Download - Quarterly Dashboard Assessment
2
Introduction
This document looks at seven critical areas of Year Up’s work. For each area, we set
performance benchmarks and rate our progress with a color coded system:
Green means that the area is performing on target
Yellow means caution and further attention and analysis is warranted
Red means there are significant concerns and follow-up is a priority
For areas that focus on class-specific data, classes are identified by their graduation month and
year (i.e. Jan ’06, Jul ’06, etc.).
The goal is to provide the Year Up staff and Board with a tool to clearly assess organizational
health and to zero in on problem areas.
3
Recruit and retain talented staff
Cultivate solid student pipeline
Provide consistent student support and guidance
Teach marketable skills
Provide quality service to corporate partners
Position students for ongoing success
Create sustainable program infrastructure
Executive Summary
StatusDec 06
G
G
G
Y
G
Y
G
G
G
G
Y
G
Y
G
StatusApril 07
4
Recruit and retain talented staff
0% 9%
39%
52%
0%
10%
20%
30%
40%
50%
60%
StronglyDisagree
Disagree Agree StronglyAgree
G
Rules:
Human ResourcesGEmployee
Satisfaction G
Five employees departed in 2007
Two employees left in 2006
Employees are generally satisfied and excited about their experience at Year Up
• <= 15% Turnover
• 15% - 20% Turnover
• >= 20% Turnover
• >=85% Agree or Strongly Agree
• 75% < Agree or Strongly Agree < 85%
• Agree or Strongly Agree <= 75%
Comments:
Metric:
G
Y
R
Question: I am satisfied with my experience at Year Up and excited about the challenges that lie ahead
5
Cultivate solid student pipeline
5.0
2.5
5.25.7
6.5 6.5
4.7
3.3
3.9 4.0
2.0
4.0
6.0
8.0
Jan '07 Jul '07 Jan '08
Graduation Month/Year
MA RI DC NY
G
Metric:
Rules: G
Y
R
Comments: Consistent referrals suggest both student satisfaction and high need for Year Up services
• Interested : Accepted >= 3:1
• Ratio of Interested to Accepted between 2:1 and 3:1
• Interested : Accepted <= 2:1
• Alumni referral >= 30%
• 20% < Alumni referral < 30%
• Alumni referral <= 20%
Student Yield (Interested: Accepted Ratio)G Admissions Referrals
(% Referred by Alumni/Students)G
57%
49%
60%
44%
18%
56%
47%
17%13%
0%
10%
20%
30%
40%
50%
60%
J an '07 J ul '07 J an '08
Graduation Month/Year
MA RI DC NY
Ratios across all four sites indicate high interest & deep outreach
Consistently lower yield for January classes expected
6
Provide consistent support and guidance
67%
59%55%
77%74%
59%
71%
89% 86%83%
74%
0%10%20%30%40%50%60%70%80%90%
J an '07 J ul '07 J an '08
Graduation Month/YearMA RI DC NY
Y
Metric:
Rules: G
Y
R
Comments: Company wide focus on improving lower-than-target retention rates
Several initiatives in place to reduce attrition, including in-program support and admissions screening.
• Apprenticeship Departures <= 5% of class
• 5% < Apprenticeship Departures <10%
• Apprenticeship Departures >= 10% of class
Apprenticeship Departures(% Fired in Apprenticeship Phase)
YStudent Retention
• >=80% Retention
• 75% < Retention < 80%
• Retention <= 75%
Improvement noted with July ’07 class.
Strong focus on client service has helped to retain partners
13%
19%
14%14%
27%
7%6%
4%
7%
0%
5%
10%
15%
20%
25%
30%
J ul '06 J an '07 J ul '07
Graduation Month/YearMA RI DC NY
G
7
Teach marketable skillsG
Metric:
Rules:
G
Y
R
Comments:
• Met or Exceeded Expectations > = 85%
• 80% < Met or Exceeded < 85%
• Met or Exceeded Expectations <= 80%
Professional Skills(% Met/Exceeded Expectations) G Technical Skills
(% Met/Exceeded Expectations) G Communication Skills
(% Met/Exceeded Expectations) G
• Met or Exceeded Expectations > = 85%
• 80% < Met or Exceeded < 85%
• Met or Exceeded Expectations <= 80%
• Met or Exceeded Expectations <= 80%
• 80% < Met or Exceeded < 85%
• Met or Exceeded Expectations > = 85%
Current apprenticeship partners remain satisfied with our students’ professionalism.
