2010 KIPP Delta Public Schools Annual Report

KIPP Delta Public Schools | 2010 Annual Report

THIS REPORT IS DEDICATED TO THE CLASS OF 2010, THE BELIEVERS. YOUR HARD WORK AND LEADERSHIP HAS SET A HIGH STANDARD TOWARDS WHICH ALL OTHER CLASSES WILL ENDEAVOR.

KIPP Delta Public Schools | www.kippdelta.org | 03

IF YOU REALLY WANT TO DO

SOMETHING, KIPP WILL WORK THEIR HARDEST TO HELP

MAKE IT A REALITY, TO GIVE US THE

OPPORTUNITIES TO SUCCEED.”

—ROY WILLIAMS,CLASS OF 2012

GREETINGS FROM KIPP DELTA

KIPP stands for Knowledge Is Power Program, but KIPP is much more than the name of the school we attend, it is a concrete belief system. We believe that every child will have an opportunity to receive an excellent education regardless of their environment or circumstances. Students at KIPP Delta take pride in their education and strive to be the best they can be.

One would think that having class from 7:30 to 4, sometimes even staying at school until 7 in the evening, would turn students away. For those of us making the KIPP Commitment to Excellence, we know that our education is valuable and that spending this extra time in class is worthwhile. My KIPP teammates would agree that hard work and determination are the keys to a successful journey at KIPP Delta and beyond. We understand that “Knowledge is Power”, and that understanding is taking both present and future KIPPsters down extraordinary educational paths.

The founding KIPP Delta Class of 2010 has graduated and moved on to the next phase of their educational journey, leaving behind a legacy that my teammates in the Class of 2011 will strive to maintain. Our class understands the high standards that are set before us, and because of their leadership, we better appreciate the importance of our education. We see the impact that our hard work can and will have on our future aspirations. The first graduating class also showed us that we, as students, are not the only people affected by our actions. Our family and friends also benefit when we overcome obstacles and reach new heights. The hard work we put forth pays off in unimaginable ways for our community and the people here.

In this report you can read about all the things my teammates have accomplished over the last year, both in and outside the classroom, as we work toward our goals. Our success is possible because we have supportive teachers and thoughtful outside contributors, like you. Please accept my sincere thanks on behalf of all the students at KIPP Delta Public Schools. We appreciate all you do to see us reach our potential and achieve greatness.

Sincerely,

KEITH WADE / CLASS OF 2011

04 | KIPP Delta Public Schools | 2010 Annual Report

HIGHLIGHTS2009-2010


At KIPP, we bel ieve that promises to chi ldren are sacred. When

the Class of 2010 began their f irst day of f i fth grade at KIPP

Delta Col lege Prep eight years ago, they were told that through

hard work and perseverance, they would go to col lege in 2010.

That promise was fulf i l led on May 20, 2010 when 100% of the

Class of 2010 graduated f rom KIPP Delta Col legiate with an

acceptance letter f rom a four -year col lege or university.

Kindergarten students increased by an average of 37 percenti le

points in Reading, and 28 percenti le points in Mathematics

between the Fal l and Spring at Delta Elementar y Literacy

Academy according to the Measure of Academic Progress test .

DCPS students outperformed the local school distr ict in 100% of

tested areas in grades 5 -8. DCPS was a lso named one of the state ’s

“Higher -Performing Middle Schools” by the National Center for

Educational Achievement.

Over 500 students attended a KIPP Delta school this year.

Each year we are increasing the number of seats avai lable at our

r igorous, col lege -preparator y schools and planning expansion into

new rural communities across the Arkansas Delta . Our goal is to

double the number of col lege -ready seniors graduating f rom high

poverty distr icts in Eastern Arkansas by the year 2019.

OPENING DOORS


KIPP Delta is committed to opening doors to opportunity for all students. We recognize that every child has a unique set of interests, skills, and talents, which is why we strive to offer a diverse array of academic and extracurricular opportunities. Whether it’s participating in a full-immersion Spanish class in first grade, competing at a statewide chess tournament in middle school, or designing and building an electric car to win a national race competition in high school (pictured here), we believe a fundamental piece of a student’s education is exposure to new ideas and opportunities outside of our school walls.

