Possibility Labs

Analysis

Possibility Labs is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in January 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Possibility Labs reported income of $25.0m and spending of $33.8m, spending 135% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $380k to $25.0m (+6475%), an average of +304% a year. The sharpest change came in the year to December 2021, when income rose by 1527%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Possibility Labs sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Parc Inc ($25.0m), Orchard Cove Inc ($25.0m) and YMCA of Greater Omaha ($25.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.8% of the total. Other salaries and wages came to $3.7m. At year end it held assets of $21.6m against liabilities of $4.4m, net assets of $17.2m. It reported 58 employees.