2015-2016 Annual Report

Giving parents a choice. Giving children a chance. OUR Mission & PROGRAM

CSFB is ’s only need-based scholarship program providing low-income Baltimore City students with tuition assistance to attend kindergarten-8th grade at the school of their choice.

• CSFB provided tuition assistance to 275 students.

• CSFB scholars attended 47 schools.

• Every family who received a scholarship from CSFB is below the median income level. All of our families qualify for free and reduced lunch programs.

• All students from a family randomly selected from our waiting list are eligible for “It is our children’s time – for girls tuition assistance. and boys; for those with special needs and without; for the poor • Nationally, CSF affiliates have and the not so poor; for those who provided scholarships worth are white, brown, black and any color or any mix – excellence and almost $700 million to equity for all. It’s the right thing to more than 158,000 students. do, and it’s the just thing to do.”

• This year, CSF and its partners served over – Dr. María Robledo Montecel President, Intercultural Development 23,000 children across the country. Research Association CSFB OUTCOMES

In Baltimore, data from an independent study conducted with funding from The Friedman Foundation and our continued follow up with alumni measure high school graduation rates and college attendance rates of CSFB scholars. We are happy to report these exceptional results! 98% High School Graduation Rate And post high school...

• 85% of our students attend college • 11% enter the military and • 4% have entered the workforce CSF scholarships demonstrate that a relatively small philanthropic investment – the average scholarship was $1,864 last year ­– combined with a contribution from the parent and financial aid, can provide a private school education, a better chance of graduating from high school and a higher likelihood of attending college. And nationally... • A new study finds CSF Alumni enroll in and earn degrees from college.

