Earn Inc
- Assets
- $4.3m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 36
- Location
- San Francisco, CA
- Founding
- 08/2002
- Data as of
- 12/2022
- EIN
- 91-2172676
Organization Overview
Earn Inc, operating under the name Saverlife, is located in San Francisco, CA. The organization was established in 2002. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Saverlife employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saverlife 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, Saverlife generated $6.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $6.5m during the year ending 12/2022. While expenses have increased by 12.4% per year over the past 8 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
SAVERLIFE IS A NATIONAL NONPROFIT AND ADVOCACY ORGANIZATION USING (CONT'D ON SCHEDULE O) TECHNOLOGY TO IMPROVE THE FINANCIAL HEALTH OF PEOPLE LIVING ON LOW-TO-MODERATE INCOMES. WE BELIEVE EVERYONE SHOULD HAVE THE SAME OPPORTUNITIES TO BUILD ECONOMIC MOBILITY AND ACHIEVE FINANCIAL WELL-BEING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY:SAVERLIFE'S FINANCIAL TECHNOLOGY PLATFORM SERVES MORE THAN 635,000 PEOPLE ACROSS THE COUNTRY WHO ARE LIVING ON LOW-TO-MODERATE INCOMES. THROUGH OUR APP, WE PROVIDE OUR MEMBERS WITH A PERSONALIZED EXPERIENCE THAT INCLUDES FINANCIAL CONTENT, SAVINGS REWARDS AND INCENTIVES, TRUSTED REFERRALS, ACCESS TO A SUPPORTIVE ONLINE COMMUNITY, AND OPPORTUNITIES TO ENGAGE IN OUR ADVOCACY AND POLICY WORK. SAVERLIFE WORKS - OUR MEMBERS DEPOSIT 15% OF THEIR INCOME INTO SAVINGS, AND 56% OF SAVERLIFE MEMBERS IMPROVE THEIR FINANCIAL HEALTH SCORE AT 6, 12, AND 18 MONTHS AFTER JOINING.
RESEARCH & ADVOCACY:SAVERLIFE BRINGS OUR MEMBERS' VOICES AND PRIORITIES INTO SYSTEMS-LEVEL CONVERSATIONS TO ENSURE CURRENT AND EMERGING PRODUCTS, PROGRAMS, AND POLICIES SUPPORT THEIR UNIQUE FINANCIAL HEALTH JOURNEYS. SAVERLIFE'S FINTECH PRODUCT PROVIDES UNIQUE ACCESS TO REAL-TIME, HOUSEHOLD-LEVEL FINANCIAL TRANSACTIONS, BANK ACCOUNT DATA, AND DEMOGRAPHIC INFORMATION, GIVING INSIGHT INTO THE FINANCIAL LIVES OF OUR MEMBERS OVER TIME. AND BECAUSE WE'VE BUILT AN ENGAGED COMMUNITY OF MEMBERS ACROSS THE COUNTRY, WE CAN BRING THEIR DATA AND STORIES TOGETHER THROUGH PUBLISHED RESEARCH TO HIGHLIGHT HOW A MORE THOUGHTFUL AND INCLUSIVE FINANCIAL SYSTEM CAN HELP THEM ACHIEVE FINANCIAL WELL-BEING.
SOLUTIONS:SAVERLIFE SOLUTIONS LEVERAGES THE UNDERLYING TECHNOLOGY AND PROVEN SAVINGS INCENTIVES OF THE SAVERLIFE PLATFORM TO BUILD THE BROADER FIELD OF FINANCIAL WELLNESS THROUGH PARTNERSHIPS. WE PARTNER WITH EMPLOYERS, CREDIT UNIONS, AND NONPROFITS TO PROVIDE SAVERLIFE'S SAVINGS PRODUCTS, COMBINED WITH CUSTOMIZED SAVINGS CHALLENGES TO THEIR COMMUNITY MEMBERS AND EMPLOYEES. SAVERLIFE SOLUTIONS OFFERS CUSTOM VERSIONS OF OUR INNOVATIVE SAVING PLATFORM, ADDING BOTH GENUINE VALUE AND PROVEN BUSINESS INCENTIVES TO THE PEOPLE OUR PARTNERS SERVE AND EMPLOY. THROUGH INTEGRATIONS OF OUR PLATFORM, WE PROVIDE A PROVEN BENEFIT FOR EMPLOYEES, CLIENTS, AND CONSTITUENTS, AND A LEADERSHIP ROLE FOR ORGANIZATIONS LOOKING TO PROMOTE MEANINGFUL SOCIAL CHANGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Eaton Chair | OfficerTrustee | 1 | $0 |
Preston Dodd Treasurer | OfficerTrustee | 0.5 | $0 |
Tiffany Teng Secretary | OfficerTrustee | 0.5 | $0 |
Don Baylor Board Member | Trustee | 0.5 | $0 |
Nidhi Daga Board Member | Trustee | 0.5 | $0 |
Jake Fuentes Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Telos Labs Llc Software Programming | 12/30/21 | $478,194 |
Teal Media Marketing And Design Services | 12/30/21 | $172,500 |
Stanton Public Relations & Marketing Public Relations And Marketing Services | 12/30/21 | $143,034 |
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 | $6,254,677 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,254,677 |
| Total Program Service Revenue | $284,418 |
| Investment income | $236 |
| 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 | $6,551,972 |
| 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. | $459,617 |
| Compensation of current officers, directors, key employees. | $91,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,600,564 |
| Pension plan accruals and contributions | $109,343 |
| Other employee benefits | $196,768 |
| Payroll taxes | $236,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,284 |
| Fees for services: Accounting | $125,707 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $740,042 |
| Advertising and promotion | $415,130 |
| Office expenses | $49,675 |
| Information technology | $173,773 |
| Royalties | $0 |
| Occupancy | $93,582 |
| Travel | $52,806 |
| 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 | $381,943 |
| Insurance | $23,511 |
| All other expenses | $93,153 |
| Total functional expenses | $6,486,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,014,717 |
| Savings and temporary cash investments | $25,392 |
| Pledges and grants receivable | $2,271,951 |
| Accounts receivable, net | $30,334 |
| 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 | $47,142 |
| Net Land, buildings, and equipment | $490,804 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $437,904 |
| Total assets | $4,318,244 |
| Accounts payable and accrued expenses | $257,922 |
| 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 | $226,695 |
| Total liabilities | $484,617 |
| Net assets without donor restrictions | $551,614 |
| Net assets with donor restrictions | $3,282,013 |
| 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 | $4,318,244 |
Grants Awarded
Over the last fiscal year, Earn Inc has awarded $30,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TENNESSEE FOOD ON FOOT FOUNDATION INC PURPOSE: TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES. | $10,000 |
GOODWILL INDUSTRIES OF KANAWHA VALLEY PURPOSE: TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES. | $10,000 |
YOU IN FLOOD CITY PURPOSE: TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES. | $10,000 |