting and Business/ Management Career Pathway: Tech and Engineering

From Thrive Scholar to Finance Development Program Analyst at Apple After completing two Summer Academies to prepare him for the rigors of college, learning how to be independent, and meeting life-long friends from across the country, Marco was amongst several of our corporate-sponsored Scholars in 2023. With his mentor and Thrive’s support throughout his college journey, he has landed several internships at leading companies including Zenith Insurance Company, Deloitte, The Davis Companies, and Apple. Marco is currently serving as a Finance Development Program Analyst at Apple.

“[Thrive Scholars] is a program that has changed my life in a multitude of ways.”

Nevaeh’s Pursuit of Success: A Corporate Partnership Triumph Nevaeh, a sponsored Scholar with our corporate partner STERIS, our biggest and longest-standing donor in the region, exemplifies the transformative impact of our program. In Northeast Ohio’s inaugural cohort, she completed a rewarding internship with STERIS, gaining invaluable experience and building crucial relationships.

Now attending of the region’s premier institutions, Case Western Reserve University, she nears graduation, poised for a successful future. Nevaeh is a testament to meaningful connections and real-world opportunities provided by Thrive’s program through corporate partnerships and dedicated supporters.

“

I am deeply grateful for the opportunities afforded to

Thrive Scholars Alum

me by this program. My internship at STERIS was truly transformative, providing me with invaluable experience and allowing me to forge important relationships. As I approach graduation, I am confident and excited about my future and how I can give back to my community, knowing that I am well-prepared for success thanks to the support and connections offered by Thrive.”

BOSTON

Major: Computer Science Career Pathway: Tech & Engineering

Trailblazing in Tech: Kwame’s First-Year Journey at Carnegie Mellon Meet Kwame, our First-Year Scholar at Carnegie

REGIONAL HIGHLIGHTS

LOS ANGELES

Mellon, making waves in Computer Science. This exceptional Klaviyo-sponsored Scholar not only excels academically but also gained valuable insights through a spring job shadow. Kwame’s ambition knows no bounds; this summer, he’s set to embark on a software engineering internship, a testament to the tangible impact of our academic and career pathway programs. Join us in uncovering Kwame’s journey, showcasing the intersection of academic excellence and real-world application.

“This year has been a year of learning for me.

From learning how to better manage my time to learning how to make websites using HTML, CSS and Javascript at Thrive, I feel like the more I learn, the more I get to know about myself.“

13

CHICAGO

L.J.

Daniel

Brown University, Class of 2028

Columbia University, Class of 2026

Major: Urban Studies Career Pathway: Core

Major: Political Science and Statistics Career Pathway: Law

L.J.’s Limitless Innovation: A Journey of Discovery and Impact

From Middle School Valedictorian to Thrive Scholar at Columbia University

Stepping into uncharted territory with boundless

Meet Daniel, a Kirkland & Ellis LLP-sponsored Scholar

curiosity, L.J. embarks on a journey of discovery

excelling at Columbia University. Starting with

with Thrive, driven by a desire to push the limits

outstanding academic achievements in high school,

of his potential. With a vision to create and

Daniel achieved a straight A Honor Roll from 7th-

innovate, he aims to harness the interdisciplinary

8th grades and earned the 8th-grade Valedictorian

complexity of urban design to bring fulfillment

status. Throughout high school, he maintained High

to his community through the built environment,

Honor Roll recognition and participated in esteemed

while also using this field of study to advocate

organizations like the National English Honors Society.

for inclusivity and accessibility in education and

Now, at Columbia, Daniel not only showcases academic

policy. His aspiration to make a meaningful impact

prowess majoring in Political Science and Government,

reflects his excitement for living fully.

but also embodies a strong commitment to leadership

“Through exploration and collaboration,

I aspire to bridge the gap between innovation and social impact, ensuring that the wonders of design benefit all.”

REGIONAL HIGHLIGHTS

JACKSONVILLE

and community service.

“I feel more confident in my study habits and

routines. I am confident in saying I am in a great place mentally, which will transfer to doing well academically. Thank you for your continued support!”

14

10 Regional Thrive Academies

FY23–FY27 Strategic Plan Update

Our five-year Strategic Plan aims to scale our impact to support 5,000 students over five years, up from 100 new students each year. This effort involves scaling our signature program—Thrive Academy—by opening 10 regional Thrive Academies and extending our Career Pathways program to ensure student exposure to high-trajectory careers. We will partner with other colleges and organizations to provide the additional support our students need, focusing on delivering those aspects ourselves that we do uniquely well.

