About
SaverLife is a national nonprofit that partners with its members to improve financial well-being today while shaping the financial products, programs, and policies of tomorrow. Based in San Francisco and operating legally as EARN, Inc., the organization was formed in 2001 in California. Through its app and online platform, SaverLife provides personalized financial guidance, trusted resources, and cash rewards that help people with low-to-moderate incomes build savings and healthy financial habits.
Mission
SaverLife's mission is to partner with its members to improve financial well-being today while shaping the financial products, programs, and policies of tomorrow. Its guiding philosophy is "We don't build for our members. We build with them" — creating financial solutions with the people they are meant to serve.
What they do
- Personalized financial navigation: an app that offers recommendations reflecting each member's goals and financial priorities, from paying off student loans to saving for retirement or buying a home
- Trusted resources: helpful tools and referrals surfaced when they are most relevant to a member's situation
- Savings rewards: cash rewards that motivate members to build healthy financial habits and grow savings
- Member-informed research: partnering with members to generate insights that shape better financial products, programs, and policies, published through its research library on topics such as wealth building, retirement, and household energy costs
Scale and impact
SaverLife reports a community of more than 800,000 members. According to the organization, 61 percent of members save $500 or more within six months of joining, 56 percent improve their Financial Health Score over time, and members have collectively deposited $1 billion into their savings accounts. Its research also documents the challenges members face: 74 percent cannot set money aside due to insufficient income and 42 percent struggle with unmanageable credit card debt.
Financials
SaverLife is supported by philanthropy, with partners including JPMorgan Chase and the Robert Wood Johnson Foundation. According to Form 990 data on ProPublica Nonprofit Explorer (filed under the legal name Earn Inc), the organization reported total revenue of $6.6 million and total expenses of $6.5 million for fiscal year 2022, and total revenue of $2.8 million with total expenses of $5.6 million for fiscal year 2023. SaverLife publishes its Form 990s and independent audit reports from 2018 through 2024 on its website.
Governance
SaverLife is a 501(c)(3) nonprofit headquartered at 548 Market St., San Francisco, CA. Its legal name is EARN, Inc. (EIN 91-2172676), doing business as SaverLife, with 2001 as its year of formation per its IRS Form 990.