Dr. Eric Bettinger and a team from Stanford University recently analyzed the college enrollment, persistence, and graduation rates of a sample of more than 5,000 CSF New York and CSF of Omaha alumni who used scholarships between 1999 and 2010 and were old enough to have graduated from high school. Despite coming from socio-economic backgrounds associated with much lower rates of college enrollment and graduation, CSF alumni enroll and persist in college and earn degrees at rates similar to or higher than the general population and much higher than low-income students generally, according to the study. Read more at www.scholarshipfund.org/research. CSFB Al-Rahmah School Mt. Pleasant Christian School Notre Dame Preparatory School Talmudical Academy of Baltimore Archbishop Borders School Mt. Zion Baptist School Ohr Hemeir Theological Seminary The Catholic High School SCHOOLS Bais Yaakov School for Girls Ohr Chadash Academy Our Lady of Mt. Carmel of Baltimore Baltimore Junior Academy Our Lady of Victory Baltimore Lab School Roland Park Country School Patterson High School W.E.B DuBois High School Baltimore School of Sisters Academy of Baltimore Paul Laurence Dunbar High School Waterbury Yeshiva, Connecticut Independent Learners St. Agnes School Pine Forge Academy Western High School Bethlehem Christian Day School St. Casimir Catholic School Reginald F. Lewis High School Yeshiva Telshe Alumi School Bnos Yisroel of Baltimore St. Clement Mary Hofbauer Roland Park Country School Yeshiva Torat Chaim School Calvary Lutheran School St. Francis of Assisi Cambridge School St. James & St. John Seton Keough Catholic High School Yeshiva Ohr Yissochor Cardinal Shehan School Catholic Elem. School Shenandoah Valley Academy Yeshivas Toras Chaim Cheder Chabad St. John’s Parish Day School Southwestern High School Yeshivat Rambam Concordia Preparatory School St. Mark School St. Francis Academy Yeshiva High of Greater Washington Emmanuel Christian Day School St. Michael the Archangel St. Mary’s High School Friends School of Baltimore St. Philip Neri School Greater Grace Christian Academy St. Pius X School Greater Youth Christian Academy St. Thomas Aquinas School H.O.P.E. Academy St. Ursula School CSFB Albright College Mt. St. Mary’s, Holy Angels Catholic School Talmudical Academy of Baltimore ALUMNI Anne Arundel Community College Mt. St. Mary’s, New York Immaculate Heart of Mary The Boys’ Latin School of Maryland Arcadia University Newbury College Jemicy School The Lamb of God School COLLEGES Baltimore City Community College Northwestern University John Paul Regional Catholic School The Unselds’ School AND TRADE Beis Medrash Toras Chesed Providence College Life Source Christian School Torah Institute of Baltimore SCHOOLS Benedict College Rosemont College Binah Institute Saint Vincent College Bowie State University Sharei Bina Seminary Tsfat CSFB Academy for College and Career Exp Friends School of Baltimore Brandeis University Stevenson University Catonsville Community College ALUMNI Archbishop Curley High School Friendship Academy Archbishop Spaulding High School Talmudical University HIGH Bais HaMedrash and Mesivta Heritage High School Cornell University The New School for Drama SCHOOLS of Baltimore Immanuel Christian Empire School of Beauty Thomas Edison State College Bais Yaakov School for Girls Independence School Essex Community College Baltimore City College High School Institute of Notre Dame Fashion Institute of Technology UMBC Baltimore Lutheran High School Jemicy School Fortis Colleges and Institute Baltimore Polytechnic Institute Kenwood High School Frostburg State College University of California, Berkeley Baltimore School of the Arts Kerrim Academy Greensboro College University of Maryland College Park Beth Tfiloh Dahan Lake Clifton High School Hebrew Theological College University of Maryland Eastern Shore Community School Largo High School ITT Tech Utica University Bnos Yisroel of Baltimore Maritime Academy High School Virginia State University Boy’s Latin School of Maryland Mercy High School Lackawanna College Virginia University of Lynchburg Byrn Mawr School Mergenthaler Vocational School Loyola University of Maryland Wesley College Calvert Hall College High School Merit Israel Michigan State University Yeshiva Gedolah of Connecticut Civitas High School Mesivta High School (Boston) Yeshiva University Cristo Rey Jesuit High School Milford Mill Academy Digital Harbor High School Milford Mill High School Mount Saint Joseph High School Dunbar High School Mt. Zion Baptist High School Edmonson High School Ner Isael Rabemical College School Forest Park High School Ner Israel Beren High School Frederick Douglass Senior Ner Israel Rabbinical College High School New Town High School “Education is for improving the lives of others and for leaving your community and world better than you found it.”

