Overview
What is My Very Own Bed?
My Very Own Bed is a compassionate nonprofit organization based in Minneapolis, Minnesota. Their primary mission is to support families who have recently secured stable housing by providing them with new beds and essential bedding items, which often include dream kits. This initiative aims to provide children with a comfortable and personal sleeping space, promoting restorative sleep and improving their mental health and behavior at home and school. The organization has experienced substantial growth in its reach, helping 1,224 children in 497 families in 2021, compared to 676 children in 2019. With increased community support, they have expanded their operations and hired a full-time program manager to manage their volunteer base and relationships with referral partners and families. My Very Own Bed's new, larger work space also allows for greater operational efficiency in handling and storing inventory. The organization continues to focus on its long-term growth, aiming to provide new beds and the opportunity for healthy sleep to more children in the Twin Cities.
Official website here: www.myveryownbed.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 98% (Four-Star out of Four Stars)
My Very Own Bed has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong overall performance in accountability and finance. The charity scored exceptionally well in accountability, achieving a perfect score of 100%. This indicates robust governance and transparency practices, including having an entirely independent board and various oversight policies in place. The organization also demonstrates a high program expense ratio of 83.22%, showing a strong commitment to allocating resources towards its mission.
In terms of community engagement, My Very Own Bed received a solid score of 86% in Culture & Community. The charity excels in constituent feedback, with a perfect score in feedback collection and usage, indicating that it actively seeks and implements input from those it serves. This responsiveness to community needs is a notable strength.
However, there are areas for improvement, particularly in equity strategies where it scored 79 out of 100. While it shows good practices, the organization could enhance its equity policies and processes, which currently received a score of 4 out of 7. Overall, My Very Own Bed demonstrates strong financial health and effective engagement with its community, but addressing equity could further strengthen its impact.
This AI summary has been generated from information found on Charity Navigator.
Is My Very Own Bed legitimate?
My Very Own Bed is a legitimate nonprofit organization registered as a 501(c)(3) entity. My Very Own Bed submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $162,698
For more financial information, click here
Official website here: www.myveryownbed.org
What is the mission statement of My Very Own Bed?
My Very Own Bed's mission is centered around providing new beds and linens to children from families who have recently secured stable housing. This organization aims to offer these children a comfortable space for restorative sleep, which can significantly impact their well-being at home and school. By supplying essential items like beds, My Very Own Bed contributes to the families' housing stability. The organization has seen a growth in its reach, with 1,224 children benefiting in 2021, compared to 676 in 2019. Recent developments include hiring a full-time program manager and moving into a larger workspace, which has improved operational efficiency. My Very Own Bed is currently focusing on a strategic plan for continued growth, aiming to provide new beds to more children in the future.
Official website here: www.myveryownbed.org
Who is the CEO of My Very Own Bed?
Michael Allen is the Board Member of My Very Own Bed.
Official website here: www.myveryownbed.org
What is the revenue of My Very Own Bed?
My Very Own Bed's revenue in 2022 was $925,000.
Official website here: www.myveryownbed.org
Who are the executives of My Very Own Bed and what are their salaries?
The average compensation at My Very Own Bed during 2022 was $32,540. There are 5 employees at My Very Own Bed.
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- Compensation: $68,000
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Official website here: www.myveryownbed.org
Where can I find the form 990 for My Very Own Bed?
My Very Own Bed's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.myveryownbed.org
Learn more at the official website: www.myveryownbed.org
Mission Statement of My Very Own Bed
My Very Own Bed, a nonprofit organization, is dedicated to providing a crucial service to children in families who have recently secured stable housing. Their mission is to offer new beds and linens to these children, ensuring they no longer have to sleep on the floor or share a bed with a parent or sibling. This initiative not only provides the children with a comfortable space to rest but also contributes to the families' housing stability by offering an essential item that they might not be able to afford otherwise. By doing so, My Very Own Bed transforms a new house into a home for these families.
In 2021, My Very Own Bed reached 1,224 children in 497 families, marking a significant increase from the previous years. Through community support, the organization has grown and expanded its reach. The impact of these new beds is evident in the improved sleep, mental health, and behavior of the children, both at home and in school. In 2022, the organization hired a full-time program manager and moved into a larger space, enhancing their operational efficiency and capacity to serve more families. My Very Own Bed's future plans include continued growth, aiming to provide new beds and the opportunity for healthy sleep to more children in the coming years.
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Impact
July, 2024
My Very Own Bed's impact is profound in the Twin Cities community. By providing new beds and linens to children of families who have recently secured stable housing, the organization is addressing a critical need for these vulnerable individuals. The beds not only offer children a comfortable space of their own for restorative sleep but also contribute to their well-being, housing stability, and academic success.
Through community support, My Very Own Bed has been able to reach a growing number of children, with significant increases in the families served over the years. The organization's efforts have resulted in improved sleep, mental health, attitude, and behavior for the children, both at home and in the classroom.
In addition, recent developments such as hiring a full-time program manager, moving to a larger space for improved operations, and completing a new strategic plan demonstrate My Very Own Bed's commitment to continued growth and impact in the community. Overall, the organization's focus on providing beds and promoting healthy sleep for children is making a tangible difference in the lives of families in need.
This information is meant to be a general summary of My Very Own Bed. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$1,565
- Program Service Revenue: $46,525
- Gross Receipts: $1,005,436
Assets and Liabilities:
- Total Assets: $507,068
- Total Liabilities: $71,165
- Net Assets: $435,903
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REFERRAL FEES
Revenue
$46,525
Organization Details
Founding Year
2016
Phone
(612) 799-1753Principal Officer
Michael Allen
Main Address
34 13TH AVE NE, MINNEAPOLIS, MN, 55413
Website
www.myveryownbed.orgNTEE Category
Code: L41 - Housing
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