Impact Report
Letter from Our CEO
Dear Friends,
This year, the board economy mirrored the global economy — with headwinds from economic volatility, government funding disruptions, and political instability. Despite this, illumyn Impact continues to navigate toward opportunity. We do this by meeting firms where they are, adapting to investment patterns and market momentum while continuing to expand the reach of our network.
Of the nearly 9,000 leaders in our board talent network, the vast majority are referred by CEOs, board members, and investors who recognize the value of trusted introductions. This referral-driven growth reflects both confidence in our work and the ongoing demand for exceptional board talent. We also advance critical efforts at the intersection of boards and AI. Our study with the California Partners Project and Crunchbase highlighted the ongoing gap in representation on AI company boards. In parallel, insights gathered at our Roundtables underscored a
broader truth: as AI reshapes every industry, boards across all sectors will need directors fluent in its opportunities, risks and implications.
We illuminate multiple pathways to the boardroom that connect trusted introductions to board seats, advisory roles, and thought-leadership opportunities.
These pathways illustrate how access and alignment open doors for leaders and companies alike, fueling impact across the board economy.
Each introduction, board and advisor placement, and curated event underscores the resilience of our model and the strength of our relationships. As we look ahead, illumyn Impact will continue to ensure that capable, forward-thinking leaders are shaping the decisions that define the next chapter of growth.
Onward!
Jocelyn Mangan Founder & CEO, illumyn Impact & illumyn
Jocelyn Mangan Founder & CEO, illumyn Impact & illumyn
Letter from Our Board Chair
Dear Friends and Partners,
illumyn Impact exists to diversify the board ecosystem — ensuring that private-company boards benefit from a broad range of perspectives, lived experience, and thoughtful leadership. That mission has never been more urgent.
Our recent study with the California Partners Project and Crunchbase — Who Is Governing AI Companies? — found that nearly half of California’s AI startups have all-male boards. In an era when AI systems shape our economy, politics, and daily lives, this lack of diverse oversight isn’t just an equity issue — it’s a risk issue.
AI is rewriting the rules of business and society. The question is: Who is writing the rules for AI?
illumyn Impact was founded to address this imbalance. We connect exceptional, undernetworked leaders with board opportunities where their expertise and perspectives are most needed — particularly in
fast-moving industries like AI, climate tech, and healthcare innovation.
This moment calls for decisive action. We’re expanding our network of board-qualified leaders, deepening partnerships with forward-thinking investors and companies, and building the data and visibility tools to drive lasting change.
To advance this work, we invite your partnership: support our mission, nominate board-qualified leaders, and collaborate with us on data-driven insights and impact initiatives.
AI will define the next decade of progress. Together, we can ensure it’s governed by the full diversity of human intelligence — not just a narrow slice of it.
With gratitude and resolve,
Joanna Rees
Board Chair, illumyn Impact & illumyn
Joanna Rees
Board Chair, illumyn Impact & illumyn
Our Team
Jocelyn Mangan Founder & CEO
Fiona Tang Co-Founder & COO
Cookie Veconi Chief of Staff
Louise Trezzo Senior Director, Partnerships
Ruth Dewa Ayu Director, Events
Hang Nguyen Program & Events Associate
Ann Shepherd Co-Founder
Crista Bailey Chief Business Development Officer
Rebecca McIntire Head of Board Introductions
Ximena Vivanco Director, Programs
Suzanne Soares CBDO, illumyn
Board of Directors
Joanna Rees illumyn Impact & illumyn, Board Chair West, FICO
Mike Xenakis Joy 101
Dara Khosrowshahi Uber
Navin Chaddha Mayfield Francisco AlvarezDemalde Riverwood Capital
Advisors
Isaac Applbaum MizMaa Ventures
Danielle Applestone Applestone Consulting
Shannon Brayton Bessemer Venture Partners, Quizlet, KQED
Sheila Lirio Marcelo Ohai.ai
Alessandra Simons Freshfields
Lisa Skeete Tatum Landit
Stacy Brown-Philpot Cherryrock Capital, HP, StockX, Coactive
Jeff Weiner LinkedIn, Next Play Ventures
Brad Feld Foundry, Techstars
Reid Hoffman Greylock, Microsoft
Philip Chow Humanitas AI
Scott D. Miller G100
Our Vision
illumyn Impact, together with our public benefit corporation illumyn, diversifies the board ecosystem and shapes the future of innovation.
