YEAR WITH HOPE
ANNUAL REPORT 2022 FIRST
Fellow Chicagoans,
Work hard. Go to college. Don’t give up. Those are the keys to success we’ve told our children for generations. This narrative reinforces higher education as the great equalizer in society, providing young people a path to the mountaintop, regardless of their background.
Increasingly, reality has exposed this narrative to be a myth. Postsecondary education, including vocational training, is still—perhaps more than ever—key to success and financial security, but it is inaccessible and insurmountable for too many. In fact, the path to the mountaintop is a complex and costly gauntlet that must be run, where 9 in 10 low-income, first-generation students leave without a degree and with debt they will struggle to pay off. Moreover, poverty is a multigenerational challenge, and efforts to solve it with a single generation of students is inadequate on its face. No more.
Hope Chicago is here to show what investing at scale in people—in multiple generations, in families, in whole communities—can do for a world class city like Chicago.
So many partners, colleagues, employers, and neighbors have joined us in this effort already, and we are heartened and encouraged by their generosity and fierce civic pride. But to build the future we see for Chicago —one that is more prosperous and more equitable—we will need more, many more, to throw in with us. A more hopeful Chicago is only attainable if we build it together.
With Hope,
Pete Kadens Ted Koenig
Pete Kadens Co-founder Ted Koenig Co-founder
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2
Dear Friends,
Education is the best strategy for helping people escape poverty and build a better future. That was true in my own life, is borne out in research, and has been the core belief behind my life’s work in the education field. When I stepped down as CEO of Chicago Public Schools last year, I sought an opportunity that doubled-down on that belief, and Hope Chicago was just the place I was looking for.
Like many college access or scholarship organizations, Hope Chicago’s mission includes expanding access and equity in higher education. But the broader beliefs underpinning Hope Chicago’s approach are what differentiates us, and will make us more impactful.
Belief 1: All students, regardless of GPA, deserve postsecondary opportunities, not just those at the top of the high school academic spectrum.
Belief 2: Two-generations—parents and students—within the same family pursuing a degree or certificate makes it more likely that both will complete their program, and amplifies the positive impact on the whole family.
Belief 3: College and vocational programs are both viable pathways to financial stability if students’ choices are not constrained and skewed by the cost of attending.
Belief 4: Students need more than a contribution to start postsecondary education, they need a promise to support them through completion
Belief 5: Graduating debt-free makes it far more possible to build wealth for oneself and one’s family.
We have accomplished so much in our first year, as this report outlines. None of it would be possible without Hope Chicago’s co-founders, Pete Kadens and Ted Koenig, our entire Board of Directors, and the generosity and support of so many from across the nation. I am honored to lead this important work. We are just getting started!
With Hope, Janice K. Jackson
Dr. Janice K. Jackson, EdD. CEO, Hope Chicago
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TO OUR FOUNDING
Glen Tullman Family Foundation
Ted & Nancy KOENIG
Cari & Michael J. SACKS
OUR CHALLENGE
The communities with the least access to postsecondary education face the greatest hardship, economic vulnerability, and violence.
Communities with the lowest concentration of bachelor’s degrees appear in dark red.
Source: Census
American
Communities with the greatest hardships appear in dark red.
Source: 2017 UIC Hardship
POSTSECONDARY EDUCATION CHANGES THE TRAJECTORY OF LIVES AND COMMUNITIES
BUT MANY DON’T HAVE ACCESS TO GET STARTED… …AND EVEN FEWER EVER FINISH.
5 in 10 high school freshmen on the South and West sides will enroll in postsecondary education.
Just 2 of those 5 will finish a postsecondary program.
Source: To&Through Online Tool,
made based
LOCALLY AND NATIONALLY, FIRST-GEN AND LOW-INCOME STUDENTS PAY TOO HIGH A PRICE FOR POSTSECONDARY EDUCATION, EVEN AFTER THEY GRADUATE.
Portion of Black college graduates who, four years after graduation, owe more than they initially borrowed.
Portion of college dropouts who default on their loans within 12 years.
EVERY MAP OF CHICAGO TELLS THE SAME STORY.
