Friends Of The Public Bank East Bay
- Assets
- $672.3k
- Revenue
- $510.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Oakland, CA
- Founding
- Data as of
- 12/2023
- EIN
- 84-4537320
Organization Overview
Friends Of The Public Bank East Bay is located in Oakland, CA. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Public Bank East Bay 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 12/2023, Friends Of The Public Bank East Bay generated $510.1k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 57.0% each year . All expenses for the organization totaled $270.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FRIENDS OF THE PUBLIC BANK EAST BAY (FPBEB) IS TO WORK WITH LOCAL CITIES AND COUNTIES TO ESTABLISH A PUBLIC BANK IN THE EAST BAY REGION OF THE SAN FRANCISCO, CALIFORNIA BAY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MADE SUBSTANTIAL PROGRESS TOWARD ITS GOAL OF SUBMITTING A BANK LICENSE APPLICATION TO THE FEDERAL AND STATE REGULATORS FOR A PUBLIC BANK IN CALIFORNIAS EAST BAY REGION. SPECIFIC ACCOMPLISHMENTS INCLUDE: HIRING A PART-TIME START-UP CEO WITH EXCELLENT QUALIFICATIONS AND EXPERIENCE, BRINGING THE THREE CONTEMPLATED FOUNDING MEMBER CITIES AND THE COUNTY OF ALAMEDA (CONTEMPLATED MAJOR CAPITAL CONTRIBUTOR) TO THE TABLE TO DISCUSS PARTICIPATION DETAILS; RAISING ROUGHLY 50% OF THE NEEDED FUNDS TO SEE THE ORGANIZATION THROUGH THE LICENSE APPLICATION PROCESS, AND COMPLETING A POLISHED NEAR-FINAL DRAFT BUSINESS PLAN WHICH WILL BE THE CORE OF THE APPLICATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Notkin Chair/secretary | OfficerTrustee | 20 | $0 |
George Y Quaye Treasurer | OfficerTrustee | 10 | $0 |
Susan Harman Director | Trustee | 40 | $0 |
Margie Lewis Director | Trustee | 20 | $0 |
Baba Kofi Weusijana Director | Trustee | 5 | $0 |
Brian Mckeown Director | Trustee | 5 | $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 | $505,091 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $505,091 |
| Total Program Service Revenue | $0 |
| Investment income | $5,011 |
| 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 | $510,102 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $264,934 |
| Advertising and promotion | $0 |
| Office expenses | $5,324 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $270,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $672,275 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $672,275 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $672,275 |
| Net assets with donor restrictions | $0 |
| 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 | $672,275 |