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1. NONPROFIT INVESTOR
INDEPENDENT RESEARCH FOR PHILANTHROPY
Juma Ventures SUMMARY
Juma Ventures (“Juma”) is a leading youth development and
Nonprofit Investor Rating: employment organization based in San Francisco, California. In
NEUTRAL addition to employment support, Juma offers an asset building and
financial literacy program and a college services program. Juma has
served over 2,500 teens who have earned in excess of $1.6 million in
Mission Statement
wages to fund their college educations.
Juma helps break the cycle of poverty by
ensuring that young people complete a four- STRENGTHS
year college degree. ▲ The nation’s leading youth Individual Development Account
(“IDA”). Since pioneering the youth IDA in 1999, Juma has opened
Financial Overview over 900 accounts and distributed over $1mm in matched earnings
$ in MM, Fiscal Year Ended December 31
▲ Robust college access programs. Juma’s support assists students
2008 2009 2010 in the college preparation process and continues during the first two
Revenue and Support $3.8 $3.8 $4.0 years of post-secondary education.
Operating Expenses $3.7 $3.5 $4.0
▲ Well-recognized brand name and strong relationships with
corporate enterprises. Juma was the first US-based non-profit to be
% of Total:
Program Expenses 89.9% 86.1% 87.2% awarded a corporate business franchise. Today, Juma counts some
G&A 5.7% 6.9% 7.2% of the nation’s largest corporations and foundations as donors.
Fundraising 4.4% 6.9% 5.5%
CAUTIONS
▼ Revenue concentration. In 2010, Centerplate provided 70% of
Year Founded: 1993 Employment Projects revenue.
▼Heavy reliance on three donors. In 2010, 79% of contribution
Contact Details receivables were due from three donors.
Juma Ventures ▼Limited information regarding the beneficiaries served by Juma’s
131 Stuart Street, Suite 201 program. With more data, the effectiveness of Juma’s initiatives can
San Francisco, CA 94105
be more accurately evaluated. Juma spends 39% of its program
(415) 317-0727
service expenses on “College Services” but does not disclose the
http://www.jumaventures.org/ number of beneficiaries from that program, which makes it difficult
EIN: 94-3203203 to measure the magnitude of the impact.
Analyst: Katie Davis RECOMMENDATION: NEUTRAL
Peer Review: Ruth Yen, James Peng Juma is an innovative and award-winning youth development
program that combines employment in social enterprises, college
Publication Date
preparation and financial asset building. While Juma’s asset building,
June 25, 2012
financial literacy and employment initiatives have had measurable
results, NPI recommends that Juma increase its public disclosure of
information regarding beneficiaries in its college services program
(39% of expenses).
Nonprofit Investor Research | nonprofitinvestor.org

2. OVERVIEW OF JUMA VENTURES’ ACTIVITIES
Since its founding in 1993, Juma has grown from primarily offering job-training and placement into a comprehensive,
award-winning youth development program considered one of the premier social enterprise programs in the country.
Juma operates seven social enterprise programs in three cities, employing more than 160 youth annually. The
organization offers three core program components, coordinated through a case management framework. These
programs provide youth with access to a unique set of comprehensive services, enabling them to develop capacity for
success in school, employment, community and adulthood.
Students who apply to participate in Juma’s program must be in high school with the goal to obtain a degree from a
four-year college. In addition to completing a formal application on the organization’s website, Juma requires its
students to be fully engaged in all aspects of the program, including participation in 4-6 workshops per months for the
two years following acceptance to the program.
College Services
Juma provides youth exposure to and preparation for college, including hands-on support at every step of the college
selection and application process as well as comprehensive academic support to ensure that youth are college-ready.
Juma is unique in that this guidance continues during the first two years of college, rather than ceasing upon college
admission and enrollment. These support activities include the following:
 Campus and workplace tours  Career coaching
 An education plan  SAT prep
 Academic tutoring  Assistance in completing college
and financial aid applications
As students transition to college and throughout their first two years of enrollment, they receive direct support and
coaching from Juma staff through a 1:1 case management program that covers navigating campus financial aid systems,
budgeting for college expenses, academic advising and referrals to additional campus and community support services.
Additionally, Juma students can utilize their IDA savings and Juma’s matching funds to help cover their college expenses.
Students who excel also receive direct scholarship support from generous donors.
Asset Building and Financial Literacy
Financial literacy and asset-building services provide youth the opportunity to develop lifelong savings habits and money
management skills and to accumulate additional assets. Juma offers a comprehensive series of presentations and
workshops that teach specific skills including budgeting, handling debt and credit responsibilities and evaluating banking
services and options.
INDIVIDUAL DEVELOPMENT ACCOUNTS
Juma pioneered the concept of the IDA for youth and currently operates one of the largest and most successful youth
IDA programs in the country. The IDA program enables Juma youth to establish savings accounts, begin to save money
from paychecks, obtain money management education and receive matching funds to accelerate their savings toward
college-related expenses. The IDAs provide a 2:1 match for every dollar saved, thereby allowing youth to set and meet
targeted financial goals and accrue resources for their college expenses. Money saved and matched in a Juma IDA can
be used only for college-related expenses and is usually issued directly to the college. Since the IDA program was
Juma Ventures | Nonprofit Investor Research 2

