Is PEAK an acronym or does it have some other significance?
PEAK, which was named in the days following Peter Ewbank’s death, is shorthand for Peter Ewbank: Always KIPP. The mountain imagery it implies underscores the college challenge our students face.
Is there a difference between PEAK and KIPP?
PEAK and KIPP are two distinct non-profits with complementary visions. While both organizations prioritize increasing underprivileged student success through college, PEAK’s unique extracurricular format and approach provides certain practical advantages for qualifying students. The nature of KIPP and PEAK’s partnership is further clarified here in a letter authored by KIPP Colorado’s executive director.
Is the PEAK Achievers program part of the KIPP curriculum?
No. The PEAK Achievers program content is developed and administered by KIPP professionals, but all costs and scholarships are born by the PEAK Foundation, a separate entity.
Does the IRS consider the PEAK Foundation a non-profit, tax-exempt organization?
Yes, the Foundation secured its 501(c)(3) certification in April 2015.
How much of PEAK Foundation’s budget is spent on actual student benefits versus overhead?
In our startup year, the organization’s program to expense ratio was at 80:20, owing largely to the fact that we confronted, as a newly-formed nonprofit, certain one-time expenses during our first twelve months of programming that we do not expect to face in the coming years. Overhead costs are projected to drop to 15% during the next 12 months of operation.
Does the Foundation have a paid staff and/or executive director?
No, the Foundation’s leadership works on an unpaid basis.
When and how are financial awards distributed to qualifying KIPP scholars?
All PEAK Achievers receive $500 awards as graduating high school seniors. A $10,000 four-year scholarship will be awarded to one student in each graduating class beginning in 2019 (when the first class of Achievers is slated to graduate from high school). Financial awards are banked with and distributed by The Denver Foundation, a third-party non-profit institution.
How will PEAK’s funding be sustained beyond the 2017-2018 academic year?
Private donations and continued volunteerism must carry PEAK Foundation until a successful multi-year track record can be evaluated by major philanthropic institutions and grant sources.
How is success of the PEAK Achievers program measured?
The far-reaching benefits will take several academic years to manifest themselves, as our students proceed during high school armed with the tools provided by the PEAK Achievers curriculum. Nearly twice as many student applicants have been received as openings are available due to funding constraints, so program demand has already outpaced supply – and that is only at one KIPP Colorado middle school campus.