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Nonprofiteer
← TEAM WETHRIVE INC

Form 990 for tax year 2023

Filed by TEAM WETHRIVE INC.

Totals

Total revenue
$352,365
Total expenses
$745,706
Contributions and grants received
$283,165
Grants paid
$0
Program service revenue
$69,200
Investment income
$0
Other revenue
$0
Total assets, end of year
$271,370
Total liabilities, end of year
$12,566
Net assets or fund balances, end of year
$258,804
Program services expenses (Part IX)
$576,286
Management and general expenses
$61,932
Fundraising expenses
$107,488
Program service expenses (Part III)
$576,286

Program services were 77.3% 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

    $283,165

  • 2a · Program service revenue: EARNED REVENUES

    total $58,400 · related or exempt $58,400

  • 2b · Program service revenue: MASTERCLASS PAYMENTS

    total $10,400 · related or exempt $10,400

  • 2c · Program service revenue: OTHER REVENUES

    total $400 · related or exempt $400

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $300,000 · program services $234,000 · management and general $27,000 · fundraising $39,000

  • 9 · Other employee benefits

    total $16,709 · program services $13,033 · management and general $1,504 · fundraising $2,172

  • 10 · Payroll taxes

    total $24,410 · program services $19,040 · management and general $2,197 · fundraising $3,173

  • 11c · Fees: accounting

    total $8,275 · program services $5,802 · management and general $710 · fundraising $1,763

  • 11g · Fees: other

    total $194,292 · program services $136,229 · management and general $16,678 · fundraising $41,385

  • 12 · Advertising and promotion

    total $2,367 · program services $1,846 · management and general $213 · fundraising $308

  • 13 · Office expenses

    total $17,440 · program services $13,603 · management and general $1,570 · fundraising $2,267

  • 14 · Information technology

    total $48,206 · program services $48,206

  • 16 · Occupancy

    total $6,048 · program services $4,718 · management and general $544 · fundraising $786

  • 17 · Travel

    total $12,405 · program services $9,676 · management and general $1,116 · fundraising $1,613

  • 19 · Conferences, conventions and meetings

    total $1,100 · program services $858 · management and general $99 · fundraising $143

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $107,054 · program services $83,502 · management and general $9,635 · fundraising $13,917

  • 24b · Other expenses: TRAINING AND DEVELOPMEN

    total $2,180 · program services $1,701 · management and general $196 · fundraising $283

  • 24c · Other expenses: MEALS

    total $2,064 · program services $1,610 · management and general $186 · fundraising $268

  • 24d · Other expenses: MISCELLANEOUS EXPENSES

    total $1,623 · program services $1,266 · management and general $146 · fundraising $211

  • 24e · All other expenses

    total $1,533 · program services $1,196 · management and general $138 · fundraising $199

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $469,491 · end of year $13,746

  • 4 · Accounts receivable

    beginning of year $0 · end of year $250,900

  • 15 · Other assets

    beginning of year $191,724 · end of year $6,724

  • 17 · Accounts payable and accrued expenses

    beginning of year $97 · end of year $3,511

  • 25 · Other liabilities

    beginning of year $6,083 · end of year $9,055

  • 27 · Net assets without donor restrictions

    beginning of year $655,035 · end of year $258,804

Mission and programs · 2023

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)

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.

  • 94% OF WETHRIVE YOUTH LAUNCHED A VENTURE. WETHRIVE STUDENTS ARE 99% STUDENTS OF COLOR AND 80% LOW INCOME. 68% 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 $576,286 · Revenue $69,200

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Daquan Oliver

    PRESIDENT

    Total calculated
    $147,502
    From this org
    $147,502
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Kathryn Danielle Espiritu

    LEARNING SUCCESS DIRECTOR

    Total calculated
    $87,956
    From this org
    $87,956
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ashley Puryear

    ALUMNI PORTFOLIO PROGRAM MANAGER

    Total calculated
    $59,823
    From this org
    $59,823
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jason Cascarino

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Tiffany Thompson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

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
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202501289349300200

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