Mission: Year Up is a national 501(c)3 nonprofit organization founded to offer all young adults-no matter their background, income, or zip code-access to economic opportunity ... (More)

Year Up is a 501(c)(3) organization, with an IRS ruling year of 2001, and donations are tax-deductible.

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Contact Information

  http://www.yearup.org

 45 Milk Street
9th Floor
Boston MA 02109 

  855-932-7871


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Star Rating System by Charity Navigator


Charity Navigator evaluates a nonprofit organization’s financial health including measures of stability, efficiency and sustainability. We also track accountability and transparency policies to ensure the good governance and integrity of the organization.




Exceptional

This charity's score is 94.30, earning it a 4-Star rating. Donors can "Give with Confidence" to this charity. 

This score is calculated from two sub-scores:

This score represents Form 990 data from 2020, the latest year published by the IRS.

View this organization’s historical ratings.


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Star Rated Report

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Program Expense

Program Expense Ratio

83.1%


The Program Expense Ratio is determined by Program Expenses divided by Total Expense (average of most recent three 990s).


This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver. Dividing a charity's average program expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Administrative Expenses

10.7%


As reported by charities on their IRS Form 990, this measure reflects what percent of its total budget a charity spends on overhead, administrative staff and associated costs, and organizational meetings. Dividing a charity's average administrative expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Fundraising Expenses

6.1%


This measure reflects what a charity spends to raise money. Fundraising expenses can include campaign printing, publicity, mailing, and staffing and costs incurred in soliciting donations, memberships, and grants. Dividing a charity's average fundraising expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Liabilities to Assets Ratio

16.4%


The Liabilities to Assets Ratio is determined by Total Liabilities divided by Total Assets (most recent 990).


Part of our goal in rating the financial performance of charities is to help donors assess the financial capacity and sustainability of a charity. As do organizations in other sectors, charities must be mindful of their management of total liabilites in relation to their total assets. This ratio is an indicator of an organization’s solvency and or long term sustainability. Dividing a charity's total liabilities by its total assets yields this percentage.


Source: IRS Form 990

Fundraising Efficiency

$0.11


The amount spent to raise $1 in charitable contributions. To calculate a charity's fundraising efficiency, we divide its average fundraising expenses by the average total contributions it receives. We calculate the charity's average expenses and average contributions over its three most recent fiscal years.


Source: IRS Form 990

Working Capital Ratio

0.69 years


Determines how long a charity could sustain its level of spending using its net available assets, or working capital, as reported on its most recently filed Form 990. We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. Dividing these net available assets in the most recent year by a charity's average total expenses, yields the working capital ratio. We calculate the charity's average total expenses over its three most recent fiscal years.


Source: IRS Form 990

Program Expense Growth

11.74%


We compute the average annual growth of program expenses using the following formula: [(Yn/Y0)(1/n)]-1, where Y0 is a charity's program expenses in the first year of the interval analyzed, Yn is the charity's program expenses in the most recent year, and n is the interval of years passed between Y0 and Yn.


Source: IRS Form 990

Governance


Charity Navigator looks to confirm on the Form 990 that the organization has these governance practices in place.


Sources Include: IRS Form 990

Governance:
Independent Voting Board Members  ... (More)
No Material Diversion of Assets ... (More)

A diversion of assets – any unauthorized conversion or use of the organization's assets other than for the organization's authorized purposes, including but not limited to embezzlement or theft – can seriously call into question a charity's financial integrity. We check the charity's last two Forms 990 to see if the charity has reported any diversion of assets. If the charity does report a diversion, then we check to see if it complied with the Form 990 instructions by describing what happened and its corrective action. This metric will be assigned to one of the following categories:

  • Full Credit: There has been no diversion of assets within the last two years.

