Possibility Labs
- Assets
- $21.6m
- Revenue
- $25.0m
- Investments
- $0.0
- Employees
- 58
- Location
- San Francisco, CA
- Founding
- Data as of
- 12/2023
- EIN
- 85-3989363
Organization Overview
Possibility Labs is located in San Francisco, CA. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Possibility Labs employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Possibility Labs 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, Possibility Labs generated $25.0m in total revenue. All expenses for the organization totaled $33.8m during the year ending 12/2023.
Since 2021, Possibility Labs has awarded 374 individual grants totaling $44,728,235. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CO-CREATE A NEW ECONOMY WHERE BLACK, INDIGENOUS, PEOPLE OF COLOR, AND HISTORICALLY LOW-INCOME COMMUNITIES HAVE THE POWER OF SELF-DETERMINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POSSIBILITY LABS PROVIDES SCALABLE BACK-OFFICE OPERATIONAL AND FUND DEPLOYMENT SERVICES ROOTED IN TRUST-BASED AND NON-EXTRACTIVE PRACTICES. THROUGH OUR FISCAL SPONSORSHIP PROGRAM, WE SUPPORT NONPROFIT PROJECTS AND SOCIAL ENTERPRISES TO ACCESS THE AGILE AND TRANSPARENT TOOLS THEY NEED TO OPERATE WITH AUTONOMY AND AGILITY. WE PROVIDE HUMAN RESOURCES, ACCOUNTING, FINANCIAL OPERATIONS, AND BUSINESS INTELLIGENCE SUPPORT TO OUR PARTNERS SO THEY CAN GROW THEIR WORK AND IMPACT.THROUGH OUR REDISTRIBUTION DAF (DONOR-ADVISED FUND) AND RESOURCING INITIATIVES WE PARTNER WITH FOUNDATIONS, INDIVIDUAL DONORS, IMPACT INVESTORS, COMMUNITY-GOVERNED FUNDS, AND OTHERS TO INCREASE THE FLOW OF CAPITAL TO UNDER-RESOURCED GROUPS BUILDING POWER AND WEALTH IN OUR BIPOC COMMUNITIES. WE ACTIVATE OUR PARTNERS' ENTIRE PORTFOLIOS TOWARDS IMPACT, WHICH INCLUDES MULTI-YEAR GRANTS, RECOVERABLE GRANTS, LOAN GUARANTEES, AND RAPID FUND DISBURSEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lem White Co-Ceo | OfficerTrustee | 40 | $146,945 |
Keiko Murase Co-Ceo | OfficerTrustee | 40 | $133,125 |
Mark Watson Board Member | Trustee | 1 | $0 |
Khalid Kadir Board Member | Trustee | 1 | $0 |
Rosemary E Fei Board Member | Trustee | 1 | $0 |
Leo Freeman Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Noble Accounting Accounting | 12/30/23 | $246,352 |
Alder And Colvin Legal | 12/30/23 | $228,681 |
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 | $23,641,155 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,641,155 |
| Total Program Service Revenue | $1,199,574 |
| Investment income | $133,809 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,531 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,463 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,985,359 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,274,949 |
| Grants and other assistance to domestic individuals. | $33,300 |
| 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 | $3,725,916 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $497,220 |
| Payroll taxes | $321,847 |
| 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 | $2,025,353 |
| Advertising and promotion | $0 |
| Office expenses | $222,931 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $149,699 |
| Travel | $449,446 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $26,638 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,471 |
| All other expenses | $0 |
| Total functional expenses | $33,827,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,051,261 |
| Savings and temporary cash investments | $603,023 |
| Pledges and grants receivable | $784,865 |
| Accounts receivable, net | $150,417 |
| 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 | $25,583 |
| Total assets | $21,615,149 |
| Accounts payable and accrued expenses | $3,935,045 |
| 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 | $479,746 |
| Total liabilities | $4,414,791 |
| Net assets without donor restrictions | $2,472,278 |
| Net assets with donor restrictions | $14,728,080 |
| 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 | $21,615,149 |
Grants Awarded
Over the last fiscal year, Possibility Labs has awarded $24,412,835 in support to 155 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE FOR A JUST SOCIETY PURPOSE: NATIVE ORGANIZERS ALLIANCE | $100,000 |
ACORN CENTER FOR RESTORATION AND FREEDOM PURPOSE: GENERAL OPERATING SUPPORT | $150,000 |
ALASKA COMMUNITY ACTION ON TOXICS PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
ALLIED MEDIA PROJECTS FBO INTELLIGENT MISCHIEF PURPOSE: INTELLIGENT MISCHIEF | $10,000 |
ALTERNATE ROOTS INC PURPOSE: SPIRIT HOUSE | $150,000 |
ASIAN PACIFIC ENVIRONMENTAL NETWORK PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |