HISPANIC SCHOLARSHIP FUND 2005 ANNUAL REPORT

HISPANIC SCHOLARSHIP FUND 2005 ANNUAL REPORT

THE HISPANIC SCHOLARSHIP FUND (HSF) IS THE NATION S LEADING ORGANIZATION SUPPORTING HISPANIC HIGHER EDUCATION. HSF WAS FOUNDED IN 1975 WITH A VISION TO STRENGTHEN THE COUNTRY BY ADVANCING COLLEGE EDUCATION AMONG HISPANIC AMERICANS THE LARGEST MINORITY SEGMENT OF THE U.S. POPULATION. IN SUPPORT OF ITS MISSION TO DOUBLE THE RATE OF HISPANICS EARNING COLLEGE DEGREES, HSF PROVIDES THE LATINO COMMUNITY MORE COLLEGE SCHOLARSHIPS AND EDUCATIONAL OUTREACH SUPPORT THAN ANY OTHER ORGANIZATION IN THE COUNTRY.

30 YEARS IS JUST THE START. DEAR FRIENDS, We are proud to celebrate the 30th anniversary of the Hispanic Scholarship Fund (HSF) and to share with you the report of our results and progress for the 2004 2005 academic and fiscal year. It was a successful year by all accounts. This year we awarded almost $25 million in scholarships to nearly 5,000 scholars of Hispanic American heritage. Outreach efforts are gaining strength and traction, and alumni are taking ever greater and more prominent roles in our programs. And our donor base is growing, as our development efforts become more sophisticated. But we still have much work to do (as you will see in the statistics in the next few pages of our report). We are undeterred by these challenges, and are steadfast in our mission to double the rate at which Latinos earn their college degrees because we understand that, to a large extent, our country s future depends on it. We believe that by helping students achieve their goals, we are not only bettering their education, but improving society as well. Realizing HSF s goal of doubling the rate of Hispanics graduating from college will also significantly reduce public expenditures on social services nationwide, and decrease the racial/ethnic divides that undermine social and political cohesion in our country. As the fastest growing segment of the U.S. workforce, increasing college graduation rates among Hispanics will lead to better paying jobs for more individuals, families, and communities. This will produce a sizeable increase in tax revenues including much needed support for Social Security and Medicare. Another benefit will be an increase in disposable income for Hispanic consumers, which will help fuel the country s future economic growth. Doubling the rate at which Hispanics earn college degrees (to only 18 percent) by 2010 would yield $7.6 billion in increased tax revenue over the lifetime of the graduates, and generate at least $14 billion in disposable income for savings, investment, and economic stimulus. HSF is building upon the successes and lessons of the past 30 years in working toward this goal. It is realistic, but requires the support of corporations, philanthropists, educators, and families. Together, we can change the lives of our brightest youth and create an impact on our society. Please join us in celebrating how far we have come in 30 years, while looking forward to increasing the number of Hispanic students who have access to a higher education. Sincerely, Dr. Roger Benjamin Chair, Board of Directors Sara Martinez Tucker President and CEO

UNLEASHING THE POTENTIAL OF HISPANIC YOUTH In 1975, a California educator, a civil servant and an archbishop from Texas came together to form the Hispanic Scholarship Fund. They came together because they believed that education was the key to economic and social equality for Hispanic Americans. They believed that the higher education of Latinos was vital to the strength of the country they loved. And they believed they could make a difference. They were right. Their commitment, and the student-centered model they created, remain clear guideposts for the organization today. Since 1997, the organization has been led by Sara Martinez Tucker, who left the corporate world to take the helm at HSF because she too believed. She believed that with a truly national presence, a sound business model, and solid business practices, including reporting return on investment, there would be no limit to HSF s potential. And the more HSF can do, the more likely Hispanic students are to achieve their potential. EVERY NUMBER HAS A FACE, AND EVERY FACE HAS A STORY.

