Overview
What is Earn Inc?
Earn Inc, now known as SaverLife, is a national nonprofit organization based in San Francisco, California. With a mission to empower individuals living on low-to-moderate incomes, SaverLife utilizes financial technology to enhance their financial health and well-being. Through their app, members receive personalized financial content, savings rewards, trusted referrals, and access to a supportive online community. SaverLife's innovative approach encourages members to deposit 15% of their income into savings, and 56% of members show improvement in their financial health score within six, twelve, and eighteen months of joining. SaverLife's work is driven by their belief that everyone deserves equal opportunities to build economic mobility and secure a financially stable future. With a team of 36 dedicated employees, SaverLife is committed to inspiring, informing, and rewarding Americans in need of financial assistance.
Official website here: www.saverlife.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%
EARN Inc has achieved a Four-Star out of Four Star rating from Charity Navigator, which reflects its strong commitment to accountability and finance. The organization scored 100% in the Accountability & Finance category, indicating excellent practices in financial management and transparency. With an independent board composed entirely of eight members, EARN demonstrates a solid governance structure. The program expense ratio is impressive at 82.67%, showing a significant portion of funds directed towards its mission.
User feedback highlights the positive impact of EARN's programs, particularly in helping individuals achieve financial security and homeownership. Testimonials describe life-changing experiences, with clients expressing gratitude for the support received, which has enabled them to build savings and overcome economic challenges. The organization is praised for its supportive staff and effective financial education programs that inspire confidence and motivation.
While the overall ratings and reviews indicate a high level of satisfaction, the focus remains largely on financial empowerment and community impact. However, no significant limitations or concerns were noted in the available data, suggesting that EARN Inc is operating effectively in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Earn Inc legitimate?
Earn Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Earn Inc 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: $459,617
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,600,564
For more financial information, click here
Official website here: www.saverlife.org
What is the mission statement of Earn Inc?
Earn Inc, now known as SaverLife, is a nonprofit organization with a mission to inspire and empower individuals living on low-to-moderate incomes to improve their financial well-being. Utilizing technology and strategic partnerships, SaverLife provides methods and motivation for people to take control of their financial future. The organization serves over 635,000 individuals across the country through its financial technology platform, offering personalized experiences including financial content, savings rewards, trusted referrals, an online community, and opportunities for advocacy and policy work. SaverLife's members consistently deposit a significant portion of their income into savings, and the organization has shown to positively impact the financial health of its members.
Official website here: www.saverlife.org
Who is the CEO of Earn Inc?
Leigh Phillips is the Chair of Earn Inc. The CEO's salary of Earn Inc is $216,000 and their total compensation is $238,493.
Official website here: www.saverlife.org
What is the revenue of Earn Inc?
Earn Inc's revenue in 2022 was $6,551,972.
Official website here: www.saverlife.org
Who are the executives of Earn Inc and what are their salaries?
The average compensation at Earn Inc during 2022 was $85,005. There are 36 employees and 11 volunteers at Earn Inc.
Here are 18 key members and their salaries (Earn Inc's CEO's salary is $216,000 and their total compensation is $238,493):
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- Compensation: $216,000
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- Other: $22,493
- Compensation: $190,000
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- Other: $31,124
- Compensation: $165,900
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- Compensation: $159,126
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- Compensation: $138,000
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- Other: $6,375
- Compensation: $133,250
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- Other: $15,962
- Compensation: $132,000
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- Other: $6,351
Official website here: www.saverlife.org
Where can I find the form 990 for Earn Inc?
Earn Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.saverlife.org
Learn more at the official website: www.saverlife.org
Mission Statement of Earn Inc
Earn Inc, formerly known as SaverLife, is a national nonprofit organization with a mission to enhance the financial health of individuals living on low-to-moderate incomes. The organization believes in equal opportunities for everyone to build economic mobility and achieve financial well-being. Earn Inc is dedicated to inspiring, informing, and rewarding the millions of Americans who require assistance in saving money. By leveraging engaging technologies and strategic partnerships, Earn Inc provides methods and motivation for working people to take charge of their financial future.
The nonprofit organization operates a financial technology platform serving over 635,000 people across the country. Through their app, Earn Inc offers a personalized experience to its members, including financial content, savings rewards and incentives, trusted referrals, access to a supportive online community, and opportunities to engage in advocacy and policy work. Earn Inc's members deposit 15% of their income into savings, and the organization reports that 56% of SaverLife members improve their financial health score at 6, 12, and 18 months after joining. This indicates that Earn Inc's mission to foster financial well-being is successful in inspiring and empowering its members.
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Impact
July, 2024
Earn Inc's impact can be seen in the improved financial health of people living on low-to-moderate incomes. The organization's SAVERLIFE program empowers over 635,000 individuals across the country by providing them with personalized financial content, savings rewards, trusted referrals, and access to a supportive online community. Through their efforts, Earn Inc has successfully encouraged members to save 15% of their income and has seen a significant 56% improvement in their financial health scores at different intervals after joining. This tangible progress demonstrates Earn Inc's commitment to promoting economic mobility and financial well-being for all individuals, regardless of their income levels.
This information is meant to be a general summary of Earn Inc. 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: $236
- Program Service Revenue: $284,418
- Gross Receipts: $6,551,972
Assets and Liabilities:
- Total Assets: $4,318,244
- Total Liabilities: $484,617
- Net Assets: $3,833,627
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEE
Revenue
$284,418
Organization Details
Founding Year
2001
Phone
(415) 503-9818Principal Officer
Leigh Phillips
Main Address
548 MARKET STREET PMB 46387, SAN FRANCISCO, CA, 94104
Website
www.saverlife.orgNTEE Category
Code: T99 - Philanthropy
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