50%
Index data
and
Community Survey data, via Statistical Atlas 40% Source: Scott-Clayton and Li (2016), Brookings Institution Report Source: Miller (2019), Center for American Progress
estimates
on regional data THANK YOU
PARTNERS
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THANK YOU TO OUR FOUNDING PARTNERS HOPE CHICAGO TWO-GENERATION PROGRAM MODEL
Brian & Coleen GELBER
The Husband & Wife Duo / Owners of Mielle Organics
MELVIN & MONIQUE RODRIGUEZ
WHOLE SCHOOL PROMISES
Identify schools where increased postsecondary access and support can have the greatest impact
Promise debtfree pathway to postsecondary education for all students, regardless of GPA
Augment high school capacity with additional advising staff and funding for new or expanded partnerships
STRATEGY ACTION IMPACT
TWO-GENERATION INVESTMENTS Offer debt-free scholarships for students and a parent, covering tuition, fees, and books. Student scholars also receive room and board
Develop community and support networks scholars can lean on when needed
Address practical needs of scholars with laptops, stipends, and access to emergency funds
PARTNERSHIPS WITH RESULTS
Build higher education partnerships based on mutual accountability Connect scholars to best-in-class postsecondary support and career counseling
Prepare scholars for careers via internships, mentoring, and/or work-related training
EXECUTION AT SCALE Improve postsecondary enrollment, preparedness, and retention
Higher completion rates for degree and certificate programs
More debt-free postsecondary graduates ready for meaningful careers Increase household earnings and financial stability for South and West side communities
BUILD BELIEF ENABLE CHOICE CONNECT TO OPPORTUNITY TRANSFORM CHICAGO
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POSTSECONDARY
5 4,000 SCHOOLS STUDENTS 2.2% OTHER45.5% BLACK 52.3% HISPANIC 10 435 PARENTS WANT TO PURSUE 23 PARTNER INSTITUTIONS 56% INTERESTED IN 4-YEAR DEGREES 44% INTERESTED IN 2-YEAR OR VOCATIONAL PROGRAMS
EDUCATION Launch of Hope Chicago’s transformative multigenerational program; Janice K. Jackson, EdD announced as CEO Announce inaugural group of Hope Chicago partner high schools Launch higher education partnerships; celebrate Decision Day at all 5 partner high schools Begin partnership with CPS high school leadership teams FIRST YEAR WITH HOPE 11 SEP 2021 DEC 2021 FEB 2022 MAR 2022 MAY 2022 Merge with the Chicago Scholarship Fund created by Monroe Capital, and take over ongoing support of 13 Collegiate Scholars already enrolled at Chicago State University and City Colleges of Chicago OCT 2021 Start direct student engagement; conduct parent interest survey Demographics
$4.1M 2.0-2.4 IN ADDITIONAL AID AND DISCOUNTS FROM PARTNER COLLEGES AND UNIVERSITIES 30% INCREASE IN POSTSECONDARY ENROLLMENT IN 2022 40% 17% 57% 74% 43% 2.5-2.9 3.0-3.4 INCREASES WERE PARTICULARLY LARGE FOR STUDENTS IN THE ACADEMIC MIDDLE 67% 54% 79% 61% 84% 11% 63% First cohort of Hope Scholars graduate from high school Host 1st annual GoalGetters Conference at Wintrust Arena sponsored by the Jerrold Ruskin Foundation First cohort of 670 Hope Scholars start their postsecondary journey. Historical Avg* (2018 - 2021) Class of 2022 1312 FIRST YEAR WITH HOPE JUN 2022 JUL 2022 • 700+ Scholar participants; 100+ parent participants • Scholar workshops on the Hope Chicago Identity, financial literacy, navigating the first year of college, and building a personal brand —presented by Accenture, CPS Office of School Counseling and Postsecondary Advising, C.A.R.E., and Hope Chicago staff • All 23 college and university partners represented; dorm room care packages provided by Betsy’s Blankets and Mielle Organics AUG 2022 Postsecondary enrollment from 5 Hope Chicago partner high schools 2-year and/or Vocational 4-year Enrollment, by high school GPA Past data estimated from To&Through Online Tool and based upon National Student Clearinghouse reporting. Data for the Class of 2022 collected and compiled by Hope Chicago. * Historical Hope Chicago
OUR PARTNERS
We cannot transform Chicago alone—nor do we want to! In our first year we have built bold, creative partnerships that meet the needs and demands of our Scholars and provide them with the world-class opportunities and necessary support to excel in their choice of a postsecondary pathway and beyond.