Current apprenticeship partners remain satisfied with our students’ technical abilities.
Current apprenticeship partners remain satisfied with our students’ communication skills.
8
92%
72%
97%91%
94%
86%
97%91%
83%88%
99%
0%10%20%30%40%50%60%70%80%90%
100%
J an '07 J ul '07 J an '08
Graduation Month/Year
MA RI DC NY
G
Metric:
Rules:
G
Y
R
Comments:
Student Survey:Instructor Overall
(% Rating “Excellent or Very Good”)
G
• Excellent or Very Good >= 75%
• 65% < Excellent or Very Good < 75%
• Excellent or Very Good <=65%
Student Survey:Course Overall
(% Rating “Excellent or Very Good”)
G
91%
77%
97%88%87%
96%97%91%
69%
78%
99%
0%10%20%30%40%50%60%70%80%90%
100%
J an '07 J ul '07 J an '08
Graduation Month/Year
MA RI DC NY
Current class reports high degree of satisfaction with Year Up instructors.
Student satisfaction in NY continues to remain very high.
• Excellent or Very Good >= 75%
• 65% < Excellent or Very Good < 75%
• Excellent or Very Good <=65%
Student evaluations continue to affirm relevance and quality of Year Up curriculum across sites.
Teach marketable skills
9
Satisfaction with Year Up
• >= 80% Retention
• 70% < Retention < 80%
• Retention <= 70%
Quality service for corporate partners
3.20
2.61
2.96
2.402.27
2.67
1.901.90
3
0.00
0.501.00
1.50
2.00
2.503.00
3.50
Jul '06 Jan '07 Jul' 07
Graduation Month/Year
MA RI DC NY
91%100% 95% 100%
94%100%
75%
0%
20%
40%
60%
80%
100%
Jan '06 Jul '06 Jan '07Graduation Month/Year
MA RI DC
G
Metric:
Rules: G
Y
R
Comments:
Launched initiative to identify and manage strategic accounts.
In MA, three top partners account for 51% of current placements.
Partners remain closely linked with program as employers of YU alumni and future apprenticeship partners
• >= 4 interns/partner
• 2 < interns/partner < 4
• interns/partner <= 2
Average Apprentices/Partner
Y
• Yes >= 90%
• 85% < Yes < 90%
• Yes <= 85%
Corporate Partner Retention
(% Partners from Previous Class Retained as ‘Active’ Partners or On Board for the Future)
GQuestion: Based on this apprentice’s
performance, would you continue relationship with Year Up?
G
Early DC challenges have been resolved and 100% of partners renewed for July ’07 class.
97%
88%
98%93%
100%89%
100%
0%
20%
40%
60%
80%
100%
J ul '06 J an '07 J ul '07
Graduation Month/YearMA RI DC NY
10
• >= 85% employed in 4 months
• 75% < employed in 4 months < 85%
• Employed in 4 months <= 75%
Position students for ongoing success
$15.19
$16.94
$15.09
$11.89
$13.41$13.31
$15.93
$10.00$11.00$12.00$13.00$14.00$15.00$16.00$17.00$18.00
Jan '06 July '06 Jan '07Graduation Month/Year
MA RI DC
28%
21%
35%
25%
55%
15%
25%
0%
10%
20%
30%
40%
50%
60%
Jan '06 Jul '06 Jan '07
Graduation Month/Year
MA RI DC
Metric:
Rules: G
Y
R
Comments: Wage rate differences noted by city.
MA and RI on track to meet target. DC made great improvements on graduate employment.
• Average wage >= $15/hr
• $12.50/hr < Average wage < $15/hr
• Average wage <= $12.50/hr
Average Wage
Y GraduateEmployment
(% Employed within 4 months)
G
G
Improved alumni services will increase college attendance rates.
Pallotta scholarships have made a major impact in MA.