  • Partial Credit: There has been a diversion of assets within the last two years and the charity has used Schedule O on the Form 990 to explain: the nature of the diversion, the amount of money or property involved and the corrective action taken to address the matter. In this situation, we deduct 7 points from the charity's Accountability and Transparency score.
  • No Credit: There has been a diversion of assets within the last two years and the charity's explanation on Schedule O is either non-existent or not sufficient. In this case, we deduct 15 points from the charity's Accountability and Transparency score.
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Audited Financials Prepared by Independent Accountant ... (More)

Audited financial statements provide important information about financial accountability and accuracy. They should be prepared by an independent accountant with oversight from an audit committee. (It is not necessary that the audit committee be a separate committee. Often at smaller charities, it falls within the responsibilities of the finance committee or the executive committee.) The committee provides an important oversight layer between the management of the organization, which is responsible for the financial information reported, and the independent accountant, who reviews the financials and issues an opinion based on its findings. We check the charity's Form 990 reporting to see if it meets this criteria.

  • Full Credit: The charity's audited financials were prepared by an independent accountant with an audit oversight committee.

  • Partial Credit: The charity's audited financials were prepared by an independent accountant, but it did not have an audit oversight committee. In this case, we deduct 7 points from the charity's Accountability and Transparency score.
  • No Credit: The charity did not have its audited financials prepared by an independent accountant. In this case, we deduct 15 points from the charity's Accountability and Transparency score.
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Does Not Provide Loan(s) to or Receive Loan(s) From Related Parties ... (More)
Documents Board Meeting Minutes ... (More)
Distributes 990 to Board Before Filing ... (More)
Compensates Board ... (More)

Policies


Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization has these policies in place.


Sources Include: IRS Form 990 and organization's website

Policies:
Conflict of Interest  ... (More)
Whistleblower ... (More)
Records Retention and Destruction ... (More)
CEO Compensation Process ... (More)
Donor Privacy ... (More)

Donors have expressed extreme concern about the use of their personal information by charities and the desire to have this information kept confidential. The exchanging and sale of lists for telemarketing and the mass distribution of "junk mail," among other things, can be minimized if the charity assures the privacy of its donors. Privacy policies are assigned to one of the following categories:

  • Yes: This charity has a written donor privacy policy published on its website, which states unambiguously that (1) it will not share or sell a donor's personal information with anyone else, nor send donor mailings on behalf of other organizations or (2) it will only share or sell personal information once the donor has given the charity specific permission to do so.

  • Opt-out: The charity has a written privacy policy published on its website which enables donors to tell the charity to remove their names and contact information from lists the charity shares or sells. How a donor can have themselves removed from a list differs from one charity to the next, but any and all opt-out policies require donors to take specific action to protect their privacy.
  • No: This charity either does not have a written donor privacy policy in place to protect their contributors' personal information, or the existing policy does not meet our criteria.

The privacy policy must be specific to donor information. A general website policy which references "visitor" or "user" personal information will not suffice. A policy that refers to donor information collected on the website is also not sufficient as the policy must be comprehensive and applicable to both online and offline donors. The existence of a privacy policy of any type does not prohibit the charity itself from contacting the donor for informational, educational, or solicitation purposes.

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Transparency


Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization makes this information easily accessible.


Sources Include: IRS Form 990 and organization's website

Transparency:
CEO Salary Listed on 990 ... (More)
Board of Directors Listed on Website ... (More)
Key Staff Listed on Website ... (More)
Audited Financial Statements on Website ... (More)
Form 990 Available on Website ... (More)

Additional Information

Unscored

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Total Revenue and Expenses

Total Revenue and Expenses

This chart displays the trend of revenue and expenses over the past several years for this organization, as reported on their IRS Form 990.

Salary of Key Persons

Presented here are this organizations key compensated staff members as identified by our analysts. This compensation data includes salary, cash bonuses and expense accounts and is displayed exactly how it is reported to the IRS. The amounts do not include nontaxable benefits, deferred compensation, or other amounts not reported on Form W-2. In some cases, these amounts may include compensation from related organizations. Read the IRS policies for compensation reporting



Gerald Chertavian, Chief Executive Officer

$422,018 (0.27% of Total Expenses)


Current CEO and Board Chair can be found in the Leadership & Adaptability report below.

Source: IRS Form 990 (page 7), filing year 2020

Business Master File Data

Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Learn more about the BMF on the IRS website


Activities:

Activity data not reported from the IRS


Foundation Status:

School 170(b)(1)(A)(ii) (BMF foundation code: 11)


Affiliation:

Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). (BMF affiliation code: 3)

Data Sources: IRS Forms 990

The Form 990 is a document that nonprofit organizations file with the IRS annually. We leverage finance and accountability data from it to form Encompass ratings. Click here to view this organization's Forms 990 on the IRS website (if any are available).

