The Elevation Foundation Transforming Central Florida’s Distressed Communities
ELEVATION FINANCIAL GROUP Central Florida private equity firm Founded in 2006 to transform distressed communities Focused on providing safe, clean and affordable housing throughout Southeast Has provided above market returns to investors Launched Foundation in 2014 to increase social impact Provided over $1.2M in funding for Foundation
The Elevation Foundation, Inc. Independent, 501 (c) 3, public charity Independent board (zero EFG staff) EFG remains largest donor: 36% of current budget
Private equity mindset, applied to philanthropy Seeking largest philanthropic ROI for every dollar invested Rigorously measures results 90% of investment targeted at Central Florida
THE OPPORTUNITY
CENTRAL FLORIDA’S
Most Distressed Neighborhoods Population
Minority Share % Adults w/o High School Diploma Poverty Rate % of Adults not Working Housing Vacancy Rate Median Income Ratio Distress Rank within State Total Number of Zips in State
https://eig.org/dci/2018-dci-map-national-zip-code-map
CENTRAL FLORIDA’S
Most Distressed Neighborhoods Population
Minority Share % Adults w/o High School Diploma Poverty Rate % of Adults not Working Housing Vacancy Rate Median Income Ratio Distress Rank within State Total Number of Zips in State
https://eig.org/dci/2018-dci-map-national-zip-code-map
CENTRAL FLORIDA’S
Most Distressed Neighborhoods Population
Minority Share % Adults w/o High School Diploma Poverty Rate % of Adults not Working Housing Vacancy Rate Median Income Ratio Distress Rank within State Total Number of Zips in State
https://eig.org/dci/2018-dci-map-national-zip-code-map
CENTRAL FLORIDA’S
Most Distressed Neighborhoods Population
Minority Share % Adults w/o High School Diploma Poverty Rate % of Adults not Working Housing Vacancy Rate Median Income Ratio Distress Rank within State Total Number of Zips in State
https://eig.org/dci/2018-dci-map-national-zip-code-map
CENTRAL FLORIDA’S
Most Distressed Neighborhoods Population
Minority Share % Adults w/o High School Diploma Poverty Rate % of Adults not Working Housing Vacancy Rate Median Income Ratio Distress Rank within State Total Number of Zips in State
https://eig.org/dci/2018-dci-map-national-zip-code-map
Central Florida’s Most Distressed Neighborhoods 32805 Population
22,020
Minority Share
87.3%
% Adults w/o High School Diploma 25.4% Poverty Rate
38.6%
% of Adults not Working
41.2%
Housing Vacancy Rate
13.8%
Median Income Ratio
48.6%
Distress Rank within State
53
Total Number of Zips in State
920
Alyssa Wilson Top 1% of class Freshman at Duke University Major: Public Health
Joe Williams Senior VP of Strategic Planning https://eig.org/dci/2018-dci-map-national-zip-code-map
Central Florida’s Most Distressed Neighborhoods 32808 Population
Minority Share
51,510
86.1%
% Adults w/o High School Diploma
22.7%
Poverty Rate
29.2%
% of Adults not Working
31.1%
Housing Vacancy Rate
11.9%
Median Income Ratio
66.3%
Distress Rank within State
126
Total Number of Zips in State
920
Schanika Pierre Top 2% of class Sophomore at Wake Forest University Major: Psychology
Monica Taffinder, M.A., M.A. Owner https://eig.org/dci/2018-dci-map-national-zip-code-map
Central Florida’s Most Distressed Neighborhoods 32839 Population
Minority Share
51,710
79.5%
% Adults w/o High School Diploma
20.7%
Poverty Rate
25.8%
% of Adults not Working
29.6%
Housing Vacancy Rate
15.4%
Median Income Ratio
66.3%
Distress Rank within State
177
Total Number of Zips in State
920
https://eig.org/dci/2018-dci-map-national-zip-code-map
Revel Lubin Top 7% of class Senior at University of Florida Major: Political Science / Pre – law
Central Florida’s Most Distressed Neighborhoods 32807 Population
Minority Share
31,890
67.3%
% Adults w/o High School Diploma
22.1%
Poverty Rate
23.0%
% of Adults not Working
31.1%
Housing Vacancy Rate
9.8%
Median Income Ratio
72.3%
Distress Rank within State
177
Total Number of Zips in State
245
https://eig.org/dci/2018-dci-map-national-zip-code-map
Laura Alhasnawi Top 2% of class Freshman at Wake Forest University Major: Pre-med
Central Florida’s Most Distressed Neighborhoods 32773 Population
Minority Share
30,350
50.9%
% Adults w/o High School Diploma
10.4%
Poverty Rate
21.0%
% of Adults not Working
33.1%
Housing Vacancy Rate
22.1%
Median Income Ratio
80.7%
Distress Rank within State
263
Total Number of Zips in State
245
https://eig.org/dci/2018-dci-map-national-zip-code-map
Desiree Wolf Top 5% of class Senior in high school Top three dream schools: FSU, Wake Forest, University of Chicago Intended Major: Social work
THE ELEVATION SCHOLARS PROGRAM
Targets high need, high performers
Currently active in five area high schools Success Metrics: Amount of financial aid and scholarships awarded to our students
THE ENVISIONED FUTURE What is the vision if we are able to successfully address the problem of under matching in Central Florida’s schools? Hundreds of millions of dollars in economic impact flowing into our community’s most distressed neighborhoods!
Too good to be true? Let us show you!