A SOLID FOUNDATION At HSF, it s not just about getting kids into college, it s about improving their quality of life and fostering young adults who want to better the lives of people in their community. Educational Attainment Students involved in HSF Scholarship programs are able to achieve their degrees at a rate nearly four times greater than the U.S. completion average, and at a rate almost ten times greater than the Hispanic completion average. Median Income Approximately 88 percent of HSF Scholars who are not currently in school are earning above the national per capita median income. Over 59 percent are earning at least double the Hispanic per capita median income. Volunteer Work Currently 64 percent of HSF Scholars volunteer, which is 16 percent greater than the national rate, and 50 percent more than the national Hispanic rate. WE WANT EVERY CHILD S STORY TO BE ONE OF SUCCESS SETTING AND ACHIEVING GOALS.

VISION STRENGTHEN AMERICA BY ADVANCING THE HIGHER EDUCATION OF HISPANIC AMERICANS. DOUBLE THE RATE AT WHICH HISPANIC AMERICANS EARN THEIR COLLEGE DEGREES TO 18 PERCENT BY 2010. MISSION GOALS HOLD OURSELVES ACCOUNTABLE FOR INCREASING THE RATE AT WHICH LATINOS GET THEIR COLLEGE DEGREES, IMPACT THE HIGH SCHOOL-TO-COLLEGE TRANSITION RATE OF LATINO STUDENTS, AND AFFECT THE HIGH SCHOOL GRADUATION RATE OF LATINOS BY BRINGING COLLEGE PREPARATION PROGRAMS TO THE COMMUNITY.

IN 2000, 36 PERCENT OF HISPANIC HIGH SCHOOL GRADUATES AGES 18 TO 24 HAD ENROLLED IN COLLEGES AND UNIVERSITIES, COMPARED TO 44 PERCENT OF NON-HISPANIC WHITES. OUR MISSION IS TO INCREASE THE RATE OF HISPANIC COLLEGE GRAD- UATES TO 18 PERCENT BY 2010.

GOALS IN ACTION: MEASURING OUR EFFORTS WHY OUR MISSION MATTERS To impact the high school to college transition rate, HSF conducted outreach events across the country, touching over 29,000 Latino students and their families in 2004 2005. At HSF, succeeding is measured by the tangible outcomes of our efforts. We provide a number of outreach programs to the Hispanic community, including college preparatory workshops called Steps for Success Saturdays (S4S), informational Town Hall meetings, and pilot-parental engagements programs. HSF carefully monitors the impact of these efforts in order to continually improve our educational outreach support. We held eight Steps for Success Saturdays during 2004 2005. Approximately 88 percent of attendants that filled out the survey experienced an increase in their knowledge of how to apply and pay for college. Benefits and Costs of Fully Meeting the Goal Benefits Reduction in Expenditures Increase in Revenues Increase in Disposable Income Costs Costs of Increased Enrollments Potential Costs of Support Programs $0 5 10 15 20 25 30 Billions of Discounted Dollars A total of 52 Town Hall meetings were held in 2004 2005. This resulted in 98 percent of the parents HSF Strategies: Alternative strategies in combination are the only way to meet and exceed our goal experiencing an increase in their knowledge of how to prepare their child for college. Today 50% High School Programs 71% + 81% High School-College Transition Programs 60% + 80% College Retention Programs 64% All Strategies Combined 110% 0% 20 40 60 80 100 Percentage of Mission Accomplished

JUST OVER 11 PERCENT OF HISPANIC ADULTS HAVE A BACHELOR S DEGREE, COMPARED WITH 29 PERCENT OF NON-HISPANIC WHITES. OUR GOAL IS TO MAKE SURE MORE HISPANICS ENTER AND GRADUATE FROM COLLEGE. THIS TAKES MORE THAN JUST FINANCIAL ASSISTANCE. EACH STUDENT REQUIRES PERSONAL SUPPORT. IT TRULY TAKES A COMMUNITY.