– Marian Wright Edelman OUR GENEROUS DONORS

CSFB would like to thank our donors for helping give our kids a chance. Jane Webster Karen Jordan and Allan and Claire Jensen Margaret M. Schechter Stephen Williams Daniel L. Davis Michael Judelson Chaim and Adele Schnell Mary Davis R.S. Karlin Buffy Beaudoin-Schwartz Johns Hopkins Robert and Sandy Hillman $50,000 AND ABOVE $2,000 SCHOLARSHIP $249 - $101 (In honor of Susan Laurence and Sandy Katz and Howard Schwartz Neighborhood Fund DONORS Craig and Kelly Horner Austin) Felicia Kaufman Rabbi Yehoshua and CSF, Inc. The A Foundation OneMain Financial Annie and Henry Jenkins Suzanna Duvall Ruth Kincaid Sarah Shapiro Davis Family Foundation William C. and Mayer Baker Associated Jewish Kate and David Powell Jake and Jennifer Martin Natalie Eaton Denise Kitchel Harriet E. Shiffman Theresa and Jeffrey Becks Charities of Richard Riggs Robert and Maryann Michael and Ruth Edidin Roslyn Klawansky Eliyahu and Susan Shuman $49,999 - $25,000 Bradley BEEEM Fund Baltimore T. Rowe Price Foundation Matthews John Egger Ari and Shoshana Krupp Michael Singer J. Parker and Laura Davis Deborah Baum Allegis Group Foundation Mark and Kathryn Vaselkiv Michelle and Ira Malis Yousof and Farah Fakheri Donald and Anita Kuritsky Daniel and Ruchoma Mark and Aimee Fulchino Sharon Benyowitz Baltimore Next Generation Venable Foundation James Meek William Marlo Jr. Judah and Mira Labovitz Skurnik The Gathering Lee and Rachel Birnbaum Investing Event WPW Foundation Neil and Sayra Meyerhoff and Trit Farley Elie and Esther Levi Solomon and Minda John “Wes” Guckert William and Lee Bone Clayton Baker Trust Drs. Redonda Miller and Jonathan and Kelly First Emmanuel Librowicz Spetner Tim and Devon Boruch Brown Lockhart Vaughan $9,999 - $5,000 Albert Polito Stanley and Renee Michele Lipkowitz M. Rappaport Hathaway Fund Kathryn Byram Foundation Marta and David Mossburg Fishkind Henry and Miriam Ann Smith-Reiser Howard Baetjer, Jr. Donald J. Hoelting Marvin and Shirley Davids Thomas Wilson Sanitarium Lisa Rapuano Gershon Frankel Lowenthal Fred and Janet Sunness Kelso Bishop Family Robert and Jenny Cameron and Meara for Children of Jacob Stokes Philanthropic Fund Ofer and Marcie Lurman Hillel and Marsha Tendler Foundation Hopkins Fund Denton Baltimore City Kelly and Michael Sturman Howard Friedman Seymour and Faigie Samuel and Esther M&T Bank Charitable Linehan Family Foundation Francoise E. Engel, DDS Legg Mason Charitable Jules Szanton Kevin and Cathy Gaynor Mandelcorn Wealcatch Foundation James and Mary Miller Valerie Grays Foundation Mayer and Nita Gerstein Christopher Manfuso Sholom and Tzipporah George Roche Owen Charitable Daniel and Chaya Vishva and Barbara Milton and Elenor Marder Weingot Matthew & Christina Foundation $499 - $250 Greenwaldtzedaka $24,999 - $10,000 Gheewala Stanley and Malikie David and Aidel Weisberg Wyskiel Family Van Dyke Family Jay and Julia Acker Louis and Hope Grenzer Moshe and Goldie Glazer Markovitz Ralph and Anita Weiss Alban Foundation Charitable Gift Fund Foundation Rabbi Chaim Amster Scott and Beth Harbinson Mordecai and Charlotte Elizabeth Martin Ettastine Williams Anonymous Brad and Crickett Woloson CANUSA Corporation Jack L. Harvey Glicksman Charity Alan and Shulamith Lynn Wintriss Baltimore City Foundation $4,999 - $2,500 Charitable Fund Brooks and Denise Kitchel Fund Mensh Dina Glorioso and Bunting Family Foundation Sheldon and