$20M+ Raised

$60M

Fundraising Goal

Strategic Plan Supporters We are grateful for our inaugural Strategic Plan supporters to date who, collectively, have helped us raise more than $20M of our $60M goal.

Year One Milestone & Progress

Year Two Outlook

Anonymous

• ●In Los Angeles, BMO is taking a leading role

• ●Our first two Regional Thrive Academy sites

BMO

with a $3M commitment over three years to support BMO Thrive Academy-Los Angeles.

• ●We’ve met and engaged with dozens of

are on track to launch in Los Angeles (USC) and New York City (Mercy University, Manhattan Campus) in 2024.

community-based organizations in NYC and LA expressing interest in supporting Thrive Academies across recruitment, as program partners, and as college access service providers.

• ●Finalize decisions on impact measurement,

• ●Developed a Thrive Academy Playbook

Thrive Academies over the next five years.

featuring outcomes, policies, procedures, staffing, logistics and identifies all intraorganization contributions.

success metrics, student selection, outcomes data collection post-summer, and program changes for non-residential summer academies.

• Raise the funds needed to implement

FY23–FY27 STRATEGIC PLAN

Scaling Thrive Scholars

Broad Foundation CEDAR Foundation Ceres Foundation Citadel / Citadel Securities Deloitte Foundation General Motors Google Houlihan Lokey Pillsbury Winthrop Shaw Pittman, LLC Takeda

15

Thrive Scholars celebrates the generosity of the following companies who committed gifts at the following levels between September 1, 2022—August 31, 2023.

$1M OR MORE

$50K–$99K

$10K–$50K

Liberty Mutual Foundation, Inc.

BMO

BNY Mellon

Mesirow

Kenneth C. Griffin, Citadel and Citadel Securities

Capital Group Companies

AIG American General Life And Annuities American Realty Advisors

NAIOP Massachusetts

Amgen Foundation

The Neuberger Berman Foundation

Ballentine Partners, LLC

Nuance Communications, Inc.

Beach Point Capital Management

Peoples Gas Community Fund

Channing Capital Citi

Plymouth Rock Assurance Foundation

Dr. Scholl Foundation

TransUnion

The PLAYERS Championship

Goldman Sachs

Venable LLP

RS&H

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP

Vir Biotechnology, Inc.

Fairfax Financial Holdings Limited $250K–$1M General Motors STERIS $100K–$249K Google Kirkland & Ellis LLP

The Davis Companies FIS Galileo GEI Consultants, Inc. Latham & Watkins Paul, Weiss, Rifkind, Wharton & Garrison LLP

Nespresso USA

Schreck Rose Dapello Adams Berlin & Dunham LLP

Pillsbury Winthrop Shaw Pittman LLP

State Street Foundation

SunPower Foundation

The Timken Company Charitable and Educational Fund

Takeda

TJX Companies

Warburg Pincus

Wellington Management Foundation

Morgan Stanley

CORPORATE PARTNERSHIPS

Corporate Partnership Investments

VyStar Credit Union

JetBlue

Zenith Insurance Company

16

Thrive Scholars celebrates the generosity of the following donors who committed gifts at the following levels between September 1, 2022—August 31, 2023.

$1M OR MORE

$50K–$99K

Anonymous

Accelerate the Future Fund

Ceres Foundation

Alice P Chase Charitable Trust

Deloitte Foundation

Anonymous Anonymous—Cradle to Career Initiative

$500K–$999K Anonymous Ballmer Group CEDAR Foundation

$250K–$499K

Aulana and Bruce Peters Bruce and Jina Veaco Foundation Charles Hayden Foundation The Community Foundation for Northeast Florida David and Evelyn Hou David C. Miller Family Fund

Anonymous

Dori and Bill Walton

The Eli and Edythe Broad Foundation

Erin and Matthew Murphy

London Family Foundation

Frieze Family Foundation

Chuck and Jessica Myers

Bryan and Tara Meehan

Clarence Otis and Jacqueline Bradley

Carl & Ruth Shapiro Family Foundation

Dwight Stuart Youth Fund

Danny Sharp and Cecil Booth

The Edward and Ai O. Shay Family Foundation

David Bradley

Eric, Anne, Ryan and Kylie Harrison Eric Silberstein and Frances Liu Finnegan Family Foundation George H. and Jane A. Mifflin Memorial Fund Gratis Foundation The Green Foundation Gund Foundation Hestia Fund JHM Foundation

