Thrive Scholars is located in Boston, MA. The organization was established in 2014. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 08/2021, Thrive Scholars employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thrive Scholars is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Thrive Scholars generated $13.7m in total revenue. All expenses for the organization totaled $6.8m during the year ending 08/2021. While expenses have increased by 67.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THRIVE SCHOLARS IS FOR HIGH-ACHIEVING, LOW-INCOME, UNDERREPRESENTED STUDENTS TO GET INTO AND GRADUATE FROM TOP COLLEGES EQUIPPED TO REACH THEIR FULL CAREER POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVER THE PAST 20 YEARS, THRIVE SCHOLARS HAS DEVELOPED A PROVEN SIX-YEAR- LONG PROGRAM MODEL THAT SUPPORTS STUDENTS STARTING IN THE 11TH GRADE AND EXTENDS THROUGH COLLEGE GRADUATION AND EARLY CAREER. IT FOCUSES ON FIVE PILLARS OF SUPPORT THAT CLOSE THE OPPORTUNITY GAP BETWEEN OUR SCHOLARS AND THEIR MORE PRIVILEGED PEERS, INCLUDING: - EXPERT COLLEGE ADVISING: OUR TRAINED PROFESSIONAL ADVISORS HELP OUR SCHOLARS FIND "BEST FIT" SELECTIVE COLLEGES AND SHOWCASE THEIR QUALIFICATIONS FOR ADMITTANCE. - ACADEMIC PREPARATION: THRIVE PROVIDES TWO SUMMERS OF A SIX-WEEK RESIDENTIAL ACADEMIC BOOT CAMP FOR RISING HIGH SCHOOL SENIORS (AT AMHERST COLLEGE) AND COLLEGE FIRST-YEARS (AT THE UNIVERSITY OF SOUTHERN CALIFORNIA) CALLED SUMMER ACADEMY, OFFERING COLLEGE-LEVEL INSTRUCTION TARGETING MATH, WRITING, AND CRITICAL THINKING SKILLS TAUGHT BY COLLEGE PROFESSORS. - SOCIAL, EMOTIONAL & ACADEMIC SUPPORT: THRIVE OFFERS SCHOLARS TAILORED 1:1 SUPPORT DURING COLLEGE VIA PROFESSIONAL STAFF AND VOLUNTEER MENTORS TO ENSURE THEY SUCCEED ACADEMICALLY, SOCIALLY, AND EMOTIONALLY. - FINANCIAL SUPPORT: THRIVE ADVISES SCHOLARS TOWARD NO-LOAN COLLEGES (WHICH MEET THEIR FULL FINANCIAL NEED), SO THEY OFTEN GRADUATE DEBT-FREE. WE OFFER BRIDGE STIPENDS TO HELP MEET COSTS NOT COVERED BY TRADITIONAL FINANCIAL AID PACKAGES. - CAREER DEVELOPMENT: THRIVE PROVIDES A 4-YEAR CAREER DEVELOPMENT CURRICULUM, INCLUDING 2 YEARS OF INTENSIVE, PERSONALIZED CAREER COACHING FOCUSING ON HARD AND SOFT SKILLS, IN ADDITION TO ACCESS TO OUR PROFESSIONAL NETWORK AND INTERNSHIPS AND JOBS AT OUR CORPORATE PARTNERS. THRIVE RECENTLY ADDED INDUSTRY-FOCUSED TRACKS FOR SCHOLARS INTERESTED IN PURSUING CAREERS IN LIFE SCIENCES, TECHNOLOGY & ENGINEERING, FINANCE, CONSULTING, AND LAW. THRIVE'S HIGH-TOUCH MODEL IS DESIGNED TO PROVIDE INDIVIDUALIZED DIRECT-TO- STUDENT SUPPORT FOR SIX CONTINUOUS YEARS ACROSS ALL PROGRAM AREAS. AT EACH STAGE IN OUR PROGRAM, SCHOLARS ARE SUPPORTED BY A HIGHLY TRAINED, PROFESSIONAL STAFF MEMBER. THRIVE'S PROGRAM STAFF BRING SPECIFIC EXPERTISE RELATIVE TO THE STAGE OF A SCHOLAR'S JOURNEY. FOR EXAMPLE, OUR COLLEGE GUIDANCE PROFESSIONALS HAVE EXPERIENCE WORKING AS ADMISSIONS OFFICERS AT HIGHLY SELECTIVE COLLEGES AND OUR CAREER COACHES HAVE WORKED IN COLLEGE AND PROFESSIONAL SCHOOL CAREER OFFICES AND AS RECRUITERS IN BUSINESSES. OUR SCHOLARS ACHIEVE AMAZING OUTCOMES. THEY GET INTO IMPRESSIVE COLLEGES - OVER 90% ATTEND TOP 100 COLLEGES, OVER 80% ATTEND TOP 50 COLLEGES, AND OVER 40% ATTEND IVY LEAGUE+ COLLEGES. THEY THRIVE ACADEMICALLY - 85% EARN A B AVERAGE OR BETTER COMPARED TO LESS THAN 50% FOR SIMILAR STUDENTS, 65% PERSIST IN DIFFICULT STEM MAJORS, THREE TIMES BETTER THAN THE AVERAGE FOR STUDENTS OF COLOR FROM LOW-INCOME BACKGROUNDS, AND THEY EARN AN AVERAGE GPA OF 3.4 COMPARED TO 2.0 FOR SIMILAR STUDENTS. 98% OF THRIVE SCHOLARS GRADUATE FROM COLLEGE COMPARED TO LESS THAN 50% FOR SIMILAR STUDENTS. THRIVES SCHOLARS NOT ONLY DO BETTER THAN SIMILAR STUDENTS, THEY ALSO OUTPERFORM THE GENERAL POPULATION AT TOP 100 SCHOOLS. THEY ARE 15% MORE LIKELY TO PERSIST IN STEM DEGREES AND THEY ARE 10% MORE LIKELY TO GRADUATE THAN THE GENERAL POPULATION AT THESE COLLEGES, INCLUDING THEIR MORE PRIVILEGED PEERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Steve Stein CEO | Officer | 40 | $248,261 |
