50 Breakthroughs Foundation
- Assets
- $12.6m
- Revenue
- $121.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Oakland, CA
- Founding
- 04/2018
- Data as of
- 12/2022
- EIN
- 82-2180399
Organization Overview
50 Breakthroughs Foundation is located in Oakland, CA. The organization was established in 2018. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, 50 Breakthroughs Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 50 Breakthroughs Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DISCOVER, DESIGN, DEVELOP, AND DELIVER SCIENTIFIC AND TECHNOLOGICAL PRODUCTS AND SERVICES TO ADDRESS ISSUES FACING THE POOR AND UNDER-SERVED INTERNATIONALLY AND WITHIN THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS CORPORATION WILL FOCUS ON PRODUCTS AND SERVICES WITH A POTENTIAL TO IMPROVE THE LIVES OF THE POOR AND UNDER-SERVED, INCLUDING THOSE RELATED TO IMPROVING ACCESS TO ENERGY, ACCESS TO SANITATION AND DEVELOPING THE MEDICAL OXYGEN SUPPLY INFRASTRUCTURE IN SUB-SAHARAN AFRICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Noha El-Ghobashy CEO | OfficerTrustee | 40 | $199,447 |
Stefano Bertozzi Board Member - Until 4/2022 | Trustee | 1 | $0 |
Shashi Buluswar Board Member | Trustee | 1 | $0 |
Tawana Muchatuta Board Member | Trustee | 1 | $0 |
Karen Pak Oppenheimer Board Member | Trustee | 1 | $0 |
Sandro Tuzzo Board Member - Until 4/2022 | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $121,232 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $121,232 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $376,514 |
| Compensation of current officers, directors, key employees. | $94,128 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $403,686 |
| Pension plan accruals and contributions | $63 |
| Other employee benefits | $0 |
| Payroll taxes | $71,517 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $86,929 |
| Fees for services: Accounting | $276,029 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,160,572 |
| Advertising and promotion | $0 |
| Office expenses | $142,600 |
| Information technology | $1,119 |
| Royalties | $0 |
| Occupancy | $11,660 |
| Travel | $155,814 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $240,172 |
| Insurance | $88,627 |
| All other expenses | $0 |
| Total functional expenses | $2,693,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,957,092 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $68,330 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,220 |
| Net Land, buildings, and equipment | $6,044,963 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $150,000 |
| Intangible assets | $338,000 |
| Other assets | $5,567 |
| Total assets | $12,570,172 |
| Accounts payable and accrued expenses | $292,902 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,000,000 |
| Other liabilities | $400,805 |
| Total liabilities | $1,693,707 |
| Net assets without donor restrictions | $7,247,844 |
| Net assets with donor restrictions | $3,628,621 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,570,172 |