An electrical assembly which includes a circuitized substrate including a first plurality of dielectric and electrically conductive circuit layers alternatively oriented in a stacked orientation, a thermal cooling structure bonded to one of the dielectric layers and at least one electrical component mounted on the circuitized substrate. The circuitized substrate includes a plurality of electrically conductive and thermally conductive thru-holes located therein, selected ones of the thermally conductive thru-holes thermally coupled to the electrical component(s) and extending through the first plurality of dielectric and electrically conductive circuit layers and being thermally coupled to the thermal cooling structure, each of these selected ones of thermally conductive thru-holes providing a thermal path from the electrical component to the thermal cooling structure during assembly operation. The thermal cooling structure is adapted for having cooling fluid pass there-through during operation of the assembly. A method of making the substrate is also provided.