My Very Own Bed is located in Minneapolis, MN. The organization was established in 2014. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, My Very Own Bed employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. My Very Own Bed 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, My Very Own Bed generated $701.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 55.2% each year . All expenses for the organization totaled $637.8k during the year ending 12/2021. While expenses have increased by 63.2% per year over the past 5 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
TO PROVIDE NEW BEDS AND LINENS TO CHILDREN OF FAMILIES WHO HAVE RECENTLY SECURED STABLE HOUSING IN THE TWIN CITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MY VERY OWN BED'S CORE PROGRAM IS PROVIDING NEW BEDS AND DREAM KITS TO CHILDREN WHO WOULD OTHERWISE BE SLEEPING ON THE FLOOR OR SHARING A BED WITH A PARENT OR SIBLING AND MOST OF WHOM HAVE RECENTLY EXPERIENCED HOMELESSNESS. THE BEDS PROVIDE THE CHILDREN WITH A COMFORTABLE SPACE OF THEIR OWN ON WHICH TO GET RESTORATIVE AND NURTURING SLEEP THAT WILL HELP THEM THRIVE IN THEIR NEW HOME AND AT SCHOOL. THEY ALSO CONTRIBUTE TO THE FAMILIES' HOUSING STABILITY BY PROVIDING AN ESSENTIAL ITEM THAT THEY MAY NOT OTHERWISE BE ABLE TO AFFORD THAT HELPS TURN THE NEW HOUSE INTO A HOME. THROUGH COMMUNITY SUPPORT, MY VERY OWN BED CONTINUES TO GROW AS AN ORGANIZATION AND, MOST IMPORTANTLY, IN THE NUMBER OF CHILDREN WE ARE ABLE TO REACH. IN 2021, WE REACHED 1,224 CHILDREN IN 497 FAMILIES, UP FROM 964 CHILDREN IN 419 FAMILIES IN 2020 AND 676 CHILDREN IN 300 FAMILIES IN 2019. THESE BEDS ARE MAKING AN IMPACT IN THE COMMUNITY. WE REGULARLY HEAR FROM FAMILIES ABOUT THEIR CHILDREN'S IMPROVED SLEEP, MENTAL HEALTH, ATTITUDE AND BEHAVIOR BOTH AT HOME AND IN THE CLASSROOM.IN 2021, WE HIRED A FULL-TIME PROGRAM MANAGER WHO FOCUSES ON DAY-TO-DAY OPERATIONS INCLUDING MANAGING OUR LARGE VOLUNTEER BASE AS WELL AS OUR RELATIONSHIPS WITH REFERRAL PARTNERS AND FAMILIES. WE ALSO MOVED INTO A LARGER SPACE THAT PROVIDES A BETTER WORKING ENVIRONMENT FOR OUR STAFF AND VOLUNTEER ACTIVITY AND, MOST IMPORTANTLY, ALLOWS GREATER EFFICIENCIES IN ALL ASPECTS OF OUR WORK, AS WE ARE ABLE TO RECEIVE AND STORE MUCH LARGER SHIPMENTS OF MATTRESSES, FRAMES, AND OTHER INVENTORY. WE RECENTLY COMPLETED A NEW STRATEGIC PLAN THAT CHARTS THE NEXT FIVE YEARS OF CONTINUED, INCREMENTAL GROWTH IN PROVIDING NEW BEDS TO CHILDREN. ALL OF THIS ACTIVITY SUPPORTS OUR FOCUS ON PROVIDING BEDS AND THE OPPORTUNITY FOR HEALTHY SLEEP TO CHILDREN.
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MY VERY OWN BED WAS CREATED TO HELP FAMILIES GET ONE STEP CLOSER TO THRIVING IN THEIR NEW HOMES. BY PROVIDING BEDS AND LINENS TO KIDS WHO NEED THEM, WERE MAKING THOSE NEW HOMES MORE LIVABLE AND RESTFUL. BY MAKING SURE THE BEDS AND LINENS ARE NEW, WERE GIVING KIDS AND FAMILIES SOMETHING ALL THEIR OWN NOT A HAND-ME-DOWN. OUR BED SETS INCLUDE A TWIN MATTRESS AND BOX SPRING, ALONG WITH A DREAM KIT THAT INCLUDES SHEETS, AND A PILLOW. WE MAKE IT EASY ON FAMILIES BY MANAGING EVERY STEP OF THE DELIVERY, FROM TRANSPORTING THE BEDS TO SETTING THEM UP IN EACH CHILDS ROOM.
DEPRECIATION EXPENSE
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michael Allen Executive Di | Officer | 40 | $65,000 |
Amy Forbes Board Member | Trustee | 1 | $0 |
Todd Hysjulien Treasurer | Trustee | 1 | $0 |
Nikki Niermann Secretary | Trustee | 1 | $0 |
Terri Lee Board Member | Trustee | 1 | $0 |
Lily Ttharoor Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $698,854 |
Noncash contributions included in lines 1a–1f | $179,010 |
Total Revenue from Contributions, Gifts, Grants & Similar | $698,854 |
Total Program Service Revenue | $0 |
Investment income | $318 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $6,438 |
Net Income from Fundraising Events | $2,353 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $701,525 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $65,000 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $71,220 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $12,013 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $5,955 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $50,653 |
Advertising and promotion | $4,804 |
Office expenses | $22,111 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $24,581 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,400 |
Insurance | $8,496 |
All other expenses | $8,955 |
Total functional expenses | $637,777 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $244,419 |
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 | $6,800 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $45,657 |
Total assets | $296,876 |
Accounts payable and accrued expenses | $0 |
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 | $9,234 |
Total liabilities | $9,234 |
Net assets without donor restrictions | $0 |
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 | $287,642 |
Total liabilities and net assets/fund balances | $296,876 |
Over the last fiscal year, we have identified 25 grants that My Very Own Bed has recieved totaling $304,677.
Awarding Organization | Amount |
---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $99,790 |
Hrk Foundation St Paul, MN PURPOSE: GOS | $25,494 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $21,145 |
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $20,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $19,250 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,529 |
Organization Name | Assets | Revenue |
---|---|---|
People Serving People Inc Minneapolis, MN | $3,407,930 | $8,460,850 |
Guest House Of Milwaukee Inc Milwaukee, WI | $4,668,756 | $7,591,185 |
Porchlight Inc Madison, WI | $20,932,700 | $8,054,019 |
Hope Community Inc Minneapolis, MN | $13,754,226 | $3,542,167 |
Hope House Of Milwaukee Inc Milwaukee, WI | $8,269,390 | $9,073,571 |
Ywca Cass Clay Fargo, ND | $12,333,832 | $4,006,576 |
Womens Advocates Inc St Paul, MN | $3,690,924 | $2,897,854 |
St John The Evangelist Homeless Shelter Inc Green Bay, WI | $8,879,025 | $8,082,572 |
Stepping Stone Emergency Housing Anoka, MN | $1,495,028 | $2,528,551 |
House Of Hope Green Bay Inc Green Bay, WI | $7,630,613 | $2,886,381 |
Micah House Corporation Council Bluffs, IA | $14,669,561 | $5,491,849 |
Oneheart Rapid City, SD | $10,366,131 | $4,178,081 |