MyPath
Powering youth potential, seeding economic mobility.
MyPath
EIN: 94-3098928
as of September 2024
as of September 09, 2024
Mission
MyPath is a national nonprofit focused on paving economic pathways for low-income youth. ENGINEERING EFFECTIVE MODELS. We design, test and scale models to support cities, youth employment programs and financial institutions to build economic pathways for low-income youth. SHARING WHAT WORKS. Once proof of concept is established, MyPath shares our best practices and evidence-based models through training and technical assistance to support the adoption of our models. ADVANCING POLICY CHANGE. MyPath engages youth and other stakeholders to push for policy and systems-level changes that will improve pathways for low-income youth.
Ruling year
1994
Founder and Chief Executive Officer
Ms. Margaret Libby
Main address
2430 Mission Street
San Francisco, CA 94110 USA
Formerly known as
Mission SF Community Financial Center
EIN
94-3098928
Economics for youth
Youth organizing
Financial counseling
Population served
Adolescents
Low-income people
Children and youth
Young adults
Economically disadvantaged people
NTEE code
Youth Development Programs (O50)
Financial Counseling, Money Management (P51)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
What we aim to solve
Twenty million young adults, aged 16 to 24, across the nation are earning their first paychecks, often in youth employment programs. Many grow up in financial deserts without access to safe, quality financial tools and information. After securing employment, they lose their hard-earned income to high-cost check cashers and end up on a dead-end financial path. Furthermore, these young adults are often not informed about the importance of credit building, nor are they given pathways to safely and responsibly do so. Recent research by the Consumer Financial Protection Bureau found that nearly four in 10 of our country’s 26 million credit invisibles — people with no credit score — are under age 25. From young adults who lack a credit history, emerging research indicates that many more have poor credit. Without credit or with poor credit, young adults from low-income communities, face serious barriers to accessing economic opportunity and achieving economic mobility.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Financial Capability
MyPath's Financial Capability programs transform first paychecks into economic pathways. We support cities and nonprofits to integrate our banking, saving and credit-building models into their youth employment programs, and support financial institutions to adapt their products for youth.
Advocacy & Policy
We engage youth, policymakers, regulators and other stakeholders to advance policy and systems-level changes that will improve economic rights, opportunities and financial pathways for youth from low-income communities.
As part of this work, we offer a multi-year Youth Advocacy and Leadership Program for high school students and young adults interested in becoming active participants, advocates and leaders in the economic justice movement. Through public engagements, participants illuminate the barriers to youth financial inclusion to activate allies and stakeholders and drive systemic change to expand the resources outlined in MyPath’s Youth Economic Bill of Rights.
Guaranteed Income & Financial Mentoring
Since 2020, MyPath has delivered Guaranteed Income projects with Financial Mentoring supports to transition age youth, foster youth, and pregnant and parenting teens. MyPath's Youth Financial Mentor framework is the first of its kind to incorporate youth development and trauma-informed practices in preparing financial mentors to effectively work with young people. The curriculum incorporates core activities including a financial assessment, goal setting, and fincap pathways, as well as comprehensive guides, resources, and ongoing support for mentors.
FinTech
MyPath is developing MyPath NEXT, a dynamic next-generation fintech platform that will act as a financial capability hub for youth participants, alumni, and staff at our partner organizations and agencies. Youth will be able to access: financial education; connections to vetted financial products and services; credit scores; and financial mentoring. Partners will be able to access: resources that expand their capacity to address youth’s financial needs and support the adoption of financial capacity practices and policies across their organizations; training and support; and data to monitor and evaluate youth's progression.
Where we work
Awards
Leadership Award 2020
James Irvine Foundation
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Evaluation documents
Download evaluation reportsNumber of organizations accessing technical assistance offerings
This metric is no longer tracked.Totals By Year
Population(s) Served
Young adults, Low-income people
Related Program
Financial Capability
Type of Metric
Output - describing our activities and reach
Direction of Success
Holding steady
Our Sustainable Development Goals
Learn more about Sustainable Development Goals.
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Understanding that jobs and income alone are not enough for youth to succeed, MyPath combines employment and earnings with quality financial tools, information, and hands-on experience. We support young people to take control of their finances by providing financial education along with youth-friendly savings and credit-building products to power youth paychecks into lasting economic mobility. In partnership with city governments, nonprofits and financial institutions, we embed our financial capability model into youth employment programs, so youth have the opportunity to learn through hands-on experience with quality financial products in a safe environment. Our models open doors for youth to build savings, credit and confidence — all of which are drivers of economic mobility.
What are the organization's key strategies for making this happen?
Our Financial Capability models are the only ones in the country that seamlessly integrate financial literacy and financial products into youth employment programs. Our nationally recognized FinCap programming brings together local financial institutions, city agencies and youth employment programs to provide participants with savings and credit building education, connections to youth-friendly savings and checking accounts, safe financial products, and financial coaching.
What are the organization's capabilities for doing this?
MyPath’s use of technology positions our organization as a leader in the youth financial capability field. We successfully developed high-tech financial capability platforms to digitize our savings and credit modules, currently utilized by thousands of youth and dozens of workforce development partners across the nation. Our team is experienced in designing and implementing user-centered technology, from completing build-outs to generating learnings to improve our systems.
What have they accomplished so far and what's next?
MyPath delivers financial capability education and paves savings and credit-building opportunities for over 3,000 working youth and young adults from low-income communities annually. We’ve expanded our capacity to serve more young people through partnerships with 11 financial institutions and over 50 youth employment programs across 13 cities in 7 states.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
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Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We take steps to ensure people feel comfortable being honest with us, We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback
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What challenges does the organization face when collecting feedback?
