The purpose of this study was to identify predictors of depressive symptoms among adolescents using concepts drawn from two theoretical models that underlie popular youth-focused programs. Specifically, we assessed the degree to which family-level risk factors increase the likelihood of depressive symptoms, and the degree to which community and/or school-level protective/promotive factors either buffer against risk, or directly lead to lower levels of depressive symptoms. Results indicate that three of the four hypothesized risk factors were associated with elevated levels of depressive symptoms. In addition, the protective/promotive factors had more promotive than protective effects because they were directly related to lower levels of symptoms. Implications for youth-focused programming are discussed.