Civic Intelligence

Earn Inc.

990 • Fiscal year 2021 • EIN 91-2172676

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileWWW.SAVERLIFE.ORG

View Organization Page

235 Montgomery Street 1050San Francisco, CA 94104

(415) 503-9818

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

59th percentile

0.19x

Higher debt load relative to assets than 59% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

48th percentile

0.15x

Higher debt load relative to revenue than 48% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

26th percentile

1.2%

Higher net margin than 26% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

85th percentile

$251,982

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

51st percentile

9.8%

Faster asset growth than 51% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-28%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$4,666,013

Up $417,190 (+9.8%) from 2020

Net Assets

Up

$3,768,318

Up $70,226 (+1.9%) from 2020

Liabilities

Up

$897,695

Up $346,964 (+63%) from 2020

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin26th percentile

Revenue

Down

$6,096,745

Down $2,341,689 (-28%) from 2020

Expenses

Down

$6,026,519

Down $2,676,830 (-31%) from 2020

Net Income

Up

$70,226

Up $335,141 (+127%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $10,702,257Liabilities 2011: $1,275,678Net Assets 2011: $9,426,5792011Assets 2012: $8,989,565Liabilities 2012: $3,500,423Net Assets 2012: $5,489,1422012Assets 2013: $6,683,479Liabilities 2013: $3,710,251Net Assets 2013: $2,973,2282013Assets 2014: $4,561,337Liabilities 2014: $2,638,621Net Assets 2014: $1,922,7162014Assets 2015: $3,534,490Liabilities 2015: $1,440,241Net Assets 2015: $2,094,2492015Assets 2016: $3,099,876Liabilities 2016: $809,603Net Assets 2016: $2,290,2732016Assets 2017: $3,577,647Liabilities 2017: $972,056Net Assets 2017: $2,605,5912017Assets 2018: $3,057,782Liabilities 2018: $420,251Net Assets 2018: $2,637,5312018Assets 2019: $4,370,502Liabilities 2019: $407,495Net Assets 2019: $3,963,0072019Assets 2020: $4,248,823Liabilities 2020: $550,731Net Assets 2020: $3,698,0922020Assets 2021: $4,666,013Liabilities 2021: $897,695Net Assets 2021: $3,768,3182021Assets 2022: $4,318,244Liabilities 2022: $484,617Net Assets 2022: $3,833,6272022Assets 2023: $1,261,403Liabilities 2023: $212,688Net Assets 2023: $1,048,7152023Assets 2024: $5,974,643Liabilities 2024: $234,051Net Assets 2024: $5,740,5922024

Highlighted filing

2021

Assets$4,666,013
Liabilities$897,695
Net Assets$3,768,318
Open 2021 Filing

Operations Trend

Revenue Growth9th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $4,951,255Expenses 2011: $4,405,299Net Income 2011: $545,9562011Revenue 2012: $3,823,462Expenses 2012: $5,313,166Net Income 2012: -$1,489,7042012Revenue 2013: $2,459,574Expenses 2013: $4,975,488Net Income 2013: -$2,515,9142013Revenue 2014: $2,277,627Expenses 2014: $3,328,139Net Income 2014: -$1,050,5122014Revenue 2015: $2,725,182Expenses 2015: $2,553,649Net Income 2015: $171,5332015Revenue 2016: $2,973,570Expenses 2016: $2,777,546Net Income 2016: $196,0242016Revenue 2017: $4,026,153Expenses 2017: $3,710,835Net Income 2017: $315,3182017Revenue 2018: $4,267,303Expenses 2018: $4,235,363Net Income 2018: $31,9402018Revenue 2019: $6,749,148Expenses 2019: $5,423,672Net Income 2019: $1,325,4762019Revenue 2020: $8,438,434Expenses 2020: $8,703,349Net Income 2020: -$264,9152020Revenue 2021: $6,096,745Expenses 2021: $6,026,519Net Income 2021: $70,2262021Revenue 2022: $6,551,972Expenses 2022: $6,486,663Net Income 2022: $65,3092022Revenue 2023: $2,776,669Expenses 2023: $5,561,581Net Income 2023: -$2,784,9122023Revenue 2024: $9,312,961Expenses 2024: $4,621,084Net Income 2024: $4,691,8772024

