Civic Intelligence

Live the Solution DBA Earn to Learn

990 • Fiscal year 2020 • EIN 26-1151754

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 12, 2020

4803 E 5th StreetTucson, AZ 85711

(877) 260-7369

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.27x

Higher debt load relative to assets than 68% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

45th percentile

0.11x

Higher debt load relative to revenue than 45% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

79th percentile

27%

Higher net margin than 79% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

78th percentile

$124,701

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

80th percentile

32%

Faster asset growth than 80% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

88th percentile

60%

Faster revenue growth than 88% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$984,133

Up $768,612 (+357%) from 2019

Net Assets

Up

$715,955

Up $673,704 (+1595%) from 2019

Liabilities

Up

$268,178

Up $94,908 (+55%) from 2019

Revenue

Up

$2,470,557

Up $1,484,969 (+151%) from 2019

Expenses

Up

$1,796,853

Up $889,912 (+98%) from 2019

Net Income

Up

$673,704

Up $595,057 (+757%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2014: $322,791Liabilities 2014: $215,768Net Assets 2014: $107,0232014Assets 2017: $414,851Liabilities 2017: $369,759Net Assets 2017: $45,0922017Assets 2018: $241,666Liabilities 2018: $278,062Net Assets 2018: -$36,3962018Assets 2019: $215,521Liabilities 2019: $173,270Net Assets 2019: $42,2512019Assets 2020: $984,133Liabilities 2020: $268,178Net Assets 2020: $715,9552020Assets 2021: $1,535,362Liabilities 2021: $757,012Net Assets 2021: $778,3502021Assets 2022: $1,520,370Liabilities 2022: $499,837Net Assets 2022: $1,020,5332022Assets 2024: $4,244,955Liabilities 2024: $1,313,519Net Assets 2024: $2,931,4362024

Highlighted filing

2020

Assets$984,133
Liabilities$268,178
Net Assets$715,955

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $560,598Expenses 2014: $554,784Net Income 2014: $5,8142014Revenue 2017: $1,083,932Expenses 2017: $1,160,537Net Income 2017: -$76,6052017Revenue 2018: $996,617Expenses 2018: $1,078,105Net Income 2018: -$81,4882018Revenue 2019: $985,588Expenses 2019: $906,941Net Income 2019: $78,6472019Revenue 2020: $2,470,557Expenses 2020: $1,796,853Net Income 2020: $673,7042020Revenue 2021: $2,450,878Expenses 2021: $2,388,483Net Income 2021: $62,3952021Revenue 2022: $3,231,880Expenses 2022: $2,989,697Net Income 2022: $242,1832022Revenue 2024: $3,506,219Expenses 2024: $4,264,346Net Income 2024: -$758,1272024

Highlighted filing

2020

Revenue$2,470,557
Expenses$1,796,853
Net Income$673,704
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 12, 2020
Return Version
2019v5.0
Gross Receipts
$2,470,915
Mission and Program Overview

Mission

Earn to Learn empowers low-to-moderate income students to successfully complete college. We do this through: -Matched savings scholarships -Financial capability education -College and Workforce Readiness Training -Success coaching -Mentoring

Earn to learn empowers low-to moderate-income students to successfully complete postsecondary education. Earn to learn accomplishes this mission through an innovative, four-pillar approach to financial preparation including: - matched savings scholarships - success coaching & near-peer advising - financial capability education - workforce development

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$79,723$721,969▲ $642,246
Cash and Non-Interest-Bearing Accounts$134,298$260,664▲ $126,366
Prepaid Expenses and Deferred Charges$1,500$1,500→ $0
Total Assets$215,521$984,133▲ $768,612
Liabilities
Accounts Payable and Accrued Expenses$73,592$251,873▲ $178,281
Mortgage Notes Payable Secured by Investment Property$99,678--
Other Liabilities-$16,305-
Total Liabilities$173,270$268,178▲ $94,908
Net Assets / Fund Balance
Net Assets With Donor Restrictions$175,000$707,274▲ $532,274
Net Assets Without Donor Restrictions$-132,749$8,681▲ $141,430
Total Net Assets Fund Balance$42,251$715,955▲ $673,704
Total Liabilities and Net Assets / Fund Balance$215,521$984,133▲ $768,612
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katherine L HoffmanExecutive DiFT$110,137$14,564$124,701