The boardroom serves as a catalyst for transformative societal and economic progress, and illumyn Impact connects the people and ideas that make those transformations possible — one board seat at a time.
Over the last seven years, we’ve facilitated more than 86,000 warm connections to bring new perspectives into the closed board ecosystem.
We’ve:
• collaborated on over 3,000 board ecosystem opportunities,
• hosted over 275 events,
• facilitated 190+ women serving on boards and advisor roles directly from our work,
• demystified the board journey for 150+ illumyn Boardroom Excellence Fellows.
Those Who Govern AI Shape the Future
illumyn Impact recently completed a study in collaboration with Crunchbase and California Partners Project which revealed a significant lack of gender diversity in the governance of AI startups. Our research included more than 140 companies and analyzed the boards of 102 privately held AI companies based in California with at least $50 million in cumulative funding. It revealed women make up only 15% of these boards. More than 40% lack any female directors. illumyn Impact + California Partners Project + Crunchbase
Women hold just 15% of private AI board seats; 43% of boards are all male
Average number of women per private California-based AI board
Read our study
Our Moonshot AI Initiative
While governments will eventually play a role, right now AI’s direction is being shaped in boardrooms. Too few of those boards include leaders with AI expertise — or reflect the diversity of the people this technology will impact for generations to come.
We’re
OUR IMPACT
closing both gaps — connecting 140+ AI companies with independent directors and providing 800+ AI executives visibility across boards shaping the future.
The Path to the Boardroom is Built on Trust
At illumyn Impact, we believe boardrooms — and the ecosystems around them — thrive when new voices are heard and trusted in places where they can lead.
We’ve designed six high-impact pathways that serve both board-qualified talent and the firms and companies seeking experienced, futurefacing leaders.
These connection strategies shift how boardrooms are built.
Roundtables
Board
Advisory Roles
Director Roles Speaking Engagements
Strategic Introductions
PeerNominated Business Leaders
Make meaningful connections that develop into board leadership
“illumyn Impact brought us inspiring connections and meaningful conversations that perfectly aligned with Aloqia’s mission.
We’re thrilled to have Kathy Leake join our board and to keep building on the ideas this partnership sparked.”
— Stephanie Benedetto, CEO, Aloqia
Exclusive Event Access
Investors, Board Members & CEOs
Discover undernetworked, boardqualified leaders
The Ripple Effect of Our Introductions
We connect board-qualified executives with CEOs, investors, and board directors seeking relevant industry insight and fresh perspectives.
Conversations often start with curiosity — exploring a new market, audience, or challenge — and evolve into enduring partnerships: due diligence support, operating partnerships, as well as board and advisory roles.
It’s how we seed long-term collaboration across the board ecosystem — well before a formal role is even on the table.
Breanna Zwart Senior Director Business Development, Microsoft illumyn Fellow - Cohort 4
“As an illumyn Fellow, access came with context, and that made every introduction catalytic. The result was real momentum — from board opportunities to strategic collaborations — with ripple effects still compounding.”
30+ introductions to investors, CEOs and board directors
We’ve facilitated over 86,000 warm connections to bring women and undernetworked leaders into the closed board ecosystem.
From Introductions to Board Directors & Advisors
When Climate Pledge Fund connected us with portfolio company Hippo Harvest to explore independent and advisory needs, we partnered closely with founder Eitan Marder-Eppstein to define three high-impact profiles for their next phase of growth. Through a focused introduction process, we connected Eitan with multiple strategic industry leaders who quickly became trusted advisors and continue to guide the company — including Anna Fabrega, who has since joined the board.