GOALS IN ACTION: PROVIDING MORE SUPPORT 2004 2005 SCHOLAR CHAPTERS By providing support to college students and consistently measuring those results, we can help them succeed once they begin classes. Scholar Chapters HSF s Scholar Chapters are campus affinity organizations that help ensure that Latinos in college graduate. Programming focuses on four major areas: providing academic support, encouraging career and graduate school preparation, reaching out to ensure that younger Latinos are encouraged to pursue college, and mentoring on a college-level. Alumni Mentoring HSF matches Scholar Chapter participants with mentors from among our more than 31,000 alumni as well as the Latino professional community at large. According to Chapter members, academic and professional development through one-on-one relationships is one of the most valuable chapter benefits. In 2004 2005, 48 percent of Chapter participants were matched with a mentor. Of the respondents, 100 percent agreed that HSF Scholar Chapters were valuable student groups to have on their campus. According to 80 percent of respondents, participation in the Scholar Chapters raised interest in pursuing a graduate degree and also raised awareness of academic services/resources on campus. Locations Members* Participants** Attendees California State University, Bakersfield 15 34 97 California State University, Fresno 4 23 56 California State University, Fullerton 3 12 58 Columbia University 12 55 145 Harvard University 4 50 140 New York University 2 28 226 Stanford University 7 25 40 Texas A&M University 20 51 135 University of Arizona 10 147 230 University of California, Berkeley 27 88 206 University of California, Los Angeles 7 26 146 University of California, San Diego 5 29 47 University of Chicago 22 109 1,679 University of Florida 14 157 229 University of Miami 7 20 67 University of New Mexico 3 63 82 University of Southern California 2 46 82 University of Texas at Austin 16 141 266 University of Washington 2 29 42 Yale University 16 38 226 Total 198 1,171 4,199 * Scholar chapter members are students that have attended three or more scholar chapter meetings. ** Participants are students that have signed in at least once. The Attendee figure is a visual count by the chapter coordinator.

BY A 2:1 MARGIN, A LACK OF FINANCIAL RESOURCES IS THE NUMBER ONE REASON HISPANICS DROP OUT OR DO NOT PURSUE A COLLEGE DEGREE. IN 2004 2005 HSF AWARDED 4,982 SCHOLARSHIPS WORTH ALMOST $25 MILLION.

GOALS IN ACTION: MAKING A HIGHER EDUCATION AFFORDABLE ALASKA NORTHEAST Programs Scholarships Dollars Awarded High School 1,496 $ 3,660,878 Community College Transfer 574 1,299,915 College 1,080 2,716,483 HSF Institute 173 488,000 Gates Millennium Scholars 1,659 16,766,790 Total 4,982 $ 24,932,066 WEST MIDWEST SOUTHWEST SOUTHEAST Scholarships Awarded by Ethnicity Percentage GUAM HAWAII Caribbean 3% Cuban 3 Spanish 4 Central American 8 Puerto Rican 8 South American 10 Mexican American 64 PUERTO RICO / US VIRGIN ISLANDS From Low Income Families Yes 84% No 16 First Generation to College Yes 67% No 33 Scholarships Awarded by Disciplines Scholarship Distribution by Region West Southwest Midwest Southeast Northeast Total 2004 2005 Scholarships Awarded 1,937 1,510 431 742 362 4,982 Percentage of Total Scholarships 39% 30% 9% 15% 7% 100% Amount Awarded (in millions) $9.62 $7.20 $1.85 $3.84 $2.42 $24.93 Percentage of Total Awarded 39% 29% 7% 15% 10% 100% Legal Studies 3% Computer Related 4 Undeclared 4 Engineering 13 Sciences 15 Business 16 Health/Human Services 16 Liberal Arts 29

