IMPACT REPORT
From middle school through college and career, our programs are PROMOTING EQUITY AND DRIVING IMPACT
118 college graduates in the Class of 2023, 85% earned their degrees DEBT-FREE
WELCOME Dear Making Waves community, This summer, we hosted a kick-off event for incoming first-year college students enrolled in our college and career success program. We introduced them to Making Waves’ college programming and began preparing them for their first year in college. The students I met were so excited for the upcoming chapter, including campus life, making friends, academic pursuits, internships, study abroad opportunities, and making a positive impact on their families and the world. They inspired me, and I’m confident they will have a lasting impact on our Bay Area community and beyond. Too many students in the Bay Area and across the country do not have access to the opportunities and resources needed to attend and graduate from college, which holds our community and country back from reaching our full potential. At Making Waves, our programs support historically underserved and underrepresented middle school, high school, and college students on their path to college graduation and career. We have learned, and continue to learn, so much about what it takes to do this work well, and we are committed to sharing our resources so we can reach more students and families and remove barriers to attending college and persisting to graduation.
Your support is the driving force behind our efforts and impact. You create equitable access to college and career success, pathways to social mobility and wealth generation for first-generation students of color, and a stronger source of diverse talent in the Bay Area that will accelerate our region’s success. We couldn’t do it without you. Thank you for championing Making Waves and being advocates for expanding educational opportunity.
With deep appreciation, Patrick O’Donnell Chief Executive Officer Making Waves Education Foundation
TABLE OF CONTENTS About Making Waves
3
Our Model 4 Results and Success Stories
6
Donors and Supporters 14 Leadership
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Financials 19
ABOUT MAKING WAVES COLLEGE. GRADUATION. CAREER.
Making Waves Education Foundation is a Bay Area nonprofit committed to equity. Our programs support historically underserved and underrepresented middle school, high school, and college students on their path to college graduation and career.
Vision
Mission
Core Values
A society in which all youth – regardless of race, ethnicity, or socioeconomic status – have access to high-quality educational opportunities and the tools to achieve success.
To advance educational opportunities for collegebound, career-minded, historically underrepresented and underserved youth.
• Drive impact • Promote equity • Build community • Do hard things • Learn and grow
Doris Martinez (Wave-Maker, UC Berkeley ‘23) (center) celebrating graduation with Making Waves college coaches, Felicia Tripp (left) and Ashley Allston (right). 3
OUR MODEL
Richmond
Richmond, California Partnering with students from 5th grade through college and career Making Waves brings together the impact of two nonprofits. Making Waves Academy is a public charter school that prepares 5th-12th graders for college, career, and life success. Graduates then have the opportunity to join our Making Waves Education Foundation college and career success program.
“
Making Waves gave me a community I could always count on.” – Juritzy Mata, Making Waves Academy ‘19, Cal Poly Pomona ‘23
90.5% 4
high school graduation rate (Making Waves Academy, 2023)
San Francisco Bay Area
Making college affordable and graduation and careers attainable Our program is also available to first-gen students, students of color, and students from low-income backgrounds in the Bay Area. Students receive scholarships and partner with our team of college coaches, financial coordinators, and career specialists so they can reach graduation with minimal to no debt and ready for their first job.
“
With Making Waves by our side, navigating college was so much easier.” – Diraj Thajali, UC Berkeley ‘23
100%
of graduates met the A-G course requirements for admissions eligibility to UC and CSU campuses
ADVANCING EDUCATIONAL EQUITY A bachelor’s degree leads to greater economic and career mobility for individuals and better outcomes for society. Yet, nationally, only 21% of first-generation college students from low-income backgrounds graduate with a bachelor’s degree in six years. We know a more equitable future is possible. Our programs provide academic, financial, and career support for historically underserved and underrepresented students so they can reach their college, career, and life goals.