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,469,391
Program Service Revenue
$0
Investment Income
$1,524
Other Revenue
$-358
All Other Contributions
$2,220,389
Change in Net Assets
$673,704

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,470,557
Revenue Not Reported on Form 990
$89,018
Total Revenue per Audited Statements
$2,559,575
Total Revenue per Form 990
$2,470,557
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,008,057
Other Expenses$788,796
Total Fundraising Expense$144,055
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$594,375$28,827$65,757$688,959
Current Officers, Directors, Trustees, and Key Employees$100,115$36,406$45,507$182,028
Other Employee Benefits$64,827$2,623$5,967$73,417
Payroll Taxes$52,605$4,050$6,998$63,653
Fees for Services Accounting-$57,507-$57,507
Information Technology$15,569$10,741$5,863$32,173
Travel$13,726$1,467$2,390$17,583
Advertising$8,023$1,094$3,040$12,157
Office Expenses$6,639$3,132$2,308$12,079
Occupancy$10,562$156$163$10,881
Fees for Services Other$2,093$202$5,446$7,741
Interest$2,370$4,630-$7,000
Insurance-$3,627-$3,627
Fees for Services Management-$2,750-$2,750
Other Expenses$552$1,182$616$2,350
Fees for Services Legal-$2,000-$2,000
Total Functional Expenses$1,492,404$160,394$144,055$1,796,853

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,885,871
Expenses per Audited Statements$1,796,853
Total Expenses per Form 990$1,796,853
Expenses Not Reported on Form 990$89,018
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$358
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance- Ppp$16,305
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Governing body received completed 990 for review before filing.

Form 990, Page 6, Part VI, Line 12C

Annually, every board member is asked to sign a conflict of interest policy statement as well as complete a form which discloses certain personal and business relationships. Periodically, board members are also verbally reminded to disclose any potential conflicts.

Form 990, Page 6, Part VI, Line 15A

The board approves executive director and other compensation to be which it deems to be comparable to like positions in the area.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Earn to Learn
EIN
26-1151754
Phone
8772607369
Address
4803 E 5TH STREET, TUCSON, AZ 85711

Signing Officer

Name
Katherine L Hoffman
Title
Executive Director
Phone
8772607369
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Myers
Formed
2008
Legal Domicile
Az
Voting Board Members
12
Independent Board Members
12
Employees
78
Volunteers
230

Preparer

Firm
Ludwig Klewer & Rudner Pllc
Address
4783 E CAMP LOWELL DR, TUCSON, AZ 85712
Preparer
Julie S Klewer CPA
Phone
5205450500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Earn to learn empowers low-to moderate-income students to successfully complete postsecondary education. Earn to learn accomplishes this mission through an innovative, four-pillar approach to financial preparation including: - matched savings scholarships - success coaching & near-peer advising - financial capability education - workforce development

Form 990, Page 2, Part III, Line 4A

Overview: a national, innovative approach to financial aid is needed to increase post-secondary educational access and completion, especially for students from lower socio-economic backgrounds. A reduced borrowing initiative is critical considering the tremendous growth in national debt related to higher education borrowing. Established in 2013, earn to learn operates the largest and most successful matched-savings scholarship program in the country. It combines student savings with scholarships, financial education, and college success coaching to help low-to moderate-income and underrepresented students obtain a college education and graduate ready to enter the workforce with little or no student loan debt. Students and their families who income- qualify, deposit 500 into a savings account each year, which is then matched 8:1 through a public private funding model which brings the total available funds per student to 4,500 per academic year to further offset the cost of attendance and address any unmet need. The holistic approach is already showing promising results. Initial data demonstrates earn to learn's first-year retention rate approaching 90%. Over half of earn to learn students are first-generation college students, who often have difficulty financing college while also balancing the challenges of daily life. Earn to learn can be the difference between dropping out and earning a degree which may alter the course of their lives. Students are supported in graduating from college at rates well above the national average, with nearly half of these graduates avoiding any student loan debt. Those who do borrow are expected to carry much less debt than other borrowers. Earn to learn changes lives and opens the doors of higher education to those who may not otherwise have considered that they too could share the american dream of achieving advanced educational attainment. Background: "arizona is the first state in the country to implement a program like earn to learn to support students with matched college savings. "earn to learn is currently partnered in arizona with arizona state university, northern arizona university, university of arizona, maricopa community college district, pima community college and is planning to expand to the rural community colleges. "earn to learn is based on a public private funding model with a 60/40 split which launched in the 2019/2020 academic year. "the program has garnered attention from the governor's office under the umbrella of workforce development and they are providing additional programmatic support. "earn to learn may be considered a supplement to the federal pell grant program - helping students to further offset educational related expenses, effectively picking up where pell is falling short. The purchasing power of federal pell grants has fallen precipitously over the years. Program success: "earn to learn has already seen promising results including high first-year retention, persistence, and graduation rates. "the business community is increasingly aware of its stake in ensuring the success of their future employee pipeline, and states and communities want to attract and retain bright minds into their workforce. "over 2000 earn to learn students have enrolled and successfully participated in the program. The target population includes traditional students from public, private and charter high schools who income qualify and are eligible for in-state tuition and federal financial aid; and community college transfer students are also eligible to participate if they income qualify and are eligible for instate tuition and federal financial aid. Early success metrics: "the breakdown of the program's annual overall first-year retention rate appears to be approaching 90% statewide since the program's launch in january of 2013. "earn to learn students have invested nearly 3.5m in their education and have earned an additional 28m in additional grant aid through the program's 8:1 match.