One way for students to gain exposure outside of school is through summer programs offered by colleges, boarding schools, and specialty camps around the country. KIPP Delta students have been accepted into summer programs such as the summer institute at the US Naval Academy, the KIPP Step program at Deerfield Academy, and the Aspirnaut Initiative at Vanderbilt University’s Medical Center.

OPENING DOORS


The entire class of rising 10th grade students at Delta Collegiate also attends a week-long session at theUniversity of Arkansas each year to get in-depth exposure to the rigors of the college experience.

KIPP Delta students have also been awarded once-in-a-lifetime opportunities through national and regional competitions. Five Delta Collegiate students were selected through a statewide essay competition to meet with Former Secretary of State Madeline Albright and attend a state dinner in Little Rock this year. An outstanding DCPS student, Jukurious Davis, was one of only 50 students nationwide to be accepted into the prestigious Jack Kent Cooke Foundation Young Scholars Program. This program will provide a full ride to the high school and college of his choice, AND guaranteed funding through graduate school. Jukurious is attending St. Paul’s boarding school in New Hampshire this fall.

Local businesses play an important role in allowing students to apply what they learn in the classroom to real-life situations. This year a group of DCPS middle school students worked with the Quapaw Canoe Company all year to design and hand-carve a wooden canoe from a single log. Programs like this help students develop a love for learning while exposing them to new career options and preparing them for the rigors of college coursework.

FOR STUDENTS


FOR TEACHERSAttracting and retaining talented teachers is one of the most important factors influencing the success of our students. Our goal is to retain at least 75% of teachers each school year, a metric we achieved across our schools last year. We strive to offer meaningful professional and leadership development opportunities so that teachers can improve their content knowledge and advance their professional careers. The KIPP School Leadership Program (KSLP) is a national program that offers five different leadership pathways and provides individualized professional development. Teachers in the KIPP network of schools also have the opportunity to participate in content retreats, utilize online data analysis tools, and leverage a “community of practice” for sharing and learning with teachers around the country.

Fifth grade teacher Shavonne Ward, pictured at right, is a graduate of KIPP Academy Middle School in the Bronx, New York. Ms. Ward earned her degree in Psychology from Hobart and William Smith Colleges in 2009 and came to KIPP Delta through Teach for America. KIPP Delta is proud to have a KIPP alum now teaching in our classrooms and helping to open doors for our students.

IN NEW COMMUNITIESIn November 2009, KIPP Delta took the next step toward opening doors in new communities across the Delta. The Arkansas Board of Education unanimously voted to expand the KIPP Delta charter school system into Blytheville after reviewing the written application and hearing a presentation from Helena students on what KIPP has meant to them and enabled them to do. Helena students also spoke to the Blytheville Chamber of Commerce luncheon in February to answer questions from the community about life as a KIPPster. Blytheville College Preparatory School opened in July 2010 with 65 fifth-grade students after receiving exceptional support from the community.

Leaders around the state are also excited about the doors KIPP is opening for the regional economy. After presenting the Commencement Address at our first graduation ceremony in May, Arkansas Governor Mike Beebe wrote in his weekly address, “It’s worth repeating that KIPP Delta’s senior class is 100 percent college-bound. Imagine the changed face of our State if every single student pursued higher education. Imagine the companies we’d recruit, the good jobs we’d bring in, the positive growth we’d see in our communities.”

In the coming years we hope to open KIPP Delta schools in two additional communities so that more Eastern Arkansas students can have access to a rigorous, college-preparatory education.

Interested in joining our team and family?Visit www.kippdelta.org to learn more about becoming a KIPP Delta teacher,

staff member, student, parent, or supporter!

OPENING DOORS


OPENING DOORSIN THE DELTA

DELTA COLLEGIATE HIGH SCHOOLSCHOOL OVERVIEW

SCHOOL STATISTICS FOR THE 2009-2010 SCHOOL YEARGrades served: 9-12

Student enrollment: 153

Number of Classroom Teachers: 14 FTE

Number of staff other than Teachers: 2.5

EnglishAmerican HistoryWorld HistoryCivics Biology ChemistryPhysicsEnvironmental ScienceAnatomyPrinciples Of EngineeringAlgebra I And IIGeometry Pre-Calculus/TrigonometryComputer MathStatistics

