2018 annual report - inversant · 2020. 4. 13. · dean atkins meghan burke stephen and janeen...
TRANSCRIPT
2018 annual report
dear friends, Partnerships and community are at the core of Inversant. We believe a student’s educational success is supported by those around them – their parents, school, and community – this is why Inversant was founded. In 2018, we gained momentum from several partnerships that were built in 2017, including with the State Treasurer’s Office, several cities across the Commonwealth, and local foundations. Building upon our partnership with the State Treasurer’s Office, our Founder and Board Chair, Bob Hildreth, helped to fund and establish the BabySteps Savings Plan (formerly SeedMA Baby). The BabySteps Savings Plan, beginning in January 2020, will provide a $50 seed deposit into a U.Fund 529 college savings account for every baby born or adopted in MA. This program is the first state-wide Children’s Savings Account (CSA) program for Massachusetts. The benefits of CSAs are clear:
· Children with college savings of as little as $1-499 are three times more likely to attend college and four times more likely to graduate · Children with college savings have greater college expectations and are more likely to see themselves as college-bound Also this year, Inversant was one of 33 local nonprofits awarded a total of $10 million from the Cummings Foundation through its new Sustaining Grants program, which provides funding for up to 10 years. This grant allowed Inversant to expand the CSA movement in Massachusetts by adding our unique parental engagement curriculum to 5 cities through the spring of 2019: Haverhill, Lowell, Springfield, Worcester, and Pittsfield along with our core programs in Boston, Chelsea, Salem, Lynn, and Revere.
This partnership is transformative for Inversant and will allow us to continue to deeply engage with parents and work with them to achieve their aspirations of higher education for their children.
These achievements are possible because of your continued support of our work and mission. There is more work to do in 2019, and we look forward to keeping you updated, inspired, and engaged with Inversant.
Sincerely,
Charles Desmond Robert Hildreth Chief Executive Officer Chair, Board of Directors
Pictured left to right: Charles Desmond, Treasurer of Massachusetts, Deb Goldberg, Robert Hildreth, and Inversant Director of Programs, Rochelly Araniz, celebrating the launch of the SeedMA Baby program.
inversant is the largest parent-centered children’s saving account initiative in the commonwealth.
Through our effective combination of savings incentives, financial savvy, and ongoing support, families become “conversant” (knowledgeable) and fully engaged in what it takes to apply to, pay for, and succeed
in higher education. Ultimately this shared investment and expanded understanding moves not just the child, not just the family, but the whole community, forward.
our programs
Current program sites:
Inversant bostonBoys & Girls Club of Boston, Yawkey Club of RoxburyCamp Harbor ViewTrinity Education for Excellence Program
chelseaChelsea Public Schools
lynnKIPP Academy Lynn CollegiateLa Vida Scholars
revereRevere Public Schools
salemSalem Public Schools
SoarMA haverhill Consentino Middle School
lowellStoklosa Middle School
pittsfieldReid Middle School
springfieldSouth End Middle School
worcesterWorcester East Middle School
75% of Inversant students return to
college after their first year
vs 67.8%of students nationwide
6-year persistence rates at 4-year colleges
“As a parent, you have fears and anxiety around your children reaching higher education, especially when you did not attend college yourself. Inversant gave me the opportunity to learn more about how the college process works. The
workshops walked us through the information in a way that was digestible and made sense. In addition, as a parent I always felt supported and knew I
could reach out if I had any questions. To me, Inversant means knowledge, it means obtaining all the tools necessary to feel confident as a parent in helping
your children succeed. I am very grateful for the program.”
– Martina Alvarado, Inversant Parent • Chelsea High School
“As a single father of two, trying to navigate the college application process seemed overwhelming. I did not attend college myself, so the guidance I received from the Learning Circles and advice from my fellow parents, was invaluable. I have now completed the program with both of my children, and I can definitely say it has made a huge difference. Without Inversant’s guidance and matched savings, college may not have been possible for my children. I’m happy to say that my youngest son, Nicholas, will be attending Commonwealth Honors College at UMass Amherst this fall and will major in Chemical Engineering. Inversant made our dreams of achieving higher education possible.”
– William Capra, Inversant Parent • Salem High School
“Our Learning Circle facilitator walked us step-by step through college applications, financial aid, and subsidized versus unsubsidized loans. As immigrants from Jamaica, I loved hearing other parents’ experiences and getting tips from them on navigating the college process. I have an older son who attended Syracuse, but going through the process with Adonis was different. I wish I had the knowledge then that I do now about sending a child to college. We were so excited when Adonis was awarded a Posse Scholarship to attend Centre College. Seeing your child fulfill their higher education dreams is what makes it all worth it.”