HISPANIC SCHOLARS NEED ROLE MODELS Now in its fourth year, the HSF Alumni Hall of Fame aims to inspire future generations of Latino college graduates by honoring five Latinos whose incredible stories, accomplishments, contributions, and lifetime challenges demonstrate the power of higher education and mentorship, as well as personify the mission and values of HSF. Each year, HSF selects four outstanding HSF Alumni who have received an HSF scholarship, and one individual. The inductees are selected in five categories: The Optimista (the Optimist), for success achieved through persistence in the face of adversity. The Altruista (the Humanitarian), for personifying the spirit of gratitude and the value of giving back. The Triunfador (the Victor), for realizing the ultimate professional achievement and for raising the bar. The Inspirador (the Motivator), for personifying the hard work and sacrifice made by Latino families in pursuit of a college education. Alumni Hall Of Fame Brillante, Alexandra Chirinos Law Student Inspirador, Ambassador Antonio O. Garza, Jr., U.S. Ambassador to Mexico Triunfador, Anthony Romero ACLU Executive Director Alruista, Cecilia Lozano Teacher Optimista, Maria Vidal de Haymes Professor The Brillante (the Rising Star), for personifying limitless potential. OUR PROOF IS OUR ALUMNI.

HSF IMPACTS MORE LIVES EVERY YEAR

HSF SCHOLARSHIP PROGRAMS HSF OUTREACH PROGRAMS The College Scholarship Program HSF helps a growing number of Hispanic students pursue their associate, bachelor, or graduate degrees. Within this program, HSF s Partnership and Internship Program (PIP) creates opportunities for Hispanic students by partnering with corporations and nonprofit organizations on collaborative scholarship and workforce development programs. HSF awarded $2,716,483 in college scholarships to 1,080 students during the 2004 2005 academic year. The Community College Transfer Scholarship Program HSF encourages students to move from community college to a four-year college. In 2004 2005, 574 community college students received HSF Community College Transfer awards totaling $1,299,915. The High School Scholarship Program Our organization encourages high school graduates to go to college with scholarships provided by community-based and corporate partnerships. In 2004 2005, a total of 1,496 high school students received $3,660,878 in HSF scholarships. The Gates Millennium Scholars Program Awards scholarships to exceptional high school seniors for studies in any discipline at the college of their choice through completion of their undergraduate studies. Extended funding for graduate study is available in the fields of science, mathematics, engineering, education, and library science. In the past year, 1,659 scholars received $16,766,790 in scholarships funded by the Bill & Melinda Gates Foundation. SCHOLAR SERVICES Town Hall Meetings These meetings are bilingual, multi-media sessions where students and their families gain inspiration and information about the value and affordability of a college education. Curriculum in these two-hour evening events covers the essentials of college preparation and financial aid. Participants are provided with supplemental materials in English or in Spanish, to help them follow-through with college planning at home. HSF hosted 52 Town Hall meetings across the nation in 2004 2005. Steps for Success Saturdays (S4S) A full day of hands-on specialized instruction, S4S offer a range of college preparatory workshops for high school students and their parents. This unique approach utilizes community volunteers as college-prep coaches, and has a customized track of concurrent workshops for students in each grade level. Activities range from intensive how-to instruction for the Scholastic Aptitude Test (SAT), to filling out the Free Application for Federal Student Aid (FAFSA), to writing a personal statement (essay) for a college application, to finding a college well-suited to the student s educational background and interests. In 2004 2005, eight S4S workshops were conducted across the country. Parental Engagement Workbook HSF continued its Parental Engagement Initiative with the distribution of a comprehensive, interactive workbook to be distributed at HSF Town Hall meetings nationwide. The workbook, a primer for Latino parents on higher education resources and the U.S. educational system, is a guide for parents as they seek to help their children graduate from high school and prepare for college. The Georgia Outreach Project This project seeks to improve college access for Latinos in Georgia by providing college prep programming, college scholarships, and student leadership development. This year, 48 participating scholars completed the first year of a unique and intensive four-year leadership development program. HSF Scholar Chapters HSF helps ensure the ultimate success of scholarship recipients and other students with on-campus support networks called Scholar Chapters. Chapters organize the activities and outreach to other Latino students on campus, while promoting academic excellence and building leadership skills. Student Chapter Coordinators receive specialized training at HSF s San Francisco facility. HSF maintained its presence at 20 Scholar Chapters in 2004 2005 HSF Alumni Mentoring Network HSF matches Scholar Chapter participants with mentors from among our more than 31,000 alumni, as well as the Latino professional community at large. According to Chapter members, academic and professional development through one-on-one relationships is one of the most valuable Chapter benefits. In 2004 2005, 48 percent of Chapter participants were matched with a mentor.

