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To close the opportunity divide by providing urban young adults
with skills, experience, and support that will empower them to
reach their potential through professional careers and higher
education.
Year Up provides a year-long, high-support, high-expectations
program for low-income and disconnected 18 to 24 year olds,
consisting of six months of classes in professional skills and technical
training, followed by a six-month paid apprenticeship in IT or
Investment Operations at leading companies.
- Grew annual revenues by 57 percent from $11.5 million in
FY2006 to $18.0 million in FY2007, and increased lives
touched by 40 percent from 350 to 491 students served
in 2007.
- Successfully closed a $20 million growth capital campaign to
support the organization’s five-year growth strategy.
- Increased percentage of operating expenses covered by corporate
partner revenue from 38 percent in FY2006 to 45 percent
in FY2007, and ended FY2007 with a cash position of more
than $8 million (five months of operating expenses).
- In 2007, 89 percent of Year Up graduates were employed
within four months of graduation, and achieved average starting
wages of $15.52 per hour. Almost half (45 percent) of Year
Up participants have enrolled in college within one year of
completing the program.
- Year Up developed a prototype alternative credential for outof-
school-youth with the W.K. Kellogg Foundation. Preliminary
findings from a Boston pilot with students lacking a high school
diploma or GED showed comparable apprenticeship success
rates to other Year Up students.
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By 2011, Year Up plans to serve 1,600 students in seven cities
annually. By 2016, Year Up aspires to have a presence in 25 cities
and reach 5,000 young adults per year.
Total Funding from New Profit to Date: $700,000
Value of Total Consulting Resources from New Profit (Monitor or Other) to Date: $350,000
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