Form 990, Part XI, Line 9

Evening of honors expenses 358 evening of honors expenses -358

Financial Statement Notes

Schedule D, Page 3, Part X

The organization's policy is to disclose or recognize income tax positions based on management's estimate of whether it is reasonably possible or probable, respectively, that a liability has been incurred for unrecognized income tax positions. As of june 30, 2020, there were no uncertain tax positions that are potentially material. In addition, management is not aware of any matters which would cause the organization to lose its tax- exempt status.

Schedule D, Page 4, Part XI, Line 2D

Evening of honors expenses 358

Schedule D, Page 4, Part XII, Line 2D

Evening of honors expenses 358

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IRS990/Desc0OVERVIEW: A NATIONAL, INNOVATIVE APPROACH TO FINANCIAL AID IS NEEDED TO INCREASE POST-SECONDARY EDUCATIONAL ACCESS AND COMPLETION, ESPECIALLY FOR STUDENTS FROM LOWER SOCIO-ECONOMIC BACKGROUNDS. A REDUCED BORROWING INITIATIVE IS CRITICAL CONSIDERING THE TREMENDOUS GROWTH IN NATIONAL DEBT RELATED TO HIGHER EDUCATION BORROWING. ESTABLISHED IN 2013, EARN TO LEARN OPERATES THE LARGEST AND MOST SUCCESSFUL MATCHED-SAVINGS SCHOLARSHIP PROGRAM IN THE COUNTRY. IT COMBINES STUDENT SAVINGS WITH SCHOLARSHIPS, FINANCIAL EDUCATION, AND COLLEGE SUCCESS COACHING TO HELP LOW-TO MODERATE-INCOME AND UNDERREPRESENTED STUDENTS OBTAIN A COLLEGE EDUCATION AND GRADUATE READY TO ENTER THE WORKFORCE WITH LITTLE OR NO STUDENT LOAN DEBT. STUDENTS AND THEIR FAMILIES WHO INCOME- QUALIFY, DEPOSIT 500 INTO A SAVINGS ACCOUNT EACH YEAR, WHICH IS THEN MATCHED 8:1 THROUGH A PUBLIC PRIVATE FUNDING MODEL WHICH BRINGS THE TOTAL AVAILABLE FUNDS PER STUDENT TO 4,500 PER ACADEMIC YEAR TO FURTHER OFFSET THE COST OF ATTENDANCE AND ADDRESS ANY UNMET NEED. THE HOLISTIC APPROACH IS ALREADY SHOWING PROMISING RESULTS. INITIAL DATA DEMONSTRATES EARN TO LEARN'S FIRST-YEAR RETENTION RATE APPROACHING 90%. OVER HALF OF EARN TO LEARN STUDENTS ARE FIRST-GENERATION COLLEGE STUDENTS, WHO OFTEN HAVE DIFFICULTY FINANCING COLLEGE WHILE ALSO BALANCING THE CHALLENGES OF DAILY LIFE. EARN TO LEARN CAN BE THE DIFFERENCE BETWEEN DROPPING OUT AND EARNING A DEGREE WHICH MAY ALTER THE COURSE OF THEIR LIVES. STUDENTS ARE SUPPORTED IN GRADUATING FROM COLLEGE AT RATES WELL ABOVE THE NATIONAL AVERAGE, WITH NEARLY HALF OF THESE GRADUATES AVOIDING ANY STUDENT LOAN DEBT. THOSE WHO DO BORROW ARE EXPECTED TO CARRY MUCH LESS DEBT THAN OTHER BORROWERS. EARN TO LEARN CHANGES LIVES AND OPENS THE DOORS OF HIGHER EDUCATION TO THOSE WHO MAY NOT OTHERWISE HAVE CONSIDERED THAT THEY TOO COULD SHARE THE AMERICAN DREAM OF