Corporate Partners Programmatic Partners
WHAT’S NEXT?
Postsecondary Partners
If Hope Chicago’s first year was about launching our program and making an immediate impact, our next year is all about growth:
Launch the Parent Scholars program. Providing choice and opportunity to parents to pursue their own postsecondary or career-focused path alongside their child.
Expand our network of Hope Chicago supporters. Growing our community of funders, volunteers, and champions to enable us to bring on new cohorts of partner high schools and continue toward our goal of 30,000 scholarships over 10 years.
Formalize more partnerships to support Scholars. Developing deep relationships with nonprofit organizations doing meaningful work preparing students and parents in high school, postsecondary institutions, and workforce preparation.
Develop a formal Internship Program for Hope Scholars. Engaging students in career exploration, skill-building, and workreadiness throughout the year.
Build an advocacy plan and agenda. Amplifying our impact by working collaboratively with partners in the postsecondary and workforce development to drive policy and funding changes that benefit the whole ecosystem.
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Photo copyright Southern Illinois University Carbondale.
THANK YOU TO OUR 500+ DONORS!
(as of June 30, 2022)
$1M and above
Anonymous
BMO Harris Bank
Brian & Coleen Gelber
Health Care Service Corporation
Kadens Family Foundation
Ted & Nancy Koenig
Monroe Capital
Melvin & Monique Rodriguez
Cari & Michael J. Sacks
Glen Tullman Family Foundation
Walgreens Assistance (WAI)
Wintrust Financial
$100K to $1M
Anonymous
Charles C. Cahn Jr.
Mr. Shawn T. & Jennifer Carolan
The Crown Family
Kent & Liz Dauten, Keystone Capital Louis Dodd
Finnegan Family Foundation
Ravin Gandhi
The Gastevich Family
Sonny & Ronika Goyal
The Huss Family
The Johnson Family
Diane & Steve Miller
Polsky Foundation
Protiviti
Valerie & Lee Shapiro
Vivo Foundation
$10K to $100K
Anonymous
Ariel Investments
John & Bonnie Atkinson and Marsh
Stuart L. & Amy Bernstein
The Cass Family Charitable Fund Chicago for Rahm Emmanuel Chicago Trading Company
CIBC Bank USA
Frank M. & Dr. Vera Clark
CME Group Foundation
Mr. Carey & Dr. Cheryl Cooper
Dan & Maureen Dominguez Gordon DuGan
Allan & Denise Edelson Family Foundation
Austan & Robin Goolsbee and The Lumina Foundation
Grossinger Foundation
Julie & Patrick Hoffmann
Janice K. Jackson
Jerath Family Foundation
Jerrold Ruskin Foundation
Constance Ranae Jones
Katten
Mark & Jayme Kaufmann
Mark Kramer
Chip & Marnie McCall
James & Dorri McWhorter
Robert Nathan Philanthropic Fund
Northern Trust
Denis & Martha Pierce
Eric A. Reeves
The Reiner Family
Jonathan Reinsdorf
Larry D. Richman
Lee “Rosy” Rosenberg
Tiger 21 LLC
Timber Hill Group LLC
Jill & Jay Twery
Up to $10K
Anonymous
Marvin Aal Amy Aaron Sarah M. Abrams Cris K. Adair Rick & Katy Adler
Jeffrey Allen Jean M. Alletag Jill Alvarado Samantha Amburgey Leslie J. Anderson
Pamela Sherrod Anderson Susan André Jarrett Annenberg Antares Capital LP Judith Ashton John Bailey
David & Betsy Baker Stephen Ballen Michael Baniak Cynthia Barron Johanna Bartlett Rich Bassin
Jessica Bee
Gerald & Gerald Beechum Andrea Behringer Madalin Behrman
John P. Benjamin
