Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2002.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
17 people listed on the 990; $963K paid to officers and key staff.
Leigh Phillips’s $250K as CEO is at the 90th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Leigh Phillips | $250,000 | $216,000 | $216,000 | $230,482 | $225,000 |
| David Derryck | — | — | — | $226,000 | $210,000 |
| Sarah Willis | $210,000 | — | — | — | — |
| Ashley Sherwin | — | $201,400 | $190,000 | $163,250 | — |
| Megan Wong | — | — | — | — | $175,210 |
| Neha Gupta | — | $172,536 | $165,900 | $159,500 | $102,295 |
| Mathieu Ronald Despard | $170,000 | — | — | — | — |
| Susan Lyon | $164,375 | $145,673 | $133,250 | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Helps low-to-moderate income Americans build savings and overcome financial barriers for economic mobility.
Questions for Earn INC
Your first name shows with your question. Earn INC answers here, for everyone.
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(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…
(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.
(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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.5M | $2.1M |
| Land, buildings, equipmentLn 10c | $174K | $415K |
| Total assetsLn 16 | $4.4M | $4.2M |
| LiabilitiesLn 26 | $407K | $551K |
| Net assetsLn 32 | $4.0M | $3.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $637K | $637K | ||
| Grants to domestic individualsLn 2 | $3.2M | $3.2M | ||
| Pay of current officers, directors and key staffLn 5 | $463K | $298K | $70K | $94K |
| Other salaries and wagesLn 7 | $1.6M | $1.2M | $188K | $168K |
| Pension plan contributionsLn 8 | $76K | $58K | $10K | $8K |
| Other employee benefitsLn 9 | $165K | $128K | $17K | $20K |
| Payroll taxesLn 10 | $150K | $115K | $17K | $18K |
| Legal feesLn 11b | $287K | $286K | $1K | |
| Accounting feesLn 11c | $72K | $72K | ||
| Other fees for servicesLn 11g | $289K | $198K | $70K | $22K |
| Advertising and promotionLn 12 | $389K | $284K | $97K | $8K |
| Office expensesLn 13 | $60K | $9K | $45K | $7K |
| Information technologyLn 14 | $776K | $709K | $51K | $16K |
| OccupancyLn 16 | $240K | $177K | $34K | $29K |
| TravelLn 17 | $4K | $271 | $1K | $2K |
| Depreciation, depletion and amortizationLn 22 | $125K | $122K | $1K | $1K |
| InsuranceLn 23 | $15K | $15K | ||
| Other expenses (24a–d)Ln 24 | $117K | $67K | $50K | |
| All other expensesLn 24e | $39K | $22K | $8K | $8K |
| Total functional expensesLn 25 | $8.7M | $7.6M | $746K | $401K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $9.3M | $4.6M | $4.7M | $5.7M | 990 PDF |
| FY2023 | $2.8M | $5.6M | −$2.8M | $1.0M | 990 PDF |
| FY2022 | $6.6M | $6.5M | $65K | $3.8M | 990 PDF |
| FY2021 | $6.1M | $6.0M | $70K | $3.8M | 990 PDF |
| FY2020 Viewing | $8.4M | $8.7M | −$265K | $3.7M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $8,438,434 revenue, 12 lines filed
Part VI · Governance 8 of 8 board members independent, no flags
Part VIII · Statement of revenue $8,438,434 across 7 lines filed
Part IX · Statement of functional expenses $8,703,349 across 19 lines filed
Part X · Balance sheet $4,248,823 assets, 16 lines filed
Part XI · Reconciliation of net assets $3,698,092 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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