United States
IN 2022-23, WE SUPPORTED:
Sharing college and career resources with as many students and families as possible
1,100+
We are committed to reaching more students and helping remove barriers. We are growing our impact by codifying our expertise and leveraging technology, including AI, to strive for universal access to college and career resources.
middle and high school students
500+ college students
630+ college graduates
85%
of our students graduated college debt-free
(Class of 2023)
61%
obtained a full-time job that requires a bachelor’s degree or started graduate school (Class of 2022)
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RESULTS AND SUCCESS STORIES
PARTNERING WITH STUDENTS FROM 5TH GRADE THROUGH COLLEGE AND CAREER
For most of our students, being a part of the Making Waves community begins in 5th grade. Making Waves Academy is a public charter school that prepares middle and high school students for college, career, and life success. Students then have the opportunity to join our Making Waves Education Foundation college and career success program, which supports them through college and into their careers.
MAKING WAVES ACADEMY STUDENTS BY THE NUMBERS
1,100+
85%
of students are from socioeconomically disadvantaged backgrounds
100% 6
students enrolled at Making Waves Academy
of graduates met the A-G course requirements for admissions eligibility to UC and CSU campuses
99%
of students are people of color
90.5%
100%
high school graduation rate in 2023
of seniors who applied to a four-year college were accepted to at least one
MAKING WAVES, FROM MIDDLE SCHOOL THROUGH COLLEGE AND CAREER Giovanna Barragan (left) and Jhosmar Barragan (right) decided to attend rival universities, USC and UCLA respectively, after graduating from Making Waves Academy in 2023. The sister and brother pair credit Making Waves with sparking their interest in college as early as 5th grade. Looking to use their college degrees to improve lives, Giovanna is studying non-governmental organizations and social change, and Jhosmar is studying biochemistry.
A 2023 graduate of San Francisco State University, Alejandro Aceves Madriz has been a part of the Making Waves community since enrolling at Making Waves Academy in 5th grade. With scholarship and coaching support from Making Waves Education Foundation, Alejandro graduated from college debt-free. A first-generation graduate, Alejandro’s next steps include pursuing a career in wealth management, a graduate degree in personal financial planning, and his Certified Financial Planner™ designation to help future generations make informed financial decisions that positively impact their lives.
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RESULTS AND SUCCESS STORIES
MAKING COLLEGE AFFORDABLE AND GRADUATION AND CAREERS ATTAINABLE
Our college and career success program includes scholarships, college and career coaching, and financial planning support so students can reach graduation with minimal to no debt and ready for their first job.
MAKING WAVES EDUCATION FOUNDATION STUDENTS BY THE NUMBERS
515
Wave-Makers attend 75 colleges and universities
79%
87%
are first-generation college students
97% are people of color
are eligible for federal Pell Grants
STARTING COLLEGE WITH A SUPPORT SYSTEM IN PLACE Robert Adams just started his first year at his top choice college, UC Berkeley, where he described his experience so far as: “Amazing. It’s collaborative because you meet people who are from different backgrounds. It’s a whole different experience.” Majoring in astrophysics, Robert plans to explore his passion for discoveries and his different career options while in college, with support from Making Waves.
“
It’s a nice feeling knowing someone has your back, that there’s somebody behind you, helping you get through what you’re trying to get through.”
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College
Graduation
Career
We partner with WaveMakers to navigate their college journeys by providing scholarships, college and career coaching, and financial planning support.
We support Wave-Makers in internalizing the power of their own identity, purpose, and agency to persist and reach college graduation.
We strive for Wave-Makers to graduate from college on time, with minimal debt, and ready for a strong start to their career, aligned with their values and dreams.
