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Nonprofiteer
← THRIVE SCHOLARS

Form 990 for tax year 2023

Filed by THRIVE SCHOLARS.

Totals

Total revenue
$18,456,224
Total expenses
$21,773,451
Contributions and grants received
$18,382,714
Grants paid
$4,709,628
Program service revenue
$0
Investment income
$73,510
Other revenue
$0
Total assets, end of year
$8,721,527
Total liabilities, end of year
$2,703,175
Net assets or fund balances, end of year
$6,018,352
Program services expenses (Part IX)
$17,211,173
Management and general expenses
$1,579,518
Fundraising expenses
$2,982,760
Program service expenses (Part III)
$17,211,173

Program services were 79.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $18,382,714

  • 3 · Investment income

    total $63,389 · excluded $63,389

  • 7a · Gross sales of assets other than inventory

    securities $2,246,000

  • 7b · Less cost or other basis and sales expenses

    securities $2,235,879

  • 7c · Gain or loss

    securities $10,121

  • 7d · Net gain or loss

    total $10,121 · excluded $10,121

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,709,628 · program services $4,709,628

  • 5 · Compensation of officers, directors and key employees

    total $1,922,739 · program services $1,086,832 · management and general $250,117 · fundraising $585,790

  • 7 · Other salaries and wages

    total $8,928,805 · program services $6,932,515 · management and general $545,414 · fundraising $1,450,876

  • 8 · Pension plan contributions

    total $232,517 · program services $178,604 · management and general $15,005 · fundraising $38,908

  • 9 · Other employee benefits

    total $449,305 · program services $349,427 · management and general $9,638 · fundraising $90,240

  • 10 · Payroll taxes

    total $771,124 · program services $566,172 · management and general $60,791 · fundraising $144,161

  • 11c · Fees: accounting

    total $210,857 · management and general $210,857

  • 11d · Fees: lobbying

    total $32,400 · management and general $32,400

  • 11g · Fees: other

    total $2,778,856 · program services $2,091,516 · management and general $325,035 · fundraising $362,305

  • 13 · Office expenses

    total $72,781 · program services $36,308 · management and general $31,819 · fundraising $4,654

  • 14 · Information technology

    total $801,766 · program services $769,636 · management and general $8,448 · fundraising $23,682

  • 16 · Occupancy

    total $326,175 · program services $222,961 · management and general $31,103 · fundraising $72,111

  • 17 · Travel

    total $309,581 · program services $164,140 · management and general $11,606 · fundraising $133,835

  • 22 · Depreciation, depletion and amortization

    total $125,010 · program services $103,434 · management and general $6,758 · fundraising $14,818

  • 24a · Other expenses: EVENT EXPENSES

    total $61,380 · fundraising $61,380

  • 24b · Other expenses: PAYROLL AND BANK FEES

    total $40,527 · management and general $40,527

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,441,861 · end of year $3,690,896

  • 3 · Pledges and grants receivable

    beginning of year $6,652,208 · end of year $3,307,364

  • 4 · Accounts receivable

    beginning of year $229,701 · end of year $178,340

  • 9 · Prepaid expenses and deferred charges

    beginning of year $147,168 · end of year $156,975

  • 10a · Land, buildings and equipment: cost or other basis

    $260,428

  • 10b · Land, buildings and equipment: accumulated depreciation

    $176,528

  • 10c · Land, buildings and equipment, net

    beginning of year $106,141 · end of year $83,900

  • 11 · Investments: publicly traded securities

    beginning of year $1,791,003 · end of year $505,676

  • 15 · Other assets

    beginning of year $1,135,557 · end of year $798,376

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,957,466 · end of year $1,565,932

  • 18 · Grants payable

    beginning of year $174,162 · end of year $367,549

  • 25 · Other liabilities

    beginning of year $1,049,154 · end of year $769,694

  • 27 · Net assets without donor restrictions

    beginning of year $1,790,649 · end of year $1,416,130

  • 28 · Net assets with donor restrictions

    beginning of year $7,532,208 · end of year $4,602,222

Mission and programs · 2023

Mission

WE PROVIDE HIGH-ACHIEVING STUDENTS FROM UNDER-RESOURCED COMMUNITIES THE OPPORTUNITIES THEY NEED TO THRIVE AT TOP COLLEGES AND IN MEANINGFUL CAREERS.

Activities or mission (Part I)

