Team Wethrive Inc
- Assets
- $690.2k
- Revenue
- $970.0k
- Investments
- $0.0
- Employees
- 3
- Location
- New York, NY
- Founding
- 05/2014
- Data as of
- 12/2021
- EIN
- 46-3341254
Organization Overview
Team Wethrive Inc is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Team Wethrive Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team Wethrive Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Team Wethrive Inc generated $970.0k in total revenue. All expenses for the organization totaled $542.8k during the year ending 12/2021. While expenses have increased by 70.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.WETHRIVE EQUIPS AND EMPOWERS LOW-INCOME YOUTH BURSTING WITH IDEAS TO RISE AS ENTREPRENEURIAL ECONOMIC LEADERS AND BREAK THE CYCLE OF POVERTY. WETHRIVE REACHES MIDDLE SCHOOL STUDENTS, GIVING THEM AN ENCOURAGING YES TO THEIR DREAMS OF ENTREPRENEURSHIP - ALONG WITH THE TOOLSET TO MAKE THEM REAL. WETHRIVE STAFF MEMBERS TRAIN UNDERGRADUATE VOLUNTEERS TO BECOME MENTORS, WHO GUIDE STUDENTS THROUGH AN AFTERSCHOOL CURRICULUM CAREFULLY DESIGNED TO REACH THOSE LEFT BEHIND IN TRADITIONAL CLASSROOMS. WITH ENCOURAGEMENT AND SUPPORT FROM THEIR MENTORS, EACH STUDENT CREATES THEIR VERY OWN COMPANY, EARNING REAL REVENUES AND DONATING PROFITS TO A CHARITY OF THEIR CHOICE. STUDENTS GAIN CRITICAL LIFE SKILLS, USING LEARNING LOGS, METACOGNITION, AND LEADERSHIP DEVELOPMENT EXERCISES TO BUILD ENTREPRENEURIAL HABITS THAT LAST A LIFETIME. LEVERAGING THE BEST DIGITAL TOOLS, WETHRIVE IS DESIGNED TO DISRUPT AN INDUSTRY OF ENTREPRENEURIAL EDUCATION THAT HAS LEFT TOO MANY STUDENTS STILL IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
92% OF WETHRIVE YOUTH LAUNCHED A VENTURE. WETHRIVE STUDENTS ARE 99% STUDENTS OF COLOR AND 80% LOW INCOME. 72% REMAIN ON WETHRIVE'S DIGITAL PLATFORM AFTER THE FIRST YEAR, JOINING A DYNAMIC COMMUNITY TO SUSTAIN THEIR LONG-TERM ACADEMIC AND CAREER SUCCESS, INCLUDING LONG-TERM MENTORSHIPS, HIGH-VALUE NETWORKS, AND FUTURE-READY SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daquan Jamein Oliver President | OfficerTrustee | 80 | $73,576 |
Kathryn Danielle Espiritu Chief Of Learning Officer | Officer | 40 | $53,573 |
Jason Cascarino Treasurer | OfficerTrustee | 2 | $0 |
Tiffany Thompson Board Member | Trustee | 2 | $0 |
Scott Warren Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,660 |
| All other contributions, gifts, grants, and similar amounts not included above | $950,341 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $970,001 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $970,001 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,549 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $127,148 |
| Compensation of current officers, directors, key employees. | $11,444 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,718 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,414 |
| Payroll taxes | $13,730 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,867 |
| Advertising and promotion | $0 |
| Office expenses | $19,476 |
| Information technology | $162,067 |
| Royalties | $0 |
| Occupancy | $16,318 |
| Travel | $20,331 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $137 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,270 |
| All other expenses | $0 |
| Total functional expenses | $542,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $690,155 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $690,155 |
| Accounts payable and accrued expenses | $144 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,681 |
| Total liabilities | $6,825 |
| Net assets without donor restrictions | $683,330 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $690,155 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Team Wethrive Inc has recieved totaling $612,511.
| Awarding Organization | Amount |
|---|---|
New Venture Fund Washington, DC PURPOSE: YOUTH DEVELOPMENT AND EDUCATION | $425,000 |
Charter Fund Inc Broomfield, CO PURPOSE: COLLEGE AND ALUMNI SUCCESS | $150,000 |
Stand Together Foundation Arlington, VA PURPOSE: General Operating | $25,000 |
The Roddenberry Foundation Sherman Oaks, CA PURPOSE: FELLOWSHIP GRANT | $12,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $11 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York State Public High School Athletic Association Inc Farmingville, NY | $1,517,240 | $5,856,622 |
Bike New York Inc New York, NY | $4,166,926 | $2,379,962 |
Project Adventure Inc Beverly, MA | $1,895,624 | $4,703,745 |
Innercity Weightlifting Inc Boston, MA | $3,964,091 | $4,030,474 |
Laurel Highlands Ligonier, PA | $9,995,015 | $2,370,476 |
Doc Wayne Youth Services Inc Boston, MA | $1,355,215 | $2,243,484 |
Park Housing Development Fund Company Inc Flushing, NY | $4,600,496 | $988,773 |
Underground Bowling Association Inc Freeport, NY | $128,797 | $1,189,863 |
Larchmont Manor Park Society Larchmont, NY | $1,812,856 | $1,373,581 |
Atlantic Hockey Association Inc Winthrop, MA | $457,452 | $1,032,133 |
Vermont Atv Sportsmans Association Inc Barre, VT | $867,519 | $1,211,642 |
Niagara Frontier Junior Hockey Club Inc Grand Island, NY | $406,318 | $910,051 |