D. Theodore Berghorst Max & Max Bernstein Hans R. Bertschi Susan Beshel Cheryl Bew Brianne Bharkhda Ehsan Biswas
The Boeing Company Barb Booth Audra Bowie Susan E. Brandehoff Jas Brashares John C. Bravman Elaine Breiner Lia Brilando Ebba Gebisa & Euler Bropleh M. Diane Brown Michael Brown
Nancy Brown
Jason R. Brumm
Eileen Buckley
Ken & Heide Buckman
Cynthia M. Bunch
Kathleen R. Burgess Daniel Burseth
Joe Caltabiano
Patrick J. Canning
Jillian & Ryan Carey
Carter Family Fund
Christopher S. Channer
Richard G. Clemons
Robert Clough Roland Conwell Erin Court
Lisa Coyne
Paula Curtin Kathleen Czech Mircea Damian Sim Dawson Laurie Demetrio
Michael Croxell & Kerry Dexter Thad DiGiuro
Amanda R. Doblin Denise Duffy Julia Eckersley
Your Friends at Edelman Amy E. Engel Sandra Ercolano
The Eucalyptus Foundation Terri Evans
Robert G. Federighi
Victor & Annette Feldman Ferber Family Charitable Fund Robert Fitzpatrick Amy Francetic Ronda Franks Scott Freberg
Laura Frerichs Aaron Friedman Tammy Galloway
Aram Garbooshian Sabrina Gates
Aaron Gelb
Gregory Getz Emily Gibiec
Give Back Realty Bruce & Susan Glick Jeni Goldman Sandra Gorney
Mark & Maggie Graham Foundation Graycor Industrial Constructors Inc. Lillie Grisko Wendy Guerrero Martin A. Halacy Peleg Halpern Deborah Hardaway Elaine Hardeman Bridgett Harig Kathy Harris Daniel Hartman
Chris Healy
Ina M. Heffner
Everett J. Henderson
Mary Patricia Hendrickson Patty Henrichs
Laura Henry
Lakesha Wilson Hill
Jeffery Hobohm
Candice Hodges
Susan Hojnacki-Lowe Wendell Holder
Denise Hoos
Paul Horner
Richard & Susan Hornik Robert Horstman Angela Howard Greta Huizenga Jocelyn Hurley DeVerille Huston Ty Hyderally Esq. Peter Inman Thomas Isaacson
Rev. John C. & Charity Jones Malik Jones Robert Jordan Monica Jun Carol Kaczmarski Michael & Judith Kadens Beth Kane Nambi E. Kelley Z. Kelly Christina Kesselring Eugene Kiley Brian M. Kilmeade Andras Kirschner Julie & Daniel Klaff Courtney & Ari Klein Robert & Mary Korajczyk Thomas & Susan Kuczmarski Mary Jane Kupsky Nathan Lagacy Elizabeth Laichas
Cynthia Lamping
Carol-Ann G. Lansdale David Lauro Audrey Leake Holly J. Lebed Denise Lee Cassandra Lems Jeff Lewis Brian Ligon Andrew Lindblom John and Hilary Lindsay Daphne Lohman Paul D. Lohmeyer Jonathan Lyon Matt Lyons
Mainstay Engineering Group, Inc. Jennifer Mallamud Michael & Nanci Markowitz Ira & Janina Marks Charitable Trust Eric T. Martz
Ann Masur
Gregory Maxwell
Konora Maxwell
Theresa Haddad Maynard McCafferty Family Charitable Fund
McClain Family
Todd McDevitt
Andrew W. McDonald
Erin McLawhorn Amy Milazzo Mitchell Miller
Dori Ann Mitzi Heather Mobley
Robert S. Rivkin & Cindy S. Moelis
Erin & Elliot Molk Tyler Mongerson
Lorena Mora-Martinez Frederick & Janet Nachman Mary Najarian Arnold & Irene Newman Peggy Nicholson Patrick O’Connor Kelsey O’Dair Paula M. O’Reilly
Schibner & Kimberly Ochsenschiager Christine Olson Linda Olson
Tina Onderbeke
Alejandra Sanchez Orozco Michael Ostroff
Christopher & Lynne Peckham Kelly Pelot
Ted Perlstein
Kirsten Perry John Edward Petrik Mary Poehlein
Townsend Porter Catherine Pratt
Sheila Prendergast Kathryn Price Sladjana Radivojevic Jory Rand Kathy Rand
Abby Reimer
The Retirement Research Foundation Brian Rice Ramie Robbins Real Estate Terry L. Robbins Napoleon Robinson Randy & Betsy Rochman
