Ambition Angels
- Assets
- $540.1k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 4
- Location
- East Palo Alto, CA
- Founding
- Data as of
- 12/2023
- EIN
- 87-2513010
Organization Overview
Ambition Angels is located in East Palo Alto, CA. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2023, Ambition Angels employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ambition Angels 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, Ambition Angels generated $1.2m in total revenue. All expenses for the organization totaled $850.7k during the year ending 12/2023. While expenses have increased by 130.6% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HELPING EQUIP UNDERSERVED TEENS WITH THE SKILLS NEEDED TO THRIVE IN SCHOOL, THEIR CAREERS, AND LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, AMBITION ANGELS SIGNIFICANTLY EXPANDED OUR IMPACT ON UNDERSERVED TEENS, TRIPLING OUR CURRICULUM LIBRARY AND WELCOMING KEY TEAM MEMBERS, INCLUDING AN OPERATIONS MANAGER AND CURRICULUM DEVELOPER. OUR FUNDRAISING EFFORTS SAW A FIVEFOLD INCREASE, LEADING TO OUR LARGEST DONATION FOR A CITY-WIDE LAUNCH IN OAKLAND IN 2024. IN PARTNERSHIP WITH STANFORD, WE ESTABLISHED A FRAMEWORK FOR LONG-TERM IMPACT ASSESSMENTS, EMPHASIZING THE 5 C'S OF POSITIVE YOUTH DEVELOPMENT. OUR PROGRAM'S EFFECTIVENESS WAS UNDERSCORED BY A THIRD-PLACE FINISH IN THE NATIONAL TELOCITY MENTAL HEALTH CHALLENGE, DEMONSTRATING OUR APP'S POTENTIAL IN MENTAL HEALTH AND PERSONAL DEVELOPMENT. THIS YEAR'S SUCCESSES SET A STRONG FOUNDATION FOR FUTURE GROWTH AND DEEPER COMMUNITY ENGAGEMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olaremi Sobomehin President/ce | Officer | 40 | $164,863 |
Jerrell Brown Treasurer/bo | OfficerTrustee | 1 | $0 |
Aaron Ragsdale Secretary/bo | OfficerTrustee | 1 | $0 |
Kendra Sobomehin Cfo/board | Trustee | 2 | $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 | $1,161,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,161,002 |
| Total Program Service Revenue | $0 |
| 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 | $1,161,002 |
| 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. | $164,863 |
| Compensation of current officers, directors, key employees. | $16,486 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,127 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,711 |
| Payroll taxes | $15,404 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $120,601 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $456,037 |
| Advertising and promotion | $1,184 |
| Office expenses | $19,583 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,024 |
| Travel | $5,163 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $216 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,693 |
| All other expenses | $254 |
| Total functional expenses | $850,692 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $412,096 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $128,036 |
| 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 | $540,132 |
| Accounts payable and accrued expenses | $157,749 |
| 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 | $157,749 |
| Net assets without donor restrictions | $382,383 |
| 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 | $540,132 |