Possibility Labs
- Assets
- $2.3m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 17
- Location
- San Francisco, CA
- Founding
- Data as of
- 12/2021
- 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 12/2021, Possibility Labs employed 17 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 12/2021, Possibility Labs generated $6.2m in total revenue. All expenses for the organization totaled $4.2m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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
UNDER THE ORGANIZATION'S FISCAL SPONSOR PROGRAM, THE ORGANIZATION HOSTS INDIVIDUAL PROJECTS WHICH ARE VALUE-ALIGNED WITH THE MISSION OF THE ORGANIZATION AS FISCALLY-SPONSORED PROJECTS, AND SUPPORTS THEM BY IMPLEMENTING THE PROJECT'S CHARITABLE AND EDUCATIONAL PROGRAMS, INCLUDING PROVIDING ADMINISTRATIVE SERVICES, INCLUDING ACCOUNTING, FINANCE, HUMAN RESOURCES, AND IT MANAGEMENT.
IN ADDITION TO THE FISCAL SPONSOR PROGRAM, THE ORGANIZATION EXPANDED THE SCOPE OF ITS PROGRAMS TO INCLUDE DONOR ADVISED FUNDS (DAF) IN 2021. THE DAF PROGRAM IS DESIGNED TO DEPLOY INTEGRATED CAPITAL AND MULTI-YEAR GRANTS AND INVESTMENTS TO COMMUNITY INNOVATORS, SOCIAL ENTREPRENEURS, AND DONORS, AND TO IMPACT INVESTORS IN THE CATALYTIC WORK OF CO-CREATING THE NEW REALITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keiko Murase Co-Ceo | OfficerTrustee | 40 | $189,061 |
Lem White Co-Ceo | OfficerTrustee | 40 | $187,914 |
Masako Kalbach VP Of People Opns | 40 | $147,284 | |
Vanessa Huang VP Of Partnerships | 40 | $127,811 | |
Kelsey Baker Chief Of Staff | Trustee | 40 | $39,247 |
Khalid Kadir Board Member | 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 | $5,966,708 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,966,708 |
| Total Program Service Revenue | $200,255 |
| Investment income | $49 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,165 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $12,616 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,183,574 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,557,100 |
| 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. | $411,583 |
| Compensation of current officers, directors, key employees. | $62,471 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $886,645 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $115,765 |
| Payroll taxes | $100,342 |
| Fees for services: Management | $65,320 |
| Fees for services: Legal | $220,713 |
| Fees for services: Accounting | $93,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $376,157 |
| Advertising and promotion | $0 |
| Office expenses | $112,297 |
| Information technology | $154,958 |
| Royalties | $0 |
| Occupancy | $62,014 |
| Travel | $40,121 |
| 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 | $7,305 |
| All other expenses | $0 |
| Total functional expenses | $4,241,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,265,505 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $43,750 |
| 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 | $17,302 |
| Total assets | $2,326,557 |
| Accounts payable and accrued expenses | $153,862 |
| 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 | $153,862 |
| Net assets without donor restrictions | $803,248 |
| Net assets with donor restrictions | $1,369,447 |
| 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 | $2,326,557 |
Grants Awarded
Over the last fiscal year, Possibility Labs has awarded $1,485,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Seattle, WA PURPOSE: GENERAL OPERATING SUPPORT | $500,000 |
VISIBLE HANDS VC PBC PURPOSE: TO DEVELOP A PORTFOLIO OF COMPANIES THAT WILL POSITIVELY IMPACT MINORITY COMMUNITIES AND DRIVE ECONOMIC GROWTH AS WELL AS CREATE A PIPELINE OF DIVERSE-LED BUSINESSES READY FOR SEED AND LATER STAGE FUNDING | $480,000 |
VISIBLE HANDS VC PBC PURPOSE: TO DEVELOP A PORTFOLIO OF COMPANIES THAT WILL POSITIVELY IMPACT MINORITY COMMUNITIES AND DRIVE ECONOMIC GROWTH AS WELL AS CREATE A PIPELINE OF DIVERSE-LED BUSINESSES READY FOR SEED AND LATER STAGE FUNDING | $240,000 |
RANDIANT STRATEGIES LLC PURPOSE: TO DEVELOP A NEW EQUITY-FOCUSED PHILANTHROPIC CURRICULUM THAT WILL PROVIDE EDUCATION AND EXPERIENTIAL LEARNING OPPORTUNITIES, COACHING, AND STRATEGY PLANNING FOR DONORS. | $192,000 |
THE GUILD COLLECTIVE LLC PURPOSE: TO SUPPORT GROUNDCOVER (NIKISHKA IYENGAR) THROUGH BII COHORT PARTICIPATORY GRANTMAKING POOL | $20,400 |
Oakland, CA PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Possibility Labs has recieved totaling $2,265,455.
| Awarding Organization | Amount |
|---|---|
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $700,000 |
Community Initiatives Oakland, CA PURPOSE: PROJECT EXIT GRANT | $567,405 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Human Services | $250,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250,000 |
The California Endowment Los Angeles, CA PURPOSE: CALIFORNIA TRANSCENDS - ADVANCING TRANSGENDER HEALTH EQUITY: TO SUPPORT A STATEWIDE COLLABORATIVE EFFORT HARNESSING THE VOICES OF ESTABLISHED AND EMERGING TRANSGENDER-LED COMMUNITY ORGANIZATIONS TO ASSESS THE POTENTIAL MUTUAL BENEFIT OF COLLECTIVELY IDENTIFYING COMMON PUBLIC HEALTH-RELATED PRIORITIES, DEVELOPING A PUBLIC HEALTH FRAMEWORK AND BUILDING ADVOCACY CAPACITY TO PROMOTE TRANSGENDER HEALTH EQUITY IN CALIFORNIA. | $233,000 |
The Nathan Cummings Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Community Services Of The Mid Willamette Valley & Central Salem, OR | $4,444,104 | $18,908,977 |
The Davis Street Community Center Incorporated San Leandro, CA | $4,867,189 | $19,457,614 |
Community Action Team Incorporated Of St Helens, OR | $13,623,146 | $18,435,042 |
Outside In Portland, OR | $20,557,070 | $19,364,010 |
Yamhill Community Action Partnership Mcminnville, OR | $6,898,009 | $17,038,077 |
California Human Development Corp Santa Rosa, CA | $9,372,537 | $16,167,799 |
Lutheran Social Services Of Northern California Concord, CA | $7,407,903 | $15,266,538 |
Global Support And Development Redwood City, CA | $35,645,225 | $48,473,756 |
Oregon Human Development Corporation Gresham, OR | $1,006,372 | $15,394,021 |
Louis And Gladyce Foster Family Foundation Stockton, CA | $0 | $100,317 |
Union Of Pan Asian Communities San Diego, CA | $5,542,645 | $15,801,296 |
Psa Behavioral Health Agency Phoenix, AZ | $11,491,382 | $16,032,932 |