3. established in 1999, Juma youth have saved more than $783,000 in their IDAs and earned nearly $960,000 in matching
funds.
STATEWIDE AND NATIONAL INITIATIVES
Between 2004 and 2007, Juma was one of twelve organizations selected for a national demonstration project to test the
success of savings accounts programs for children of all ages in urban, suburban and rural settings. Juma served 75
youth between the ages of 14 and 18 with IDAs through the SEED policy and practice initiative. The resulting research
established a strong evidence base for the social and economic impact of matched savings programs for children and
youth.
In 2006, Juma launched its Gain Resources, Opportunity and Wealth (“GROW”) Statewide IDA Initiative, which extends
access to asset building programs to low-income youth across California. Supported at the time by Merrill Lynch, the
Walter and Elise Haas Fund and the Levi Strauss Foundation, the GROW program had reached more than 180 youth in
the San Francisco Bay Area, San Diego and Los Angeles. Juma provides GROW partners with financial education
curriculum, 50% of the initial match funds and ongoing training and technical assistance around IDA services delivery.
Through the centralization of account data and administrative processes, Juma and GROW partners have achieved an
economy of scale that extends asset-building opportunities to youth across the California.
Employment
In 1993, Juma became the first non-profit organization in the US to be awarded a corporate business franchise through
its partnership with Ben & Jerry’s. Since then, Juma has been rooted in social enterprise, and now employs over 160
youth annually in its seven social enterprise operation locations across California. These youth are employed primarily
in cart, vending and storefront operations at the following locations:
 AT&T in San Francisco  Cal Memorial Stadium in
Berkeley
 Candlestick Parks in San
Francisco  Qualcomm Stadium in
San Diego
 Oracle Arena in Oakland
 PETCO Park in San Diego
 Oakland-Alameda County
Coliseum in Oakland
PROGRAM RESULTS AND EFFECTIVENESS
With 900 IDAs open and over $1 million in youth match earnings, Juma is one of the largest youth IDA programs in the
country. Since Juma pioneered the IDA program for youth in 1993, Juma has served over 2,800 youth and generated
more than $17 million in earned income to leverage donor investments for maximum impact. For the past three years,
95% of youth at Juma’s flagship San Francisco program have graduated high school, and over 85% of these students
have gone on to higher education, equipped with skills for success in college, the workplace and adulthood.
Approximately 97% of Juma youth are still working and/or enrolled in academic or vocational training two years after
completing Juma’s program. In 2010, Juma offered $130,596 in college scholarships to youth.
As illustrated in the breakdown of Juma’s 2010 program service expenses, Job Skills Training and Part-Time Employment
constituted 43% of 2010 program service expenses, which served 237 young people in San Francisco, Oakland and San
Diego. College Services made up 39% of program service expenses. Although the College Services program has
demonstrated high graduation and post-secondary school attendance percentages, the organization would be better
served if it was able to provide information behind the number of beneficiaries served.
Juma Ventures | Nonprofit Investor Research 3