190+
Board and Advisor appointments to date
“ illumyn Impact delivered exceptional connections that have transformed our business. They introduced us to a board member who has been hugely impactful, along with knowledgeable industry contacts and other high-value relationships that continue to provide tremendous value.”
Anna Fabrega, Former CEO, Local Bounti; Board Director, American Public Education
— Eitan MarderEppstein, Founder, Hippo Harvest
Signature Roundtable Events
We host off-the-record, highly curated conversations that bring together CEOs, directors, investors, and board-qualified leaders. These gatherings are intimate, high-trust discussions on board leadership, governance, and emerging topics like AI — fostering vulnerability, shared learning, and relationships that lead to strategic collaboration and board leadership.
“ Creating space for authentic, high-impact conversations is an art — and this is where our partnership with illumyn Impact shines. Through these intimate, curated dinners, we unite leaders from across the ecosystem to share, connect, and inspire one another. Each guest leaves not just with new ideas, but with relationships that spark meaningful, lasting change.”
— Sandra Schwarzer, VP, Talent, Index Ventures
192
total roundtables convened
New Roundtable Hosts for 2025
Anna Jones CEO, The Telegraph Media Group; Board Director, Brighton & Hove Albion Football Club, Mercuri
Peng Zhao CEO, Citadel Securities
Dawn Marriott Chair, Hg, Geomatikk, team.blue; Board Director, Azets, Citation, JTC Group
Carla Vernón CEO, The Honest Company
Kimberly Blackwell Founder & CEO, PMM Agency
Ken Ohashi CEO, Brooks Brothers; Board Director
Marla Blow CEO, Skoll Foundation; Board Director, Etsy, Square Financial Services
Susan Hooper Co-Founder, Chapter Zero; Board Director, Uber UK, Moonpig
Francisco AlvarezDemalde Co-Founder & Managing Partner, Riverwood Capital
Anish Melwani Chair & CEO, LVMH
Sean Mendy Founding Partner, Westbound Equity Partners
Vicky Moffatt CEO, Chapter Zero
Michael Labriola Partner, Wilson Sonsini
Karen McClellan Lecturer, Stanford Graduate School of Business
See all hosts
Influential Event Access and Presence
We invite high-impact executives from our network to attend and speak at partner-hosted events — bringing diverse perspectives, lived expertise, and board-qualified presence into rooms where decisions are made. For our partners, this presence sparks new connections, deepens conversations, and accelerates innovation across portfolio companies and investment networks.
“I’m
smiling as I write this, all of these doors opened because of the community you have built. I’m grateful for everything you do to champion leaders like me.”
— Melinda Davenport
, Board Director, Boston Common Golf; VP, Equinix illumyn Fellow - Cohort 4
Jocelyn Mangan, Mike Frandsen and Susan Chapman-Hughes, Generation Investment Management’s System Positive Summit, 2025
Partnerships that Amplify Across Networks
“Thank you for hosting such an incredible Summit last week. I am so happy I could join the event. The conversations resonated so strongly especially around board readiness, trust, and alignment. I came back truly supercharged.”
— Deepika Chopra, CEO, AlphaU AI
Our first two summits to redefine what board leadership looks like were co-hosted in partnership with J.P. Morgan. We brought together our network of leaders, investors, sitting board directors, as well as Fellows from our public benefit corporation, illumyn.
Through bold conversations our speakers and panelists authentically shared their experiences on the path to the boardroom, AI governance, and established valuable new connections. Each event culminated in powerful networking receptions that sparked action – driving pathways for new leaders into the board ecosystem.
Jing Ulrich, Vice Chairman, Investment Banking, J.P. Morgan; Paul Judge, Chairman & Managing Partner, Open Opportunity Fund
Demystifying the Boardroom
Our impact extends beyond introductions.
Through The Boardroom View newsletter and our signature programs, we demystify the board landscape and equip leaders — and the firms that seek them — with the insight to understand, access, and thrive in the boardroom.
Together, these efforts expand access, deepen understanding, and accelerate change across the board ecosystem.
Programming includes demystifying the boardroom, qualities of MVP board members, as well as emerging AI governance and the AI landscape.