Pandemic Response

Due to the unprecedented nature of the pandemic, we give charities such as this one the opportunity to share the story of COVID's impact on them. Charities may submit their own pandemic responses through their nonprofit portal.


Year Up reported being impacted by COVID-19 in the following ways:
  • Program Delivery

  • Revenue

  • Staffing

  • Balance Sheet


How COVID-19 impacted the organization's operations financially:

Pivoting to virtual operations required significant investments in technology, resources, and support funds. A few examples: 1)Ordered & shipped hundreds of laptops, Chromebooks, MiFi hotspots, and headsets to interns and students so they could participate in virtual program and internships. 2)Invested in two new virtual collaboration tools, Zoom and Slack, as well as trainings for their use by the entire Year Up community. 3)Ensured that students and interns had uninterrupted access to their stipend and any required financial support by setting up direct deposit and providing re-loadable debit cards.


How COVID-19 impacted the organization's delivery of programs:

In mid-March 2020, Year Up very quickly transitioned to entirely virtual operations. Within one week, ~1,000 staff were working remotely, and within two weeks, program delivery for 4,000+ students and interns nationwide had moved to entirely virtual. We developed/invested in additional technology, resources, and training. For example: 1)Launched a student-facing COVID-19 website with FAQs about the virus, supports, and how to engage in remote programs 2)Made centralized IT helpdesk support available to students and interns—not just staff (previously, student IT needs were addressed locally) 3)Built a new business intelligence tool to track job demand and support graduates in finding jobs in a quickly contracting economy 4)Developed guidelines for programmatic adjustments (e.g., how to adjust weekly schedules, how to coach in a virtual environment, how to balance synchronous and asynchronous instruction/facilitation)


How this organization adapted to changing conditions caused by COVID-19:

Year Up adapted to the chancing conditions by 1) accelerating implementation of planned improvements; 2) quick assessments of new, COVID-19 related needs; and 3) iterative learning along the way.


Innovations the organization intends to continue permanently after the pandemic:

Year Up continues to adjust program delivery based on staff and student experiences as well as needs surfacing through surveys and conversations with students. An early adjustment reduced the length of program sessions to address “Zoom fatigue.” We also made changes to account for the variety of obstacles that our students and staff are now facing (limited access to reliable technology, low internet bandwidth, family members in the home, kids home from school, caring for sick family, heightened mental health concerns, no personal space for working, etc.). We've found that Year Up young adults are able to learn, gain valuable work experiences, and secure quality jobs in an entirely remote environment. We're using these learnings to pilot more flexible, hybrid programs in order to be able to scale our support of young adults across the country.


Historical Ratings

Date PublishedForm 990 FYEOverall ScoreOverall Rating
Rating Version: 2.1
11/1/20212020 94.30
8/1/20202019 91.95
11/1/20192018 89.10
3/1/20192017 90.18
2/1/20182016 90.92
4/1/20172015 94.28
6/1/20162014 93.10
Rating Version: 2.0
12/22/20152014 94.18
6/1/20152013 96.83
12/1/20132012 95.25
6/1/20132011 99.08
3/1/20122010 94.25
9/20/20112009 94.18
Rating Version: 1.0
2/1/20112009 95.68
12/1/20092008 98.22
4/1/20092007 97.85
7/1/20082006 98.08
5/1/20072005 99.04

...   Impact & Results


This score estimates the actual impact a nonprofit has on the lives of those it serves, and determines whether it is making good use of donor resources to achieve that impact.


Impact & Results Score

Not Currently Scored

Year Up cannot currently be evaluated by our Encompass Rating Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on contributions from individual donors.

Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.

Learn more about Impact & Results.


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Additional Information

Unscored

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Largest Programs

Largest Programs



Year Up reported its largest program on its FY 2020 Form 990 as:


$128,431,898

Spent in most recent FY

100%

Percent of program expenses


SEE SCHEDULE O


...   Leadership & Adaptability


This score provides an assessment of the organization's leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes in constituent demand/need or other relevant social and economic conditions to achieve the organization's mission.