• >= 40% Attending college within 1 year of graduation
• 30% < Attending college within 1 year of graduation < 40%
• Attending college within 1 year of graduation <= 30%
AttendingCollege
G
11
Provide sustainable program infrastructure
$4.3M
$7.5M
0
2,000,000
4,000,000
6,000,000
8,000,000
Nov '06 Mar '07 May '07
Target Actual
Y
Metric:
Rules:
Comments:Current position (5/07) = $7.5M
Exceeded target cash position by $3.2M. Getting closer to Board goal of 6 months of working capital on hand
• Cash >= 100% of target
• 90% < Cash < 100% of target
• Cash <= 90% of target
Cash PositionG
Continued improvement in Days Sales Outstanding.
• Time to collect <= 60 days
• 60 days < Time to collect < 90 days
• Time to collect >= 90 days
Days Sales OutstandingY
6566
64
7373
58
60
62
64
66
68
70
72
74
May '06 Aug '06 Nov'06 March ' 07 May '07
Day
s
Strong focus on increasing apprentice rates across all sites.
• Apprentice pay >= $725/wk
• $650/wk < Apprentice pay < $725/wk
• Apprentice pay <= $650/wk
Average Apprentice RateY
$698
$703
$766$724
$694$683
$709$719
$785
600
650
700
750
800
Jul '06 Jan '07 Jul '07
Graduation Month/Year
$/w
eek
Boston ProvidenceWashington NY
G
Y
R
12
Provide sustainable program infrastructure (continued)
$2.27M
$2.21M
0
1,000,000
2,000,000
3,000,000
4,000,000
Jan '07 Feb '07 March'07
April '07
Received/Committed2007 Fundraising Goal
Metric:
Rules: G
Y
R
Comments:
Y
RI, DC, and NY launching Scholars programs in ’07.
Scholars targets adjusted to reflect event sponsorship.
Year Up Scholars Coverage(% of Students Covered by YU Scholars)
Fundraising across all sites right on target.
Figures do not include any of the prospectus commitments that were verbally pledged in March & April since they are not officially booked until June.
Fundraising GoalG
• Fundraising >= 100% of goal
• 90% < Fundraising < 100% of goal
• Fundraising <= 90% of goal
26%
0%1%1%
15%
0%0%0%
14%
0% 0%0%0%
5%
10%
15%
20%
25%
30%
2008 Graduates 2009 Graduates 2010 Graduates
Graduating C lass
BostonP rovidence
WashingtonNY
• Scholars Coverage >= 50% of students
• 25% < Scholars Coverage < 50%
• Scholars Coverage <= 25% of students
Y
13
Provide sustainable program infrastructure (continued)
Metric:
Rules: G
Y
R
Comments:
Y
$14,755 $14,482 $14,912
$10,000
$12,000
$14,000
$16,000
$18,000
$20,000
2005 (Actual) 2006 (Actual) 2007(Projected)
Each site focused on achieving a long term cost per head of $14,500
While current projections include all sites, future metrics will separate by site
• Cost per student in current year lower than previous year
• Cost per student in current year same as previous year
• Cost per student in current year higher than previous year
60%
32%
0%
59%
32%
9%0%
30%
48%
10%
12%
0%
20%
40%
60%
80%
100%
2005 2006 2007
Foundations Internship Government Individuals
Split “Foundations” bar into “Foundations” and “Individuals” for 2007.Increased government presence. Apprentice revenue increasing as a percentage of total as planned
• Intern & gov’t funding >= 45%
• 35% < Intern & gov’t funding < 45%
• Intern & gov’t funding <= 35%
Funding MixG Y Cost per Student
14
INCOME STATEMENT SUMMARY
Revenue Expenses
Indiv. Contributions $ 493,552 Program $2,898,508
Found, Corp, Pub., Misc $1,860,946 Fundraising $ 172,530
Internships $1,680,572 Mgt. & Gen $ 379,566
Total Revenue $4,035,070 Total Expenses $3,450,604
Budget to Actual
YTD Actual YTD Budget Variance
Revenue $4,035,070 $ 4,107,112 ($72,042)
Expenses $3,450,604 $ 3,911,905 ($461,301)
ADDITIONAL CASH DETAIL (not reflected on Income Statement)
YTD Cash Receipts Received from Previous Year Pledges: $ 1,547,633
Previous Year Pledges Expected to be received in 2007: $ 420,366
BALANCE SHEET
YTD Actual Beg. of Year Change
Total Assets $ 18,962,518 $ 12,443,395 $6,519,123
Total Liabilities
& Net Assets $ 18,962,518 $ 12,443,395 $6,519,123
Cash on 5/31/07 = $7,507,887
AppendixFinancial Summary (through April 30, 2007)
15
Operations
Launching due diligence research for site expansion.