Gary and Nancy Chartrand Advised Fund

The Kenneth T. and Eileen L. Norris Foundation

Jerry Hausman

Kiera and James Carlisle

John and Vicky Whitley

Lia and William Poorvu

Lloyd G. Balfour Foundation, Bank of America, N.A., Trustee

The Louis & Sandra Berkman Foundation

The Chicago Community Trust

Michael Ward and Jennifer Glock Foundation

Molly Shannon

Jack Kent Cooke Foundation

Norcross Foundation

Jean Perkins Foundation

Pamela and Jeffrey Choney

Larry and Beth Greenberg

Robert and Pam Funari

The Lozick Family Foundation

The Rose Hills Foundation

The Lynch Foundation

Stephen Klar and Janice Gross

Martin and Akieva Jacobs

The Thomas Main Family Fund

Riordan Foundation

Walt and Carol Rosebrough

$100K–$249K Alison and Max Hall Anonymous Bill and Helen Hoffman

Sally Currier and Saul Pannell Samantha and Jack Woodruff Schultz Family Foundation We thank the many donors whose gift of less than $10,000 also helped to support our Scholars during the last year.

$25K–$49K Callum Henderson Charles W and Patricia S Bidwill Foundation

Mary Alice Fortin Foundation, Inc. Mericos Foundation Rhonda S Zinner Foundation Rick Hess Russell Stein Steven and Ellen Segal Tom Russell Charitable Foundation Wendy and Sean Cassity

$10K–$24,999K

David Dekker Edward Perron Esther B. Kahn Charitable Foundation Greg Nathan Harold and Stephanie Bronson Jeffrey Weiss and Chris Sorgi Joan Herman and Richard Rasiej Karen and Steven Sisselman Kari and James Van Gundy Kehl Family Fund Kenneth and Susan Abrams Life Science Cares Lovett-Woodsum Family Charitable Foundation Maria Rodriguez Michael Goldstein and Jennifer Rapaport Michael and Renee Slade Move the World Foundation Neil and Lisa Wallack Norman F. Sprague Jr. Foundation Paul Gaffney Peter and Rachel Dixon Roman Silberfeld

INDIVIDUAL, FAMILY, AND FOUNDATION DONORS

Individual, Family, and Foundation Donors

Roy and Jean Scharer Ruth and Bill Weinstein Ryan Kilstein Sandy Thoyer

Anonymous (2)

The Shapiro Foundation

Beth and Michael Stonebraker

Shashi Yadavalli

Bob and Amy Rands

Sheila and Jason Lawrence

Brad Lundy

Tim and Sandy Armour

17

MULTIYEAR DONORS

Multiyear Donors Thrive Scholars celebrates the generosity of the following donors who committed gifts at the following levels between September 1, 2022—August 31, 2023.

$5M OR MORE

$250K–$499K

Anonymous

The Davis Companies

Ceres Foundation

Robert and Pam Funari

$2.5M–$4.9M

The Lozick Family Foundation Schultz Family Foundation

Ballmer Group BMO

$100K–$249K

CEDAR Foundation

American Realty Advisors

The Eli and Edythe Broad Foundation

Beth and Michael Stonebraker

$1M–$2.49M

The Community Foundation for Northeast Florida

Anonymous Anonymous

Anonymous

David C. Miller Family Fund Callum Henderson

Deloitte Foundation

Dori and Bill Walton

James and Patricia London

Eric, Anne, Ryan and Kylie Harrison

Larry and Beth Greenberg

Erin and Matthew Murphy

$500K–$999K

FIS

Michael Ward and Jennifer Glock Foundation Norcross Foundation The PLAYERS Championship

$50K–$99K Bryan and Tara Meehan Chuck and Jessica Myers

The Rose Hills Foundation

The Edward and Ai O. Shay Family Foundation

RS&H

Jeffrey Weiss and Chris Sorgi

Russell Stein

Joan Herman and Richard Rasiej

The Shapiro Foundation

Karen and Steven Sisselman

VyStar Credit Union

Liberty Mutual Foundation, Inc.