4. 2010 Program Service Expenses
5%
13%
43%
39%
Job Skills Training and Part-Time Employment College Services
Financial Literacy & Asset Building Other Program Services
In 2011, Juma employed 270 young people in San Francisco, Oakland and San Diego, with over 90% transitioning to
college (compared to the prevailing rate for low-income high school graduates of 52%).
Juma has received numerous awards for its work, including the National Youth Employment Coalition’s PEPNet Award
and a Community Achievement Award as the national organization of the year from the Social Enterprise Alliance.
Other honors that the organization has received include:
 Bank of America’s Neighborhood Builders Award (one of the two non-profits selected for this $200,000 award in
San Francisco)
 Citibank’s Nonprofit Appreciation Award
 Marriot Foundation’s Small Business Award
 San Francisco School-to-Career Partnership’s Bridge to the Future award
 State Model of Excellence Award by the Office of Advocacy for US Small Business Administration
TRANSPARENCY
Charity Navigator (“CN”) indicates that Juma operates with a strong commitment to accountability and transparency.
Juma provides audited financial statements for the prior three years on its website, and files Form 990 with the IRS
annually. The organization’s complete Form 990 can be mailed to individuals upon request. Juma can improve its level
of transparency by provide more detailed information to the public regarding beneficiaries and partners. With this
information, the public can more holistically evaluate the impact that Juma’s programs have had on California’s youth.
Juma Ventures | Nonprofit Investor Research 4

5. FINANCIAL OVERVIEW
REVENUE
The majority of Juma’s revenue comes from government grants
and contributions, and the organization’s revenue mix has been
$ in ‘000
fairly consistent over the past three years. Juma has strong
relationships with its key contributors. In 2010, the most
significant contributions came from the Cypress Fund, San
Francisco DCYF, John L. Mulvaney Foundation, Assets for
Independence, Gap Foundation, Y&H Soda Foundation and J.P.
Morgan Chase Foundation.
As of December 31, 2010, according to the organization’s
Financial Statements, approximately 79% of contribution
receivables were due from three donors, reflecting Juma’s
revenue concentration. For the year ended December 31, 2010,
Centerplate provided approximately 70% of the Employment Projects Revenue through exclusive contracts 1 .
Centerplate is Juma’s largest enterprise partner, operating at AT&T Park in San Francisco and Qualcomm Stadium in San
Diego.
EXPENSES
In the past three years, Juma’s expenditures on $ in ‘000
implementation and execution of the organization’s programs
averaged 88% of total expenses. In 2010 the organization
increased its financial assistance expenditures 17%, reflecting its
growing focus on committing more resources to college access
efforts. This increase in 2010 was due to a new, five-year
contract with the US Department of Health and Human Services’
Assets for Independence Program, which helps participants save
earned income in matched IDAs 2.
1
Juma Ventures Form 990 for the year ending December 31, 2010.
2
Information provided by Juma Ventures
Juma Ventures | Nonprofit Investor Research 5

6. Detailed Financial Information
2008 2009 2010
Select income statement accounts:
Support and revenue:
Grants and contributions 2,173,888 2,519,387 2,340,102
Employment projects, net 1,446,977 1,124,784 1,541,639
Investment income 39,242 37,791 10,061
Special event income, net 97,318 95,515 63,495
Miscellaneous income 88,247 41,402 32,120
___________ ___________ ___________
Total suport and revenue $3,845,672 $3,818,879 $3,987,417
% growth -0.7% 4.4%
Expenses:
Program services 3,313,104 3,017,875 3,475,858
Supporting serices:
Management and general ("M&G") 210,306 242,240 287,608
Fundraising 162,933 243,381 220,875
___________ ___________ ___________
Total expenses $3,686,343 $3,503,496 $3,984,341
Revenue less expenses $159,329 $315,383 $3,076
Program services costs as a % of total expenses 89.9% 86.1% 87.2%
M&G costs as a % of total expenses 5.7% 6.9% 7.2%
Fundraising costs as a % of total expenses 4.4% 6.9% 5.5%
Program services expense breakdown
Employee compensation 1,616,696 1,587,782 1,677,104
Cost of goods sold & concession fees 768,018 631,278 847,393
Rent 130,375 133,635 141,630
Consultants & professional services 75,326 113,098 129,546
Project costs 136,115 198,880 283,866
Financial assistance 126,453 126,061 148,607
Other expense 460,121 227,141 247,712
___________ ___________ ___________
Total program services expenses $3,313,104 $3,017,875 $3,475,858
Supporting services expense breakdown
Employee compensation 263,112 339,470 359,949
Rent 32,069 28,933 35,551
Consultants & professional services 18,113 26,332 51,948
Other expense 59,945 90,885 61,035
___________ ___________ ___________
Total supporting services expense breakdown $373,239 $485,621 $508,483
Total expenses $3,686,343 $3,503,496 $3,984,341
Select balance sheet accounts:
Cash $1,665,543 $2,277,359 $2,413,854
Grants and contributions receivable 265,366 351,533 427,877
Accounts receivable - - 18,787
Investments 677,984 334,960 306,963
Net PP&E 107,292 127,811 122,102
Note: Prior to 2009, Accounts Receivable are aggregated into "Contributions and accounts receivable"
Source: Audited 2008, 2009 and 2010 Financial Statements
Juma Ventures | Nonprofit Investor Research 6