STATEMENT OF FINANCIAL POSITION Consolidated STATEMENT OF ACTIVITIES Consolidated Assets Unrestricted Temporarily Permanently Total Restricted Restricted Current Assets: Cash and cash equivalents $ 1,028,546 $ 1,028,546 Endowment investments 10,465,308 10,465,308 Marketable securities 2,271,632 8,849,052 11,120,684 Contributions receivable 26,500 16,248,102 16,274,602 Endowment contributions receivable - Prepaid expenses and other assets 143,639 143,639 Total current assets $ 3,470,317 $ 25,097,154 $ 10,465,308 $ 39,032,779 Marketable securities, long-term Other assets 19,358 $ 19,358 Lease deposit 500,000 $ 500,000 Contributions receivable, long-term, net 1,520,025 2,997 $ 1,523,022 Endowment contributions receivable, long-term, net $ - Property and equipment: Furniture and equipment 1,221,011 $ 1,221,011 Leasehold improvements 172,510 $ 172,510 Less: accumulated depreciation (918,197) $ (918,197) Net property and equipment $ 475,324 $ - $ - $ 475,324 Total assets $ 4,464,999 $ 126,617,179 $ 10,468,305 $ 41,550,483 Liabilities and net assets / Current liabilities: Bank overdraft $ 613,432 $ 613,432 Scholarships payable $ 1,455,519 $ 1,455,519 Accounts payable 343,028 343,028 Accrued expenses 180,419 180,419 Obligations under capital leases 106,003 106,003 Total current liabilities $ 2,698,401 - - $ 2,698,401 Long-term liabilities: Obligations under capital leases $ 100,820 $ 100,820 Total long-term liabilities $ 100,820 $ 100,820 Total liabilities $ 2,799,221 - - $ 2,799,221 Assets Unrestricted Temporarily Permanently Total Restricted Restricted Support and revenues Support: Contributions $ 1,811,881 $ 40,749,759 - $ 42,561,640 In-kind contributions 56,989-56,989 Interest income 316,742 92,827-409,569 Realized gain on investments, net (15,677) 140,289-124,612 Unrealized gain on investments, net 459,192-459,192 Net assets released from restrictions 30,976,610 (30,972,360) (4,250) - Total support and revenues $ 33,146,545 $ 10,469,707 (4,250) $ 43,612,002 Expenses and losses Program services: Scholarships $ 27,175,554 - - $ 27,175,554 Education and information 1,471,081 - - 1,471,081 Depreciation 101,466 - - 101,466 Loss on disposal of equipment - - - - Total program services $ 28,748,101 - - $ 28,748,101 Support services: Management and general $ 1,828,510 - - $ 1,828,510 Fund raising 2,600,002 - - 2,600,002 Depreciation 172,305 - - 172,305 Total support services 4,600,817 - - 4,600,817 Total expenses $ 33,348,918 - - $ 33,348,918 Losses: Uncollectible pledge expense $ $ 12,500 $ $ 12,500 Total expenses and loss 33,348,918 12,500 33,361,418 Change in net assets (202,373) 10,457,207 (4,250) 10,250,584 Net assets, beginning of year 1,868,151 16,159,972 10,472,555 28,500,678 Net assets, end of year $ 1,665,778 $ 26,617,179 $ 10,468,305 $ 38,751,262 Net assets: 1,665,778 26,617,179 10,468,305 $ 38,751,262 Total liabilities and net assets $ 4,464,999 $ 26,617,179 $ 10,468,305 $ 41,550,483 The financial statements have been reproduced from audited financial statements as of March 31, 2005. A complete set of audited financial statements and related disclosures is available upon request.