Leadership & Adaptability Score

100

out of 100

The score earned by Year Up is a passing score. This score has no effect on the organization's Star Rating.

Encompass Rating V4 provides an evaluation of the organization's Leadership & Adaptability through the nonprofit organization submitting a survey response directly to Charity Navigator.


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Leadership & Adaptability Report

100

of 100 points

Mission

The nonprofit organization presents evidence of strategic thinking through articulating the organization’s mission


Year Up's mission is to close the Opportunity Divide by ensuring that young adults gain the skills, experiences, and support that will empower them to reach their potential through careers and higher education.


Source: Nonprofit submitted responses

Vision

The nonprofit organization presents evidence of strategic thinking through articulating the organization’s vision.


Year Up is committed to ensuring equitable access to economic opportunity, education, and justice for all young adults—no matter their background, income, or zip code. Employers face a growing need for talent while millions are left disconnected from the economic mainstream. These inequities only further perpetuate the Opportunity Divide that exists in our country—a divide that Year Up is determined and positioned to close.


Source: Nonprofit submitted responses

Strategic Goals

The nonprofit organization presents evidence of strategic thinking and goal setting through sharing their most important strategic goals.


Goal One: Serve Students and Alumni through Year Up’s Best-in-Class Programs

Goal Type: Focus on core programs to achieve mission and scale back on programs not seen as core.


Goal Two: Scale through Innovative New Partnership Models

Goal Type: Grow, expand, scale or increase access to the existing programs and services.


Goal Three: Promote Equitable Talent Practices Among Employers

Goal Type: This goal reflects our commitment to further our advocacy work for our organization and or cause area.


Source: Nonprofit submitted responses

Leadership Development

The nonprofit provides evidence of investment in leadership development


Describe an investment in leadership

In addition to regular people manager trainings and professional development funds available to all staff, Year Up has partnered with McKinsey & Company to offer leadership development opportunities for Black and Latino staff at the Manager level and above.

Source: Nonprofit submitted responses

Mobilizing for Mission

The nonprofit provides evidence of leadership through focusing externally and mobilizing resources for the mission.


This organization mobilizes for mission in the following ways:
  • Strategic Partnerships

  • Networks of Collective Impact Efforts

  • Thought Leadership

  • Raising Awareness

  • Community Building

  • Policy Advocacy

What are this organization’s external mobilizaton efforts?

One way we mobilize our mission is through our strategic partnerships. At our new campus in Washington DC, we are co-locating with four other nonprofits. The Talent for Tomorrow Alliance partners (Year Up, Genesys Works, New Futures, Per Scholas, and Capital Partners for Education) are working together to close racial, income, and opportunity gaps and are contributing to the growth and success of the region through the development of a racially-diverse, skilled talent pipeline. The model is based upon the hypothesis that, through partnership, we can leverage the expertise of each organization to create a continuum of services that more fully supports the advancement of our shared population. Year Up is very active on social media and engages in a variety of public relations (press releases; media features including The New York Times, Forbes, CNN, NPR) and thought leadership (keynotes/panels, thought leadership pieces, research) initiatives to increase awareness of our mission.

Source: Nonprofit submitted responses

Story of Adaptability

The nonprofit has an opportunity to tell the story of how the organization adapted to tremendous external changes in the last year.


As the COVID-19 pandemic disproportionately impacted the communities that Year Up serves, we ensured that each of our more than 4,100 students was kept safe, supported, and given the tools to succeed. That meant transitioning to a virtual environment. Year Up kicked off this virtual switchover in March 2020, with our IT team working swiftly to ensure that students had access to Wi-Fi, functioning computers, and programs such as Zoom. While Year Up had experimented with online material and instruction in the past, the virtual transition yielded positive revelations: the experiences of 2020 hint that digital learning experiences create beneficial outcomes for Year Up students. The virtual environment also trained students to become adept in navigating online workplaces, from attending virtual meetings to managing remote assignments. Moving forward, Year Up will incorporate hybrid programs (merging in-person programming with digital) in some markets. We were not only challenged by COVID-19, but the country’s systemic inequalities and entrenched racism were laid bare. As many employers begin to seriously consider their roles as leaders in the fight for racial and economic justice, Year Up leveraged our strategic corporate relationships to champion change across industries and guide companies to embrace and operationalize policies and practices that elevate Opportunity Talent into meaningful careers. Through our direct service program and systems change work, including our involvement with OneTen, Year Up will continue to attack systemic prejudices at their roots by actively working to eliminate inequities and connecting Opportunity Talent to onramps for financial and career mobility.

