Transcription
2016 Annual ReportInversant Alumni: Nahiomy Alvarez - Williams College ‘16
From Our Founder & CEODear Friends,We are immensely excited to share our 2016 achievements through our annualreport. In this report you’ll find heartwarming stories from some of our families,as well as the quan ta ve results of our hard work within the communi es weserve. In 2016, our number of families, savings, partnerships and collegesuccesses have all grown immensely and Inversant has reached manymilestones, including: Recipient of 100,000 Cummings Founda on grant. Inversant was oneof 100 local nonprofits to receive grants of 100,000 through the CummingsFounda on's " 100K for 100" program. Won state approval of a pilot College Savings Account program for low-income residents inHaverhill, Lowell, Pi sfield, Springfield, and Worcester in the Massachuse s State Budget for2017. The ini a ve, funded through public-private partnerships, will provide a matched savingsprogram and financial educa on curriculum.Our impact within our communi es proves that Inversant’s program model is successful and ourcon nued expansion and growth is evidence that our partners and funders believe in the need forour programs. Inversant is commi ed to helping parents engage their children to achieve their goalsfor higher educa on at a reasonable cost. All of our achievements would be impossible without ourmany supporters. We’d like to extend our gra tude to our numerous donors, board members, partners,and staff who truly make our work possible. We are tremendously grateful for your commitment toInversant and our con nued growth. We are excited to have you all along on our journey and we cannotwait to see where the next year takes us!Sincerely,Robert HildrethChairman of the BoardCharlie DesmondChief Execu ve Officer
Who We AreOur MissionInversant’s mission is to ensure that through parentalengagement every low-to-moderate income familyhas the resources and understanding they need toachieve their goals for higher educa on.Our PartnersSalem:Salem Public SchoolsLynn:Kipp Academy Lynn CollegiateLa Vida ScholarsRevere:Revere Public SchoolsChelsea:Chelsea Public SchoolsBoston:Boys & Girls Clubs of BostonBU Upward BoundNeighborhood House Charter SchoolTrinity Educa on for Excellence Program
Our FormulaSaving SupportInversant meets familieswhere they are withconvenient loca ons,different languageop ons, and an onlineportal to create acommunity with highereduca on aspira ons.Inversant places a hugeimportance on openinga Children’s SavingsAccount to save early ando en in order to investin higher educa on. College Success! LearningOur Monthly LearningCircle topics includeCollege Op ons, Costs,Applica ons, and Typesof Financial Aid.86% of Inversant studentsenroll in higher educa on,compared to the 69%na onally and 60%from BostonPublic Schools.
Our Impact Since 20091,200FAMILIES480 STUDENT ALUMNI ENROLLED INHIGHER EDUCATION1,300 2,000,00089%65 IN SAVINGS & MATCHCOLLEGE ACCOUNTSOF STUDENT ALUMNICOLLEGE GRADUATESARE PERSISTING INHIGHER EDUCATION73%of Inversant studentsgraduatein 4 years at a 4 year college38%vsof studentsNa onwide35%of students fromBoston Public Schools
Family SpotlightNatalia Nivar & Krystal Veras - La Vida ScholarsKrystal is a part of our program partner, La Vida Scholars, which helps high-achieving youths in Lynn get intoselec ve colleges affordably. Krystal’s mom, Natalia, a ended our workshops every month while Krystal worked oncollege essays and scholarship applica ons.“I learned about everything I needed to help prepare Krystal and myself. I even went on college visits with her,something I never imagined I would do. I especially liked the planning piece because we knew what we had to doevery year during her high school career. We learned about the en re process together.”When college acceptances began to come one a er another, she was excited about being accepted, apprehensiveabout financial award le ers and annoyed about late decision release mes, but there was always one that she washolding out for: Princeton, her dream school. When she saw that she had been accepted, she immediately burst intotears and called her mom at work.“Having programs like Inversant shows that families with my background can make it. My goal wasn’t toa end Princeton; it was to a end a school that was greater than what was expected of me.”