ACHIEVING ADVANCED EDUCATIONAL ATTAINMENT. BACKGROUND: "ARIZONA IS THE FIRST STATE IN THE COUNTRY TO IMPLEMENT A PROGRAM LIKE EARN TO LEARN TO SUPPORT STUDENTS WITH MATCHED COLLEGE SAVINGS. "EARN TO LEARN IS CURRENTLY PARTNERED IN ARIZONA WITH ARIZONA STATE UNIVERSITY, NORTHERN ARIZONA UNIVERSITY, UNIVERSITY OF ARIZONA, MARICOPA COMMUNITY COLLEGE DISTRICT, PIMA COMMUNITY COLLEGE AND IS PLANNING TO EXPAND TO THE RURAL COMMUNITY COLLEGES. "EARN TO LEARN IS BASED ON A PUBLIC PRIVATE FUNDING MODEL WITH A 60/40 SPLIT WHICH LAUNCHED IN THE 2019/2020 ACADEMIC YEAR. "THE PROGRAM HAS GARNERED ATTENTION FROM THE GOVERNOR'S OFFICE UNDER THE UMBRELLA OF WORKFORCE DEVELOPMENT AND THEY ARE PROVIDING ADDITIONAL PROGRAMMATIC SUPPORT. "EARN TO LEARN MAY BE CONSIDERED A SUPPLEMENT TO THE FEDERAL PELL GRANT PROGRAM - HELPING STUDENTS TO FURTHER OFFSET EDUCATIONAL RELATED EXPENSES, EFFECTIVELY PICKING UP WHERE PELL IS FALLING SHORT. THE PURCHASING POWER OF FEDERAL PELL GRANTS HAS FALLEN PRECIPITOUSLY OVER THE YEARS. PROGRAM SUCCESS: "EARN TO LEARN HAS ALREADY SEEN PROMISING RESULTS INCLUDING HIGH FIRST-YEAR RETENTION, PERSISTENCE, AND GRADUATION RATES. "THE BUSINESS COMMUNITY IS INCREASINGLY AWARE OF ITS STAKE IN ENSURING THE SUCCESS OF THEIR FUTURE EMPLOYEE PIPELINE, AND STATES AND COMMUNITIES WANT TO ATTRACT AND RETAIN BRIGHT MINDS INTO THEIR WORKFORCE. "OVER 2000 EARN TO LEARN STUDENTS HAVE ENROLLED AND SUCCESSFULLY PARTICIPATED IN THE PROGRAM. THE TARGET POPULATION INCLUDES TRADITIONAL STUDENTS FROM PUBLIC, PRIVATE AND CHARTER HIGH SCHOOLS WHO INCOME QUALIFY AND ARE ELIGIBLE FOR IN-STATE TUITION AND FEDERAL FINANCIAL AID; AND COMMUNITY COLLEGE TRANSFER STUDENTS ARE ALSO ELIGIBLE TO PARTICIPATE IF THEY INCOME QUALIFY AND ARE ELIGIBLE FOR INSTATE TUITION AND FEDERAL FINANCIAL AID. EARLY SUCCESS METRICS: "THE BREAKDOWN OF THE PROGRAM'S ANNUAL OVERALL FIRST-YEAR RETENTION RATE APPEARS TO BE APPROACHING 90% STATEWIDE SINCE THE PROGRAM'S LAUNCH IN JANUARY OF 2013. "EARN TO LEARN STUDENTS HAVE INVESTED NEARLY 3.5M IN THEIR EDUCATION AND HAVE EARNED AN ADDITIONAL 28M IN ADDITIONAL GRANT AID THROUGH THE PROGRAM'S 8:1 MATCH.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S POLICY IS TO DISCLOSE OR RECOGNIZE INCOME TAX POSITIONS BASED ON MANAGEMENT'S ESTIMATE OF WHETHER IT IS REASONABLY POSSIBLE OR PROBABLE, RESPECTIVELY, THAT A LIABILITY HAS BEEN INCURRED FOR UNRECOGNIZED INCOME TAX POSITIONS. AS OF JUNE 30, 2020, THERE WERE NO UNCERTAIN TAX POSITIONS THAT ARE POTENTIALLY MATERIAL. IN ADDITION, MANAGEMENT IS NOT AWARE OF ANY MATTERS WHICH WOULD CAUSE THE ORGANIZATION TO LOSE ITS TAX- EXEMPT STATUS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1EVENING OF HONORS EXPENSES 358
