2022-11-15T18:22:25-06:00 2021-12-31 390859910 BAKER TILLY US LLP 18500 VON KARMAN AVE 10TH FLOOR IRVINE CA 92612 990 2021-01-01 912172676 EARN INC EARN 4155039818 235 MONTGOMERY STREET 1050 SAN FRANCISCO CA 94104 LEIGH PHILLIPS CEO 4155039818 2022-11-15 1 LEIGH PHILLIPS 999009999 BRIAN YACKER P00401346 9492222999 2022-11-15 X 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z SAVERLIFE LEIGH PHILLIPS 235 MONTGOMERY STREET 1050 SAN FRANCISCO CA 94104 6096745 0 X WWW.SAVERLIFE.ORG X 2001 CA 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. 9 9 0 9 0 0 8157780 5974544 269808 117650 1432 885 9414 3666 8438434 6096745 3854823 50000 0 0 2436452 3221468 0 0 549383 2412074 2755051 8703349 6026519 -264915 70226 4248823 4666013 550731 897695 3698092 3768318 X SAVERLIFE (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. 0 0 2175259 78487 (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. 958829 50000 11380 (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. 923483 13449 OTHER PROGRAM ACTIVITIES. 781227 14334 (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. 781227 14334 4838798 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 37 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X CHARLES BELLEVILLE 4155039818 235 MONTGOMERY STREET 1050 SAN FRANCISCO CA 94104 NICK EATON BOARD CHAIR 1.00 X X 0 0 0 PRESTON DODD TREASURER 1.00 X X 0 0 0 TIFFANY TENG SECRETARY 1.00 X X 0 0 0 DON BAYLOR JR DIRECTOR 1.00 X 0 0 0 JAKE FUENTES DIRECTOR 1.00 X 0 0 0 BEN MANGAN DIRECTOR 1.00 X 0 0 0 ANDY PEAY DIRECTOR 1.00 X 0 0 0 IDA RADEMACHER DIRECTOR 1.00 X 0 0 0 KARIN MEYER DIRECTOR 1.00 X 0 0 0 LEIGH PHILLIPS CEO 40.00 X 230482 0 21500 DAVID DERRYCK CHIEF IMPACT OFFICER 40.00 X 226000 0 11995 ASHLEY SHERWIN COO 40.00 X 163250 0 23028 NEHA GUPTA VP OF MARKET DEVELOPMENT 40.00 X 159500 0 14642 TIM LUCAS VP OF RESEARCH & ANALYTICS 40.00 X 136505 0 8552 SHANA BEAL DIRECTOR OF COMMUNICATIONS 40.00 X 135250 0 7170 RADHA SESHAGIRI DIRECTOR, POLICY & SYSTEMS CHANGE 40.00 X 130523 0 6000 CAROL KASTEN CHIEF INFORMATION SECURITY OFFICER 32.00 X 108000 0 23139 JOSEPH HARRINGTON DIRECTOR, BUSINESS DEVELOPMENT 40.00 X 111500 0 16098 1401010 0 132124 9 0 1 0 TELOS LABS LLC 3230 UNIVERSITY AVENUE BERKELEY CA 94704 SOFTWARE PROGRAMMING 478194 TEAL MEDIA 7457 FRANKLIN ROAD SUITE 218 BLOOMFIELD HILLS MI 48301 MARKETING AND DESIGN SERVICES 172500 STANTON PUBLIC RELATIONS & MARKETING 880 THIRD AVENUE 4TH FLOOR NEW YORK NY 10022 PUBLIC RELATIONS AND MARKETING SERVICES 143034 3 749416 5225128 5974544 PROGRAM SERVICE FEES 900099 117650 117650 117650 885 885 MISCELLANEOUS REVENUE 900099 3666 3666 3666 6096745 117650 0 4551 50000 50000 850398 458814 152665 238919 1829198 1537321 152658 139219 117301 87382 13366 16553 221550 165041 25244 31265 203021 151238 23133 28650 9350 7065 1765 520 121719 91971 22976 6772 495410 374334 93514 27562 447921 420823 27098 44681 25362 9736 9583 161510 154146 5688 1676 235641 181605 26917 27119 5819 64 803 4952 325049 323206 954 889 39265 31034 3998 4233 WEB-BASED SERVICES 502457 441779 53807 6871 SAVER INCENTIVES 166220 166220 COVID ASSISTANCE 74800 74800 SURVEY