My Very Own Bed

Organization Overview

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 12/2022, My Very Own Bed employed 5 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 12/2022, My Very Own Bed generated $925.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 51.0% each year . All expenses for the organization totaled $890.8k during the year ending 12/2022. While expenses have increased by 59.1% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

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 2022, 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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Board, Officers & Key Employees

Name (title)Compensation
Amy Forbes
Board Member
$0
Peter Lee
Treasurer
$0
Terri Lee
Board Member
$0
Nikki Niermann
Secretary
$0
Lily Ttharoor
Board Member
$0
William Ward
Board Chair
$0

Financial Statements

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$781,172
Noncash contributions included in lines 1a–1f $216,096
Total Revenue from Contributions, Gifts, Grants & Similar$781,172
Total Program Service Revenue$46,525
Investment income $3,319
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$4,884
Net Income from Fundraising Events $98,868
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $925,000

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