Highlighted filing

2021

Revenue$6,096,745
Expenses$6,026,519
Net Income$70,226
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$6,096,745
Mission and Program Overview

Mission

Earn creates prosperity for working families by helping them save and invest in their futures. As the nation's leading microsavings provider, earn designs and launches online savings tools that create financial stability for america's most economically vulnerable populations. Earn's ultimate vision is that well-informed american households will achieve financial success through proven strategies, fair public policy, and their own hard work.

Saverlife envisions a world where every american can experience economic mobility. However, the existing financial system is not designed to address the needs of low-to-moderate income individuals. Saverlife believes that financial stability and economic mobility are achieved through a combination of individual agency and action with the eradication of entrenched systemic barriers. We know that the ability to save money and invest in yourself and your family is a key indicator of financial wellbeing and a critical wealth-building tool. Saverlife's proven model addresses both sides of this equation by helping our members increase their savings rates, while simultaneously leveraging data and scale to address the systemic barriers that hinder mobility. Our 600,000 members are working individually and collectively to improve their financial health by actively increasing their savings rates by 4.8x.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,140,014$2,368,746▲ $228,732
Pledges and Grants Receivable$1,592,723$1,131,780▼ $460,943
Land, Buildings, and Equipment, Net$415,434$575,267▲ $159,833
Prepaid Expenses and Deferred Charges$53,714$63,407▲ $9,693
Accounts Receivable$14,911$49,783▲ $34,872
Savings and Temporary Cash Investments$1,001$1,001→ $0
Total Assets$4,248,823$4,666,013▲ $417,190
Other Assets Total$31,026$476,029▲ $445,003
Liabilities
Accounts Payable and Accrued Expenses$479,150$724,117▲ $244,967
Other Liabilities$0$86,227▲ $86,227
Deferred Revenue$27,500$68,333▲ $40,833
Grants Payable$44,081$19,018▼ $25,063
Total Liabilities$550,731$897,695▲ $346,964
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,480,329$1,985,147▲ $504,818
Net Assets With Donor Restrictions$2,217,763$1,783,171▼ $434,592
Total Net Assets Fund Balance$3,698,092$3,768,318▲ $70,226
Total Liabilities and Net Assets / Fund Balance$4,248,823$4,666,013▲ $417,190

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$568,138$2,016,003$2,584,141
Equipment$7,129$48,297$55,426
Other Assets Org$2,432--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Leigh PhillipsCEOFT$200,482$51,500$251,982
David DerryckChief Impact OfficerFT$216,000$21,995$237,995
Ashley SherwinCOOFT$161,250$25,028$186,278
Neha GuptaVP of Market DevelopmentFT$157,500$16,642$174,142
Tim LucasVP of Research & AnalyticsFT$136,505$8,552$145,057
Shana BealDirector of CommunicationsFT$135,250$7,170$142,420
Radha SeshagiriDirector, Policy & Systems ChangeFT$130,523$6,000$136,523
Carol KastenChief Information Security OfficerPT$108,000$23,139$131,139
Joseph HarringtonDirector, Business DevelopmentFT$111,500$16,098$127,598

Board Members and Trustees

NameTitle
Nick EatonBoard Chair
Andy PeayDirector
Ben ManganDirector
Don Baylor JrDirector
Ida RademacherDirector
Jake FuentesDirector
Karin MeyerDirector
Tiffany TengSecretary
Preston DoddTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Telos Labs LLCSoftware Programming3230 UNIVERSITY AVENUE, Berkeley, CA 94704$478,194
Teal MediaMarketing And Design Services7457 FRANKLIN ROAD SUITE 218, Bloomfield Hills, MI 48301$172,500
Stanton Public Relations & MarketingPublic Relations And Marketing Services880 THIRD AVENUE 4TH FLOOR, New York, NY 10022$143,034
Revenue and Support

