Upaya Social Ventures
- Assets
- $2.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Seattle, WA
- Founding
- 01/2013
- Data as of
- 12/2022
- EIN
- 80-0713334
Organization Overview
Upaya Social Ventures is located in Seattle, WA. The organization was established in 2013. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Upaya Social Ventures employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upaya Social Ventures 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, Upaya Social Ventures generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 9.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
UPAYA SOCIAL VENTURES FIGHTS EXTREME POVERTY THROUGH DIGNIFIED JOBS. FOUNDED IN 2011, UPAYA PROVIDES INVESTMENT AND CONSULTING SUPPORT TO EARLY-STAGE BUSINESSES AIMED AT CREATING JOBS FOR PEOPLE LIVING IN EXTREME POVERTY. UPAYA'S CONTINUALLY GROWING PORTFOLIO OF IMPACT INVESTMENTS HAS CREATED OVER 28,000 LASTING, DIGNIFIED JOBS. ENDORSED BY IMPACTMATTERS AS A HIGH-IMPACT, COST-EFFECTIVE NONPROFIT, UPAYA'S TEAMS IN SEATTLE AND BANGALORE ARE COMMITTED TO A GOAL OF HELPING ENTREPRENEURS CREATE JOBS FOR 50,000 PEOPLE IN INDIA BY 2025.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UPAYA CREATES DIGNIFIED JOBS FOR PEOPLE LIVING IN EXTREME POVERTY BY BUILDING SCALABLE BUSINESSES WITH INVESTMENT AND CONSULTING SUPPORT. SINCE 2011, UPAYA HAS SUPPORTED 34 SMALL AND GROWING BUSINESSES IN INDIA WITH INVESTMENTS AND EXPERTISE. AS OF DECEMBER 2022, UPAYA PARTNERS HAD CREATED OVER 28,000 LASTING AND DIGNIFIED JOBS. IN 2022, UPAYA ACCELERATED THE GROWTH OF EIGHT ADDITIONAL COMPANIES AND SELECTED FIVE NEW PARTNERS FOR OUR INVESTMENT PORTFOLIO. IN 2022, UPAYA ALSO PROVIDED $35,000 IN GRANT FUNDING TO ENTREPRENEURS IN ASIA AS PART OF A PARTNERSHIP WITH ANGELS OF IMPACT.
IN 2021, INDIA FACED A DEVASTATING SECOND WAVE OF COVID, WHICH HALTED OPERATIONS FOR MANY OF UPAYA'S PORTFOLIO COMPANIES. UPAYA RAISED FUNDS TO PROVIDE EMERGENCY GRANTS FOR SEVERAL PORTFOLIO COMPANIES SO THAT THEY COULD PROVIDE SANITATION KITS, CASH STIPENDS, AND PROTECTIVE EQUIPMENT FOR THEIR EMPLOYEES. THE REMAINING PORTION OF THESE GRANTS WAS PAID OUT IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Cochran CEO | OfficerTrustee | 40 | $132,617 |
Sachita Shenoy Board Member | Trustee | 2 | $0 |
Robin Wolaner Chair | Trustee | 2 | $0 |
Kim Rachmeler Vice Chair | Trustee | 2 | $0 |
Brian Boland Board Member | Trustee | 2 | $0 |
Caroline Norton Vance Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $399,979 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $805,234 |
| Noncash contributions included in lines 1a–1f | $9,469 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,205,213 |
| Total Program Service Revenue | $66,875 |
| Investment income | $7,499 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,235 |
| Net Income from Fundraising Events | -$28,718 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,286,104 |
| 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 | $42,646 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $130,883 |
| Compensation of current officers, directors, key employees. | $6,545 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $530,793 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,602 |
| Payroll taxes | $24,505 |
| Fees for services: Management | $92,763 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,102 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,726 |
| Office expenses | $22,979 |
| Information technology | $14,122 |
| Royalties | $0 |
| Occupancy | $39,667 |
| Travel | $53,949 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,931 |
| Interest | $247 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84 |
| Insurance | $3,386 |
| All other expenses | $0 |
| Total functional expenses | $1,075,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,331 |
| Savings and temporary cash investments | $896,277 |
| Pledges and grants receivable | $389,623 |
| Accounts receivable, net | $18,498 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,231 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,739 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $904,038 |
| Intangible assets | $0 |
| Other assets | $83,737 |
| Total assets | $2,457,474 |
| Accounts payable and accrued expenses | $62,124 |
| Grants payable | $0 |
| Deferred revenue | $653 |
| 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 | $25,000 |
| Other liabilities | $1,059,470 |
| Total liabilities | $1,147,247 |
| Net assets without donor restrictions | $1,004,751 |
| Net assets with donor restrictions | $305,476 |
| 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 | $2,457,474 |