Bay Area Hybrid College Initiative DBA Rivet School

EIN: 823461657 501(c)(3) Education

Richmond, CA

Total Revenue
$4,299,770
Total Expenses
$4,402,590
Total Assets
$5,693,218
Net Assets
$4,761,660
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
CA
Principal Officer
Jeff Manassero
Phone
5107275484
Tax Period
2024-01-01 to 2024-12-31

Bay Area Hybrid College Initiative DBA Rivet School, founded in 2017, is a community nonprofit in the Education sector that reported $4.3M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year.

Mission

Rivet School's mission is to build and scale a new model of higher education that reliably enables traditionally underserved students to earn an affordable bachelor's degree in as little as two years, leading to a great first job and increased opportunity over time.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,955,978
Program Service Revenue $1,182,976
Investment Income $159,656
Other Revenue $1,160
TOTAL REVENUE $4,299,770

Expense Breakdown

Grants Paid $366,272
Salaries & Benefits $3,181,049
Fundraising Expenses $208,030
Program Expenses $3,428,880
Other Expenses $769,397
TOTAL EXPENSES $4,402,590

Year-over-Year Comparison

2024 2023 Change
Revenue $4,299,770 $4,866,308 -0.1%
Expenses $4,402,590 $3,187,817 +0.4%
Net Income $-102,820 $1,678,491 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
6
Employees
41
Volunteers
6

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$386,902
Total Directors
6
$36
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jeff Manassero Executive Dir. 40.00
Officer
$191,027 $13,348 $204,375
Iris Jong COO 40.00
Officer
$160,612 $21,879 $182,491
Sandra Nunez Chief Program Officer 40.00
$102,654 $933 $103,587
Nora Maxwell Chief Growth Officer 40.00
$90,846 $4,868 $95,714
Ted Williams Chairman 1.00
Officer Director
$0 $36 $36
Lauren Dutton Dir Secretary 1.00
Officer Director
$0 $0 $0
John Philip Coghlan Dir Treasurer 1.00
Officer Director
$0 $0 $0
Jaclyn Pinero Director 1.00
Director
$0 $0 $0
Yin Lu Director 1.00
Director
$0 $0 $0
Adanta Ahanonu Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $4,299,770 $4,402,590 $5,693,218 $-102,820
2023 $4,866,308 $3,187,817 $5,863,880 $1,678,491
2022 $4,245,051 $2,319,504 $4,144,876 $1,925,547
2021 $2,175,624 $1,839,422 $1,792,780 $336,202
2021 $1,325,624 $1,813,662 $1,792,780 $-488,038
2020 $1,373,763 $1,202,935 $1,378,233 $170,828
2019 $1,156,797 $861,018 $1,207,405 $295,779
2018 $1,290,105 $416,281 $911,626 $873,824
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