Revenue Composition

Contributions and Grants
$5,974,544
Program Service Revenue
$117,650
Investment Income
$885
Other Revenue
$3,666
All Other Contributions
$5,225,128
Change in Net Assets
$70,226

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,096,745
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$196,802
Total Revenue per Audited Statements
$6,293,547
Total Revenue per Form 990
$6,096,745
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,221,468
Other Expenses$2,755,051
Total Fundraising Expense$549,383
Grants and Similar Amounts Paid$50,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,537,321$152,658$139,219$1,829,198
Current Officers, Directors, Trustees, and Key Employees$458,814$152,665$238,919$850,398
Fees for Services Other$374,334$93,514$27,562$495,410
Advertising$420,823$27,098-$447,921
Depreciation Depletion$323,206$954$889$325,049
Occupancy$181,605$26,917$27,119$235,641
Other Employee Benefits$165,041$25,244$31,265$221,550
Payroll Taxes$151,238$23,133$28,650$203,021
Information Technology$154,146$5,688$1,676$161,510
Fees for Services Accounting$91,971$22,976$6,772$121,719
Pension Plan Contributions$87,382$13,366$16,553$117,301
Other Expenses$54,964$13,666$2,618$71,248
All Other Expenses$41,629$10,350$1,982$53,961
Grants to Domestic Orgs$50,000--$50,000
Office Expenses$25,362$9,736$9,583$44,681
Insurance$31,034$3,998$4,233$39,265
Fees for Services Legal$7,065$1,765$520$9,350
Travel$64$803$4,952$5,819
Total Functional Expenses$4,838,798$638,338$549,383$6,026,519

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,223,321
Expenses per Audited Statements$6,026,519
Total Expenses per Form 990$6,026,519
Expenses Not Reported on Form 990$196,802
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Goodwill Industries of Kanawha ValleyCharleston, WV501(c)(3)To Benefit Saverlife Impact Hub Communities.$10,000
Tennessee Food on Foot Foundation IncTalbott, TN501(c)(3)To Benefit Saverlife Impact Hub Communities.$10,000
You in Flood CityJohnstown, PA501(c)(3)To Benefit Saverlife Impact Hub Communities.$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advances$86,227
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 was reviewed by an outside tax professional. The form was then reviewed by the organization's management and at least one member of the board of directors. This group of individuals then discussed the contents of the return with the outside tax professional. After a full review (with modification where necessary), the final version of the tax return was provided to all members of the organization's voting body. A representative of management or the board signed and the outside tax professional electronically filed the return to the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“All employees are covered under saverlife's conflict of interest policy. Determination of whether a conflict exists is made by the employee's manager or hr. Conflicts are reviewed by hr or the ceo. If an actual or potential conflict is determined, earn will take steps to minimize or eliminate the conflict as appears appropriate under the circumstances.”

Form 990, Part VI, Section B, Line 15

“A committee of the board of directors reviews the compensation of all high level personnel annually in accordance with irs rules and regulation. Efforts are made to secure compensation date from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures. Compensation of other high level personnel and key employees is reviewed at least annually by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.”

Form 990, Part VI, Section C, Line 19

“All governing documents, financial statements, and conflict of interest policy are provided via email or mail in response to requests receievd via phone, email, or mail, and are held for the same period of time set forth in sec. 6104(d).”

Filing and Contact Details

Filer

Filer Name
Earn Inc
EIN
91-2172676
Phone
4155039818
Address
235 MONTGOMERY STREET 1050, SAN FRANCISCO, CA 94104
Doing Business As
Saverlife

Signing Officer

Name
Leigh Phillips
Title
CEO
Phone
4155039818
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leigh Phillips
Formed
2001
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Baker Tilly US Llp
Address
18500 VON KARMAN AVE 10TH FLOOR, IRVINE, CA 92612
Preparer
Brian Yacker
Phone
9492222999
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization did not change its oversight process or selection process during the tax year.”