HBS intern leading summer project to update the Dash Board
Conducting national training for cross site operations staff.
Launched cross site Leadership & Management training program for growing staff of middle managers.
Strengthening professional development procedures and introducing job categories and career tracking.
In final stages prototype design for national database to improve data collection & analysis for student tracking, fundraising and contact management
Launching cross site purchase order system integrated with company intranet.
Infrastructure & Systems
Searches in progress: Future Executive Directors.
Hired: National Director for Academics & Program, Finance Coordinator & Director of Data Systems and Operations
Hired: National Director for Strategic Partnerships & Development.
Staffing
Partnership Building
Fundraising: Growth Capital Campaign
Year Up National – Update Appendix
Program Pilots with national implications include alternative credentialing model, alumni services infrastructure, TABE learning assessment, and empowerment curriculum.
National corporate partnerships evolving– Monster, Bank of America, Perot Systems, State Street and Ipswitch.
Public Launch of Microsoft Partnership
Involvement of Governor’s office: Governor participation – Prayer Breakfast and NECN Panel
National Fundraising Wins – New Profit ($1M), Josh Bekenstein ($2.5M)
Largest Donation in Year Up history – Jensen Family Foundation $5M with $1M incentive for reaching $18M goal by September 2007.
Human Asset Management
16
Operations Buildout at 93 Summer will take place June-September – creating capacity for an additional
learning community (70 students/year) and national headquarters functions.
Program & Academics
New “Admission Forum” approach launched to consolidate applicant information and facilitate improved decisionmaking
Alumni Association re-launched on May 15 with new officers, board members, and committee structure. Alumni reunion scheduled for June 9.
15/19 of the Kellogg-funded pilot for students with no HS diploma or GED remain. 4 of these students have received GED/diploma since starting Year Up.
Initial indications that non-GED attrition follows similar pattern to traditional Year Up students.
Students
Two FT instructors departed mid-semester. Current focus on recruiting for September class and developing new pipeline model for faculty.
Full-time Events and Communications Manager will consolidate expertise for local events
Staffing
100% of July placements secured as of May 31. Continued selling will create contractor opportunities for graduates.
State Street pilot with Investment Operations has resulted in FT job offers to all current apprentices and increased interest in apprenticeship program.
Consultant leading the documentation of sales and client service strategy for “site in a box”.
Apprenticeships
Microsoft relationship officially launched in early May – next steps include rolling out certification training/testing services for YU staff, students, and alumni
Increased visibility in Q2 with Governor’s Prayer Breakfast & WBZ, NECN, and Cuencavision,
Wins – MA State Budget ($400K), Workforce Competitiveness Trust Fund ($500K/3 years), United Way ($140K/3 years), Marathon ($40K), Ludcke ($50K), Bilezikian ($20K), Babson ($10K)
June Prospects – Drive Fore Success Golf Tournament ($200K) & Bank of America ($200K) Upcoming “Know Your Donor” survey will assist in targeting cultivation
and cultivation efforts
Fundraising and Marketing
Year Up Greater Boston – Update Appendix
17
ProgramGraduation planned for August 1st. Likely speaker Dean Esserman, Providence Police Chief.
CCRI 12-credit articulation agreement secured. Johnson & Wales draft dual-enrollment agreement still in our hands for review.
Class of July 2007 – 25 of 34 students retained with two months to go (74%).
Class of January 2008 – 31 of 36 students retained after three months (86%). Students
Working to secure 31 apprenticeships for July. Current gap appears to be 3 – 4 apprentices. New partners signed on include Gilbane (new CIO renewed), Collette Vacations and Hasbro.