“ illumyn Impact has been fantastic for us. It’s not about checking the box to fill a certain board role. The illumyn Impact process fosters getting to know a candidate both professionally and personally, which really highlights the value an individual can add.”
— Joe Osnoss, Managing Partner, Silver Lake
GOLD ALLIANCE PARTNERS
SILVER ALLIANCE PARTNERS
“illumyn Impact facilitated introductions to Fortune 500 CHRO talent & to healthcare operators for recent and separate events — all adding valued perspective at these intimate, important gatherings for our portfolio.”
— Anthony Woolf, Partner, Generation Investment Management
Investor Partnerships
COLLABORATORS
BOARD QUALIFIED TALENT
RACIAL AND ETHNIC DIVERSITY OF
illumyn, our public benefit corporation, elevates undernetworked executives into the boardroom through a flagship program, the Boardroom Excellence Fellowship, unlocking board visibility, opportunity, and access for top corporate leaders.
150+ Boardroom Excellence Fellows across world-leading corporations including the following:
Sheila Lirio Marcelo, CEO & Founder, Ohai.ai; Brian Moynihan, CEO, Bank of America; Our CEO & Founder, Jocelyn Mangan
Our Finances
This year’s financials reflect both resilience and discipline. We maintained steady personnel costs and proactively reduced expenses by 22% to safeguard organizational stability. By deepening engagement across investor partnerships, corporate sponsorships and sharpening operational discipline, illumyn Impact is working across philanthropic challenges to sustain our mission and impact responsibly.
Our aim is to head into 2026 with funding that fuels our AI initiative, integrates AI within our operations, and creates a foundation for impact.
October 2024 - September 2025
2023 Ending Cash: $1,794,570
Revenue: $2,670,915
49% Donations 29% Earned Income: Partnerships 8% Earned Income: Referrals
Expenses: $2,947,560
Other 66% Personnel
34% Other programmatic and operational expenses
Grateful to Our Supporters
Founding Funders Circle
GIFTS OF $500,000+
Dara Khosrowshahi
GIFTS OF $250,000+
The Reid Hoffman Foundation
GIFTS OF $100,000+
Breyer Family Foundation
Anchor Point Foundation -
Brad Feld & Amy Batchelor
GIFTS OF $20,000+
Anonymous
Brayton Family Charitable Fund
GIFTS OF $10,000+
Anonymous
Anne Devereux-Mills
Jes Wolfe
GIFTS OF $5,000+
Anonymous
Yumi Hosaka Clark & John Clark
The Xenakis Family
GIFTS OF $2,000+
Anonymous
Anonymous
Anonymous
Maria Davlantes
KFF via Trustee Sue Siegel
Rashida Hodge
Barry Lawson Williams
Alessandra Love
Audrey & Danny Meyer
RobyDodd Family Charitable Foundation, Inc.
Travel + Leisure via Denny Marie Post
Women for Economic and Leadership
Development via Melinda Davenport
Jen Zhu Scott
GIFTS OF $1,000+
Anonymous
Alvarez Demalde Werthein Foundation
Asmau Ahmed
Daniel Chait
Sarah Grover
Justin Jacobs
Olivia Kirtley
Camellia Koleyni
Lazar Family Foundation
Hideto Nishitani
Scott D. Miller
Vanessa Pegueros
Laura Peterson
Amy Rice
The Sands Family
Danny Shader
Tracey Strauss
Gail Tifford
Teresa Torres
Corporate
J.P. Morgan
Silicon Valley Bank
Artyc
Ashby Workshops | Fathom
BioLife Solutions
BTS Bioenergy
Confidante | Gallagher
Cooley
Debevoise & Plimpton
Egon Zehnder
Evercommerce
Goodwin Law
Hippo Harvest
Huddle Up
Kueski
Moontower Group
Mysten Labs
Natural Gas Services Group
Riviera Partners
Shift4 Payments
TradeCafe
Together we’re building better boards, better companies, and a better future.
Your partnership fuels this mission — every contribution expands what’s possible.
Donate Now