AND WE CAN T DO IT WITHOUT OUR SUPPORT

2004 2005 CORPORATE INVESTORS 2004 2005 INSTITUTIONAL SUPPORTERS Corporate cash and in-kind gifts, corporate workplace giving contributions, corporate matching giving. Private foundations, non-profit partners, employee association and non-corporate workplace giving contributions. $200,000+ Anheuser-Busch Cos., Inc. and Distributors Bank of America Foundation The Coca-Cola Company & The Coca-Cola Foundation Ford Motor Company General Motors Corporation $25,000 $49,999 American Express Foundation BellSouth Corporation Costco Wholesale GE Foundation Hispanic Association of NCR Employees Honeywell Raytheon Company Sara Lee Foundation Telemundo KVEA, Channel 52 Verizon Wireless Toyota Motor Sales, U.S.A., Inc. Workplace Campaign The Xerox Foundation $1,000,000+ Gates Millennium Scholars/UNCF Lilly Endowment Inc. $200,000 $999,999 The Broad Foundation Bill & Melinda Gates Foundation $10,000 $24,999 Anonymous The Aurelio Rodriguez Scholarship Fund Austin Hispanic Chamber of Commerce Educational Foundation Carrera-Joffe Foundation City of Los Angeles Workplace Campaign $5,000 $9,999 Anonymous AT&T HISPA Executive Council The Bravo Foundation Chicago Area Combined Federal Campaign Community Foundation of Sonoma County Georgia Ports Authority Hewlett-Packard Company HSBC North America The Procter & Gamble Company Sallie Mae Inc. $100,000 $199,999 Citigroup Foundation DaimlerChrysler Corporation Fund The Goldman Sachs Foundation Nationwide Insurance Nissan North America, Inc. The Sallie Mae Fund Target Stores Toyota Motor Sales, U.S.A., Inc. United Student Aid Funds, Inc. Verizon Foundation Wells Fargo $50,000 $99,999 AT&T Foundation Ernst & Young Foundation ExxonMobil General Mills Foundation Good Time Stores, Inc. JP Morgan Chase Kellogg Company Mazda Foundation (USA), Inc. The Roche Foundation State Farm Companies Foundation The UPS Foundation KISS, COX Radio May Department Stores Company Metropolitan Life Foundation Morgan Stanley Foundation Pfizer Pharmaceuticals Group The St. Paul Companies, Inc. Foundation Texas Instruments Foundation Univision Communications Inc. and Affiliates Time Warner, Inc. The Washington Mutual Foundation Wm. Wrigley Jr. Company Foundation $10,000 $24,999 Allstate Foundation American Honda Motor Company Amerigroup Foundation Asurion Insurance Services, Inc. AXA Foundation Inc. Bristol-Myers Squibb Foundation, Inc. Choice Hotels International Client Business Services Deluxe Corporation Foundation Federated Corporate Services, Inc. GE Aircraft Engines GMAC Atlanta IBM International Foundation Johnson & Johnson The Medtronic Foundation Microsoft Corporation Motorola Foundation $5,000 $9,999 Allstate Giving Campaign Bank of North Georgia Bridgestone/Firestone Trust Fund Celluphone Chevron Corporation Cingular Wireless Consultants Marketing Network Dixie Numerics LLC Eastman Kodak Company FedEx Corporation Fifth Third Bank Fox Entertainment Group Georgia Power Company GM R-Works Goodyear Tire & Rubber Company Hallmark Corporate Foundation House of Blues Entertainment The Kroger Company LG Infocomm U.S.A., Inc. Lockheed Martin Corporation Norsan Management, Inc. Principal Financial Group Foundation Robert Half International, Inc. S & B Infrastructure, Ltd. Sodexho Corporate Services SunTrust TCF Bank Valero Corporation Services Co. Lumina Foundation for Education The Peierls Foundation, Inc. Society of Hispanic Professional Engineers, Inc. $100,000 $199,999 California State University Bakersfield Foundation Chicago Public Schools Workplace Campaign The James Irvine Foundation W.K. Kellogg Foundation The New Mexico Alliance for Hispanic Education $50,000 $99,999 Little Village Chamber of Commerce Los Angeles Unified School District Workplace Campaign Rio Grande City Consolidated Independent School District $25,000 $49,999 American Express Employee Giving Chicanos Por La Causa, Inc. City of Chicago Workplace Campaign CSU, Sacramento - College Assistance Migrant Program Eastside Union High School John & Marcia Goldman Foundation National Hispanic Foundation for the Arts Noche de Becas Sacramento Hispanic Chamber of Commerce Dallas Hispanic Chamber of Commerce Foundation Dallas Independent School District Workplace Campaign Fort Worth Hispanic Chamber of Commerce Imperial Valley College Foundation Hispanic Bankers Foundation Hispanic Heritage Scholarship Fund of Metro Orlando Hispanic National Bar Foundation Margoes Foundation Mary Mae Foundation Michigan Hispanic Fund New United Motor Manufacturing, Inc. Workplace Campaign Northside Educational Foundation The Richard Eaton Foundation, Inc. The San Francisco Foundation Summer Search Toyota Motor Sales, U.S.A., Inc. Workplace Campaign United Way of Greater Los Angeles Greater Houston Community Foundation Kern County Hispanic Chamber of Commerce Foundation Los Angeles County Metropolitan Transportation Authority Workplace Campaign TOSA Foundation United Way of the Bay Area Campaign United Way of San Diego County Yes Preparatory School New United Motor Manufacturing, Inc. Workplace Campaign Product and service donors Nordstrom, Inc. Hewlett-Packard Company Northwestern Mutual Foundation Southwest Airlines PIMCO Publix Super Markets Charities

