City Council Presentation
May 2026
Making a promise for Richmond
● Launched in 2016
● City of Richmond founder and anchor funder
○ $35 million in ECIA funding allocated to Richmond
Promise over 9 years (funding ended in 2024)
Mission: Richmond Promise aims to ensure all students in Richmond excel to and through higher education, reach their career goals, and become leaders in the Richmond community.
INTRO & BACKGROUND
“Richmond Promise has been an excellent partner for me at Kennedy to promote new pathways for our students to
follow once they graduate. ” - Mr. Pollock, Kennedy High School
CARRYING OUT THE CITY’S VISION
Through our Bylaws, the City of Richmond tasked Richmond Promise to carry out the following objectives
Provide
scholarships to
eligible students
Partner with WCCUSD to
provide pathways for
students to attend UCs,
CSUs, community
colleges, and CTE
programs
Increase economic
well-being of Richmond
and improve the health and
quality of life for Richmond
residents by producing a
college-ready workforce
PILLARS OF SUPPORT
COLLEGE ACCESS
& AWARENESS
POSTSECONDARY
AFFORDABILITY
SCHOLAR SUCCESS CAREER SERVICES
Early College Awareness
programming (supporting
middle school students and
9th and 10th graders)
A-G Requirement
Workshops
College Access programming
(supporting high school
seniors)
Office hours support
Summer workshops
MOU partnerships with
colleges & universities
Basic needs funding
Digital divide support
(laptops, printers, software)
Student employment
One-on-one coaching and
office hours support
Career Accelerator Program
Mentorship Program
Career Hub
Internship and job search
support
Alumni Association
One-on-one coaching and
office hours support
Annual, renewable
scholarship
Financial aid completion
support (annual renewal)
Financial aid dispute
support (case by case)
Richmond Promise Scholarship – $1,500 per year for up
to 6 years of a student’s undergraduate education
Eligibility Requirements:
● Be a resident of the City of Richmond or unincorporated North Richmond ● Graduate or have graduated from an eligible high school within the WCCUSD boundary area or received a GED/high school equivalency ● Graduate in an eligible year
● Have attended an eligible high school from at least 9th-12th grade consecutively
● Be under the age of 24
● Complete the FAFSA/Dream Act Application
● Submit a Richmond Promise Scholarship application by the application deadline
THE SCHOLARSHIP
SCHOLAR SNAPSHOT
Students who have been awarded a scholarship
● 4,600+ Scholars awarded since 2016
● 1,300 Scholars served on average per year
● 91% of Scholars identify as people of color
● 70% of Scholars come from low income households
● 64% of Scholars are first-generation college students
● 67% year-to-year persistence rate
● 56% of all Scholars graduated from WCCUSD high schools “I grew up feeling like I shouldn’t be attending a well respected university, but I am, and I have Richmond
Promise to thank for their aid and belief in me. ”
- Olinda (pictured left)
Richmond Promise Scholars have attended more than 220 colleges and universities around the country. 70% of Scholars attend four-year institutions. 89% attend public institutions in California.
