Oakland Promise

Organization Overview

Oakland Promise is located in Oakland, CA. The organization was established in 2003. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Oakland Promise employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oakland Promise is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Oakland Promise generated $17.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.5% each year . All expenses for the organization totaled $10.0m during the year ending 06/2022. While expenses have increased by 26.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

EDUCATIONAL FINANCIAL ASSISTANCE

Describe the Organization's Program Activity:

Part 3 - Line 4a

OAKLAND PROMISE ("OP") IS AVAILABLE TO YOUNG LEARNERS (FROM NEWBORNS TO COLLEGE STUDENTS) AND THEIR FAMILIES WHO RESIDE IN OAKLAND. OP OFFERS EVERY CHILD THE FINANCIAL RESOURCES, SUPPORT, MENTORSHIP AND INCENTIVES THEY NEED FROM BIRTH AND THROUGHOUT THEIR SCHOOL YEARS TO EMPOWER THEM TO SEEK OUT AND THRIVE IN THE HIGHER EDUCATION AND CAREER OF THEIR CHOOSING. OP PROVIDES SERVICES THROUGH FOUR CORE CRADLE-TO-COLLEGE AND CAREER PROGRAMS AT EACH STAGE OF A YOUNG PERSON'S DEVELOPMENT FROM AGES 0 TO 25: BRILLIANT BABY, KINDERGARTEN TO COLLEGE, COLLEGE ACCESS AND COLLEGE COMPLETION. THROUGH THESE PROGRAMS, OP OFFERS COLLEGE SAVINGS ACCOUNTS (529S), COLLEGE SCHOLARSHIP FUNDING IN ELEMENTARY SCHOOL YEARS, 2-4 YEAR COLLEGE/CTE SCHOLARSHIPS, FINANCIAL GUIDANCE FOR PARENTS AND STUDENTS, COLLEGE BUILDING CULTURE PROGRAMS AND CRITICAL RESOURCES TO EMPOWER STUDENTS TO DEVELOP THEIR COLLEGE AND VOCATIONAL BOUND IDENTITY AND PERSISTENCE.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$307,850
Related organizations$0
Government grants $2,065,993
All other contributions, gifts, grants, and similar amounts not included above$14,543,914
Noncash contributions included in lines 1a–1f $62,500
Total Revenue from Contributions, Gifts, Grants & Similar$16,917,757
Total Program Service Revenue$0
Investment income $98,376
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $252,688
Net Income from Fundraising Events -$184,608
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $17,084,213

Grants Recieved

Over the last fiscal year, we have identified 18 grants that Oakland Promise has recieved totaling $2,617,251.

Awarding OrganizationAmount
Schwab Charitable Fund

San Francisco, CA

PURPOSE: EDUCATION

$568,150
Siriwan Singhasiri And Kenneth Lin Foundation

Palo Alto, CA

PURPOSE: GENERAL SUPPORT

$500,000
Jp Morgan Chase Foundation

New York, NY

PURPOSE: IN SUPPORT OF FINANCIAL HEALTH

$500,000
Payette River Foundation

Lafayette, CA

PURPOSE: GENERAL FUND

$300,000
Koshland Foundation

Menlo Park, CA

PURPOSE: SUPPORT FOR KINDERGARTEN TO COLLEGE PROGRAM WITH OAKLAND USD

$250,000
Cestra Butner Family Foundation

Oakland, CA

PURPOSE: GENERAL SUPPORT

$200,000
View Grant Recipient Profile

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