2004 2005 INDIVIDUAL SUPPORTERS HISTORIC STATE AWARDS 1975 2005 The Regents $10,000+ Every donor to the Hispanic Scholarship Fund is greatly appreciated. Individual donors who contribute $10,000 or more annually join The Regents, a critical leadership circle of supporters. The Regents inspire a broad community to take action to impact the college graduation rate of Latinos. HSF is proud to recognize individuals who contributed $10,000 or more between April 1, 2004 and March 31, 2005. Each of our contributors helps to enrich the education of thousands of students in each of the 50 states and many territories. State Scholarships Dollars Awarded State Scholarships Dollars Awarded Governors $100,000+ The McNamara Family Trustees $50,000 99,999 Adrienne Arsht Chancellors $25,000 49,999 Jeff Garcia Lou Sobh Provosts $10,000 24,999 Frank Alvarez Zachary E. Guevara Sara Martinez Tucker Matthew Stephen Rechtin Paul Rodriguez Dean s List $1,000 $9,999 HSF gratefully recognizes individual donors who contributed $1,000 or more between April 1, 2004 and March 31, 2005, thereby becoming a part of the HSF Dean s List HSF supporters who have gone above and beyond what is expected. $5,000 $9,999 Elizabeth Ferrer Ralph Lacher Roy Meza Xavier Neira Thomas A. Roupe $2,500 $4,999 Roger Benjamin Lynn Brockman Liz Castells-Heard Stan Lowe Matthew C. Osborne Patricia Pineda Lisa M. Quiroz The Reyes Family Trust Monica Rivera Raul R. Romero Jennifer Villegas and J. Andrew Sanford Donald and Mitzie Solberg José Antonio Torres/Banco Popular $1,000 $2,499 Anonymous Robert Allen Frank Clautice Barbarella Diaz George Farias Gore-Tanner Ramiro Gonzalez Nancy Hanley Alejandro Itkin Christopher Jones and Karen Quint Ralph and Yolanda Smith Kenney Charles Kuck Susan Kurland Philip J. & Carol J. Lyons Juan Carlos Macias Cynthia Morales Paul M. Ostergard F. Xavier Peña Jesus Rangel Robin and Nancy Rayner Matthew Romero Frank Ros David Savage Len Sherman Lionel and Kathy Sosa Ben Templin Maria E. Young Alabama 71 $ 186,713 Alaska 38 125,638 Arizona 1,977 3,940,884 Arkansas 95 237,824 California 21,481 48,698,686 Colorado 1,875 4,035,541 Connecticut 393 781,348 Delaware 35 70,310 District of Columbia 111 206,028 Florida 4,823 11,921,590 Georgia 818 2,235,089 Guam 3 19,609 Hawaii 66 100,418 Idaho 190 662,193 Illinois 3,770 8,308,989 Indiana 414 978,183 Iowa 177 379,012 Kansas 326 632,758 Kentucky 82 212,885 Louisiana 193 446,583 Maine 18 60,857 Maryland 405 1,518,353 Massachusetts 760 2,177,235 Michigan 546 1,465,792 Minnesota 296 519,033 Mississippi 42 98,592 Missouri 214 610,567 Montana 77 215,121 Nebraska 211 $ 525,565 Nevada 245 702,237 New Hampshire 39 99,703 New Jersey 1,642 3,968,918 New Mexico 3,120 6,084,334 New York 4,783 11,017,634 North Carolina 276 797,751 North Dakota 26 35,069 Ohio 391 1,010,567 Oklahoma 391 1,184,003 Oregon 388 1,680,282 Pennsylvania 514 1,298,601 Puerto Rico 2,807 5,759,441 Rhode Island 105 366,503 South Carolina 80 272,976 South Dakota 35 43,875 Tennessee 118 288,747 Texas 17,091 37,941,330 Utah 243 623,351 Vermont 22 92,501 Virginia 391 1,031,984 Virgin Islands 5 12,836 Washington 815 2,735,809 West Virginia 15 27,470 Wisconsin 361 942,981 Wyoming 134 282,424 Grand Total 73,544 $ 169,672,721.89