Family SpotlightTrawalley Family - KIPP Academy Lynn“When Mustapha was younger he told me he wanted to be a doctor. I told him that to be a doctor youneed to go to college. So that’s when I thought to myself that I had to find a way to help my kids go tocollege to make their dreams come true.”Sarjo, a father of three children joined the Inversant program in 2014 for his children, Mustapha andBubacarr, a er learning about it at KIPP Academy Lynn. His family came from Gambia, West Africa, toprovide their children with the best educa on possible. However, with no knowledge on how to navigatethe system, Sarjo looked for opportni es like Inversant.Sarjo tells us that learning about financial aid such as loans and scholarships has been mosthelpful to him.“The facilitators teach everything you need to know from the start, it’s like reading a bookwith topics that are relavant to you that makes you want to keep reading.”Mustapha is now a freshman at Carleton College in Minnesota where he was awarded a scholarship of 64,000 per year. He is s ll interested in becoming a doctor and is majoring in Psychology.
Our FamiliesHousehold % 30,00024%47%OtherCaucasian 30,000 to 50,000 50,00029%AsianParent Educa onLanguage1%17%21%High school degree orGEDSome college12%21%Less than a high schooldegree29%Associate's degree (2yr)Bachelor's degree (4yr)9%SpanishEnglish39%51%Hai anCreoleOther
Our Board & Financials2016 Board of Directors2016 Board of AdvisorsMeghan Burke, Mintz LevinRobert Cashman, Metro Credit UnionJaidip Chanda, State Street Global AdvisorsJohn Connolly, 1647Sally Currier, Schools for Children, IncMichael Douvadjian, UBS FinancialLarry Fish, Fish Family Founda onRobert Hildreth, ChairAna Julia Jatar-Hausmann, Más MediaWinston Langely, University of Massachuse s BostonRuth Moorman, Boston UniversityEdvaldo Morata, Eneas Alterna ve InvestmentsRichard Reidy, Boston UniversityFernando Reimers, Harvard Graduate School of Educa onJon Rotenberg, Eastern Yacht SalesStacy Sco , Framingham Public SchoolMichael Taylor, Urban College of BostonGladys Vega, Chelsea Collabora veG.L. (Peter) Alcock, MA State College Building AuthorityDean Atkins, NorthBridge CRE AdvisorsJoan Becker, University of Massachuse s BostonHardin Coleman, Boston University School of Educa onJay Halfond, Boston UniversityAnne Hildreth, Bank of America Private Wealth ManagementJackie Jenkins-Sco , Wheelock CollegeBridget Terry Long, Harvard Graduate School of Educa onMargaret McKenna, Suffolk UniversityJ. Keith Motley, University of Massachuse s BostonLouise Packard, Trinity Boston Founda onMichael Reardon, Catholic Schools Founda onMarie St. Fleur, Bessie Tar Wilson Ini a ve for ChildrenMargaret Daniels Tyler, The Tyler Group LLCStatement of Ac vi esStatement of Financial Posi onRevenue SupportContribu onsDonated ServicesInterest IncomeTotal Revenue 1,108,303 47,519 16,379 1,172,201AssetsCurrent AssetsNet Property & EquipmentOther AssetsTotal Assets 183,339 28,773 319,855 531,967ExpensesProgram ServicesSuppor ng ServicesTotal ExpensesChange in Net Assets 875,002 237,595 1,112,597 59,604Liability & Net AssetsCurrent Liabili esNet AssetsTotal Assets & Liabili es 323,965 208,002 531,967