Ana Archibald Chief Op Off | Officer | 40 | $168,039 |
Karen Williams Cheif Strat | Officer | 40 | $165,961 |
Daniel Navisky East Coast E | Officer | 40 | $116,426 |
Roland Davis Chief Prog O | Officer | 40 | $109,982 |
Callum Henderson Treasurer | OfficerTrustee | 3 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Extension Engine Llc Instruct Design | 8/30/21 | $106,871 |
Casual Films Inc Marketing | 8/30/21 | $166,992 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $13,709,581 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,709,581 |
Total Program Service Revenue | $0 |
Investment income | $10,390 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $13,719,971 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $1,066,291 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,035,995 |
Compensation of current officers, directors, key employees. | $176,119 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,004,905 |
Pension plan accruals and contributions | $47,336 |
Other employee benefits | $191,690 |
Payroll taxes | $280,362 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $87,646 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,283,294 |
Advertising and promotion | $0 |
Office expenses | $86,795 |
Information technology | $242,541 |
Royalties | $0 |
Occupancy | $332,969 |
Travel | $20,514 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $31,490 |
Insurance | $13,895 |
All other expenses | $0 |
Total functional expenses | $6,758,247 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $8,992,906 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $4,561,183 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $107,839 |
Net Land, buildings, and equipment | $94,411 |
Investments—publicly traded securities | $109,556 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $76,500 |
Other assets | $63,925 |
Total assets | $14,006,320 |
Accounts payable and accrued expenses | $621,476 |
Grants payable | $164,036 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $785,512 |
Net assets without donor restrictions | $6,539,625 |
Net assets with donor restrictions | $6,681,183 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $14,006,320 |
Over the last fiscal year, we have identified 1 grants that Thrive Scholars has recieved totaling $20,000.
Awarding Organization | Amount |
---|---|
Hearthstone Charitable Foundation Moultonborough, NH PURPOSE: HUMANITARIAN | $20,000 |
Organization Name | Assets | Revenue |
---|---|---|
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Echoing Green Inc New York, NY | $60,744,468 | $19,754,073 |
Partnership For Ed Advancement Inc New York, NY | $36,194,552 | $41,198,488 |
Alavi Foundation New York, NY | $64,468,510 | $30,201,673 |
Uncommon Lender Inc New York, NY | $174,239,408 | $12,168,791 |
Family Enrichment Network Inc Johnson City, NY | $8,020,609 | $12,621,621 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
The Teagle Foundation Incorporated New York, NY | $172,379,349 | $12,655,674 |
Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |