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← POSSIBILITY LABS

Form 990 for tax year 2022

Filed by POSSIBILITY LABS.

What the amendment changed

Compared with the return it replaced , filed 15 November 2023. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$46,742,841 changed to $43,362,506
Total expenses
$20,919,752 changed to $19,492,753
Contributions and grants received
$44,743,879 changed to $42,957,435
Grants paid
$12,720,297 changed to $12,714,127
Program service revenue
$1,985,697 changed to $391,805
Other revenue
$4,376 changed to $4,377
Total assets, end of year
$30,143,060 changed to $29,603,098
Total liabilities, end of year
$2,147,276 changed to $3,560,650
Net assets or fund balances, end of year
$27,995,784 changed to $26,042,448
Program services expenses
$19,538,865 changed to $18,120,618
Management and general expenses
$775,559 changed to $984,027
Fundraising expenses
$605,328 changed to $388,108
Program service expenses (Part III)
$19,538,865 changed to $18,120,618

Listed only on the later return

  • Kelsey Baker
  • Mark Watson

Listed under a different title

  • Vanessa Huang: VP OF PARTNERSHIPS then VP OF PARTNERSHIPS (THROUGH 12/19/22)

Totals

Total revenue
$43,362,506
Total expenses
$19,492,753
Contributions and grants received
$42,957,435
Grants paid
$12,714,127
Program service revenue
$391,805
Investment income
$8,889
Other revenue
$4,377
Total assets, end of year
$29,603,098
Total liabilities, end of year
$3,560,650
Net assets or fund balances, end of year
$26,042,448
Program services expenses (Part IX)
$18,120,618
Management and general expenses
$984,027
Fundraising expenses
$388,108
Program service expenses (Part III)
$18,120,618

Program services were 93.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $42,957,435

  • 2a · Program service revenue: PROGRAM FEES REVENUE

    total $391,805 · related or exempt $391,805

  • 3 · Investment income

    total $29 · excluded $29

  • 7a · Gross sales of assets other than inventory

    securities $487,485

  • 7b · Less cost or other basis and sales expenses

    securities $478,625

  • 7c · Gain or loss

    securities $8,860

  • 7d · Net gain or loss

    total $8,860 · excluded $8,860

  • 10a · Gross sales of inventory

    $13,283

  • 10b · Cost of goods sold

    $11,953

  • 10c · Net income from sales of inventory

    total $1,330 · excluded $1,330

  • 11a · Other revenue: OTHER INCOME

    total $3,047 · related or exempt $3,047

  • 11e · Other revenue, total

    $3,047

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,694,127 · program services $12,694,127

  • 3 · Grants to foreign organizations and individuals

    total $20,000 · program services $20,000

  • 5 · Compensation of officers, directors and key employees

    total $1,126,487 · program services $649,438 · management and general $299,945 · fundraising $177,104

  • 7 · Other salaries and wages

    total $2,111,010 · program services $1,761,242 · management and general $232,887 · fundraising $116,881

  • 9 · Other employee benefits

    total $349,175 · program services $287,458 · management and general $33,614 · fundraising $28,103

  • 10 · Payroll taxes

    total $234,275 · program services $184,952 · management and general $27,900 · fundraising $21,423

  • 11b · Fees: legal

    total $162,042 · program services $81,021 · management and general $81,021

  • 11c · Fees: accounting

    total $130,835 · management and general $130,835

  • 11g · Fees: other

    total $1,250,335 · program services $1,139,389 · management and general $86,601 · fundraising $24,345

  • 13 · Office expenses

    total $214,216 · program services $174,934 · management and general $37,724 · fundraising $1,558

  • 16 · Occupancy

    total $206,004 · program services $181,159 · management and general $12,690 · fundraising $12,155

  • 17 · Travel

    total $323,474 · program services $311,566 · management and general $6,402 · fundraising $5,506

  • 20 · Interest

    total $21,150 · program services $6,475 · management and general $14,675

  • 23 · Insurance

    total $11,955 · management and general $11,955

  • 24a · Other expenses: PROGRAM FEES

    total $560,092 · program services $560,092

  • 24b · Other expenses: SUPPLIES

    total $36,317 · program services $35,712 · management and general $605

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $23,962 · program services $18,352 · management and general $4,577 · fundraising $1,033

  • 24d · Other expenses: EQUIPMENT

    total $17,297 · program services $14,701 · management and general $2,596

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,265,505 · end of year $16,657,945

  • 2 · Savings and temporary cash investments

    end of year $2,000,000

  • 3 · Pledges and grants receivable

    beginning of year $43,750 · end of year $10,694,075

  • 4 · Accounts receivable

    end of year $214,446

  • 15 · Other assets

    beginning of year $17,302 · end of year $36,632

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,862 · end of year $1,061,007

  • 25 · Other liabilities

    beginning of year $0 · end of year $2,499,643

  • 27 · Net assets without donor restrictions

    beginning of year $803,248 · end of year $2,411,901

  • 28 · Net assets with donor restrictions

    beginning of year $1,369,447 · end of year $23,630,547

Mission and programs · 2022

Mission

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.

  • 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.

    Expenses $18,120,618 · Grants $12,714,127 · Revenue $394,852

As filed on the 2022 return.

Listed in Part VII

  • Khalid Kadir

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rosemary E Fei

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Keiko Murase

    CO-CEO

    Total calculated
    $236,253
    From this org
    $229,266
    From related orgs
    $0
    Other
    $6,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,266
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,987
    Filer's total
    $236,253

  • Lem White

    CO-CEO

    Total calculated
    $244,264
    From this org
    $227,921
    From related orgs
    $0
    Other
    $16,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,921
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,343
    Filer's total
    $244,264

  • Kelsey Baker

    SECRETARY

    Total calculated
    $153,207
    From this org
    $141,093
    From related orgs
    $0
    Other
    $12,114
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $141,093
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,114
    Filer's total
    $153,207

  • Mark Watson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jaimee Estreller

    VICE PRESIDENT OF MARKETING AND COMMUNICATIONS

    Total calculated
    $186,848
    From this org
    $178,007
    From related orgs
    $0
    Other
    $8,841
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,007
    Bonus
    $0
    Other
    $0
    Deferred
    $343
    Nontaxable benefits
    $8,498
    Filer's total
    $186,848

  • Deborah Nelson

    EXECUTIVE DIRECTOR TO FSP

    Total calculated
    $203,093
    From this org
    $187,947
    From related orgs
    $0
    Other
    $15,146
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,947
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,146
    Filer's total
    $203,093

  • Vanessa Huang

    VP OF PARTNERSHIPS (THROUGH 12/19/22)

    Total calculated
    $256,026
    From this org
    $236,643
    From related orgs
    $0
    Other
    $19,383
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,643
    Bonus
    $0
    Other
    $0
    Deferred
    $5,370
    Nontaxable benefits
    $14,013
    Filer's total
    $256,026

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
12 September 2024
IRS schema version
2022v5.0
Source object
202432569349300433

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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