Spanish I - III Art Instrumental Music & Advanced MusicChoir Computer Business ApplicationsPC DiagnosticsPC Engineering TechnologyOral CommunicationsDrama (Intro And Advanced)Journalism PE & Health Criminal Justice & Law Enforcement Human BehaviorsMedical Procedures & Professions Medical Terminology

Advanced Placement Course Offerings:Language And CompositionLiterature And CompositionUS HistoryPhysics BCalculus AB And BC

At Delta Collegiate we strive to foster a culture of achievement with compassion. Our students are challenged to work harder and be nicer every day. Beginning in the ninth grade students work to set individual goals for their GPA, identify job shadowing or internship opportunities, and establish financial plans based on the school they want to attend and the field of study they want to pursue. Laying out this roadmap to success early on helps students achieve their long-term goals and ensure a successful journey through college and on to a life of value, joy and integrity.

ACADEMIC OFFERINGS:


SCHOOL VALUES: HOPE. SELF-CONTROL. PERSISTENCE. SOCIAL INTELLIGENCE. INTEGRITY.

NO19%

YES81%

NO93%

YES7%

MALE

41%

FEMALE

59%BLACK95%

WHITE4%

ASIAN1%

RACE/ETHNICITY GENDER RECEIVE SPECIAL EDUCATION SERVICES

ELIGIBLE FOR FREE/REDUCED PRICE MEALS

DELTA COLLEGIATE HIGH SCHOOL


ACADEMIC RESULTS:The State of Arkansas administers End-of-Course Exams for Grade 11 Literacy, Algebra I, Geometry, and Biology. These tests assess a student’s mastery of a set of academic skills established by the state & how well our students performed in a given year as compared to local district and state averages.

Arkansas End-of-Course Exams

9th Grade SAT10 Test Results for Districts in Arkansas Delta Region

KIPP DELTA COLLEGIATE

HELENA-WEST HELENA

STATE


H-W H

STATE


HELENA-WEST HELENA

STATE


HELENA-WEST HELENA

STATE

11TH LITERACY

BIOLOGY

GEOMETRY

ALGEBRA 1


BRINKLEY

HELENA-WEST HELENA

FORREST CITY

BARTON

MARVELL

LEE COUNTY


BRINKLEY

HELENA-WEST HELENA

FORREST CITY

BARTON

MARVELL

LEE COUNTY

READING MATH

Percent Proficient or Advanced

Percentile Rank Percentile Rank


DELTA COLLEGIATE HIGH SCHOOLSCHOOL OVERVIEW

The first class of KIPP Delta students graduated from Delta Collegiate High School in May 2010. These KIPPsters are continuing their journey at the following colleges and universities:

Bennett College for WomenDelta State UniversityHenderson State UniversityHendrix CollegePhillips County Community CollegeSavannah Technical College

University of Arkansas at FayettevilleUniversity of Arkansas at Pine BluffUniversity of Central ArkansasUniversity of MemphisUnited States Naval AcademyVanderbilt University

20.3

21.0

22.7

AVERAGE ACT SCORES & PARTICIPATION RATE FOR THE CLASS OF 2010

AVERAGE ACT SCORE

100%

75%

50%

25%

0%16 21 26 31 36

%A

CT

PA

RT

ICIP

AT

ION

RA

TE

CLASS OF 2010 POST-GRADUATE MATRICULATION

4-year college or university

2-year college

13%

87%


NATIONAL

ARKANSAS


DELTA COLLEGIATE HIGH SCHOOL


DCPS is opening doors to college by providing a structured learning environment that maximizes timeon task and tenaciously tackles the objective of closing the achievement gap. Teachers focus on building a strong foundation in math, reading, and science for every student and provide differentiated instruction to reach all students at their level. Through the arts, extracurricular activities such as sports, drum line, and canoeing, and trips to both in & out-of-state destinations, our students are exposed to a breadth of opportunities that will spark their imaginations and help them dream bigger dreams.

SCHOOL STATISTICS FOR THE 2009-2010 SCHOOL YEARGrades served: 5-8



Number of staff other than Teachers: 3

SCHOOL VALUES: WORK HARD. BE NICE. OPEN-MINDEDNESS. INTEGRITY. RESPONSIBILITY.