DonorsCorpora ons & Founda ons1:1 FundAmelia Peabody Founda onThe Boston Founda onBunker Hill Community CollegeBushrod H. Campbell and Adah F. Hall Charity FundCapital Partners LLCCataldo AmbulanceCharles Hayden Founda onChelsea Community FundChelsea NorthCommunity Workshops Inc.Corpora on for Enterprise Development (CFED)Cummings Founda onDistrigasEast Cambridge Savings BankEastern MineralsFoley & Lardner, LLPForest Founda onGlobal Oil Partners LPThe Gustavo Posse Founda onHighland Street Founda onHildreth Stewart Charitable Founda onKayem FoodsKiwanis Club of ChelseaLinde Family Founda onLloyd G. Balfour Founda on, Bank of America, NA, TrusteeMassachuse s Educa on Opportunity Associa onMetro Credit UnionThe Mifflin Memorial FundMove the World Founda onOlivia's OrganicsPannell Family Charitable FundPaul & Edith Babson Founda onPeter Condakes Co. Inc.The Philanthropic Ini a veRotary Club of SalemSantander Consumer USA Inc.Simboli Proper esStaples Founda on, Inc.Sykes Moyer FundTalent Search (US DOE Grant)Thibeault Development LLCUBS 10,000 - 25,000AnonymousSally CurrierRichard Reidy 2,500 - 9,999Jaidip ChandaMichael DouvadjianLarry FishBen HildrethAna Julia JatarWinston LangleyRuth MoormanEd MorataJon Rotenberg 500 - 2,499Peter (G.L.) AlcockDean AtkinsJanet BaileyJoan BeckerMeghan BurkeRobert CashmanCharles DesmondPaul FarsaiThomas FeeleyRoy & Sylvia HammerLynn HerivauxAnne HildrethRichard HildrethKristen KelchRonald MolloyJoe & Eileen MuellerIvy NagahiroBatya NatanStacy ScoJeremy SeegerMichael TaylorMichael TuteurWalter Wright 100 - 499Tom AmbrosinoLaura AssadeStephanie BaressiCharlene BauerStephen BruneauAlberto CalvoChih-Wei ChiuChris DayKaren EngelbourgPaul FonteynJames & Marla GreenfieldSue GallantJay HalfondSteven HallMelanie HamblenDenis HamboyanClifford JaneyCarol KelleyJulie LammersSarah & Steven LevyElliot & Lenore LobelClaudio Mar nezGerald McCue
Donors & How to HelpAlexander & Frederick McFerranPatricia MeserveyEva MillonaAus n MirasoloSheila MolinariAna Patricia MunozSco NicholsLouis & Elenne NajarianLouise PackaardMichael ReardonRiordan RoeDoug & Mary SearsMichael & Ellen SandlerLisa & Steve ShapiroLou & Amanda ShipleyPaul TonerGladys VegaCarol WallaceJanet WuSindy Yeh 1 - 99Tracy AguilaTina AluNahiomy AlvarezTimothy AndersonDaniel AranizAna BaldridgeRachel BergerJeremy BerkElizabeth CarballoJose Cas lloSharon CaulfieldRob ChiacchioIsabel CorngoldClaire DaleyBuzz & Susan Dimar noNorma DinnallRick FredkinJamie HoyGeorge & Linda KingsleyCris an LopezOrlando LopezLauren Pie eAlison RogersteJim Sache aLisa SantagateLan-Shuan ShuangYiming ShuangStefani SkuroElizabeth SpainMyky TranSco TroppyJulie YehAllison ZacariasDave Zagunis3 Ways to Support:1Share Our @Inversant2MakeanIndividual Dona on3BecomeaCorporate Sponsor
“I always tried my best to save li le by li le and itpaid off. It’s helped me cover expenses I didn’tsee coming. I don’t have any goods for her toinherit from me but I know she’ll have an educaon that no one can take away from her.- Taverez Family, La Vida Scholars”“My parents knew that I wanted to go to collegebut didn’t know what that process looked like.With the program, my dad was always on myback about finishing applica ons and submi ngthings in me. It was nice to have their support.- Gross Family, KIPP Academy Lynn”“It’s so important to start saving early on and thematches were a great incen ve. With Inversant Iwas able to work together with my daughter tosave for college as well as learn about the process.-Daniels Family, Boys & Girls Clubs of Boston”“I wanted my kids to go to college but I didn’tknow what steps to take to get them there. I’mthankful for having Inversant as a support system,pushing me to save.- Gu errez Family, La Vida Scholars”561 Boylston Street, Boston, MA 02116 Phone: (617) 423-0331 Email: info@inversant.org
Statement of Acvies Statement of Financial Posion Our Board & Financials. 10,000 - 25,000 Anonymous Sally Currier Richard Reidy . Elliot & Lenore Lobel Claudio Marnez Gerald McCue Donors. 3 Ways to Support: 1 - 99 Tracy Aguila Tina Alu . Orlando Lopez Lauren Pie e Alison Rogerste J
