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Nonprofiteer
← TEAM WETHRIVE INC

Form 990 for tax year 2022

Filed by TEAM WETHRIVE INC.

Totals

Total revenue
$832,683
Total expenses
$860,978
Contributions and grants received
$832,683
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$661,215
Total liabilities, end of year
$6,180
Net assets or fund balances, end of year
$655,035
Program services expenses (Part IX)
$742,507
Management and general expenses
$48,900
Fundraising expenses
$69,571
Program service expenses (Part III)
$742,507

Program services were 86.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $832,683

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $225,330 · program services $175,758 · management and general $20,280 · fundraising $29,292

  • 7 · Other salaries and wages

    total $32,668 · program services $25,481 · management and general $2,940 · fundraising $4,247

  • 9 · Other employee benefits

    total $15,233 · program services $11,882 · management and general $1,371 · fundraising $1,980

  • 10 · Payroll taxes

    total $22,662 · program services $17,676 · management and general $2,040 · fundraising $2,946

  • 11c · Fees: accounting

    total $7,311 · program services $5,703 · management and general $658 · fundraising $950

  • 11g · Fees: other

    total $96,349 · program services $75,153 · management and general $8,671 · fundraising $12,525

  • 13 · Office expenses

    total $22,903 · program services $17,851 · management and general $2,061 · fundraising $2,991

  • 14 · Information technology

    total $328,266 · program services $327,618 · management and general $265 · fundraising $383

  • 16 · Occupancy

    total $10,991 · program services $8,573 · management and general $989 · fundraising $1,429

  • 17 · Travel

    total $39,162 · program services $30,021 · management and general $4,138 · fundraising $5,003

  • 19 · Conferences, conventions and meetings

    total $5,129 · program services $3,932 · management and general $542 · fundraising $655

  • 23 · Insurance

    total $361 · program services $282 · management and general $32 · fundraising $47

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $25,402 · program services $19,814 · management and general $2,286 · fundraising $3,302

  • 24b · Other expenses: MISCELLANEOUS

    total $23,877 · program services $18,607 · management and general $2,147 · fundraising $3,123

  • 24c · Other expenses: TRAINING AND DEVELOPMEN

    total $3,465 · program services $2,700 · management and general $312 · fundraising $453

  • 24d · Other expenses: PROCESSING FEES AND CHA

    total $1,611 · program services $1,255 · management and general $145 · fundraising $211

  • 24e · All other expenses

    total $258 · program services $201 · management and general $23 · fundraising $34

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $690,155 · end of year $469,491

  • 15 · Other assets

    beginning of year $0 · end of year $191,724

  • 17 · Accounts payable and accrued expenses

    beginning of year $144 · end of year $97

  • 25 · Other liabilities

    beginning of year $6,681 · end of year $6,083

  • 27 · Net assets without donor restrictions

    beginning of year $683,330 · end of year $655,035

Mission and programs · 2022

Mission

SEE SCHEDULE OWETHRIVE EQUIPS AND EMPOWERS LOW-INCOME YOUTH BURSTING WITH IDEAS TO RISE AS ENTREPRENEURIAL ECONOMIC LEADERS AND BREAK THE CYCLE OF POVERTY. WETHRIVE REACHES MIDDLE SCHOOL STUDENTS, GIVING THEM AN ENCOURAGING YES TO THEIR DREAMS OF ENTREPRENEURSHIP - ALONG WITH THE TOOLSET TO MAKE THEM REAL. WETHRIVE STAFF MEMBERS TRAIN UNDERGRADUATE VOLUNTEERS TO BECOME MENTORS, WHO GUIDE STUDENTS THROUGH AN AFTERSCHOOL CURRICULUM CAREFULLY DESIGNED TO REACH THOSE LEFT BEHIND IN TRADITIONAL CLASSROOMS. WITH ENCOURAGEMENT AND SUPPORT FROM THEIR MENTORS, EACH STUDENT CREATES THEIR VERY OWN COMPANY, EARNING REAL REVENUES AND DONATING PROFITS TO A CHARITY OF THEIR CHOICE. STUDENTS GAIN CRITICAL LIFE SKILLS, USING LEARNING LOGS, METACOGNITION, AND LEADERSHIP DEVELOPMENT EXERCISES TO BUILD ENTREPRENEURIAL HABITS THAT LAST A LIFETIME. LEVERAGING THE BEST DIGITAL TOOLS, WETHRIVE IS DESIGNED TO DISRUPT AN INDUSTRY OF ENTREPRENEURIAL EDUCATION THAT HAS LEFT TOO MANY STUDENTS STILL IN NEED