Language ArtsReading EnrichmentMathematics (Saxon 5/6, 7/8, Algebra & Geometry)Science

ACADEMIC OFFERINGS:

DELTA COLLEGE PREPARATORYSCHOOL OVERVIEW



BLACK99%

WHITE1%

MALE

39%FEMALE

61%

YES3%

NO97%

NO15%

YES85%

Basketball | Volleyball | Soccer | Drumline | Stepteam | Drama | Knitting | Scouts | Art | Rugby | Music Guitar | Chess | Photography | Cross country | Debate | Student Store | Student Government | NewspaperYearbook | Choir | Canoeing & Canoe Making | Student Ambassadors

Social StudiesArtCareerKeyboarding

MusicPhysical EducationTechnology

EXTRACURRICULAR ACTIVITIES (Available at all KIPP Delta schools)


ACADEMIC RESULTS:The State of Arkansas administers the Benchmark Exam each spring to all public school students in grades 3 – 8. This data shows the percent of students scoring Proficient or Advanced on the exam and provides a valuable snapshot of our students’ progress toward college readiness.

DELTA COLLEGE PREPARATORY

FIFTH GRADE

KIPP DELTA COLLEGE PREP

HELENA-WEST HELENA

STATE


HELENA-WEST HELENA

STATE


HELENA-WEST HELENA

STATE M

AT

H L

ITE

RA

CY

S

CIE

NC

E

Arkansas Benchmark Exam


SEVENTH GRADE


H-W H

STATE


HELENA-WEST HELENA

STATE


HELENA-WEST HELENA

STATE M

AT

H L

ITE

RA

CY

S

CIE

NC

E


SIXTH GRADE


HELENA-WEST HELENA

STATE


HELENA-WEST HELENA

STATE M

AT

H L

ITE

RA

CY


EIGHTH GRADE

M

AT

H L

ITE

RA

CY



HELENA-WEST HELENA

STATE


HELENA-WEST HELENA

STATE


ACADEMIC OFFERINGS:Reading | Writing | Mathematics | Full-Immersion Spanish | Science | Social Studies | Physical EducationComputer Lab for Literacy & Math Practice | Recess

Although the Class of 2022 has just completed Kindergarten, they know that 2022 is the year they are going to college. To prepare students for this journey, KIPP Delta ELA teachers focus on helping students grow into independent thinkers with a passion for discovery. “Try it Again!” is a phrase commonly heard in our classrooms – students are learning early to be persistent and strive for excellence. KIPP Delta ELA students will enter middle school with a solid foundation of literacy skills and reading strategies that will allow for success in any academic area of study.

SCHOOL STATISTICS FOR THE 2009-2010 SCHOOL YEARGrades served: K - 1



Number of staff other than Teachers: 2

SCHOOL VALUES: LOVE LEARNING. INQUIRE. TELL THE TRUTH.EXPLORE. RESPECT. ACHIEVE. CARE. YEARN.

READING GROWTH



ELEMENTARY LITERACY ACADEMYSCHOOL OVERVIEW

BLACK95%

WHITE3%

LATINO2%

MALE

48%FEMALE

52%

YES1%

NO99%

NO6%

YES94%

All ELA students took Measures of Academic Progress (MAP), an adaptive standardized assessment that tracks students’ academic achievement and growth. Our focus on reading, specifically phonics and phonemic awareness, allowed both grades to experience growth in reading. Based on the MAP assessment, our Kindergarten class entered ELA in the 25th percentile and finished the year in the 61st percentile. Fall and Spring average percentile ranks reflect only students who took both fall and spring tests (matched students) in order to demonstrate progress made by students who were at KIPP Delta Elementary for a full year.


ACADEMIC RESULTS:The Metropolitan Achievement Test, Eighth Edition (MAT8) and the Stanford 10 Achievement Test (SAT10) are norm-referenced tests administered by the State of Arkansas in Kindergarten and first grade, respectively. These tests are used to make comparisons between the performance of Delta ELA students and their peers taking the same test. The Percentile Rank is a comparison of our students’ scores with others who took the same test.