TO HELP HIGH-ACHIEVING, UNDER-RESOURCED STUDENTS GRADUATE FROM TOP COLLEGES

  • THRIVE SCHOLARS HAS ACHIEVED TREMENDOUS RESULTS IN SUPPORTING SCHOLARS TO ENROLL IN TOP COLLEGES, EARN GREAT GRADES, AND GRADUATE CAREER-READY. OUR RESULTS WITHIN THE LAST TWO YEARS SHOW THAT AT LEAST 92% OF THRIVE SCHOLARS ARE ATTENDING A TOP COLLEGE, 40% ARE GOING TO AN IVY LEAGUE+ SCHOOL (DEFINED AS THE IVY LEAGUE PLUS STANFORD, MIT, THE UNIVERSITY OF CHICAGO, AND DUKE), AND 98% GRADUATED FROM COLLEGE WITHIN SIX YEARS. OUR SCHOLARS HAVE AN AVERAGE GPA OF 3.5 UPON COLLEGE GRADUATION; 81% OF STEM SCHOLARS PERSISTED AND GRADUATED WITH A STEM DEGREE, AND OUR FIRST-YEAR COLLEGE SCHOLARS FINISHED THEIR FRESHMAN YEAR WITH AN AVERAGE GPA OF 3.4. OUR SCHOLARS ARE OUTPERFORMING THE GENERAL POPULATION AT TOP COLLEGES, NOT JUST SIMILAR HIGH-ACHIEVING, ECONOMICALLY DISADVANTAGED, FIRST-GENERATION STUDENTS OF COLOR. THRIVE SCHOLARS ARE 10% MORE LIKELY TO GRADUATE FROM COLLEGE THAN STUDENTS AT THESE HIGHLY RANKED COLLEGES, THEY ARE ALSO 18% MORE LIKELY TO PURSUE A STEM MAJOR AND 45% MORE LIKELY TO PERSIST IN THAT STEM MAJOR THAN STUDENTS AT HIGHLY RANKED COLLEGES.WE ATTRIBUTE THIS SUCCESS LARGELY TO OUR SIGNATURE SUMMER ACADEMY, A ROBUST 6-WEEK ACADEMIC PROGRAM DESIGNED TO DEMYSTIFY THE COLLEGE EXPERIENCE AND EXPOSE FIRST-GENERATION STUDENTS TO THE RIGORS OF COLLEGE. SINCE ITS INCEPTION, RESULTS HAVE BEEN OVERWHELMING: OUR SCHOLARS' GPAS INCREASED FROM 2.9 TO 3.45 STEM PERSISTENCE ROSE FROM 20% TO 71%, AND 6-YEAR GRADUATION RATES INCREASED FROM 90% TO 99%.

    Expenses $17,211,173 · Grants $4,709,628

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MARTIN JACOBS

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • CALLUM HENDERSON

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • RUSSELL STEIN

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • SEAN LOGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BRIAN LENIHAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JIM LONDON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TRISHA LONDON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JESSICA PEREZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PAT KIRBY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • EVELYN HOU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RICK HESS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOAN HERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • VANESSA GONZALEZ-LOPEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TIFFANIE BOYD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RENITA SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PHILLIP AUBREY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PEDRO GOMEZ

    DIRECTOR (UNTIL 10/2023)

    Total calculated
    $0
    Hours/week
    2

  • STEVE STEIN

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $442,905
    From this org
    $422,859
    From related orgs
    $0
    Other
    $20,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $422,859
    Bonus
    $0
    Other
    $0
    Deferred
    $9,467
    Nontaxable benefits
    $10,579
    Filer's total
    $442,905

  • ANA ARCHIBALD

    PRESIDENT AND CEO

    Total calculated
    $327,400
    From this org
    $318,353
    From related orgs
    $0
    Other
    $9,047
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $318,353
    Bonus
    $0
    Other
    $0
    Deferred
    $8,513
    Nontaxable benefits
    $534
    Filer's total
    $327,400

  • TYRA MONTINA

    CHIEF OPERATING OFFICER

    Total calculated
    $282,133
    From this org
    $255,401
    From related orgs
    $0
    Other
    $26,732
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,401
    Bonus
    $0
    Other
    $0
    Deferred
    $7,167
    Nontaxable benefits
    $19,565
    Filer's total
    $282,133

  • AVA ARCHIBALD

    CHIEF EQUITY AND INCLUSION OFFICER

    Total calculated
    $251,700
    From this org
    $222,969
    From related orgs
    $0
    Other
    $28,731
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,969
    Bonus
    $0
    Other
    $0
    Deferred
    $6,420
    Nontaxable benefits
    $22,311
    Filer's total
    $251,700

  • MARCIE PEREZ

    MANAGING DIRECTOR OF COMMU

    Total calculated
    $200,140
    From this org
    $185,420
    From related orgs
    $0
    Other
    $14,720
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,420
    Bonus
    $0
    Other
    $0
    Deferred
    $4,203
    Nontaxable benefits
    $10,517
    Filer's total
    $200,140

  • KERRY WATERSON

    MANAGING DIRECTOR OF REGIO

    Total calculated
    $185,714
    From this org
    $174,569
    From related orgs
    $0
    Other
    $11,145
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,569
    Bonus
    $0
    Other
    $0
    Deferred
    $3,757
    Nontaxable benefits
    $7,388
    Filer's total
    $185,714

  • MONIQUE PEREZ

    MANAGING DIRECTOR OF CORPO

    Total calculated
    $194,412
    From this org
    $172,455
    From related orgs
    $0
    Other
    $21,957
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,455
    Bonus
    $0
    Other
    $0
    Deferred
    $5,076
    Nontaxable benefits
    $16,881
    Filer's total
    $194,412

  • MARTHA SANCHEZ

    MAJOR GIFTS OFFICER

    Total calculated
    $176,731
    From this org
    $164,842
    From related orgs
    $0
    Other
    $11,889
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,842
    Bonus
    $0
    Other
    $0
    Deferred
    $4,839
    Nontaxable benefits
    $7,050
    Filer's total
    $176,731

  • BETHANY GOLDSZER

    DIRECTOR OF SITE GROWTH

    Total calculated
    $182,954
    From this org
    $164,616
    From related orgs
    $0
    Other
    $18,338
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,616
    Bonus
    $0
    Other
    $0
    Deferred
    $4,806
    Nontaxable benefits
    $13,532
    Filer's total
    $182,954

  • TAL GILAD

    FORMER CHIEF ADVANCEMENT OFFICER

    Total calculated
    $193,776
    From this org
    $185,041
    From related orgs
    $0
    Other
    $8,735
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,041
    Bonus
    $0
    Other
    $0
    Deferred
    $2,583
    Nontaxable benefits
    $6,152
    Filer's total
    $193,776

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2025
IRS schema version
2023v6.0
Source object
202511329349300236

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