Thrive Scholars
- Assets
- $12.5m
- Revenue
- $21.3m
- Investments
- $0.0
- Employees
- 254
- Location
- Los Angeles, CA
- Founding
- 03/2014
- Data as of
- 08/2023
- EIN
- 45-5619310
Organization Overview
Thrive Scholars is located in Los Angeles, CA. 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 08/2023, Thrive Scholars employed 254 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 08/2023, Thrive Scholars generated $21.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 23.8% each year . All expenses for the organization totaled $20.1m during the year ending 08/2023. While expenses have increased by 32.6% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP HIGH-ACHIEVING, UNDERREPRESENTED STUDENTS GRADUATE FROM TOP COLLEGES
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 100 COLLEGE, OVER 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 3.42 UPON COLLEGE GRADUATION; 75% 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 100 COLLEGES, NOT JUST SIMILAR HIGH-ACHIEVING, ECONOMICALLY DISADVANTAGED, FIRST-GENERATION STUDENTS OF COLOR. THEY ARE 10% MORE LIKELY TO GRADUATE THAN THEIR MORE PRIVILEGED PEERS AND 25% MORE LIKELY TO PERSIST IN DIFFICULT STEM MAJORS.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 3.4, STEM PERSISTENCE ROSE FROM 20% TO 75%, AND 6-YEAR GRADUATION RATES INCREASED FROM 90% TO 98%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Stein Chief Executive Officer | Officer | 40 | $330,235 |
Ana Archibald Chief Equity And Inclusion Officer | Officer | 40 | $236,502 |
Tal Gilad Until June 2023 Chief Advancement Officer | Officer | 40 | $198,758 |
Ava Archibald Chief Operating Officer | Officer | 40 | $188,486 |
Marcie Perez Managing Director Of Communications And Content St | 40 | $168,422 | |
Bethany Goldszer Director Of Site Growth | 40 | $164,726 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robhana Management Office Rental | 8/30/22 | $181,524 |
Greenwich Harbor Partners Llc Executive Search | 8/30/22 | $128,678 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $178,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,010,221 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,188,561 |
| Total Program Service Revenue | $0 |
| Investment income | $75,900 |
| 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 | $21,264,461 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,437,309 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,439,157 |
| Compensation of current officers, directors, key employees. | $222,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,371,174 |
| Pension plan accruals and contributions | $180,847 |
| Other employee benefits | $572,024 |
| Payroll taxes | $615,147 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $164,342 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,213,020 |
| Advertising and promotion | $0 |
| Office expenses | $68,718 |
| Information technology | $922,220 |
| Royalties | $0 |
| Occupancy | $489,555 |
| Travel | $352,926 |
| 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 | $59,655 |
| Insurance | $35,351 |
| All other expenses | $0 |
| Total functional expenses | $20,107,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,441,861 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,652,208 |
| Accounts receivable, net | $229,701 |
| 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 | $147,168 |
| Net Land, buildings, and equipment | $106,141 |
| Investments—publicly traded securities | $1,791,003 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,135,557 |
| Total assets | $12,503,639 |
| Accounts payable and accrued expenses | $1,957,466 |
| Grants payable | $174,162 |
| 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 | $1,049,154 |
| Total liabilities | $3,180,782 |
| Net assets without donor restrictions | $1,790,649 |
| Net assets with donor restrictions | $7,532,208 |
| 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 | $12,503,639 |