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Nonprofiteer
← EARN INC

Form 990 for tax year 2022

Filed by EARN INC.

Totals

Total revenue
$6,551,972
Total expenses
$6,486,663
Contributions and grants received
$6,254,677
Grants paid
$0
Program service revenue
$284,418
Investment income
$236
Other revenue
$12,641
Total assets, end of year
$4,318,244
Total liabilities, end of year
$484,617
Net assets or fund balances, end of year
$3,833,627
Program services expenses (Part IX)
$5,146,037
Management and general expenses
$733,144
Fundraising expenses
$607,482
Program service expenses (Part III)
$5,146,037

Program services were 79.3% 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

    $6,254,677

  • 2a · Program service revenue: PROGRAM SERVICE FEE

    total $284,418 · related or exempt $284,418

  • 3 · Investment income

    total $236 · excluded $236

  • 11d · All other revenue

    total $12,641 · excluded $12,641

  • 11e · Other revenue, total

    $12,641

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $459,617 · program services $207,696 · management and general $91,923 · fundraising $159,998

  • 7 · Other salaries and wages

    total $2,600,564 · program services $2,080,180 · management and general $251,729 · fundraising $268,655

  • 8 · Pension plan contributions

    total $109,343 · program services $85,981 · management and general $11,037 · fundraising $12,325

  • 9 · Other employee benefits

    total $196,768 · program services $161,227 · management and general $18,074 · fundraising $17,467

  • 10 · Payroll taxes

    total $236,410 · program services $178,035 · management and general $26,179 · fundraising $32,196

  • 11b · Fees: legal

    total $7,284 · program services $6,226 · management and general $1,058

  • 11c · Fees: accounting

    total $125,707 · management and general $125,707

  • 11g · Fees: other

    total $740,042 · program services $577,638 · management and general $126,661 · fundraising $35,743

  • 12 · Advertising and promotion

    total $415,130 · program services $405,013 · management and general $10,117

  • 13 · Office expenses

    total $49,675 · program services $35,775 · management and general $6,838 · fundraising $7,062

  • 14 · Information technology

    total $173,773 · program services $173,773

  • 16 · Occupancy

    total $93,582 · program services $70,486 · management and general $12,976 · fundraising $10,120

  • 17 · Travel

    total $52,806 · program services $26,955 · management and general $2,969 · fundraising $22,882

  • 22 · Depreciation, depletion and amortization

    total $381,943 · program services $377,542 · management and general $1,899 · fundraising $2,502

  • 23 · Insurance

    total $23,511 · program services $18,270 · management and general $2,291 · fundraising $2,950

  • 24a · Other expenses: SAAS FEES

    total $427,548 · program services $368,033 · management and general $31,783 · fundraising $27,732

  • 24b · Other expenses: SAVER INCENTIVES

    total $299,807 · program services $299,807

  • 24e · All other expenses

    total $93,153 · program services $73,400 · management and general $11,903 · fundraising $7,850

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,368,746 · end of year $1,014,717

  • 2 · Savings and temporary cash investments

    beginning of year $1,001 · end of year $25,392

  • 3 · Pledges and grants receivable

    beginning of year $1,131,780 · end of year $2,271,951

  • 4 · Accounts receivable

    beginning of year $49,783 · end of year $30,334

  • 9 · Prepaid expenses and deferred charges

    beginning of year $63,407 · end of year $47,142

  • 10a · Land, buildings and equipment: cost or other basis

    $1,337,403

  • 10b · Land, buildings and equipment: accumulated depreciation

    $846,599

  • 10c · Land, buildings and equipment, net

    beginning of year $575,267 · end of year $490,804

  • 15 · Other assets

    beginning of year $476,029 · end of year $437,904

  • 17 · Accounts payable and accrued expenses

    beginning of year $724,117 · end of year $257,922

  • 18 · Grants payable

    beginning of year $19,018

  • 19 · Deferred revenue

    beginning of year $68,333

  • 25 · Other liabilities

    beginning of year $86,227 · end of year $226,695

  • 27 · Net assets without donor restrictions

    beginning of year $1,985,147 · end of year $551,614

  • 28 · Net assets with donor restrictions

    beginning of year $1,783,171 · end of year $3,282,013

Mission and programs · 2022

Mission

SAVERLIFE (FORMERLY EARN) IS A NONPROFIT ON A MISSION TO INSPIRE, INFORM, AND REWARD THE MILLIONS OF AMERICANS WHO NEED HELP SAVING MONEY. THROUGH ENGAGING TECHNOLOGIES AND STRATEGIC PARTNERSHIPS, WE GIVE WORKING PEOPLE THE METHODS AND MOTIVATION (CONT'D ON SCHEDULE O)TO TAKE CONTROL OF THEIR FINANCIAL FUTURE.

Activities or mission (Part I)

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.

  • 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.

    Expenses $3,243,788

  • 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.

    Expenses $1,062,516 · Revenue $151,444

  • 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.

    Expenses $839,733 · Revenue $132,974

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

Listed in Part VII

  • NICK EATON

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • PRESTON DODD

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • TIFFANY TENG

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • DON BAYLOR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • NIDHI DAGA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JAKE FUENTES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • SAMIR GOEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • BENJAMIN MANGAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • KARIN MEYER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ANDY PEAY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • IDA RADEMACHER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • LEIGH PHILLIPS

    CEO

    Total calculated
    $238,493
    From this org
    $216,000
    From related orgs
    $0
    Other
    $22,493
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,000
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $16,493
    Filer's total
    $238,493

  • ASHLEY SHERWIN

    COO

    Total calculated
    $221,124
    From this org
    $190,000
    From related orgs
    $0
    Other
    $31,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,000
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $25,124
    Filer's total
    $221,124

  • NEHA GUPTA

    VP OF MARKET DEVELOPMENT

    Total calculated
    $181,756
    From this org
    $165,900
    From related orgs
    $0
    Other
    $15,856
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,900
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $9,856
    Filer's total
    $181,756

  • TIM LUCAS

    VP OF RESEARCH AND ANALYTICS

    Total calculated
    $165,710
    From this org
    $159,126
    From related orgs
    $0
    Other
    $6,584
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,126
    Bonus
    $0
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $584
    Filer's total
    $165,710

  • RADHA SESHAGIRI

    DIRECTOR OF POLICY AND SYSTEMS CHANGE

    Total calculated
    $144,375
    From this org
    $138,000
    From related orgs
    $0
    Other
    $6,375
    Hours/week
    40

  • SUSAN LYON

    DIRECTOR OF MARKETING

    Total calculated
    $149,212
    From this org
    $133,250
    From related orgs
    $0
    Other
    $15,962
    Hours/week
    40

  • RAJESH JAMBOTKAR

    DIRECTOR OF PRODUCT

    Total calculated
    $138,351
    From this org
    $132,000
    From related orgs
    $0
    Other
    $6,351
    Hours/week
    40

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323189349312747

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