Financial Statement Notes

PART X, LINE 2:

“The organization is a tax-exempt organization under the provisions of the internal revenue code, section 501(c)(3), and the california revenue and taxation code, section 23701(d). Accordingly, no provision for federal and state income taxes has been reflected in these financial statements. Management evaluated the organization's tax positions and concluded that the organization had maintained its tax-exempt status and has taken no uncertain tax positions that require adjustment to the financial statements. Therefore, no provision or liability for income taxes has been included in the financial statements.”

Raw XML AppendixShowing 400 of 701 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0SAVERLIFE ENVISIONS A WORLD WHERE EVERY AMERICAN CAN EXPERIENCE ECONOMIC MOBILITY. HOWEVER, THE EXISTING FINANCIAL SYSTEM IS NOT DESIGNED TO ADDRESS THE NEEDS OF LOW-TO-MODERATE INCOME INDIVIDUALS. SAVERLIFE BELIEVES THAT FINANCIAL STABILITY AND ECONOMIC MOBILITY ARE ACHIEVED THROUGH A COMBINATION OF INDIVIDUAL AGENCY AND ACTION WITH THE ERADICATION OF ENTRENCHED SYSTEMIC BARRIERS. WE KNOW THAT THE ABILITY TO SAVE MONEY AND INVEST IN YOURSELF AND YOUR FAMILY IS A KEY INDICATOR OF FINANCIAL WELLBEING AND A CRITICAL WEALTH-BUILDING TOOL. SAVERLIFE'S PROVEN MODEL ADDRESSES BOTH SIDES OF THIS EQUATION BY HELPING OUR MEMBERS INCREASE THEIR SAVINGS RATES, WHILE SIMULTANEOUSLY LEVERAGING DATA AND SCALE TO ADDRESS THE SYSTEMIC BARRIERS THAT HINDER MOBILITY. OUR 600,000 MEMBERS ARE WORKING INDIVIDUALLY AND COLLECTIVELY TO IMPROVE THEIR FINANCIAL HEALTH BY ACTIVELY INCREASING THEIR SAVINGS RATES BY 4.8X.
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IRS990/Desc0(COMMUNITY)THE SAVERLIFE COMMUNITY AND TECHNOLOGY PLATFORM IS DESIGNED TO HELP LOW-INCOME INDIVIDUALS DEVELOP A HABIT OF SAVING AND LASTING FINANCIAL STABILITY. OUR 600,000+ MEMBERS -- 80% ARE WOMEN, 65% ARE SINGLE PARENTS, AND 60% IDENTIFY AS A PERSON OF COLOR -- JOIN A COMMUNITY OF LIKE-MINDED PEOPLE TO PARTICIPATE IN SAVINGS CHALLENGES THAT HELP THEM MEET SPECIFIC OBJECTIVES, LIKE REACHING A SAVINGS DOLLAR GOAL OR BUILDING A CONSISTENT SAVINGS HABIT. THEY ALSO GAIN ACCESS TO ACTIONABLE FINANCIAL EDUCATION CONTENT, COMMUNITY FORUMS, INSPIRING STORIES, AND ADDITIONAL PRIZES AND REWARDS FOR SAVING.IN JOINING SAVERLIFE, OUR MEMBERS HAVE TAKEN A DEFINITIVE STEP TO IMPROVE THEIR FINANCIAL LIVES. THEY ARE TYPICALLY NEW SAVERS, MEANING THAT THEY ARE NOT SAVING WHEN THEY JOIN (67%), AND HAVE MONTHLY EXPENSES THAT EXCEED THEIR INCOME (49%). SAVERLIFE'S IMPACT IS CLEAR: ON AVERAGE, OUR MEMBERS INCREASE THEIR SAVINGS RATE BY 4.8X AND 55% OF OUR MEMBERS DEPOSIT $500 INTO SAVINGS WITHIN SIX-MONTHS.
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IRS990/Form990PartVIISectionAGrp/PersonNm10DAVID DERRYCK
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IRS990/Form990PartVIISectionAGrp/PersonNm12NEHA GUPTA
IRS990/Form990PartVIISectionAGrp/PersonNm13TIM LUCAS
IRS990/Form990PartVIISectionAGrp/PersonNm14SHANA BEAL
IRS990/Form990PartVIISectionAGrp/PersonNm15RADHA SESHAGIRI
IRS990/Form990PartVIISectionAGrp/PersonNm16CAROL KASTEN
IRS990/Form990PartVIISectionAGrp/PersonNm17JOSEPH HARRINGTON
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF IMPACT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11COO
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP OF MARKET DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP OF RESEARCH & ANALYTICS
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR OF COMMUNICATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR, POLICY & SYSTEMS CHANGE
IRS990/Form990PartVIISectionAGrp/TitleTxt16CHIEF INFORMATION SECURITY OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR, BUSINESS DEVELOPMENT
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IRS990/MissionDesc0SAVERLIFE (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 TO TAKE CONTROL OF THEIR FINANCIAL FUTURE.