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EVENING OF HONORS EXPENSES 358
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EARN TO LEARN EMPOWERS LOW-TO MODERATE-INCOME STUDENTS TO SUCCESSFULLY COMPLETE POSTSECONDARY EDUCATION. EARN TO LEARN ACCOMPLISHES THIS MISSION THROUGH AN INNOVATIVE, FOUR-PILLAR APPROACH TO FINANCIAL PREPARATION INCLUDING: - MATCHED SAVINGS SCHOLARSHIPS - SUCCESS COACHING & NEAR-PEER ADVISING - FINANCIAL CAPABILITY EDUCATION - WORKFORCE DEVELOPMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OVERVIEW: A NATIONAL, INNOVATIVE APPROACH TO FINANCIAL AID IS NEEDED TO INCREASE POST-SECONDARY EDUCATIONAL ACCESS AND COMPLETION, ESPECIALLY FOR STUDENTS FROM LOWER SOCIO-ECONOMIC BACKGROUNDS. A REDUCED BORROWING INITIATIVE IS CRITICAL CONSIDERING THE TREMENDOUS GROWTH IN NATIONAL DEBT RELATED TO HIGHER EDUCATION BORROWING. ESTABLISHED IN 2013, EARN TO LEARN OPERATES THE LARGEST AND MOST SUCCESSFUL MATCHED-SAVINGS SCHOLARSHIP PROGRAM IN THE COUNTRY. IT COMBINES STUDENT SAVINGS WITH SCHOLARSHIPS, FINANCIAL EDUCATION, AND COLLEGE SUCCESS COACHING TO HELP LOW-TO MODERATE-INCOME AND UNDERREPRESENTED STUDENTS OBTAIN A COLLEGE EDUCATION AND GRADUATE READY TO ENTER THE WORKFORCE WITH LITTLE OR NO STUDENT LOAN DEBT. STUDENTS AND THEIR FAMILIES WHO INCOME- QUALIFY, DEPOSIT 500 INTO A SAVINGS ACCOUNT EACH YEAR, WHICH IS THEN MATCHED 8:1 THROUGH A PUBLIC PRIVATE FUNDING MODEL WHICH BRINGS THE TOTAL AVAILABLE FUNDS PER STUDENT TO 4,500 PER ACADEMIC YEAR TO FURTHER OFFSET THE COST OF ATTENDANCE AND ADDRESS ANY UNMET NEED. THE HOLISTIC APPROACH IS ALREADY SHOWING PROMISING RESULTS. INITIAL DATA DEMONSTRATES EARN TO LEARN'S FIRST-YEAR RETENTION RATE APPROACHING 90%. OVER HALF OF EARN TO LEARN STUDENTS ARE FIRST-GENERATION COLLEGE STUDENTS, WHO OFTEN HAVE DIFFICULTY FINANCING COLLEGE WHILE ALSO BALANCING THE CHALLENGES OF DAILY LIFE. EARN TO LEARN CAN BE THE DIFFERENCE BETWEEN DROPPING OUT AND EARNING A DEGREE WHICH MAY ALTER THE COURSE OF THEIR LIVES. STUDENTS ARE SUPPORTED IN GRADUATING FROM COLLEGE AT RATES WELL ABOVE THE NATIONAL AVERAGE, WITH NEARLY HALF OF THESE GRADUATES AVOIDING ANY STUDENT LOAN DEBT. THOSE WHO DO BORROW ARE EXPECTED TO CARRY MUCH LESS DEBT THAN OTHER BORROWERS. EARN TO LEARN CHANGES LIVES AND OPENS THE DOORS OF HIGHER EDUCATION TO THOSE WHO MAY NOT OTHERWISE HAVE CONSIDERED THAT THEY TOO COULD SHARE THE AMERICAN DREAM OF ACHIEVING ADVANCED EDUCATIONAL ATTAINMENT. BACKGROUND: "ARIZONA IS THE FIRST STATE IN THE COUNTRY TO IMPLEMENT A PROGRAM LIKE EARN TO LEARN TO SUPPORT STUDENTS WITH MATCHED COLLEGE SAVINGS. "EARN TO LEARN IS CURRENTLY PARTNERED IN ARIZONA