Jamie Caplis David Miller Sean and Constance $1,999 - $1,000 Laurence and Vicki Goetz Uri and Deborah Meth Lori Wlodarczyk Charles Crane Cooper Family Fund John M. Prugh Bennett Arborvitae Fund Andrew and Sheila Neil and Sayra Meyerhoff Sally and Tzvi Wygoda Family Foundation James Dawson Ernie and Rania Rafailides F. Barry Bilson Berrier Family Fund Goldfinger Carol Ann Miller Louisa J. Wyskiel Friends of Children’s Edward Delaplaine Jamila Sams Rick, Alexa, Maeve and Tim Burdette David and Chana Goldman Sara Milstein Reuben Yudkowsky Scholarship Fund Nancy Dorman Julia and Kevin Schnupp Charlotte Corcoran Ann and Frank Jakob and Kim Goldstein John R. Minninger Hayim and Rebekah Zeif Grunwald Family Michael and Ruth Edidin Katie and Philip Shaw Bart Harvey Cahouet Foundation Jaleh Goodale Michael and Miriam Abraham Zuckerbrod Charitable Foundation Christine and Peter Steven Shore Jay Lohse Richard and Karen Daniel Gordon Moses Samuel and Margaret Espenshade Alisa Rock and Jim Wade Sophia Marquez-Wallace Corcoran Daniel E. Greer Dr. and Mrs. Ari L. Gorn Foundation Feats Impact Fund Edward Wight MATCHING GIFTS John and Susan Powell Georgette Kiser Etan and Kayla Gross Moskowitz Huether-McClelland Mr. and Mrs. Henry Abell Foundation Foundation Donna and Ernest Kovacs Andrew and Shira Grill Yehuda and Anne Franklin $100 OR LESS Feats Impact Fund Margaret A. and Robert S. D. Ken Harbinson Neuberger Gordon and Martha Glenn GE Foundation Lawrence Jr. Charitable Mr. Arpen Lynn Harbinson David and Celia Neuman Elizabeth Green, Esq. T. Rowe Price Gift Fund Amazon Smile Benjamin and Malka Jack and Shifra Novograd Renee Guckert, Esq. Venable LLP Daniel and Gay Anonymous Heineman Aaron and Sarah Paige Judith and Steven Haines Shackelford Thomas Azman Manfred and Aviva Darnell Ramsey The Joshua Fund Bob and Elaine Schaefer Wendy Baird Heinemann S. Jason Reitberger IN-KIND DONORS Rivka Laks D. William and Joel and Feige Baumer David and Ahuvah Heyman Nick and Anita Richardson Christopher Schafer Julie-Lynn Lewis Pamela Schlott Stewart and Sharon Joseph and Elizabeth Gary and Mindy Rockwood Clothier Elizabeth Massing Slate Capital Group Bernstein Hobelmann Adele Rosenblatt DJ’s Willie and J.Gray Joyce and Hugh Ralph Smith Timothy and Diane Boia Stuart and Irene Hoffman Sarah J. Rosenbloom EmmeY Makeup Artistry McCormick Charitable Mark Terranova Mehdi Bousaidi Stephanie Holley David Rossman and Flaunt on the Avenue Fund Dan and Krissie Verbic Kevin and Heather Norris and Gail Horwitz Shoshana Gertz Red Maple Timothy C. Naylor Buerger Moshe and Mindi Hover Ahvner Rozwaski Star Won Botique Norcross Fund Scott Burleigh Charles D. Huber John and Nancy Michael Stavrinos $999 - $500 Barbara Neuman Pollak Lawrence Copeland Lisa Ishii Sandbower Photography Baum Foundation Betsy Sandbower Michael Cox Murray Jacobson Joanne and Wade Ware House 518 Chef’s Expressions Phillip Spevak Anna Dahl Anne A. Jamison Sanders David and Allison Clapp Michael Stavrinos Stephen and Amy (In honor of Matthew Moshe and Malka Nicholas and Louise Cortezi Photography Dassoulas Wyskiel) Sandhaus Doug and Corie Godine Ferrier R. Stillman Brian and Kristen Graney James and Jacqueline CSFB is grateful for every donation we receive from individuals, organizations, and businesses. John and Elizabeth Hehir Stradtner Foundation If your name is missing, please contact [email protected]. TEAM TRIVIA COCKTAILS FOR CHOICE

