Oakland Promise
- Assets
- $34.5m
- Revenue
- $20.8m
- Investments
- $0.0
- Employees
- 45
- Location
- Oakland, CA
- Founding
- 11/2003
- Data as of
- 06/2020
- EIN
- 54-2103707
Organization Overview
Oakland Promise is located in Oakland, CA. The organization was established in 2003. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2020, Oakland Promise employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Oakland Promise generated $20.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 42.9% each year . All expenses for the organization totaled $8.3m during the year ending 06/2020. While expenses have increased by 34.0% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL FINANCIAL ASSISTANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
EAST BAY COLLEGE FUND ("EBCF") PROVIDES COLLEGE ACCESS SERVICES AT PUBLIC HIGH SCHOOLS IN OAKLAND. THIS INCLUDES COLLEGE ADVISING, FAFSA COMPLETION, AND CREATING A COLLEGE-GOING CULTURE. EBCF ALSO PROVIDES MULTI-YEAR SCHOLARSHIPS FOR LOW-INCOME STUDENTS TO ATTEND COLLEGE, AND WRAP-AROUND SUPPORT SERVICES, INCLUDING ONE ON ONE MENTORING, COUNSELING, PEER-GROUPS SUPPORT ON CAMPUS, FINANCIAL LITERACY, AND LIFE-SKILLS RETREATS THROUGHOUT THE COLLEGE JOURNEY.
EAST BAY COLLEGE FUND ("EBCF") PROVIDES COLLEGE ACCESS SERVICES AT PUBLIC HIGH SCHOOLS IN OAKLAND. THIS INCLUDES COLLEGE ADVISING, FAFSA COMPLETION, AND CREATING A COLLEGE-GOING CULTURE. EBCF ALSO PROVIDES MULTI-YEAR SCHOLARSHIPS FOR LOW-INCOME STUDENTS TO ATTEND COLLEGE, AND WRAP-AROUND SUPPORT SERVICES, INCLUDING ONE ON ONE MENTORING, COUNSELING, PEER-GROUPS SUPPORT ON CAMPUS, FINANCIAL LITERACY, AND LIFE-SKILLS RETREATS THROUGHOUT THE COLLEGE JOURNEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mialisa Bonta CEO | Officer | 40 | $195,000 |
Rachel Westmoreland Chief Financial & Operations Officer | Officer | 40 | $140,000 |
Sandra Ernst Director, College Access And College Completion | 40 | $140,000 | |
Amanda Feinstein Director, Brilliant Baby | 40 | $129,744 | |
Maggie Croushore Director Of Development | 40 | $125,000 | |
Seth Hamalian Treasurer | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $678,186 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,937,751 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,615,937 |
| Total Program Service Revenue | $0 |
| Investment income | $182,736 |
| 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 | $20,798,673 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,099,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $729,744 |
| Compensation of current officers, directors, key employees. | $172,370 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,155,138 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $225,833 |
| Payroll taxes | $233,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $157,556 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $351,296 |
| Travel | $25,368 |
| 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 | $73,683 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,257,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,043,833 |
| Savings and temporary cash investments | $612,458 |
| Pledges and grants receivable | $2,564,530 |
| 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 | $58,548 |
| Net Land, buildings, and equipment | $31,442 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $11,231,865 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,542,676 |
| Accounts payable and accrued expenses | $133,059 |
| 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 | $529,053 |
| Other liabilities | $39,586 |
| Total liabilities | $701,698 |
| Net assets without donor restrictions | $15,959,229 |
| Net assets with donor restrictions | $17,881,749 |
| 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 | $34,542,676 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Oakland Promise has recieved totaling $171,416.
| Awarding Organization | Amount |
|---|---|
Koret Foundation San Francisco, CA PURPOSE: SCHOLARSHIPS AND PERSISTENCE SUPPORT AT THE PERALTA COMMUNITY COLLEGE DISTRICT | $125,000 |
Kazan Mcclain Partners Foundation Oakland, CA PURPOSE: GENERAL SUPPORT | $30,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $11,416 |
Robert & Catherine Miller Charitable Foundation Oakland, CA PURPOSE: UNRESTRICTED GIFT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arizona Tuition Connection Inc Scottsdale, AZ | $27,939,156 | $24,927,577 |
Port Of Los Angeles High School San Pedro, CA | $18,161,675 | $15,549,620 |
The Rogers Foundation Las Vegas, NV | $0 | -$608,444 |
La Promise Fund Los Angeles, CA | $7,744,642 | $11,950,432 |
Scholarship Foundation Of Santa Barbara Santa Barbara, CA | $74,237,459 | $10,689,149 |
Ressler Gertz Foundation Encino, CA | $46,835,950 | $8,684,083 |
Society Of Hispanic Professional Engineers City Of Industry, CA | $4,967,316 | $9,183,755 |
Foundation For Global Sports Development Los Angeles, CA | $28,038,921 | $14,853,560 |
Brophy Community Foundation Phoenix, AZ | $17,698,490 | $9,436,405 |
Oakland Promise Oakland, CA | $34,542,676 | $20,798,673 |
Uc Hastings Foundation San Francisco, CA | $4,961,420 | $11,204,204 |
Arizona Private Education Scholarship Fund Inc Scottsdale, AZ | $3,921,870 | $7,609,487 |