The people we serve tell us they find data collection burdensome, It is difficult to find the ongoing funding to support feedback collection
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2023 info
4.76
Months of cash in 2023 info
4.8
Fringe rate in 2023 info
14%
Funding sources info
Assets & liabilities info
Financial data
MyPath
Balance sheetFiscal Year: Jul 01 - Jun 30
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jul 01 - Jun 30
This snapshot of MyPath’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
Created in partnership with
Business model indicators
| Profitability info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | $89,277 | $73,911 | $54,853 | $119,297 | $124,716 |
| As % of expenses | 3.6% | 3.0% | 2.3% | 4.6% | 4.0% |
| Unrestricted surplus (deficit) after depreciation | $63,640 | $58,489 | $49,877 | $115,602 | $121,021 |
| As % of expenses | 2.5% | 2.3% | 2.0% | 4.4% | 3.9% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $1,945,226 | $3,710,498 | $1,805,006 | $2,900,537 | $2,116,898 |
| Total revenue, % change over prior year | -25.1% | 90.7% | -51.4% | 60.7% | -27.0% |
| Program services revenue | 0.2% | 0.7% | 2.5% | 0.0% | 0.3% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 1.2% | 0.5% | 0.3% | 0.1% | 1.1% |
| Government grants | 15.9% | 17.5% | 29.9% | 38.0% | 58.5% |
| All other grants and contributions | 82.5% | 81.4% | 67.0% | 61.8% | 40.2% |
| Other revenue | 0.1% | 0.0% | 0.3% | 0.0% | 0.0% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $2,483,112 | $2,491,860 | $2,431,349 | $2,596,080 | $3,120,515 |
| Total expenses, % change over prior year | 33.0% | 0.4% | -2.4% | 6.8% | 20.2% |
| Personnel | 63.3% | 74.4% | 79.2% | 74.7% | 70.9% |
| Professional fees | 19.9% | 11.2% | 11.0% | 16.9% | 20.4% |
| Occupancy | 3.2% | 5.7% | 2.7% | 0.2% | 1.0% |
| Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Pass-through | 1.2% | 1.3% | 1.3% | 1.3% | 1.4% |
| All other expenses | 12.3% | 7.4% | 5.9% | 6.8% | 6.2% |
| Full cost components (estimated) info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $2,508,749 | $2,507,282 | $2,436,325 | $2,599,775 | $3,124,210 |
| One month of savings | $206,926 | $207,655 | $202,612 | $216,340 | $260,043 |
| Debt principal payment | $0 | $0 | $0 | $0 | $0 |
| Fixed asset additions | $0 | $0 | $0 | $0 | $0 |
| Total full costs (estimated) | $2,715,675 | $2,714,937 | $2,638,937 | $2,816,115 | $3,384,253 |
Capital structure indicators
| Liquidity info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Months of cash | 4.4 | 13.3 | 11.8 | 10.9 | 4.8 |
| Months of cash and investments | 4.4 | 13.3 | 11.8 | 10.9 | 4.8 |
| Months of estimated liquid unrestricted net assets | 2.3 | 2.7 | 3.0 | 3.4 | 3.3 |
| Balance sheet composition info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Cash | $918,425 | $2,771,085 | $2,384,616 | $2,368,425 | $1,244,350 |
| Investments | $0 | $0 | $0 | $0 | $0 |
| Receivables | $627,493 | $297,662 | $71,361 | $163,776 | $132,642 |
| Gross land, buildings, equipment (LBE) | $132,660 | $132,660 | $28,890 | $28,890 | $18,477 |
| Accumulated depreciation (as a % of LBE) | 73.0% | 84.7% | 64.8% | 77.6% | 85.0% |
| Liabilities (as a % of assets) | 11.1% | 14.6% | 18.4% | 9.1% | 17.8% |
| Unrestricted net assets | $513,351 | $571,840 | $621,717 | $737,319 | $858,340 |
| Temporarily restricted net assets | $957,888 | N/A | N/A | N/A | N/A |
| Permanently restricted net assets | $0 | N/A | N/A | N/A | N/A |
| Total restricted net assets | $957,888 | $2,102,615 | $1,421,419 | $1,606,579 | $478,246 |
| Total net assets | $1,471,239 | $2,674,455 | $2,043,136 | $2,343,898 | $1,336,586 |
Key data checks
| Key data checks info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Founder and Chief Executive Officer
Ms. Margaret Libby
Margaret Libby joined MyPath (formerly Mission SF Community Financial Center) as its founding Executive Director in 2007, transforming it into a nationally-recognized organization that creates, tests and scales models to promote economic mobility among low-income youth and young adults. Under her leadership, MyPath has launched innovative fincap initiatives including MyPath Savings and MyPath NEXT. MyPath's models have delivered significant outcomes for 30,000+ participants and attracted numerous awards and recognition for their impact and innovation.
Prior to MyPath, Margaret led a statewide youth-led research and evaluation project at Youth Leadership Institute and engaged in advocacy related to inequities in the subprime mortgage market at CA Reinvestment Coalition. She has co-written numerous publications on youth financial capability, youth leadership development & evaluation, and predatory lending. She holds a BA from Brown University and a MSW from U.C. Berkeley.
Number of employees
Source: IRS Form 990
MyPath
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
MyPath
Board of directorsas of 12/23/2022
Board of directors data
Mr. Leslie Chard
Michelle Jun
Rohit Gera
Kimberly Johnson
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 08/12/2019GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We ask team members to identify racial disparities in their programs and / or portfolios.
- We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
- We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
- We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
- We use a vetting process to identify vendors and partners that share our commitment to race equity.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.
Contractors
Fiscal year endingProfessional fundraisers
Fiscal year endingSOURCE: IRS Form 990 Schedule G
Solicitation activities
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