Trustee Hosts Beth Hehir and Marta Mossburg planned an evening of facts and fun Hosted by Rick and Alexa Corcoran, our annual gathering featured guest speaker where teams of co-workers, friends and families answered questions to test their Derrell Bradford. A native of Baltimore’s Sandtown Winchester neighborhood, knowledge. Derrell attended the St. Paul’s School for Boys and the University of Pennsylvania, where he received a bachelor’s degree in English. Special thanks to Team Trivia Emcee Mark O’Neill who donated his services and helped us fund a scholarship for a full school year.

SIPS FOR SCHOLARSHIPS

Trustees served our donors for BIG tips at Baltimore’s Brew House No.16 and raised more than $7,500.

Thanks to Venable LLP for their sponsorship!

“Scholarships are the only reform that demonstrably and directly change the educational experience of a child from one day to the next. A scholarship is not a five-year plan or a Power Point. It’s not a Prezi or a promise that may not be fulfilled at some point in the future. It’s a ticket to the future, granted today, for a child trying to shape his or her own destiny in the here and now.”

— Derrell Bradford, Executive Vice President, 50CAN CSFB Scholar STORIES

A YOUNG SCHOLAR PUBLISHES A BOOK CSFB SCHOLAR FINDS HIS WAY

Second grader and CSFB scholar Sincere Huguen CSFB scholar Ju’waun Morgan is attending Loyola University of Maryland entering wrote a non-fiction children’s book entitled The Issue. his junior year. As part of his summer internship, he conducted interviews with CSFB The book is a true story written and illustrated by scholars and was moved by this young man’s story. Sincere, detailing a day in the life of a student who The CSFB scholar writes to Ju’waun: faces a very challenging issue while at school. “My parents really invested in my education. I attended K-8 in a private school and did The Issue was just accepted and selected for inclusion in the Baltimore County very well. By the time I hit high school, my attention diverted from school and I became Public Library’s Local Author Collection. You can now request The Issue in every labeled as a troubled teen. This was out of my character, but it affected my education and BCPL location! I dropped out in the 9th grade. I hung out with what I thought was my friend and did things I’m not proud of. I got into some real trouble which gave me time to think how important “I sought out private school placement because of their standard of academic excellence, education was. It made me appreciate my parents’ investment in me and how they did coupled with cultural diversity. I understand the value of quality education and wanted everything possible to give me the foundation I needed to succeed. my son to be in an environment that would acknowledge his strengths, nurture them, and also challenge him in areas for possible growth. Sincere and I are so very grateful for his I completed a Course of Instruction, re-enlisted in public experiences and the support he receives from Children’s Scholarship Fund Baltimore!” high school and graduated on time with honors. I’d like — Jahli, CSFB Parent to thank CSFB for the assistance they provided my parents. I’d like to thank everyone who played a part in coaching me through this terrible time in my young PREPARATION FOR HIGHER EDUCATION life. It truly takes a village. I understand the meaning of a good education and how a good start is the key.” “Private school allowed me to become the person I am today. My primary schooling prepared me for the rigorous curriculum of high school. It was very structured with — Anonymous CSFB Scholar, entered the English, Math, Foreign Language and the Arts and it helped me create a strong work Armed Forces August 2016 ethic and develop study skills. I came into high school well prepared.

I have completed a competitive graduate program earning a master’s degree. I give thanks for the opportunity CSFB provided to me to establish the strong early foundation to which I credit my success. Thank you CSFB!” – Shoshana, Speech Language Pathologist FUND THE FUTURE CAMPAIGN BALTIMORE NEXT GENERATION INVESTING EVENT

In June 2016, CSFB launched a three-year campaign to Fund the Future. Fund the The 2015 Baltimore Next Generation Investing Event showcased premier investors Future will raise $1MM beyond our annual fundraising goal and ensure CSFB has who presented their top equity investment ideas of the moment. This unique event adequate funding for scholarships at the beginning of each school year, rather featured speakers who rarely share their specific stock ideas in a public forum. than at the end. This initiative will allow our families to learn of their scholarships These successful world-class investors agreed to speak because the proceeds a full year before the school session starts – giving parents ample time to find the from the event go to three Baltimore non-profit organizations that help improve right school for their children and secure their personal tuition contribution, which educational choices for local children: Children’s Scholarship Fund Baltimore, is required under our program. Southwest Baltimore Charter School and KIPP: Baltimore.