The Lynch Foundation

Gary and Nancy Chartrand Advised Fund

Martin and Akieva Jacobs

Kiera and James Carlisle

Ruth and Bill Weinstein

Riordan Foundation

Lloyd G. Balfour Foundation, Bank of America, N.A., Trustee

Steven and Ellen Segal

Sally Currier and Saul Pannell Samantha and Jack Woodruff STERIS

Neil and Lisa Wallack

London Family Foundation Molly Shannon

We apologize for any omissions or misspellings in recognizing our generous supporters.

18

BOARD OF DIRECTORS

BOARD OF TRUSTEES

Our National Board of Directors is our governing board, guiding our strategic decision-making and ensuring our financial sustainability.

Our National Board of Trustees serve as long-term investors in our success and ambassadors for our vital work.

Martin Jacobs, Board Chair

Pat Kirby

Paul & Amy Blavin

Equity Portfolio Manager Capital Group

Executive Vice President & Chief Growth Officer The Institute for Nonprofit Practice

Bob Funari

Phillip Aubrey CEO & Founder Yunit

Tiffanie Boyd Senior Vice President & Chief People Officer McDonald’s USA, LLC

Brian Lenihan Business Department Co-Chair Choate, Hall, & Stewart

Sean Logan Dean of College Counseling Phillips Academy Andover

Vanessa Gonzalez Lopez

James London, MD

Consulting Analys Accenture

Orthopedic Surgeon

Callum Henderson

Patricia London

Portfolio Manager Fidelity Investments

Joan Herman President & CEO Herman and Associates LLC

Rick Hess Founder & Managing Partner Cobalt Capital

Evelyn Hou Analyst

David C. Hou Melvin D. Lindsey Cindy & Sheldon Stone Jeff Weiss Jack & Samantha Woodruff

NATIONAL BOARD & TRUSTEES

National Boards

Co-Founder, Thrive Scholars

Co-Founder, Thrive Scholars

Jessica Perez Advisory Partner Deloitte

Renita Smith Founder & President Principles Marketing, Inc.

Russell Stein Of Counsel Partridge Snow & Hahn LLP

19

BOSTON BOARD OF DIRECTORS

Dr. Adrian B. Mims

Talvis Love

Larry Greenberg, Board Chair

Founder/Executive Director The Calculus Project Inc.

Senior Vice President, Chief Information Officer Baxter International

Private Investor

Ihsan Speede

Olevia Mitchell

Théry Badin

Managing Director & Counsel Wellington Management

Technology Strategy Manager Accenture

Becky Vogel

Peter Opoku

Lead Project Manager Breakthrough Results, District Management Group

Director Tishman Speyer

MBA & MS Design Innovation (MMM) Candidate Kellogg School of Management, Northwestern University

Kwasi Dadzie-Yeboah Portfolio Manager Fidelity Investments

Peter Dixon

CHICAGO BOARD OF DIRECTORS

Chief Investment Officer, Partner, and Portfolio Manager Howland Capital Management

Craig Slack, Board Chair

Alison Eggers

Chief Investment Officer City of Chicago

Former Partner Seyfarth Shaw

Kevin Adkisson

Bob Giannino Ansin President & CEO United Way of Massachusetts Bay and Merrimack Valley

Michael Goldstein, MD, MBA President & Chief Medical Officer Aurion Biotech Physician-Ophthalmology, Co-Director Cornea Service Tufts University School of Medicine, New England Eye Center

Chief Revenue Officer

Jared Banner Assistant General Manager Chicago Cubs

Teedra Bernard Senior Vice President, Chief Talent and Diversity Officer TransUnion

Leo Harmon

Joy St. John

Senior Managing Director Chief Investment Officer Mesirow Equity Management

Director of Admissions Harvard College

Michael Henry

Sheila Lawrence

Senior Director of IT Senior Business Advisor UL Solutions

Partner Ballentine Partners LLC

Sedhu Krishnamurthy

Darryn J. Lee Head of Private Equity Channel Phreesia​

GM Data & AI, US Retail and Consumer Goods Microsoft

Danny Sharp Head of Alternatives, The Client Group Wellington Management Company

Michael B. Slade Partner Kirkland & Ellis LLP

CLEVELAND BOARD OF DIRECTORS

REGIONAL BOARDS OF DIRECTORS

Regional Boards

Shashi Yadavalli, Board Chair Principal, M&A Services Deloitte

Marzell Brown IoT Engineering and Academic Enablement Manager of the Global Academic Organization Rockwell Automation