University of 199 at California campuses
91%
California State 169 at University campuses
66 at community colleges 49 at private universities out-of-state 13 at public universities
$
93%
of Wave-Makers are on track to have $0 in student loan debt at graduation
of Wave-Makers persisted through their first year of college
60%
six-year college graduation rate, more than double the rate of their peers*
85%
630+
college graduates are part of our Wave-Maker alumni network
61%
of Class of 2022 Wave-Makers obtained a full-time job that requires a bachelor’s degree or started graduate school within a year of college graduation
graduated from college debt-free in 2023 *According to the Pell Institute, nationally, 21% of first-time, low-income, and first- generation college students obtain a bachelor’s degree within 6 years of first enrolling in a 4-year or 2-year post-secondary institution. 9
RESULTS AND SUCCESS STORIES
MAKING COLLEGE AFFORDABLE AND GRADUATION AND CAREERS ATTAINABLE
SCHOLARSHIPS AND COACHING FOR COLLEGE AND CAREER SUCCESS A 2023 UC Berkeley graduate, Diraj Thajali majored in electrical engineering and computer science and is now a full stack engineer at a block chain services company.
“
I want to thank the whole Making Waves team for helping first-generation and lowincome students achieve our goals. With you guys by our side, navigating college was so much easier. Whether it was helping financially, academically, emotionally, or professionally, every staff member really cared, and I am forever grateful for it.”
2023 GRADUATION OUTCOMES
118
students received their college degrees from 34 colleges and universities
Wave-Makers earned degrees from
All 9 $ 10
Undergraduate University of California campuses
9
California State University campuses
85% of our college graduates earned
3
Ivy League universities
their degrees debt-free with $0 in student loans
1
Historically Black College and University
TEST AND LEARN SPOTLIGHT While our college and career outcomes are giving us optimism, we know there are still systemic challenges that need solutions. Our program strategy is grounded in continuous improvement, and one of our core values is Learn and Grow, so we look at our data, identify pain points, test new programming, reflect on what we learn, and iterate until we unlock new solutions that drive stronger outcomes. Here’s a case study of this work in action.
DIGGING INTO OUR DATA To get to the root cause, we looked at our data and heard from our students. We noticed that attrition was higher at colleges with lower Estimated College Completion, or ECC, rates, a national metric measuring the percentage of students who graduate on time. Our students attending colleges with lower ECC rates persisted at lower rates and communicated with their Making Waves coach less frequently than our other students.
WHAT WE LEARNED The results? In follow-up surveys, students said First-Year Kick-Off made them feel connected, confident, reassured, and prepared. In the months following, we saw other positive indicators, like students communicating with their coach at higher rates and completing registration processes way earlier than ever before. Coaches are now implementing new programming at campuses with lower ECC rates so that firstand second-year students can build community with each other, connect with older Wave-Makers, and feel a sense of belonging on campus.
IDENTIFYING A CHALLENGE IN COLLEGE PERSISTENCE Last year we identified a challenge: an increase in student attrition between students’ second and third year of college. Our persistence rate is incredibly high between students’ first and second year. Why were a subset of students then dropping out during year two?
TESTING A NEW APPROACH Our hypothesis? First- and second-year students will persist at higher rates if they build a strong sense of belonging both with Making Waves and on their college campuses. A strong sense of belonging is a pillar of our Wave-Maker Success Framework, but we needed to adapt our programming to make it come alive. In June 2023, we hosted a new in-person “First-Year Kick-Off” event where incoming first-year students met their coaches, built community with Making Waves staff and other college students, and prepared for college life.
“
The event was a labor of love. It played a big role in helping our students understand what it means to be a part of this community and how we are committed to their success and journey,” shared Ayasha Tripp, senior manager of coaching services. 11
RESULTS AND SUCCESS STORIES
MAKING COLLEGE AFFORDABLE AND GRADUATION AND CAREERS ATTAINABLE
RETURNING TO THE BAY AREA TO GROW A CAREER Guadalupe Ortega has been a part of the Making Waves community for 12 years, since enrolling at Making Waves Academy as a 5th grader. In 2023, she graduated from UC Davis with a degree in managerial economics and started a job in the Bay Area at JPMorgan Chase.