WITH ARIZONA STATE UNIVERSITY, NORTHERN ARIZONA UNIVERSITY, UNIVERSITY OF ARIZONA, MARICOPA COMMUNITY COLLEGE DISTRICT, PIMA COMMUNITY COLLEGE AND IS PLANNING TO EXPAND TO THE RURAL COMMUNITY COLLEGES. "EARN TO LEARN IS BASED ON A PUBLIC PRIVATE FUNDING MODEL WITH A 60/40 SPLIT WHICH LAUNCHED IN THE 2019/2020 ACADEMIC YEAR. "THE PROGRAM HAS GARNERED ATTENTION FROM THE GOVERNOR'S OFFICE UNDER THE UMBRELLA OF WORKFORCE DEVELOPMENT AND THEY ARE PROVIDING ADDITIONAL PROGRAMMATIC SUPPORT. "EARN TO LEARN MAY BE CONSIDERED A SUPPLEMENT TO THE FEDERAL PELL GRANT PROGRAM - HELPING STUDENTS TO FURTHER OFFSET EDUCATIONAL RELATED EXPENSES, EFFECTIVELY PICKING UP WHERE PELL IS FALLING SHORT. THE PURCHASING POWER OF FEDERAL PELL GRANTS HAS FALLEN PRECIPITOUSLY OVER THE YEARS. PROGRAM SUCCESS: "EARN TO LEARN HAS ALREADY SEEN PROMISING RESULTS INCLUDING HIGH FIRST-YEAR RETENTION, PERSISTENCE, AND GRADUATION RATES. "THE BUSINESS COMMUNITY IS INCREASINGLY AWARE OF ITS STAKE IN ENSURING THE SUCCESS OF THEIR FUTURE EMPLOYEE PIPELINE, AND STATES AND COMMUNITIES WANT TO ATTRACT AND RETAIN BRIGHT MINDS INTO THEIR WORKFORCE. "OVER 2000 EARN TO LEARN STUDENTS HAVE ENROLLED AND SUCCESSFULLY PARTICIPATED IN THE PROGRAM. THE TARGET POPULATION INCLUDES TRADITIONAL STUDENTS FROM PUBLIC, PRIVATE AND CHARTER HIGH SCHOOLS WHO INCOME QUALIFY AND ARE ELIGIBLE FOR IN-STATE TUITION AND FEDERAL FINANCIAL AID; AND COMMUNITY COLLEGE TRANSFER STUDENTS ARE ALSO ELIGIBLE TO PARTICIPATE IF THEY INCOME QUALIFY AND ARE ELIGIBLE FOR INSTATE TUITION AND FEDERAL FINANCIAL AID. EARLY SUCCESS METRICS: "THE BREAKDOWN OF THE PROGRAM'S ANNUAL OVERALL FIRST-YEAR RETENTION RATE APPEARS TO BE APPROACHING 90% STATEWIDE SINCE THE PROGRAM'S LAUNCH IN JANUARY OF 2013. "EARN TO LEARN STUDENTS HAVE INVESTED NEARLY 3.5M IN THEIR EDUCATION AND HAVE EARNED AN ADDITIONAL 28M IN ADDITIONAL GRANT AID THROUGH THE PROGRAM'S 8:1 MATCH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING BODY RECEIVED COMPLETED 990 FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY, EVERY BOARD MEMBER IS ASKED TO SIGN A CONFLICT OF INTEREST POLICY STATEMENT AS WELL AS COMPLETE A FORM WHICH DISCLOSES CERTAIN PERSONAL AND BUSINESS RELATIONSHIPS. PERIODICALLY, BOARD MEMBERS ARE ALSO VERBALLY REMINDED TO DISCLOSE ANY POTENTIAL CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD APPROVES EXECUTIVE DIRECTOR AND OTHER COMPENSATION TO BE WHICH IT DEEMS TO BE COMPARABLE TO LIKE POSITIONS IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6EVENING OF HONORS EXPENSES 358 EVENING OF HONORS EXPENSES -358
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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