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IRS990/OtherExpensesGrp/Desc1SAVER INCENTIVES
IRS990/OtherExpensesGrp/Desc2COVID ASSISTANCE
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IRS990/OtherExpensesGrp/FundraisingAmt12618
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt053807
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IRS990/ProgSrvcAccomActy2Grp/Desc0(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. IN PARTICULAR, SAVERLIFE LEVERAGES THE OUTSIZE ROLE OF EMPLOYERS TO EXPAND ACCESS TO SAVINGS BENEFITS. THE EMPLOYMENT SYSTEM IS A KEY DRIVER OF FINANCIAL HEALTH FOR WORKING FAMILIES. EMPLOYEE BENEFITS, BEYOND JUST SALARY, PROVIDE CRITICAL WEALTH-BUILDING SUPPORT FOR ALL WORKERS. YET, THERE IS A SIGNIFICANT GAP IN EMPLOYER-OFFERED BENEFITS FOR LOW-WAGE WORKERS. MANY LOW-WAGE WORKERS DO NOT HAVE ACCESS TO RETIREMENT BENEFITS AND, DESPITE THE CLEAR IMPACT OF EMERGENCY SAVINGS ON FINANCIAL WELL-BEING FOR LOW-TO-MODERATE INCOME INDIVIDUALS, TOO FEW EMPLOYERS OFFER THESE PRODUCTS FOR WORKERS. SAVERLIFE SOLUTIONS FILLS THIS GAP BY PARTNERING WITH EMPLOYERS TO PROVIDE OUR EFFECTIVE AND RESPONSIVE TECHNOLOGY AS A BENEFIT OFFERING, MAKING OUR SAVINGS PLATFORM ACCESSIBLE TO THOUSANDS OF LOW-WAGE WORKERS ACROSS A RANGE OF INDUSTRIES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0958829
IRS990/ProgSrvcAccomActy2Grp/GrantAmt050000
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt011380
IRS990/ProgSrvcAccomActy3Grp/Desc0OTHER PROGRAM ACTIVITIES.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0923483
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt013449
IRS990/ProgSrvcAccomActyOtherGrp/Desc0(VOICE) DESPITE THE SUCCESS OF SAVERLIFE IN INCREASING SAVINGS RATES AT THE INDIVIDUAL LEVEL, PERVASIVE BARRIERS TO ECONOMIC MOBILITY (SUCH AS DEBT, INCOME VOLATILITY, HOUSING COSTS, ETC.) MUST BE SOLVED AT BROADER SYSTEMIC LEVELS. IN ORDER TO DESIGN AND ADOPT POLICIES THAT WILL BENEFIT THOSE LIVING WITH LOW-INCOMES AND REBUILD A MORE EQUITABLE ECONOMY, IT IS CRITICAL THAT GOVERNMENT, POLICYMAKERS, BUSINESSES, AND SOCIAL SERVICE ORGANIZATIONS USE DATA AND EVIDENCE - NOT ASSUMPTIONS - TO UNDERSTAND BOTH HOW THE EXISTING FINANCIAL SYSTEM HAS FAILED THESE COMMUNITIES AND HOW THE CURRENT CRISIS IS IMPACTING THEM. SAVERLIFE VOICE IS UNIQUELY POSITIONED TO BRING TO LIGHT THE REAL FINANCIAL STRUGGLES OF WORKING AMERICANS AND TO PROVIDE DATA AND EVIDENCE TO GUIDE INCLUSIVE PROGRAM AND POLICY SOLUTIONS. OUR SAVINGS PLATFORM PROVIDES UNIQUE ACCESS TO REAL-TIME, HOUSEHOLD-LEVEL FINANCIAL TRANSACTIONS AND DATA THAT WE USE TO MEASURE CHANGES IN INCOME, SPENDING, DEBT, AND SAVINGS AND TO DETERMINE THE EFFICACY OF POLICY INTERVENTIONS AT THE HOUSEHOLD LEVEL. IN TANDEM, WE RAPIDLY GATHER PERSPECTIVES FROM OUR MEMBERS THROUGH SURVEYS AND INTERVIEWS TO UNDERSTAND HOW INDIVIDUALS AND FAMILIES ARE FARING IN A RAPIDLY SHIFTING ECONOMIC ENVIRONMENT AND ENGAGE THEM DIRECTLY TO SHARE THEIR THOUGHTS AND FEELINGS ON CURRENT AND PROPOSED POLICY SOLUTIONS. THIS COMBINATION OF DATA AND VOICES GIVES SAVERLIFE VOICE A UNIQUE ABILITY TO ENGAGE THOSE MOST AFFECTED BY AN INEQUITABLE FINANCIAL SYSTEM IN THE DEVELOPMENT OF EFFECTIVE SOLUTIONS. BY GATHERING EVIDENCE AND LIFTING UP THE VOICES OF LOW-WAGE, "ESSENTIAL" WORKERS, SAVERLIFE IS HELPING WRITE A COUNTER-NARRATIVE THAT PUSHES BACK AGAINST ILL-INFORMED STEREOTYPES ABOUT FINANCIAL NEED IN THE U.S.
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IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt014334
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IRS990/PYOtherRevenueAmt09414
IRS990/PYProgramServiceRevenueAmt0269808
IRS990/PYRevenuesLessExpensesAmt0-264915
IRS990/PYSalariesCompEmpBnftPaidAmt02436452
IRS990/PYTotalExpensesAmt08703349
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08438434