INCENTIVES 71248 54964 13666 2618 53961 41629 10350 1982 6026519 4838798 638338 549383 2140014 2368746 1001 1001 1592723 1131780 14911 49783 53714 63407 2639567 2064300 415434 575267 31026 476029 4248823 4666013 479150 724117 44081 19018 27500 68333 0 86227 550731 897695 X 1480329 1985147 2217763 1783171 3698092 3768318 4248823 4666013 70226 0 X X 0 1 X 1 0 X 3955389 4069827 6318475 8157780 5974544 28476015 3955389 4069827 6318475 8157780 5974544 28476015 11944492 16531523 1432 885 2317 9414 3666 13080 28491412 1635445 0.58020 0.59400 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISC REVENUE - 2020 AMOUNT: $ 9,414. 2021 AMOUNT: $ 3,666. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55426 48297 7129 2584141 2016003 568138 575267 REFUNDABLE DEPOSITS 32680 VENDOR CREDIT 13505 ERC RECEIVABLE 427412 OTHER ASSETS 2432 476029 ADVANCES 86227 86227 X 6293547 196802 196802 6096745 0 6096745 6223321 196802 196802 6026519 0 6026519 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. 1 TENNESSEE FOOD ON FOOT FOUNDATION INC 105 SCENIC VIEW DR TALBOTT TN 37877 223969109 501(C)(3) 10000 0 TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES. GOODWILL INDUSTRIES OF KANAWHA VALLEY 215 VIRGINIA STREET WEST CHARLESTON WV 25302 550380828 501(C)(3) 10000 0 TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES. YOU IN FLOOD CITY 3798 MENOHER ROAD JOHNSTOWN PA 15905 833491228 501(C)(3) 10000 0 TO BENEFIT SAVERLIFE IMPACT HUB COMMUNITIES. 3 0 PART I, LINE 2: GRANTS PAID TO NEIGHBORHOOD TRUST FINANCIAL PARTNERS DURING 2021 WERE CONTRACTUALLY REQUIRED SUBGRANT PAYMENTS. AS PART OF OUR PROCESS TO SUBGRANT, WE ISSUED NTFP A SUBGRANT AGREEMENT. THE AGREEMENT STIPULATED THAT ALL FUNDS WERE TO BE USED AS OUTLINED IN THE PROJECT PLAN AND BUDGET APPROVED BY THE FUNDER. ASIDE FROM THE AFOREMENTIONED AGREEMENT, SAVERLIFE DID NOT MONITOR THE SPECIFIC USE OF THESE GRANT FUNDS OR REQUIRE FINANCIAL REPORTING. SAVERLIFE MADE TWO UNRESTRICTED GRANTS TO ORGANIZATIONS IN COMMUNITIES WHERE WE HAVE GEOGRAPHICALLY-FOCUSED PROGRAMMATIC ACTIVITY. THESE GRANTS WERE UNRESTRICTED COMMUNITY SUPPORT TO OTHER NONPROFITS AND THE USE OF FUNDS WAS NOT MONITORED. SAVER INCENTIVES AND PRIZES PAID TO INDIVIDUALS WERE MADE IN RECOGNITION OF INDIVIDUALS WHO MET SAVINGS GOALS OR ENGAGED WITH THE SAVERLIFE TECHNOLOGY PLATFORM OR COMMUNITY. THE VARIOUS TYPES OF PRIZES AND REWARDS WERE BASED ON A WIDE RANGE OF ACTIVITIES AND ELIGIBILITY WAS DETERMINED PRIOR TO PAYMENTS BEING MADE. COVID ASSISTANCE PAYMENTS WERE UNRESTRICTED PAYMENTS TO INDIVIDUALS PRE-SCREENED TO MEET VARIOUS FUNDERS' REQUIREMENTS BE THEY GEOGRAPHIC OR NEED-BASED. NO EFFORT TO MONITOR THE USE OF THESE FUNDS WAS NECESSARY. X X X X 0 0 0 0 0 0 0 0 0 LEIGH PHILLIPS CEO 200482 0 30000 0 0 0 6000 0 15500 0 251982 0 0 0 DAVID DERRYCK CHIEF IMPACT OFFICER 216000 0 10000 0 0 0 6000 0 5995 0 237995 0 0 0 ASHLEY SHERWIN COO 161250 0 2000 0 0 0 6000 0 17028 0 186278 0 0 0 NEHA GUPTA VP OF MARKET DEVELOPMENT 157500 0 2000 0 0 0 6000 0 8642 0 174142 0 0 0 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). FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.