“
I was able to graduate without any student loans! Entering the workforce, I am now able to focus on investing my money, and I am excited about becoming financially stable. I know that my current position has a lot of career advancement opportunities.”
CAREER OUTCOMES
61%
of alumni obtained a full-time job that requires a bachelor’s degree or started graduate school within a year of college graduation
Wave-Makers in the workplace
Education,
100%
of these employed WaveMakers are in jobs related to their career plan
Finance, 19% Accounting, and Insurance Sciences, 19% Engineering, and Technology
26% Law, Policy, and Social Impact
15% Other Marketing, 11% Communications, and Public Relations
Represents a 49% knowledge rate from the Class of 2022 college graduates 12
11% Health and Medicine
SHARING COLLEGE AND CAREER RESOURCES WITH AS MANY STUDENTS AND FAMILIES AS POSSIBLE
Across the Bay Area and the U.S., barriers to educational opportunity persist for too many students. To reach as many students as possible, we are codifying all that we’ve learned about supporting underrepresented students to attend and graduate from college. This includes leveraging technology such as: Our college and career chatbot. We’re using AI for social impact. Students and families can text us anytime to get their college and job questions answered in real time. We also proactively send guidance and reminders about college admissions, financial aid, scholarships, and deadlines.
Our Making Waves TikTok account. Students and families can get a snapshot of college life from students and advice from college coaches, financial coordinators, and career specialists.
Avery Tomlin Ricondo, a Wave-Maker attending UC Davis. 13
DONORS AND SUPPORTERS Lead Donors John H. & Regina K. Scully Foundation
Michael and Pam Franklin Gifting Fund Corina Garcia
Individual Donors
Diana and Michael Gilmore
Anonymous
Sharon Henning and George A. Goin
Napoleon Albino Baguisi
Phillip and Norma Gordon Charitable Fund
Sue and Jim Bartlett
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Hamid and Christina Moghadam Momsen Charitable Fund Robert Moor Hannah Morley Jennifer Henry and Alton B. Nelson, Jr. Wendy and Robert Nielsen Ellen O’Donnell
The D. Wehlitz & M. Berg Charitable Fund
Corinne Hedrick
Derrick Bolton
Caitlin Holloway
Gabriella and Stephen Bowling
Meka and Ajani Jackson
Don Briggs
Claire Janin
Patricia and John Cahill
Daniel Johnson
Andres Campos and Hilda Martinez
Jovita Jordan
Chen Family Fund
Bonnie Levinson and Donald Kay
Lulu Xue Chen and Qi Ping Tang
Jasmine Kim
Jane Choi
Alicia Malet Klein and Tom Klein
Jacquelyn and James Christensen Jen Thomas and Brandon Cohan
Sidney Landman and Margalit Ashira Ir
Helen Jupiter and Matthew Cohan
Bridget Anderson and Roy Latka
Barbara and Richard Shoop
Mary Ann and Ron Cohan
Loon Point Fund
Shakti Sotomayor
Lori and Ray Crawford
Juan Sarabia Magana
Edith Bogard Dagley Fund
Malet Family Fund
Madeline and Isaac Stein Family Fund
Darcy and Richard Deming
Margaret and Michael McCaffery
Theresa and George Eisenberg
Edward and Betsy McDermott
Dana and Robert Emery
Sheila McGee
Laura and Paul Escobosa
James and Patricia Melehan
Theresa Fay-Bustillos
George Miller
Willard Felsen
MMG Gift Account
Wilbur Weinberg Charitable Giving Fund
Jane and Paul Foster
Edward Moffatt
Edward and Lisa Williams Fund
Kristin Hite
John O’Donnell Patrick O’Donnell and Joe Shook Rachelle Aberin and Andres Orozco Ann and Michael Parker Wendy and Fred Parkin Katie and Dustin Peterson Marissa and Matthew Purkiss Molly McGee Randisi The Arthur Rock Fund Jani and Terry Ross Bonnie Shea and Brendan McShea
Chi My Ho and Kevin Tran Lou Tran Thomas and Pauline Tusher Family Fund Jann and Jay Veach
Thank you to the community leaders accelerating the impact of Making Waves Education Foundation
Steve and Chris Wilsey Fund
Special Thanks
Macy Yip
Benevity Community Impact Fund
Corporate and Foundation Support
Fidelity Charitable Head & Heart Advisory
5 Ryan Foundation
J.P. Morgan Charitable Giving Fund
Activision Blizzard, Inc
Moor Children’s Foundation
Air Products
Morgan Stanley
Allen Matkins Leck Gamble Mallory & Natsis LLP
Morrison Foerster
Ambrose Group, Inc.