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,666,013
Liabilities
$897,695
Net assets
$3,768,318
Revenue
$6,096,745
Expenses
$6,026,519
Net income
$70,226
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.97$0.23$5.74$9.31$4.62$4.69
2023Detailed filing. Detailed filing data is available for this year.$1.26$0.21$1.05$2.78$5.56$2.78
2022Detailed filing. Detailed filing data is available for this year.$4.32$0.48$3.83$6.55$6.49$0.07
2021Detailed filing. Detailed filing data is available for this year.$4.67$0.90$3.77$6.10$6.03$0.07
2020Detailed filing. Detailed filing data is available for this year.$4.25$0.55$3.70$8.44$8.70$0.26
2019Detailed filing. Detailed filing data is available for this year.$4.37$0.41$3.96$6.75$5.42$1.33
2018Detailed filing. Detailed filing data is available for this year.$3.06$0.42$2.64$4.27$4.24$0.03
2017Detailed filing. Detailed filing data is available for this year.$3.58$0.97$2.61$4.03$3.71$0.32
2016Detailed filing. Detailed filing data is available for this year.$3.10$0.81$2.29$2.97$2.78$0.20
2015Detailed filing. Detailed filing data is available for this year.$3.53$1.44$2.09$2.73$2.55$0.17
2014Summary only. Only limited summary data is available for this year.$4.56$2.64$1.92$2.28$3.33$1.05
2013Detailed filing. Detailed filing data is available for this year.$6.68$3.71$2.97$2.46$4.98$2.52
2012Summary only. Only limited summary data is available for this year.$8.99$3.50$5.49$3.82$5.31$1.49
2011Summary only. Only limited summary data is available for this year.$10.7$1.28$9.43$4.95$4.41$0.55