7. CONTRIBUTIONS AND PARTNERSHIPS
In 2010, the Company received $2.4 million in contributions from corporations and individuals across America. The
following table illustrates some of the organization’s largest contributors in 2010 and their respective contributions.
Contributor Amount
Cypress Fund $766,961
San Francisco DCYF $291.151
John L. Mulvaney Foundation $150,000
Assets for Independence $142,369
Gap Foundation $119,000
Y&H Soda Foundation $80,000
J.P. Morgan Chase Foundation $75,000
Some of the nation’s most prominent, well-renowned and respected foundations, corporations and government
agencies have become supporters of Juma Ventures. For example, from January 2011 to December 2011 Juma received
donations exceeding $100,000 from the following partners:
 BlackRock  Citigroup Foundation  College Access Foundation of California
 E*Trade Foundation  Gap Foundation  JP Morgan Chase
 Kimball Foundation  Levi Strauss Foundation  Mulvaney Foundation
 Max & Stanley Smith Charitable Trust  TK Foundation  Gary & Mary West Foundation
THIRD PARTY RATINGS
Charity Navigator rates the organization four out of four stars. CN indicates that in 2010 Mark Spencer, the
organization’s CEO, received $115,115 in compensation, representing 3.76% of expenses. CN gives the organization an
overall score of 67.32, which exceeds the overall scores assigned to similar organizations (Jobs for the future – 59.84;
Women Employed – 58.60; Dress for Success – 64.27; Washington Women’s Employment & Education – 63.67).
GET INVOLVED
Corporations have a variety of opportunities to support Juma in its efforts to mitigate poverty and empower youth to
pursue the goal of post-secondary education. For example, during spring day baseball games, while Juma’s students are
still in school, local companies can send volunteer teams to fill in for Juma’s youth as vendors at the ballpark. This is a
unique team-building experience that contributes to Juma’s success in a fun and relatable way. Local companies can
also envision and organize other community-based team-building activities to share with Juma youth.
In addition to the hiring positions that Juma describes on its website, individuals can pursue a wide range of volunteer
positions including, but not limited to, career or college application coaches for Juma youth. Individuals in these
positions assist with resume and cover letter writing, interview preparation, college research, applications, scholarships
and financial aid. Also, individuals can volunteer as workplace tour leaders, hosting small groups of interested Juma
students and providing an overview of the company’s services and products, departments, career opportunities and
related education paths.
Individuals and corporations seeking to donate to Juma can also do so in a variety of ways. Individuals donating over
$1000 in one year become members of Juma’s Graduate Circle, with the ability to participate in fundraisers and the
organization’s annual Friends of Juma dinner. Also, Juma has arranged for search engines to donate percentages of
revenue to Juma, including GoodShop.com (donates 30% of every purchase) and GoodSearch (a Yahoo-powered search
engine that donates 50% of revenue). Further details regarding individuals’ ability to donate to Juma can be found at
Juma Ventures | Nonprofit Investor Research 7

8. jumaventures.org/donors/ways-to-support/. Corporations seeking to donate and support Juma have a number of
options available. Companies can make grants, sponsor Juma’s annual Field of Dreams fundraising event and offer
career tours and internships for Juma youth.
DISCLOSURES
Katie Davis certifies that she does not have any affiliation with Juma Ventures and has never made a donation to the
organization. Additionally, Katie has not supported directly competing organizations in a greater capacity than a nominal
donation. NPI analysts and NPI as an organization do not receive any form of compensation from reviewed charities.
This report is for informational purposes only and does not constitute a solicitation for donations. While the reliability of
information contained in this report has been assessed by NPI, NPI makes no representation as to its accuracy or
completeness, except with respect to the Disclosure Section of the report. Any opinions expressed herein reflect our
judgment as of the date of the materials and are subject to change without notice. NPI has no obligation to update,
modify or amend any report or to otherwise notify a reader thereof in the event that any matter stated herein, or any
opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate, or if research on
the subject organization is withdrawn.
Opinions and recommendations in our reports do not take into account specific reader circumstances, objectives, or
needs. The recipients of our reports must make their own independent decisions regarding any organization mentioned
by NPI.
Juma Ventures | Nonprofit Investor Research 8