Nicole F. Decker Senior Vice President, Global Growth and Development Fortune Brands Water Innovations

Kelly Ricker Chief Product Officer American Greetings

Walt Rosebrough CEO Emeritus STERIS

20

LOS ANGELES BOARD OF DIRECTORS

JACKSONVILLE BOARD OF DIRECTORS

NEW YORK BOARD OF DIRECTORS

Greg Nathan, Board Chair

Masai Minters

James London, MD, Board Chair

Geline Midouin, Board Chair

CEO Ajax Asset Management

Director, Academic Advancement Program UCLA

Orthopedic Surgeon Co-Founder, Thrive Scholars

Co-Executive Director, Chief Operations Officer Shearman & Sterling LLP

Emily Bellock

Edward Flanders

Carlton Burrell Vice President Pendulum Holdings

Dr. John Diaz

Davidson Pattiz COO Zenith Insurance

Plastic Surgeon

Michael Quick

Jared Goldstein

Provost Emeritus and Professor of Biological Sciences University of Southern California

Senior Vice President & Deputy General Counsel Zenith Insurance

Tate Rider

Lauro Gonzalez

Vice President DaVita Division

CEO (Retired) SATMEX

Maria C. Rodriguez

Chris Hart

Partner McDermott Will & Emery

UTA Partner and Co-Head of Motion Picture Talent UTA

Arlene Withers

Ryan Kilstein

Ashley Terrell Smithey

Analyst Southpoint Capital

Senior Director of New Ventures Copper

Itanza Lawrence Senior Program Manager Amazon Music

Brad Lundy

Certified Professional Coach

Director of Community Outreach The PLAYERS Championship

Managing Partner Pillsbury Winthrop Shaw Pittman LLP, NY Office

Patricia London

Meeka Kortmulder

David Sweeney, PE

Executive Administrator & Houlihan Black Alliance (HBA) ERG Founder and Chairperson Houlihan Lokey

President and Chief Executive Officer RS&H

Seth Robinson

Co-Founder, Thrive Scholars

Nina Waters

Executive Vice President & Head of US Public Sector Palantir

Retired President The Community Foundation for Northeast Florida

Cesar Ruiz

Floyd Willis, MD

GM of Education Microsoft

Medical Director Wilson Scholars Program

Tieisha Smith

Assistant Professor of Family Medicine Mayo Clinic

REGIONAL BOARDS OF DIRECTORS

Regional Boards

Head of Tech Partnerships, Acceleration & Culture Transformation TIAA

Sandy Thoyer Chief Operating Officer Infraclear

Sheveada Williams Marketing Manager & Black@Nespresso ERG Founder & Chairperson Nespresso USA

Portfolio Manager Butler Hall Capital

21

Revenue (GAAP)

Expenses

$30M $25M

$21.4M

$20M

$13.8M

$15M $10M $5M

$12.2M

Other Individual

22%

Operations $4,362,869

78%

Foundation

$6.6M

Program $15,722,216

Corporation

0

FY20

FY21

FY22

FY23

Revenue (includes multiyear gifts)

EXPENSES WITHIN PROGRAMS Summer Academy

$40M

$35.1M

$35M

41% 16%

Career 10%

Student Recruitment

$30M

Mentorship

9%

$25M

College Access

8%

$20M

College Success

7%

College Stipends

6%

$15M $10M

FY23 FINANCIALS

Financials

$9.8M

$11.9M

$12.2M

FY20

FY21

FY22

Alumni

3%

$5M 0

FY23

Audited Financials are available here.

22

WE STRIVE FOR A

CULTURE of BELONGING Our Commitment to Diversity, Equity, and Inclusion At Thrive Scholars, diversity, equity, inclusion, and belonging (DEIB) are deeply embedded in our culture and in our approach to the work with Scholars.

Reflecting our goal to diversify the corporate world, our comprehensive commitment to diversity, equity, inclusion, and belonging is evidenced in our key priorities:

• Enhancing the Scholar experience • Fostering a vibrant staff culture • Achieving organization-wide representation We continually assess Scholar experiences, evaluate staff culture, and stay on top of best practices, ensuring a dynamic and inclusive environment in accordance with our short and long-term DEIB strategy.