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Bay Area Hybrid College Initiative

EIN 82-3461657 · Richmond, CA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong93 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

Rivet School's mission is to build and scale a new model of higher education that reliably enables traditionally underserved students to earn an affordable bachelor's degree in as little as two years, leading to a great first job and increased opportunity over time.

Income
$6.1 million
Spending
$4.9 million
Spent on programs
83%
Reserves
8.3 months of spending
Largest source of income
donations and private grants, 78%
Employees
43
Volunteers
8
Highest pay
$192,634, ceo

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 93 out of 100. Higher than 83% of charities in its peer group (education, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 8.3 months of spending.

  • Debt

    20 of 20

    It owes 8% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 20% of income.

  • Income trend

    15 of 15

    Income rose 43% on the year before.

  • Spending floor

    15 of 15

    83% of spending went to programs and raising each dollar of donations cost 5 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 74% of charities in its peer group (education, $1m to $10m).

  • Independent board

    25 of 25

    7 of 7 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $4.1 million spent. Rivet School was founded in 2018 with the mission of building a college experience designed entirely around the needs of real students. Our founding degree partner is Southern New Hampshire University, which offers a program called College for America, or CfA. Through CfA, enrollees earn their Associates of Arts or Bachelors of Arts degrees. In 2025, we continued executing on our ambitious strategy to grow and enroll 800 students annually by EOY 2026. We built on our past successes by exploring opportunities in our newest regions (Chicago and New Orleans), expanding our employer partnerships and programming (Educator and Healthcare Pathways), and refining our teams capacity to maximize outcomes for our students and graduates. (Continued at Schedule O.) Cont'd from Page 2: This multi-stage growth strategy is yielding results: 2025 was a record-breaking year for our Growth team and a clear signal that Rivet Schools model is resonating with learners and partners alike. Across the year, we generated more than 4,200 prospective learner leads nearly 1,000 more than in 2024. Over 1,800 of those leads came directly through partner referrals, while more than 2,000 were driven by our marketing efforts, including a growing presence on Instagram and TikTok. We welcomed our largest onboarding cohort to date, admitting 89 fellows for our fall term, and we enrolled 550 students throughout the year, putting us within striking distance of our big goal. A defining feature of our program work in 2025 was a much more rigorous and intentional use of caseload data to drive student success. This orientation was a key driver of our success this year. Each term in 2025, more than 70% of fellows earned eight or more credits the baseline we defined for meaningful degree progress and 81% of students earned a BA degree in 3 years or less. Prior to 2025, an average of just 53% of fellows met this threshold each term. In the fall, we hosted our largest BA graduation to date, celebrating more than 50 graduates who earned their bachelors degrees this year. As a team, we also marked a major organizational milestone: our 200th BA graduate. We also continue to achieve robust career outcomes: within 9 months after graduation, 73% of our alumni had secured a strong job (either a full-time job at an annual salary of $63,700 or higher, with employer-provided paid time off and/or health benefits, or enrolled in a graduate program or fellowship requiring a BA degree). Finally, thanks to our strong team of managers and intentional culture-building, our organization maintained a 95% voluntary retention rate and high levels of satisfaction, with scores like "I am satisfied with the progress we're making as an organization" receiving a 4.5 out of 5, and "I would recommend Rivet School as a great place to work" achieving a 4.8 out of 5, with a 100% response rate each quarter.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 2018.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.