ELEMENTARY LITERACY ACADEMY

Kindergarten - MAT8 TEST

KIPP DELTA ELA

LEE COUNTY

FORREST CITY

BRINKLEY

MARVELL

BARTON

HELENA-WEST HELENA

KIPP DELTA ELA

LEE COUNTY

FORREST CITY

BRINKLEY

MARVELL

BARTON

HELENA-WEST HELENA

SOUNDS & PRINT MATHEMATICS

1st Grade - SAT10 Test

KIPP DELTA ELA

MARVELL

FORREST CITY

LEE COUNTY

BRINKLEY

HELENA-WEST HELENA

BARTON

KIPP DELTA ELA

MARVELL

FORREST CITY

LEE COUNTY

BRINKLEY

HELENA-WEST HELENA

BARTON

MATHREADING

Percentile RankPercentile Rank

Percentile Rank Percentile Rank

KINDERGARTEN

Percentile Rank

FALL 2009

SPRING 2010

25

61

FIRST GRADE

Percentile Rank

FALL 2009

SPRING 2010

60

65



F I N A N C I A L S

“MY SCHOOL HAS ENHANCED MY HUNGER

FOR SUCCESS, AND IT HAS MADE ME

CONFIDENT IN MYSELF…IT HAS HELPED ME

TO CARE ABOUT MY EDUCATION AND MY

FUTURE.”

—JUKURIOUS DAVISCLASS OF 2014

ASSETSCash and cash equivalents $1,169,541Intergovernmental receivable 697,713Pledges receivable 954,137Property and equipment, net 7,838,560

Total assets $10,659,951

LIABILITIES / NET ASSETSL I A B I L I T I E S

Accounts payable $69,939Accrued interest payable 22,036Deferred revenue 842,500Notes payable, current 880,741Long-term debt 4,212,012

Total liabilities $6,027,227

F U N D B A L A N C E

Unrestricted $4,751,413Current earnings/(loss) (118,689)Total fund balance $4,632,724

Total liabilities and fund balance $10,659,951

REVENUESState foundation (per pupil funding) $3,095,847Other state revenue (NSLA, State PD & Pathwise) 438,807Federal assistance 1,001,086Grants, donations, and fundraising 1,151,703

Total Revenues $5,687,443

EXPENDITURESSalaries & Benefits $3,184,933Student related expenses 372,187Staff development 158,971Facilities maintenance 297,092Student transportation 264,956Debt service (interest only) 230,889Other operations (food service, fundraising, office, etc.) 1,297,105

Total Expenditures $5,806,132

Change in Net Assets $(118,689)


KIPP Delta would like to thank the following individuals, foundations, and businesses who supported our students during the last school year (2009-2010) through both financial and in-kind donations. Your continued generosity is opening doors for more and more students across the Delta.

KIPP SCHOLARS{GIFTS OF $100,000 OR MORE}

The Walton Family FoundationThe Louis Calder FoundationArkansas Department of EducationU.S. Department of EducationCharter School Growth Fund DOCTORATE LEVEL{GIFTS OF $25,000 OR MORE}

Tom & Winnie FaustMichael MortonNORAC, Inc.Southern Bancorp MASTERS LEVEL{GIFTS OF $10,000 OR MORE}

Mark EdgarEntergyMississippi County Arkansas Economic Opportunity CommissionNucor Hickman and Nucor Yamato Steel GRADUATE LEVEL{GIFTS OF $5,000 OR MORE}

AnonymousErnest & Cathy CunninghamGordon & Claire ManleyThe KIPP FoundationLexicon, Inc.Shelia & Carl PhippsScott & Angela ShireySystems Contracting Corporation UNDERGRADUATE LEVEL{GIFTS OF $1,000 OR MORE}

M. Christine AllenAnonymousBrent & Jessica BlackDr. & Mrs. Marion ChurchMarty & Janie CocoCotter & Edie CunninghamBrett DixonSteve & Laura EdwardsIgnacio GonzalezGraeber FoundationHargraves Insurance Agency, Inc.Bev & Norma HargravesHickory Hill PharmacyHudson Cisne & Co. LLP

John & Anne KingShen LimChalk MitchellTurley Charitable TrustLuke & Jamie VanDeWalleMark & Angela WaldripYounger FoundationRandy Zook & Diane Dixon KIPPster LEVEL{GIFTS UP TO $1,000}