Source: Nonprofit submitted responses

Additional Information

Unscored

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Organization Leadership

Organization Leadership


Gerald Chertavian

Chief Executive Officer

Paul Salem

Chairman

...   Culture & Community


This score provides an assessment of the organization's engagement with the constituents it serves, a practice we term Constituent Feedback. When organizations listen to constituents, they are able to better deliver on programs and meet the needs of stakeholders. A future version of this Beacon will also assess an organization's people operations and its Diversity, Equity and Inclusion (DEI) metrics.


Culture & Community Score

100

out of 100

The score earned by Year Up is a passing score. This score has no effect on the organization's Star Rating.

Encompass Rating V4 provides an evaluation of an organization's Culture and Community by measuring its Constituent Feedback practices (see report below). Constituent Feedback data provides 100% of the basis for the initial evaluation of the Culture & Community Beacon.


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Culture & Community Report

100

of 100 points

This beta feature is currently viewable only on desktop or tablet screens. Check back later for updates.

Constituent Feedback

Constituent Feedback

Full Credit


This organization reported that it is collecting feedback.


Here's how this organization is listening and learning from the people they serve:


How is your organization collecting feedback from the people you serve?

SMS text surveys, Electronic surveys (by email, tablet, etc.), Focus groups or interviews (by phone or in person), Case management notes, Community meetings or town halls, Constituent (client or resident, etc.) advisory committees


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 make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve


With whom does your organization share the feedback you got from the people you serve?

The people we serve, Our staff, Our board, Our funders, Our community partners


What challenges does your organization face in collecting feedback from the people you serve?

The people we serve tell us they find data collection burdensome, Staff find it hard to prioritize feedback collection and review due to lack of time


Briefly describe a recent change that your organization made in response to feedback from the people you serve.

Recently, Year Up adjusted the stipend structure after discovering that the current structure was not effective in addressing the young adults' financial needs and often left the students with the greatest needs with little to no support. The change was to optimize the budget for stipend and non-stipend funds by reallocating a significant portion of stipend funds into non-stipend hardship funds (transportation support, clothing, etc.), which helped local markets tailor the funds on a student-need basis. In addition, many participants voiced that they were unaware of the wide variety of supports available to them. As a result, Year Up standardized practices for tracking and allocation of budgets so that it was clear what support was available.



Methodology


Charity Navigator believes nonprofit organizations that engage in inclusive practices, such as collecting feedback from the people and communities they serve, may be more effective. We've partnered with GuideStar by Candid to survey organizations about their feedback practices. Nonprofit organizations can fill out the How We Listen section of their Candid profile to receive a rating.


Charity Navigator awards full credit for this Beacon to every nonprofit that is eligible for an Encompass Rating that completes the survey, in recognition of their willingness to publicly share this information with the nonprofit and philanthropic communities. This data is not evaluated for quality at this time. Validation will be added in future iterations of this Beacon.

Analysis and Research


Like the overall Encompass Rating System, the Culture & Community Beacon is designed to evolve as metrics are developed and ready for integration. Our partnership with Feedback Labs and Guidestar by Candid, and other partners including Fund for Shared Insight, GlobalGiving, and Keystone Accountability, enables us to launch the first version of this beacon with Constituent Feedback information collected on Candid's site.


Feedback practices have been shown to support better Diversity, Equity, and Inclusion outcomes, an essential area of assessment that we intend to further expand and develop in the future. Feedback Labs has documented several studies which indicate that beyond achieving organizational goals, nonprofits that are attentive and responsive to concerns and ideas raised by beneficiaries establish stronger relationships with the people they serve, promote greater equity, and empower constituents in ways that can help to ensure better long-term outcomes. You can find resources to help nonprofits improve their feedback practices here.

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