Pittsburg Unified School District
Anonymous
San Francisco Foundation
Dodge & Cox
Schwab Charitable
Hendrickson Family Foundation
Silicon Valley Community Foundation
Jonathan Parker Real Estate Kim Marie Summers-Silva Trust
Stanford Alumni Consulting Team
La Centra Summerlin Foundation
Stanford University
Marin County Campaign
The Chicago Community Trust
Mattress Firm One Hope Payette River Foundation Quest Fund Silver Giving Foundation
TRUiST by Frontstream Vanguard Group Venture Leadership Collective YourCause
Simpson Strong-Tie Studio Bondy Architecture Tipping Point Community University of Wisconsin, Whitewater Western Alliance Bank / Bridge Bank Zalec Familian and Lilian Levinson Foundation 15
LEADERSHIP BOARD OF DIRECTORS
16
John H. Scully
Lori Kulvin Crawford
Founder and Co-Chair, Making Waves Education Foundation Board; Founding Partner, SPO Partners & Co.
Certified Public Accountant; Former Trustee, Computer History Museum
Regina K. Scully
Theresa Fay-Bustillos
Co-Chair, Making Waves Education Foundation Board; Philanthropist, Filmmaker, Founder and CEO Artemis Rising Foundation
Philanthropic, business, and nonprofit executive
Ronald A. Cohan
Phil Gordon
Secretary, Making Waves Education Foundation Board; Retired Public Contracts Lawyer
Of Counsel, Perkins Coie LLP
Eli Weinberg
Ajani Jackson, MD
Vice President, Making Waves Education Foundation Board; CIO, Filbert Holdings
Adult, Adolescent, and Child Psychiatrist; Wave-Maker, Xaiver University ‘02, Morehouse College ‘09
Steve Blass
Alicia Malet Klein
Co-Founder and Chief Investment Officer of Ashe Capital
President, HeadsUp Public Education Foundation; Board President, Making Waves Academy; Retired GATE Instructor
Derrick Bolton
Sid Landman
Associate Dean for External Relations, Stanford Graduate School of Business
Retired SCORE Counselor, Former CFO, Hispanic Scholarship Fund
SENIOR LEADERSHIP TEAM Patrick O’Donnell
Aiyana Mourtos
Chief Executive Officer
Chief Program Officer
Carey Hawkins Ash, JD, PhD
Erick Roa
Vice President of Partnerships
Chief Operating Officer
Allison Holton Chief Development Officer
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FINANCIALS In Fiscal Year 2023, We Raised
Total Assets
$23.6 million
$250.9 million
In Fiscal Year 2023, We Invested
$14.5 million in operating expenses and $9.1 million in construction costs In Fiscal Year 2023, We Supported
515 Wave-Makers in college with an average scholarship amount of $3,900 and one-to-one college, career, and financial coaching valued at
$5,300 per student
84% 16%
Real Estate Assets (e.g., Making Waves Academy’s campus and the Foundation’s office) Other Assets
Allocation of Expenses
82% 18% 1%
Program Services $17,178,496 Management/Administration $3,729,388 Fundraising $160,825
Note: FY23 figures are unaudited. For more information, please visit making-waves.org/financials
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Wave-Makers are changing the world. Join us in supporting them. making-waves.org info@making-waves.org