Campaign chairs Tom Kelso and Dori Bishop Campaign Chairs PLATINUM SUPPORTERS ($10,000 AND ABOVE) and event hosts Mike and Mary Gill welcomed Tom Kelso and Brown Advisory close to 60 corporate guests to a spring Dori Bishop Bill H. Miller* reception to learn about the campaign. Rock Springs Capital To date, the campaign has received more Stifel Nicolaus T. Rowe Price than $600,000 in funding and pledges. Efforts John & Carol Williams to raise the next $150,000 are underway thanks to a challenge grant from the France-Merrick Foundation which GOLD SUPPORTERS ($5,000 - $9,999) requires CSFB to raise an additional $150,000 in new and/or 1919 Investment Counsel increased support. Suzanne Hurst & Sam Peters Matt & Christy Wyskiel We are so grateful for our Fund the Future supporters: Clayton Baker Trust SILVER SUPPORTERS ($2,500 - $4,999) Children’s Scholarship Fund, Inc. Investment Counselors of Maryland DLA Piper Legg Mason Global Asset Management France-Merrick Foundation Lee Owen Charles Gamper Frank Kelly CROSS-PROMOTIONAL SUPPORTER Kelso Bishop Family Foundation CFA Society of Baltimore Lockhart Vaughan Foundation Gary and Sonia Mangum * Thanks to the generosity of Bill Miller and an anonymous supporter, a Next Gen investment John and Joann Phelps account exists and supports the non-profit Venable LLP organizations helped by the Next Gen event. Bill’s generosity of time, ideas, and donations has 100% support from CSFB Trustees and Staff been integral to the success of the Next Gen event since its inception in 2010.

For more information and to learn about the 2016 event, visit www.NextGenInvesting.org. FINANCIALS JULY 2015 - JUNE 2016 revenue $ 729,467 Grants $ 447,718 Individual Gifts $ 127,251 CSF, Inc. (New York) $ 75,000 Events $ 70,630 Carryover Surplus $ 8,868 expenses $ 724,709 Program Services $ 550,995 Management $ 60,185 Fundraising $ 113,529 cumulative surplus (DEFICIT) $ 4,758 “I realize that not every youth gets an equal chance at becoming successful. Some never get a chance at all. And not every young person believes that tomorrow can be better than today or that they deserve a chance to be successful. It is not right that with all our resources every young person is not afforded the opportunity to be the best they can be if they want to. Our communities are hurting. Our systems need fixing. We can’t wait on the government, institutions, social programs and policies to meet the needs of our communities. It is in our hands.”

– Ludacris CSFB BOARD OF TRUSTEES 2015 - 2016

Raymond A. Mason HONORARY CHAIRMAN Elizabeth Green, Esq. PK Law Kate Rawson Powell CHAIR Prevision Policy LLC Renee Guckert, Esq. Renee Guckert Law Matthew W. Wyskiel TREASURER Skill Capital Management Beth Hehir M&T Bank Marta Hummel Mossburg SECRETARY Maryland Public Policy Institute Don F. Hoelting, CFA Investment Counselors of Maryland, LLC Rabbi Chaim Amster B’nos Yisroel of Baltimore Sophia Marquez-Wallace Venable, LLP Sean J. Bennett One Main Financial Elizabeth Della Massing Agora Publishing Group Carl Buhlman Jamila Sams Rick Corcoran, Jr. Go to Ms. Sams Slate Capital Group Mark Terranova Laura Davis FeatsEDU Marketing and Communications Consultant Valerie Grays Baltimore City Community College

CSFB ADVISORY BOARD

Dr. Howard Baetjer, Jr. CHAIRMAN EMERITUS James C. Davis Edwin J. Bradley, Jr. Robert D. Hopkins Suzanna Duvall CSFB STAFF

Beth Sandbower Harbinson EXECUTIVE DIRECTOR

Joanne Sanders PROGRAM ADMINISTRATOR

1000 St. Paul Street • Baltimore, MD 21202 tel 410.243.2510 www.csfbaltimore.org