Mypath
- Assets
- $1.6m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 25
- Location
- San Francisco, CA
- Founding
- 05/1994
- Data as of
- 06/2023
- EIN
- 94-3098928
Organization Overview
Mypath is located in San Francisco, CA. The organization was established in 1994. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2023, Mypath employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mypath 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 06/2023, Mypath generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $3.1m during the year ending 06/2023. While expenses have increased by 11.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MYPATH FOSTERS PATHWAYS FOR UPWARD ECONOMIC MOBILITY BY CONNECTING BIPOC YOUTH FROM UNDER-RESOURCED COMMUNITIES WITH OPPORTUNITIES TO BANK, SAVE, AND BUILD CREDIT AND FINANCIAL CONFIDENCE AS THEY EARN THEIR FIRST INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN PARTNERSHIP WITH YOUTH, MYPATH DESIGNS, TESTS AND SCALES INNOVATIVE YOUTH FINANCIAL CAPABILITY INTERVENTIONS WITH PROVEN OUTCOMES . THROUGH FINANCIAL EDUCATION, CONNECTIONS TO YOUTH-FRIENDLY FINANCIAL PRODUCTS, AND PERSONAL FINANCIAL MENTORING, EACH YEAR MORE THAN 3000 YOUNG PEOPLE LEARN TO SAVE, BUILD CREDIT, AND EMBARK ON A PATH TO LONG-TERM FINANCIAL STABILITY. ON AVERAGE, MYPATH YOUTH SAVE 30% OF THEIR INCOME; 70% REPORT INCREASED FINANCIAL KNOWLEDGE AND CONFIDENCE; 85% SEE AN IMPROVED FICO CREDIT SCORE; AND 100% SET ASIDE EMERGENCY SAVINGS AFTER FINANCIAL MENTORING. MYPATH YOUTH LEADERS AND STAFF ALSO ILLUMINATE THE BARRIERS TO YOUTH FINANCIAL INCLUSION AND OUTLINE THE RESOURCES NEEDED TO ADVANCE MYPATHS YOUTH ECONOMIC BILL OF RIGHTS THROUGH FIELD AND AWARENESS BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Libby Founder & CEO | Officer | 40 | $155,621 |
Claudia Stillwell CFO | Officer | 40 | $131,676 |
Noelle Hylton Cto | Officer | 40 | $130,563 |
Leslie Chard President | OfficerTrustee | 1 | $0 |
Rohit Gera Treasurer | OfficerTrustee | 1 | $0 |
Michelle Jun Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,238,008 |
| All other contributions, gifts, grants, and similar amounts not included above | $849,981 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,087,989 |
| Total Program Service Revenue | $5,522 |
| Investment income | $23,387 |
| 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 | $2,116,898 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $44,966 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $458,218 |
| Compensation of current officers, directors, key employees. | $143,465 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,478,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $132,013 |
| Payroll taxes | $143,387 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,500 |
| Fees for services: Accounting | $14,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $23,940 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $594,423 |
| Advertising and promotion | $0 |
| Office expenses | $74,514 |
| Information technology | $52,829 |
| Royalties | $0 |
| Occupancy | $31,914 |
| Travel | $29,057 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,892 |
| Interest | $38 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,695 |
| Insurance | $15,981 |
| All other expenses | $0 |
| Total functional expenses | $3,124,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,955 |
| Savings and temporary cash investments | $995,395 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $132,642 |
| 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 | $76,476 |
| Net Land, buildings, and equipment | $2,772 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $71,619 |
| Other assets | $98,205 |
| Total assets | $1,626,064 |
| Accounts payable and accrued expenses | $289,478 |
| 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 | $0 |
| Total liabilities | $289,478 |
| Net assets without donor restrictions | $858,340 |
| Net assets with donor restrictions | $478,246 |
| 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 | $1,626,064 |