PREPARE, implemented by High Point University, was a Teacher Quality Partnership grant offering a Master of Education for elementary education, secondary mathematics, and special education (in grant years 2-5). The residency model included a living wage stipend to support time spent earning the accelerated master's degree. The PREPARE impact evaluation utilized a multi-year, multiple-cohort quasi-experimental design (QED) to examine the effect of a teacher residency master's program on teacher evaluations during the first one to three beginning teacher years (North Carolina Educator Evaluation System, 2 scales) (NCEES) and impact on student academic growth using the education value-added scale (EVAAS). Baseline equivalence was achieved by aligning treatment and comparison beginning teachers through full-method propensity score matching with replacement based on grade level and/or subject area teaching. Results showed that in the treatment group, NCEES mean ratings for both content and pedagogy increased in each subsequent cohort. In the comparison group, mean ratings declined in each subsequent cohort. The improvement in evaluation ratings by cohort is likely a result of improved instruction and returning to in-person coursework and teaching after the isolation of residency students during the COVID-19 pandemic. Students in the PREPARE program Cohort 1 (2020-2021) experienced COVID-related hybrid instruction. Many of these restrictions were lifted for Cohort 2 (2021-2022) and instruction returned to all in-person for Cohort 3 (2022-2023). Results of the analyses of EVAAS data for secondary teachers showed significant effects for the cohort covariate. When an interaction term between the treatment and cohort variables was added to the model, cohort remained significant, but the treatment and interaction terms were not significant. This indicates that beyond the effect of being in the treatment group, the school year of the intervention had an impact on the EVAAS outcome scores. Our implementation analysis found positive results for the preparation and induction support provided by the IHEs. Additionally, the program was implemented with high fidelity in four of the five years. The COVID year was not scored as many of the planned items were either not completed or were modified. Retention of beginning teachers after one year was good at 90% but fell to 73% by the end of year three. Both results were below our targeted threshold of 95% and 85%. Overall, the program successfully graduated 94 teachers. An additional 12 were enrolled in coursework at the time of this report. The partnerships among the two IHEs and two LEAs benefitted the teacher residents, beginning teachers, and the students in the classrooms compared to teachers not trained in PREPARE.