Darin Rodrigues
Nik Rokop
Rob & Randee Romanoff Daniel Rooker
Joel Rosenbacher Eric Rozzell
Tammy Rucker Hannah Ryan Melanie Sadur
Jean Saelens
John Saitta Holly Sawyer
Tyler Vander Schaaf
James D. Scheck
Rhonda Schiefelbusch
John & Kathleen Schreiber Barbara Schwab
Alexys Schwartz Deborah Seriki Gregory Servatius Shabelman Family Susan Shevelenko Mark Silver
Silverman Family Charitable Fund Kristin Simcox Jennifer Slivka
Freddye Smith Christine Soland Sarah Sparks Donna G. Spearman Katie Panning Spieth Lisa Spindler Eva Stamos Deborah & Steven Stefani Allison Stefanides Adam Stein Daniel Steinlauf Joshua Swanson Roberta Sweet Swiss Crown LLC Regan Tankersley Kimberly Tews Mark Theoharous
Mr. & Mrs. William D. Thompson Jr. Joe Shenton & Marie Tillman Philip Tondelli Kamala Torres Andy Makielski & Elaine Toutant Matt & Reece Trebon Donald Trella
Minh-Ha Trieu Neema Varghese Gary Vaughn Kristin Violante Ivy Walker
David Weinstein
Samuel Weinstein Family Foundation Stephen Weir Vicki Wenham James Whalen Marianne K. Whitting Collin Williams Arden Williams David Wilson Holly Woods Erin Wyatt John H. Yaney Lisa Young Julie Youngquist Diane H. Zendejas Jeffrey M. Zucker
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THE BOARD OF DIRECTORS
Pete Kadens, Co-Founder, Co-Chair
Ted Koenig, Co-Founder, Co-Chair
Constance Jones, Vice Chair
Laura Appenzeller
Eileen Buckley Tony Chimino
Aaron Friedman
Adolfo Hernandez Julie Hoffmann
Lynn Jerath
Joyce Johnson-Miller Chancellor Robert Jones
Rev. John Jones Scott Kapp Dorri McWhorter Wes Moore
The Kadens Family Foundation
Monroe Capital Noble Schools
University of Illinois Research Park Stryker
MarshMcLennan Agency
Walgreens Boots Alliance
Pritzker Community Health Initiative
JH Philanthropy
Citrine Investment Group
Hope Chicago invested
last year
programmatic, development, and operational capacity
support a rapidly growing program and deliver with excellence. As
our
year
programmatic expenses
Julian Posada Jonathan Reinsdorf Eric A. Reeves
Melvin Rodriguez
Lee “Rosy” Rosenberg Von Washington
EXECUTIVE LEADERSHIP ADVISORY BOARD
David R. Casper
Arne Duncan Richard Edelman Andy Gloor Scott Goodman
Pete Kadens
Ted Koenig
Steve Pemberton
James “Jim” Reynolds Larry Richman Tom Ricketts Eric M. Smith Ed Wehmer
Monique Rodriguez
Pacific Gate Capital University of Illinois HOPE Toledo DLA Piper YMCA of Metropolitan Chicago Robin Hood Foundation LiftUp Enterprises FroogalPay Duchossois Capital Management Mielle Organics
Rosenberg Advisory Kalamazoo Promise
BMO Harris Financial Group
CRED Chicago Edelman
Sterling Bay Farpoint Development
The Kadens Family Foundation
Monroe Capital Workhuman Loop Capital
The Chicago Club; Northwestern Hospital Board of Trustees
InspereX; Chicago Cubs
BMO Harris Bank Wintrust Financial Mielle Organics
$3M
in the
to
we look to the current year—
first
of programmatic spending—we estimate the following
for FY23: $6.1M $2.8M $1.7M Scholarship Awards to Scholars Stipends & Other Support to Scholars Educational and Vocational Support for Parent Scholars 1918
HELP US GIVE MORE HOPE IN YEAR 2! HopeChicagoEdu @HopeChicagoEdu HopeChicagoEdu LinkedIn.com/company/hope-chicago 303 East Wacker Drive, Suite 2109 Chicago, IL 60601 info@hopechicago.org (312) 477-3174 HopeChicago.org