TOP INSTITUTIONS & SYSTEMS
“Richmond Promise has always played an important role in my college life by making sure that I’m doing what I have to do to in order to be successful and being there to support me whenever I need it. ” - Stefania (pictured right)
T op colleges by concentration of
current Scholars:
1. Contra Costa College - 20%
2. San Francisco State - 12%
3. UC Berkeley - 10%
4. UC Davis - 8%
5. San Jose State - 4%
T op education systems by
concentration of current Scholars:
1. UC System - 31%
2. CSU System - 28%
3. CA Community Colleges - 30%
4. AICCU (Private CA) - 5%
5. Out of state/other - 6%
OUR FIRST DECADE OF SUCCESS
PROGRAMS & SERVICES FINANCIAL & OPERATIONAL COLLEGE PROMISE LEADERSHIP ● 130 school site workshops or
visits on average per year
● 90% scholarship claim rate
(2020 - 2025)
● 240+ student employees hired
since 2016
● $14+ million paid in
scholarships since 2016
● $27 million pledged in
scholarships since 2016
● White House visit and
recognition (2016)
● Host of PromiseNet national
conference (2019)
● Co-founder of the Northern
California College Promise
Coalition (2019)
● College Promise National
Leadership Council (2023)
● College Promise National Impact
Award (2025)
● $4+ million raised since 2016
● $4+ million earned in
investments since 2016
● Fundraising and investment
revenue covers 87% of all
non-scholarship expenses
● 4.3% average management &
general operations expenses
(2019 -2024)
KEEPING OUR PROMISE FOR YOUTH
Anchor funding needed to continue scholarship support
● Receiving at least $2.1 million per year to support scholarships will allow Richmond Promise to:
○ Award new scholarship recipients beyond 2027
○ Evolve our scholarship to better meet the needs of students and families
○ Evolve our programming to more effectively bridge service gaps within WCCUSD and our local education ecosystem
○ Pursue fundraising strategies that support student outcomes instead of organizational sustainability
“Richmond Promise has not only been a financial blessing for my education by reducing the weight of the amount of tuition I have to pay but they have also provided resources and support that I can take advantage of while in school. ” - Kynnedy (pictured right)
KEEPING OUR PROMISE FOR YOUTH
Additional funding allows us to deepen our impact for the community ● Explore beginning Richmond Promise cohorts in high school ● Deepen engagement requirements to better support postsecondary success
● Increase the amount of the scholarship to adjust for inflation and raising cost of higher education
● Right-size Scholar cohorts while still maintaining a non-competitive, community-wide model
● Deepen local workforce partnerships to create more opportunities for Scholars to begin careers in Richmond
“Richmond Promise has helped my family and I with paying tuition. Although Richmond Promise is known for its
scholarship, they have amazing resources such as mentors. ” - Luis (pictured right)
Wells
Fargo
logo
Richmond Promise Growth Projections – Impact of support from City of Richmond The following represents projections of values tied to a study of Richmond Promise financial performance and budget planning for the next 10 years.
Outlook of Current Scenario –
• 5 ½ years remaining life expectancy of organization
• Lack of additional supports limits near term fundraising development enhancement efforts • Only 2 more classes of scholarship recipients able to achieve full matriculation (2026 & 2027) Scenario One: No Support from City of Richmond
Prepared by Wells Fargo Advisors
Wells
Fargo
logo
Richmond Promise Growth Projections – Impact of support from City of Richmond The following represents projections of values tied to a study of Richmond Promise financial performance and budget planning for the next 10 years and includes 5 years of financial support from the City of Richmond.
Outlook of Scenario Two
• Establishes 65% longer lifespan for the organization – from 2031 through most of 2035 • Opportunity to bolster fundraising team to enhance future philanthropic support – path to sustainability • Allows for full matriculation of 5 additional classes of student scholarship recipients • Promotion of partnership and community support – use this gift for local/regional promotion of city support of direct resident benefit program
Scenario Two: $2,100,000 annually for five years from City of Richmond
Prepared by Wells Fargo Advisors
COMMITTED TO SUSTAINABILITY
Strategies to support long-term fund sustainability
● Raise $3 - $5 million per year beginning in 2026 through ○ Anchor funding for scholarships
○ Exploring quasi-endowment and other growth focused investment strategies ○ Diversified and expanded donor portfolio
● Reducing or eliminating underutilized programs and services ● Consolidating services and adopting a more cost efficient casework model ● Enter new partnerships to combine services, costs, and capacity
RICHMOND PROMISE FACES CLOSURE
● Without new anchor funding for scholarships by 2026, Richmond Promise must consider:
○ Closing the scholarship to new applicants beginning as early as the class of 2027 ○ Eliminating programs that support postsecondary access and awareness, including programs that close service gaps within WCCUSD
○ Eliminating programs that support postsecondary matriculation and persistence, including programs that support Richmond students at Contra Costa College
○ Closing the organization by 2031 (if no changes are made to our service model) Without anchor funding, Richmond Promise faces closure by 2031
THANK YOU FOR YOUR LEADERSHIP
“Richmond Promise means to me that
my community wants me to succeed,
that I can become somebody with the
help of my town. ”
Caption: Edgar, a Richmond Promise alumnus,
poses for a photo in his SF State graduation cap
and stole in 2024.