BOARD OF DIRECTORS, SENIOR STAFF, AND REGIONAL OFFICES Executive Committee Dr. Roger Benjamin, Chairman Council for Aid to Education Frank D. Alvarez, Vice Chairman Tucson Medical Center HealthCare Raul R. Romero, Secretary Alliance Consulting Group George L. Farias, Treasurer International Finance Holding Corporation Rudy M. Beserra, Past Chairman The Coca-Cola Company Sara Martinez Tucker President and CEO Hispanic Scholarship Fund Executive Officers Sara Martinez Tucker President and Chief Executive Officer Chris Jones Vice President of External Relations Directors Mario A. De Anda Director of Scholarship Programs Cathy Makunga Director, Gates Millennium Scholars Carolina Martín Director of Community and Scholar Relations Hilda Oropeza Director of Communications Board Members Alan DeCarr Toyota Motor Sales, U.S.A., Inc. Elizabeth Ferrer Bank of America Jeff Garcia NFL Quarterback Cheech Marin Actor, Director, Writer, Humanitarian James McNamara Panamax Films Lisa Quiroz Time Warner, Inc. Jesus Rangel Anheuser-Busch, Inc. Frank Ros The Coca-Cola Company Tom Roupe Goldman Sachs José Antonio Torres Banco Popular Chris Padula Director, Donor Relations Regional Offices Central California Fresno, CA Mid-Atlantic Washington, D.C. Midwest Chicago, IL Northeast New York, NY Southeast Atlanta, GA Southern California Los Angeles, CA Texas Austin, TX Design: Turner & Associates, San Francisco / Printing: Fong & Fong, Sacramento

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