Hope Chicago Annual Report 2022

REPORT 2022 FIRST YEAR WITH HOPE

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

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 is what differentiates us, and can 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

THANK YOU TO OUR FOUNDING PARTNERS

Glen Tullman

Family Foundation

Ted & Nancy KOENIG

Cari & Michael J. SACKS

OUR CHALLENGE

EVERY MAP OF CHICAGO TELLS THE SAME STORY.

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 and American Community Survey data, via Statistical Atlas

Communities with the greatest hardships appear in dark red.

Source: 2017 UIC Hardship Index data

POSTSECONDARY EDUCATION CHANGES THE TRAJECTORY OF LIVES AND COMMUNITIES

5 in 10 high school freshmen on the South and West sides will go on to enroll in postsecondary education.

Just 2 of those 5 will finish a postsecondary program.

Source: To&Through Online Tool, estimates made based on regional data

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.

50%

Source: Scott-Clayton and Li (2016), Brookings Institution Report

Portion of college dropouts who default on their loans within 12 years.

40%

Source: Miller (2019), Center for American Progress

BUT MANY DON’T HAVE ACCESS TO GET STARTED…

…AND EVEN FEWER EVER FINISH.

THANK YOU TO OUR

FOUNDING PARTNERS

Brian & Coleen GELBER

HOPE CHICAGO TWO-GENERATION PROGRAM MODEL

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

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

Increased household earnings and financial stability for South and West side communities

STRATEGY ACTION IMPACT BUILD BELIEF

ENABLE CHOICE CONNECT TO OPPORTUNITY TRANSFORM CHICAGO

The Husband & Wife Duo / Owners of Mielle Organics MELVIN & MONIQUE RODRIGUEZ

POSTSECONDARY EDUCATION

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

All 23 college and university partners were represented; dorm room care

provided by Betsy’s Blankets and Mielle Organics

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.

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.

Corporate Partners Programmatic Partners

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 Hoffman

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

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 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

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

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