Activities or mission (Part I)

SEE SCHEDULE O.WETHRIVE EQUIPS AND EMPOWERS LOW-INCOME YOUTH BURSTING WITH IDEAS TO RISE AS ENTREPRENEURIAL ECONOMIC LEADERS AND BREAK THE CYCLE OF POVERTY. WETHRIVE REACHES MIDDLE SCHOOL STUDENTS, GIVING THEM AN ENCOURAGING YES TO THEIR DREAMS OF ENTREPRENEURSHIP - ALONG WITH THE TOOLSET TO MAKE THEM REAL. WETHRIVE STAFF MEMBERS TRAIN UNDERGRADUATE VOLUNTEERS TO BECOME MENTORS, WHO GUIDE STUDENTS THROUGH AN AFTERSCHOOL CURRICULUM CAREFULLY DESIGNED TO REACH THOSE LEFT BEHIND IN TRADITIONAL CLASSROOMS. WITH ENCOURAGEMENT AND SUPPORT FROM THEIR MENTORS, EACH STUDENT CREATES THEIR VERY OWN COMPANY, EARNING REAL REVENUES AND DONATING PROFITS TO A CHARITY OF THEIR CHOICE. STUDENTS GAIN CRITICAL LIFE SKILLS, USING LEARNING LOGS, METACOGNITION, AND LEADERSHIP DEVELOPMENT EXERCISES TO BUILD ENTREPRENEURIAL HABITS THAT LAST A LIFETIME. LEVERAGING THE BEST DIGITAL TOOLS, WETHRIVE IS DESIGNED TO DISRUPT AN INDUSTRY OF ENTREPRENEURIAL EDUCATION THAT HAS LEFT TOO MANY STUDENTS STILL IN NEED.

  • 92% OF WETHRIVE YOUTH LAUNCHED A VENTURE. WETHRIVE STUDENTS ARE 99% STUDENTS OF COLOR AND 80% LOW INCOME. 72% REMAIN ON WETHRIVE'S DIGITAL PLATFORM AFTER THE FIRST YEAR, JOINING A DYNAMIC COMMUNITY TO SUSTAIN THEIR LONG-TERM ACADEMIC AND CAREER SUCCESS, INCLUDING LONG-TERM MENTORSHIPS, HIGH-VALUE NETWORKS, AND FUTURE-READY SKILLS.

    Expenses $742,507

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Daquan Oliver

    PRESIDENT

    Total calculated
    $72,717
    From this org
    $72,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    43

  • Prosie Iana Palad

    REMOTE PROGRAM DIRECTOR

    Total calculated
    $37,500
    From this org
    $37,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    43

  • Ashley Puryear

    ALUMNI PORTFOLIO PROGRAM MANAGER

    Total calculated
    $34,296
    From this org
    $34,296
    From related orgs
    $0
    Other
    $0
    Hours/week
    43

  • Kathryn Danielle Espiritu

    LEARNING SUCCESS DIRECTOR

    Total calculated
    $80,818
    From this org
    $80,818
    From related orgs
    $0
    Other
    $0
    Hours/week
    43

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
16 November 2023
IRS schema version
2022v5.0
Source object
202313209349303761

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