John Ahlen & FamilyChris Meyers AschRhesa & Claire BarksdaleRichard BarthDrew & Ginny BlankenshipJason BotelDr. & Mrs. Renie BressinckBSI Building Systems, Inc.Kathleen BuntonThorne & Kelly ButlerMary C. ColburnE.D. & Elizabeth CookKatie CordanoSuttiwan CoxBaker & Ashley CunninghamLynn Rankin DaviesWilliam & LaVerne FeasterWinston P. FosterDavid & Anita GrossbardMichael HasslerMr. & Mrs. Dick HatfieldSherese HicksTommy & Shelby HillmanIda HoneycuttGrace HuMike & Janet HuckabeeSue HudsonAsa & Susan HutchinsonCurtis & Pat JeffriesSanford & Amanda JohnsonW.C. & Everlyn JohnsonGreg KazaSenator Blanche & Dr. Steve LincolnNashid MadyunBilly & Betty MitchellLula NunnRon Nurnberg & Joe OsgoodeDavid RaymanReddit.comLauren SchmittTim & Liz Schuringa

John & Blakeslee ShireyBetty Sisk-WatsonAnna SkorupaDavid P. SolomonDavid & Miriam SolomonRaymond & Carol SolomonCarol ThompsonMichael & Lee ThompsonElizabeth L. ThorndikeJim & Sharese TisbyJames & Abbey TootleDorothy UmfressJimmy & Peggy WebsterElizabeth WellbornAbigail WilburnWild Hog Music FestivalWitsell, Evans and RascoEd Pat & Betsy WrightMaisie WrightMike & Julie WrightPeter & Penelope Wright

VOLUNTEERSSpecial thanks to our incredible volunteers from City Year-Little Rock and Nomura Holdings, Inc.

A special thanks to our KIPP Delta board members for their tireless support of our schools:

Chalk Mitchell (President), AttorneyBrent Black (Vice President), Southern BancorpChris Allen (Secretary), Entergy ArkansasSam Commella, Nucor SteelRon Nurnberg, Teach For AmericaAndre Valley, AttorneyRandy Zook, Arkansas State Chamber of Commerce and Associated Industries of Arkansas Credit for the beautiful photography in this report goes to Cade Collister of Southern Bancorp, The Arkansas Democrat-Gazette, and Dave Anderson, www.dbanderson.com

OUR SINCERE THANKS


KIPP Delta is proving that it is possible to transform lives and communities in impoverished, rural areas like the Delta. We provide a structured learning environment, rigorous standards, and countless opportunities for students to gain exposure outside our school walls. In order to provide this high-caliber education to more students, we must overcome special challenges in securing facilities and talent. As public charter schools, our schools do not receive state funding for facilities or transportation and cannot levy local taxes to make up the difference. An investment in one of the following areas at KIPP Delta can have a huge impact on an entire region that is too often overlooked.

Facilities: Permanent school buildings are needed for students in Helena and

Blytheville.

Expansion: Approximately $14.4 million is needed over the next seven years to

fund the start-up of new schools, sustain existing schools, and expand our central

office to support those schools.

Talent Recruitment and Retention: Our rural school locations pose unique

challenges in recruiting and retaining excellent teachers and staff. Funding

is needed to provide high-quality professional development and enrichment

opportunities for our current team members, while also promoting the incredible

personal and professional experiences that are available in our communities for

newcomers to the KIPP Delta family.

Extracurricular Activities: Our schools must have the resources to provide

a variety of extracurricular activities for students. Well-run, rigorous sports

teams and activities such as drama, chess, and student government provide vital

opportunities for students to develop the character and communications skills

they need to be successful in life.

KIPP Through College: To ensure that financial hardship is not the reason

students do not attend the college of their choice, KIPP Delta will create an

endowment for college scholarships and to support our high school students as

they prepare college, scholarship, and pre-college summer program applications.

HOW YOU CAN HELP

If you would like to join KIPP Delta in opening doors for more students, teachers, and communities in Arkansas, please call 870-753-9035, or visit our website at www.kippdelta.org


Opening Doors to College.

“That these students have BEATEN THE STATISTICS

is a tribute to their HARD WORK

and DETERMINATION.

But the biggest legacy for this first graduating class

will be the classes that follow them at KIPP,

waiting for their own chance

to REALIZE THEIR OWN POTENTIAL for success.”

– Arkansas Governor Mike Beebe

KIPP DELTA PUBLIC SCHOOLS415 Ohio Street | Helena-West Helena, AR 72342 | 870.753.9035 | www.kippdelta.org

KIPP Delta, Inc., is an equal opportunity provider and employer.

Documents

2010 KIPP Delta Public Schools Annual Report