HISTORY/SCOPE Began operations in 2014 with one student at one area high school Currently serving 150+ students at five area high schools 20 Elevation Scholars (our highest award) currently attending college 17 award winners currently being coached through college admissions as high school seniors
All schools 9-12 grades
Fellow & Friends
Monthly after school program College access focused Offers high value boot camp to juniors
Some schools 9-12 grades Student led
Club
Regular meetings Service projects
Rigorous application process
Scholars
Screen for leadership, kindness, service and discipline Long-term investment made in winners
IN SCHOOL PROGRAMMING Purpose: Equip all who attend and identify potential Scholars – Increase applicant quality and quantity
SCHOLAR PROFILE ACADEMIC
FAMILY
77% Immigrant 3.77 Unweighted GPA
74% ESL
4.61 Weighted GPA
83% First to attend college
Top 3% Class rank
4.5 Household size
$37,000 Family income
OPPORTUNITY High performing, economically disadvantaged students
Current Reach
Full Opportunity
ORANGE COUNTY
ORANGE COUNTY
OSCEOLA COUNTY
SEMINOLE COUNTY
150
1026
675
511
IS ANYONE ADDRESSING THESE PROBLEMS? 1 Elevate Orlando Provides leadership development and post secondary guidance at Title 1 schools in Orange County. Average student has 2.0 GPA. Targets Community College, military, vocational education as well as four year degree.
Does not focus on high performers
2 Support Our Scholars Grants $10,000 scholarships to our target student. Includes mentoring team to support student. Engagement begins at high school graduation.
Does not provide any guidance on college admissions
3 Questbridge National organization working virtually. Accepts very low percentage of students who apply. Applications accepted during Senior year. Does not coach or prepare students; works with students who meet very high standards. Serves fewer than 500 students each year in entire nation
CONTRASTED OUTCOMES Enrollment
Low-income students’ national immediate college enrollment
Persistence
Six-year graduation rate for all lowincome students
Enrollment
Average debt for low-income college graduate
67%
50.7%
$31,200
VS
VS
VS
Elevation Scholars
Elevation Scholars = 0 college dropouts after five years
100%
100%
Elevation Scholar on track to graduate with
<$5,000 in debt
1 https://nces.ed.gov/programs/coe/indicator_cpa.asp 2 https://1k9gl1yevnfp2lpq1dhrqe17-wpengine.netdna ssl.com/wpcontent/uploads/2014/09/ThePell Partnership_EdTrust_20152.pdf 3 The Institute for College Access & Success. 2014. Quick Facts about Student Debt. http://bit.ly/1lxjskr.
PROGRAM MODEL
College Success
AWARD
Preparation for transition to college
College Admissions
Year 1
Support during transition monthly support by phone
Award given in junior year
Funds to prevent dropout, i.e. stipend, travel home, clothing, family visits
Admissions coaching, test prep, college trips, Horizon Events, financial aid and scholarships
College selection crucial to ultimate success
Support with family concerns
Central Florida internships drawing Scholars back home for their careers
Cost = $6,000 Historic Outcomes = College admissions and full scholarship, last yearâ&#x20AC;&#x2122;s average package was $249,853
Year 2-5
Cost = $14,000 Expected Outcomes = Graduation and fulfilling employment, hopefully in Central Florida
Total Cost per Scholar = $20,000 over Five Years
POTENTIAL IMPACT ON LIFETIME INCOME Lifetime Income: Scholars vs. Non-Scholars $35,00,000 $30,00,000 $25,00,000
Scholars Delta
$3,065,111 $2,665,580
$20,00,000
$1,688,490
$15,00,000
$1,376,621
$10,00,000 $5,00,000 $-
Scholar Average
Average college grad
Without Scholars
OPPORTUNITY TO SCALE Projected Growth of Scholars Program 180
165
160 140
# of Awards
123
120
$1.5M annual budget (currently $600k) 165 Scholars in the program
100
88
80 60
59
57 47
40 20
This Would Mean
35
34 17 11
18
$280M in potential lifetime economic impact
24
0 2017
2018
2019
2020
Total # of Scholars
$10.8M in scholarships and financial aid annually
2021
2022
OPPORTUNITIES FOR INVOLVEMENT Financial Support
Horizon Events and Internships
10/25 Scholar Awards
Horizon Events
$20,000 over five years Option of Event or Volunteer Opportunities
Exposing students to careers and experiences
4/6 Program Partners $50,000 annually
Paid internships to give Scholars high quality opportunities in Central FL
Board membership
Fights â&#x20AC;&#x153;brain drainâ&#x20AC;?
Internships
Volunteer
Applicant interview teams Encouragement teams for current college students
Help prepare Scholars for college interviews College admissions boot camp volunteer teams Host students gatherings
CURRENT PARTNERSHIPS FINANCIAL PARTNERS
Glenda G. Morgan Charitable Foundation
GIVING OPTIONS
Cash
Endow an award
Five year pledge
The Elevation Foundation
Appreciated assets
UNDERMATCHING High-performing students from Central Floridaâ&#x20AC;&#x2122;s distressed communities areâ&#x20AC;Ś Missing hundreds of thousands of dollars in scholarships and financial aid that they have earned. Attending colleges and universities with higher dropout rates and fewer job prospects. Returning to Central Florida less equipped to solve our most intransigent problems.
SOURCE OF PROBLEM Why don’t high need, high performing students apply to academic institutions that match their academic performance? 1
They don’t think they can afford it.
2
They don’t receive accurate, individualized guidance.
3
They don’t understand the lifelong implications.
SCHOLAR STORIES
Samela Pynas
Khun Zaw
Scholar, class of 2017
Scholar, class of 2016
Wesleyan, 2022
U of Florida, 2021
Oak Ridge H.S.
Colonial H.S.
Pre-med major
Business major
$286k financial aid package
Emigrated from Myanmar during middle school