– Nadine Logan, Inversant Parent • Boys and Girls Club, Boston
650+ learning circles
600+ inversant alumni enrolled in
higher education
1,400 inversant families
10 sites across
massachusetts
1,800 savings
accounts established$2.6M
savings + match
130 students
graduated from college
what you have made possible since 2009
special thanks to our supporters
Corporations and Foundations1:1 Fund Acadian Asset ManagementAlternative Therapies Group, Inc.Amazon Smile FoundationAmelia Peabody FoundationBunker Hill Community CollegeBushrod H. Campbell and Adah F. Hall Charity FundCabot Family Charitable TrustCataldo AmbulanceCell Signaling Technology Charles Hayden FoundationChelsea Community FundColwen HotelsPeter Condakes CompanyCox TrustMarion L. Decrow Memorial Foundation Distrigas, ENGIEEast Cambrige Savings Bank Eastern Minerals Forest Foundation Global Oil (Global Companies L.L.C.) Henry Miles FoundationHighland Street FoundationHildreth Stewart Charitable FoundationHomewood Suites Kayem Foods Keurig Kiwanis Club of ChelseaLewis Family Foundation Linde Family FoundationLloyd G. Balfour Foundation, Bank of America, NA
Metro Credit Union Move the World FoundationPannell Family Charitable FundQuality BeverageRMR GroupPaul & Edith Babson FoundationSalem Five Charitable FoundationSantander Consumer USA, Inc.The Boston FoundationThe Cummings FoundationThe Gustavo Posse FoundationTalent Search Tufts Health Plan FoundationUBS
$10,000 and aboveJanet BaileySally CurrierRosalind HillRuth MoormanRichard ReidyCity of Salem
$2,500-$9,999Dean AtkinsMeghan BurkeStephen and Janeen CasellaRobert CashmanJaidip ChandaLaurent DeGreefMichael DouvadjianLarry FishJulio FuentesRobert and Linda GlassmanBen and Meaghan HildrethWinston Langley
Arthur MabbettBernadette RehnertJon Rotenberg
$500-$2,499Anonymous Chet AtkinsJanet BaileyHardin ColemanMarc and Katherine DeshaiesCharles DesmondMichael DouvadjianThomas FeeleyNewell FlatherJoe & Lynne GoodmanSylvia HammerAnne HildrethRichard HildrethPeter HulbertGenevieve and Larry KeeneWendell KnoxCharles KravetzRichard LangGeorge LeiserKimberly MacInnisGerald McCue and Sheila MolinariOscar MalcolmBen MoyerJoe and Eileen MuellerIvy NagahiroJohn PitcherJamie Rome & Leila MankariousHakan SatirogluEileen SchaubertJeremy SeegerAlan Solomont
Ed & Lynn TaffMichael TaylorMichael TuteurWalter WrightRobert Zaccardi
$50-$499Bahar Akman ImbodenTina AluTom AmbrosinoTimothy AndersonDaniel and Rochelly AranizJay AshMary BaldwinMari BarreraCharlene BauerBarney BrawerStephen BruneauSharon CaulfieldChih-Wei ChiuHardin ColemanBeata ColoyanRichard CuthieMatthew and Cara DeshaiesMarissa DesmondLeslie EpsteinAngela ErvinDayna ErvinGloria ErvinDaylana Ervin-ParkerChristina ErvingMargaret FarmerSue GallantKeenan GroomsSteven HallCara Havey
Anne HildrethRichard HolzmanMary HullJohn HupaloClifford JaneyRobert & Jeanne JoyGeorge KingsleyMarilyn KuharPaul LaCameraSaeyun LeeBrian LenihanElliot & Leonre LobelBridget Terry LongPatricia MarshallAlexander McFerranPatricia MeserveyRonnie MillarLuz MirandaRyan MurphyLouis and Elenne NajarianRobert PinskyFernando ReimersLorna RiveraRiordan RoettMichael and Ellen SandlerStacy ScottPatricia SimboliLou & Amanda ShipleyDonna StewartsonJoan SullivanSandra WhitleyGladys VegaDavid Zagunis
Our families have big dreams for their children’s education.
Your gift will allow them to make those dreams come
true by providing them with invaluable information
about the college process, a strong support network, and
matching their savings for higher education.
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617-423-0331
our financials
Board of DirectorsRobert Hildreth, Chair of the Board Dean AtkinsMeghan BurkeRobert CashmanJaidip ChandaSally CurrierLaurent De Greef Michael DouvadjianLarry Fish Benjamin Hildreth Winston LangleyRuth MoormanEdvaldo MorataRichard ReidyFernando ReimersJon RotenbergDr. Stacy ScottMichael TaylorGladys Vega
Board of AdvisorsKaren Alba G.L. (Peter) AlcockJanet Bailey Joan BeckerHardin Coleman Angela ErvinWilliam Estrada Jay HalfondAnne Hildreth Roz HillJackie Jenkins-Scott Saeyun LeeBridget Terry LongPatricia Marshall Margaret McKennaOscar F. MalcolmJ. Keith MotleyLouise Burnham PackardMichael ReardonDonna Stewartson Marie St.FleurMargot Daniels Tyler Mia Yee
our board
Statement of Activities
Revenue SupportContributionsDonated ServicesFundraising RevenueTotal Revenue
ExpensesProgram ServicesSupporting ServicesTotal ExpensesChange in Net Assets
$1,033,417 $20,119 $25,000
$1,078,536
$925,571 $225,919
$1,151,490$(72,954)
Statement of Financial Position
Assets Current AssetsNet Property & EquipmentTotal Assets
Liability & Net AssetsCurrent LiabilitiesNet AssetsTotal Assets & Liabilities
$157,198$27,959
$185,157
$2,164 $182,993$368,150
$1,000,000
Long-term Financial Planning
Endowment
561 Boylston Street, 4th floor · Boston, MA 02116 | 617-423-0331 | inversant.org