Still have not re-upped with the State of RI. They were one of our largest partners, with 3 – 4 apprentices per class, but the current state budget crisis is affecting their ability to work with us. Also lost the RIEDC because they’re outsourcing IT.
Still pursuing other prospects: APC, BCBS RI, Brown University, EDS, Edwards & Angell, FM Global, HinckleyAllen, and Unicom.
Apprenticeships
Wins – $60K from State WIBs, $20K individuals, $5K Horton fund, $5K APC, $5K in-kind clothes
Pending – Federal appropriations ($700K), RI Dept. of Adult Education ($176K), RI Foundation ($50K), RI General Assembly ($44K), Bank of America Foundation ($25K), Kimball Foundation ($20K), TriMix Foundation ($20K), Grimshaw-Gudewicz Foundation ($15K), and Robert Stoico/FIRSTFED Charitable Trust ($10K).
Individuals – Currently working on developing relationships with Liz Chace, Brad Faxon, Rick Bready, Shivan Subramaniam, Bob Savoie, Bill Daugherty
Advisory Board – Recently added Pete Hayes of Hayes & Sherry Real Estate. Working to add more new members.
Fundraising & Board Dev
Year Up Providence – Update Appendix
New junior tech instructor, James Angell, recently hired. He’s a YU RI Class 2 grad.
New site leader, Joe Gerena, helping to ensure focus on high support and retention Team
18
Program & AcademicsSuccessfully transitioned to two learning community model
Secured Bill Kennard, former FCC Chairman, as graduation speaker
Hired Enrollment Coordinator
Nancy Swift transitioning to alumni specialist
Site leaders ensure consistent program quality
Staffing
New partners: Ibiquity and Hangar IT
Morgan Stanley committed to 10 investment operations apprenticeships in Baltimore
Northrup Grumman interested in partnering with Year Up across all four sites and future locations
Apprenticeships
Wins: $50K cash and software Microsoft
Losses: $25K Gwendolyn and Morris Cafritz Foundation, $25K Junior League of Washington
Pending: $100K Philip L Graham Fund, $200K Congressman Moran appropriations request
Highlighted on video cast for national CIO Executive Summit
Guest on Business Destiny radio show as Human Capital solution
Fundraising and Marketing
Year Up Washington, DC – Update Appendix
19
Operations
Hosted first fundraiser/cultivation event where we honored a mentor and a corporate partner -- Merrill Lynch
Hosted JP Morgan Chase Day on 6-1-07, Lehman Brothers Day 6-8-07, Merrill Lynch Day on 6-15-07 and Towerbrook Day on 6-12-07
First NYC Graduation scheduled for 7-30-07 at Embassy Suites Hotel in the Financial Center
Program & Academics Final review of articulation agreement with Pace University where students can receive up to 16 transferable college credits from Pace University
Started first Investment Operations class with eleven studentsTaking thirty students to Washington DC site – trip sponsored by Edwin Gould
Foundation and Tides
38 students started the program in March 2007 and there are currently 28 students in the program (74% retention)
September 2006 class started with 24 students and we are currently at 17 students (71% retention)
Have over 100 interest forms form the September 2007 class
Students
Hired Director of Cultivation and Special Events, Karen FleshmanHired consultant to scope program space options for September 2008Currently recruiting instructors, FAO Schwarz Fellow and Director of Operations
Staffing
Secured IT apprenticeships with American Express and Bank of AmericaSecured Investment Operations apprenticeships with Merrill Lynch, Lehman
Brothers and Morgan Stanley In discussions with Citigroup, Cisco, IBM, Centerline Capital Group and Bear
Stearns
Apprenticeships
Towerbrook grant approved for $75,000Microsoft Unlimited Potential grant approved for $92,700Preparing renewals as well as new proposals for WT Grant, Bank of America,
Guttman Foundation, Salesforce.com, Staples and New York Community TrustHosted site visit for 15 staff from the Robin Hood FoundationHosted site visit for Craig Newmark, founder of Craigslist on 6-5-07
Fundraising and Marketing
Year Up New York City – Update