Earn Inc

Organization Overview

Earn Inc, operating under the name Saverlife, is located in San Francisco, CA. The organization was established in 2002. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saverlife 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 12/2021, Saverlife generated $6.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $6.0m during the year ending 12/2021. While expenses have increased by 13.1% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

(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.


(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.


OTHER PROGRAM ACTIVITIES.


(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.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Leigh Phillips
CEO
$230,482
David Derryck
Chief Impact Officer
$226,000
Ashley Sherwin
COO
$163,250
Neha Gupta
VP Of Market Development
$159,500
Tim Lucas
VP Of Research & Analytics
$136,505
Shana Beal
Director Of Communications
$135,250

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Telos Labs Llc
Software Programming
$478,194
Teal Media
Marketing And Design Services
$172,500
Stanton Public Relations & Marketing
Public Relations And Marketing Services
$143,034
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $749,416
All other contributions, gifts, grants, and similar amounts not included above$5,225,128
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,974,544
Total Program Service Revenue$117,650
Investment income $885
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 $6,096,745

Grants Awarded

Over the last fiscal year, Earn Inc has awarded $30,000 in support to 3 organizations.

Grant RecipientAmount

GOODWILL INDUSTRIES OF KANAWHA VALLEY

Org PageRecipient Profile

Charleston, WV

PURPOSE: TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES.

$10,000

YOU IN FLOOD CITY

Org PageRecipient Profile

Johnstown, PA

PURPOSE: TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES.

$10,000

TENNESSEE FOOD ON FOOT FOUNDATION INC

Org PageRecipient Profile

Talbott, TN

PURPOSE: TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES.

$10,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 7 grants that Earn Inc has recieved totaling $1,760,764.

Awarding OrganizationAmount
Prudential Foundation Inc

Newark, NJ

PURPOSE: SAVERLIFE: BUILDING ECONOMIC MOBILITY FOR WORKING FAMILIES THROUGH COMMUNITY, INSIGHTS AND ADVOCACY, AND EMPLOYER PARTNERSHIPS

$598,807
Fidelity Foundation

Boston, MA

PURPOSE: TECHNOLOGY

$431,000
Prudential Foundation Inc

Newark, NJ

PURPOSE: SAVERLIFE: BUILDING ECONOMIC MOBILITY FOR WORKING FAMILIES THROUGH COMMUNITY, INSIGHTS AND ADVOCACY, AND EMPLOYER PARTNERSHIPS

$400,000
Prudential Foundation Inc

Newark, NJ

PURPOSE: BUILDING THE FINANCIAL HEALTH OF THE AMERICAN WORKFORCE WITH SAVERLIFE

$200,000
Silicon Valley Community Foundation

Mountain View, CA

PURPOSE: Community Development

$75,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$31,207
View Grant Recipient Profile

Create an account to unlock the data you need.

or