Overview
What is Possibility Labs?
Possibility Labs is a nonprofit organization based in San Francisco, California, with a mission to empower Black, Indigenous, people of color, and historically low-income communities by co-creating a new economy that fosters self-determination. Under their fiscal sponsorship program, they host individual projects aligned with their mission and provide administrative support, including accounting, finance, human resources, and IT management. Possibility Labs acts as a sponsor, enabling these projects to operate as fiscally-sponsored entities and carry out their charitable and educational programs. The organization has a team of 38 employees.
Official website here: www.possibilitylabs.org
What are the reviews and ratings of this charity?
Possibility Labs is not currently rated by Charity Navigator. This absence of a rating simply means that the organization has not yet been evaluated, rather than indicating a positive or negative assessment. The criteria for evaluation include factors like Accountability & Finance and Impact & Measurement, but Possibility Labs lacks enough historical data for such assessment.
The organization currently has only two years of electronically filed Form 990 data available, which are key for proper evaluation by Charity Navigator. The forms reveal details about revenue, expenses, and salaries of key personnel, portraying a pay structure with notable compensation for executive roles. Possibility Labs is an independent foundation predominantly supported by the public or governmental units.
Without a rating, insights into Possibility Labs' operational efficacy are limited. The organization also needs more data on Constituent Feedback, Equity Practices, Leadership Capacity, and Strategic Planning to be evaluated through other methodologies like Culture & Community, and Leadership & Adaptability. There are no user reviews from GreatNonprofits available to provide community feedback.
This AI summary has been generated from information found on Charity Navigator.
Is Possibility Labs legitimate?
Possibility Labs is a legitimate nonprofit organization registered as a 501(c)(3) entity. Possibility Labs submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,126,487
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,945,777
For more financial information, click here
Official website here: www.possibilitylabs.org
What is the mission statement of Possibility Labs?
The organization, Possibility Labs, is dedicated to co-creating a new economy where Black, Indigenous, People of Color, and Historically Low-Income Communities have the power of self-determination. Through its fiscal sponsor program, the organization supports value-aligned projects by implementing their charitable and educational programs, providing administrative services such as accounting, finance, human resources, and IT management. The mission of Possibility Labs aims to empower these communities and give them a voice in shaping their own economic futures. The organization's goal is to build a more equitable society where all communities have the opportunity to thrive. By fostering self-determination, Possibility Labs aspires to create lasting change and foster a more just and inclusive economy.
Official website here: www.possibilitylabs.org
Who is the CEO of Possibility Labs?
Jill Smith is the Board Member of Possibility Labs. The CEO's salary of Possibility Labs is $229,266 and their total compensation is $236,253.
Official website here: www.possibilitylabs.org
What is the revenue of Possibility Labs?
Possibility Labs's revenue in 2022 was $46,742,841.
Official website here: www.possibilitylabs.org
Who are the executives of Possibility Labs and what are their salaries?
The average compensation at Possibility Labs during 2022 was $80,849. There are 38 employees and 6 volunteers at Possibility Labs.
Here are 7 key members and their salaries (Possibility Labs's CEO's salary is $229,266 and their total compensation is $236,253):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $229,266
- Related: $0
- Other: $6,987
- Compensation: $227,921
- Related: $0
- Other: $16,343
- Compensation: $178,007
- Related: $0
- Other: $8,841
- Compensation: $187,947
- Related: $0
- Other: $15,146
- Compensation: $236,643
- Related: $0
- Other: $19,383
Official website here: www.possibilitylabs.org
Where can I find the form 990 for Possibility Labs?
Possibility Labs's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.possibilitylabs.org
Learn more at the official website: www.possibilitylabs.org
Mission Statement of Possibility Labs
Possibility Labs, a mission-driven organization, strives to co-create a new economy empowering Black, Indigenous, People of Color, and Historically Low-Income Communities with the power of self-determination. Through its fiscal sponsor program, the organization provides support to value-aligned projects, implementing their charitable and educational programs. This includes offering essential administrative services such as accounting, finance, human resources, and IT management. The organization's focus on self-determination enables these projects to thrive and make a significant impact within their communities. By fostering an inclusive and equitable economic landscape, Possibility Labs aims to build a brighter future for underrepresented groups.
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Impact
October, 2024
Possibility Labs aims to empower Black, Indigenous, people of color, and historically low-income communities by fostering self-determination and co-creating a new economy. By hosting and supporting various projects that align with this mission, Possibility Labs enhances the capacity of local initiatives to implement charitable and educational programs. These projects are enriched through essential administrative services that include accounting, finance, human resources, and IT management, enabling them to focus more on their core missions and community impact.
The organization’s work contributes to building a holistic framework where marginalized communities can thrive economically and socially. By addressing systemic inequalities and championing the voices and needs of these communities, Possibility Labs plays a crucial role in facilitating sustainable development and promoting equitable opportunities, ultimately leading to a more inclusive economy.
This information is meant to be a general summary of Possibility Labs. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $8,889
- Program Service Revenue: $1,985,697
- Gross Receipts: $47,233,419
Assets and Liabilities:
- Total Assets: $30,143,060
- Total Liabilities: $2,147,276
- Net Assets: $27,995,784
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$1,985,697
Organization Details
Founding Year
2020
Phone
(213) 408-0508Principal Officer
Jill Smith
Main Address
1410 FRANKLIN STREET 135, SAN FRANCISCO, CA, 94109
Website
www.possibilitylabs.orgNTEE Category
Code: P20 - Human services
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