Civic Intelligence

Ambition Angels

990 • Fiscal year 2022 • EIN 87-2513010

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 13, 2023

2589 Gloria WayEast Palo Alto, CA 94303

(503) 803-5569

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

78th percentile

28%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

97th percentile

$82,500

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 37.1% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Assets

$72,073

No earlier filing loaded for comparison.

Net Assets

$72,073

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$222,100

No earlier filing loaded for comparison.

Expenses

$160,022

No earlier filing loaded for comparison.

Net Income

$62,078

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2022: $72,073Liabilities 2022: $0Net Assets 2022: $72,0732022Assets 2023: $540,132Liabilities 2023: $157,749Net Assets 2023: $382,3832023Assets 2024: $312,775Liabilities 2024: $314Net Assets 2024: $312,4612024Assets 2025: $168,680Liabilities 2025: $66,354Net Assets 2025: $102,3262025

Highlighted filing

2022

Assets$72,073
Liabilities$0
Net Assets$72,073

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2022: $222,100Expenses 2022: $160,022Net Income 2022: $62,0782022Revenue 2023: $1,161,002Expenses 2023: $850,692Net Income 2023: $310,3102023Revenue 2024: $946,098Expenses 2024: $1,016,020Net Income 2024: -$69,9222024Revenue 2025: $961,824Expenses 2025: $1,171,959Net Income 2025: -$210,1352025

Highlighted filing

2022

Revenue$222,100
Expenses$160,022
Net Income$62,078
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 13, 2023
Return Version
2022v5.0
Gross Receipts
$222,100
Mission and Program Overview

Mission

Helping equip underserved teens with the skills needed to thrive in school, their careers, and life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$9,995$72,073▲ $62,078
Total Assets$9,995$72,073▲ $62,078
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,995$72,073▲ $62,078
Total Net Assets Fund Balance$9,995$72,073▲ $62,078
Total Liabilities and Net Assets / Fund Balance$9,995$72,073▲ $62,078
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Olaremi SobomehinPresident/ceFT$82,500$82,500

Board Members and Trustees

NameTitle
Kendra SobomehinCFO/board
Aaron RagsdaleSecretary/bo
Jerrell BrownTreasurer/bo
Revenue and Support

Revenue Composition

Contributions and Grants
$222,100
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$222,100
Change in Net Assets
$62,078
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$89,098
Other Expenses$66,019
Total Fundraising Expense$32,029
Professional Fundraising Fees$4,905
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$49,500$8,250$24,750$82,500
Fees for Services Other$17,315--$17,315
Payroll Taxes$3,959$660$1,979$6,598
Fees for Services Professional Fundraising--$4,905$4,905
Travel$1,360--$1,360
Office Expenses$386$65$193$644
Fees for Services Accounting$204$34$102$340
Advertising$136$23$68$227
Other Expenses$234-$32$32
Total Functional Expenses$118,961$9,032$32,029$160,022
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$4,905
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Kendra sobomehin olaremi sobomehin board/cfo ceo husband

Form 990, Page 6, Part VI, Line 11B

The board has the responsibility for reviewing the organiation's form 990 (including all pertinent schedules) before it is filed with the internal revenue service. A draft of the form 990 is ready for review by the board no later than a week prior to the filing deadline. After the draft of the form 990 has been obtained by the board, they will have no more than a week to complete their review. In conducting their review of the draft of the form 990, the board conducts a top-level or big-picture type of review. However, if the board deems it necessary to conduct a more detailed review of the form 990, then they contact the preparer of the form 990 to requeset copies of the relevant detailed tax return workpapers which they would like to see. Once the board has completed its initial review of the form 990, a meeting or conference call is scheduled with the preparer of the form 990 to discuss any questions, comments, and suggested revisions identified by the board. The preparer of the form 990 makes any revisions to the form 990 as soon as feasibly possible to ensure that the form 990 is filed with the internal revenue service on a timely basis. All questions, comments, and suggested revisions set forth by the board are documended, along with any responses from the preparer of the form 990, if applicable.

Form 990, Page 6, Part VI, Line 12C

There were no instances of the organization having to enforce compliance with the conflict of interest policy. The board of directors and officers prepare an annual disclosure of any possible conflicts of interest. These disclosures are reviewed by the organization's management team, and should any disclosure justify further discussion/determination, the full board would vote on the transaction without the board membmer or officer present for the deliberation.

Form 990, Page 6, Part VI, Line 15A

The board relies on comparability data to determine and approve the compensation of the executive director. The board utilizes resources such as similary situated exempt organizations in their areas to benchmark pay along with market information from other exempt organizations and for- profit organizations to assess the competitiveness and reasonabliess of the compensation. Once a decision has been made, a vote is taken for approval by the board. Recusal of the individuals whose compensation is being determined is mandatory. A similar process is in place for determining compensation of the other key employees, if any.

Form 990, Page 6, Part VI, Line 15B

The organization utilizes compensation surveys to determine a reasonable range of compensation for key employees (if any).

Form 990, Page 6, Part VI, Line 19

The following organizational documents are available (for inspection or copying) at the organization's main office during normal business hours at no charge: -tax exemption application (form 1023) -internal revenue service determination letter -articles of incorporation -by-laws the public inspection copy of the organization's form 990 and form 990-t, from the previous three years (at a minimum), will be available (for inspection or copying) at the organization's main office during normal business hours at no charge, if applicable. The public inspection copy of the form 990 will not include the schedule of schedule a excess contributors or the schedule b names and addresses of contributors. The organization will make best efforts to ensure that the forms 990 and 990-t held at their main office are the most updated versions of such. For example, in the instance where a form 990 has been amended, the amended version of the form 990 or form 990-t will be the one available for public inspection. When responding to a public inspection request for any organizational document or form 990 (including form 990-t) by anyone, the organization fulfills such request in a timely fashion without inquiring as to the reason for the public inspection request. The following other document (most updated versions) is made available for inspection or copying) at the organization's main office during normal business hours at no charge: -conflict of interest policy

Filing and Contact Details

Filer

Filer Name
Ambition Angels
EIN
87-2513010
Phone
5038035569
Address
2589 GLORIA WAY, EAST PALO ALTO, CA 94303

Signing Officer

Name
Olaremi Sobomehin
Title
President/CEO
Phone
5038035569
Signed
2023-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Olaremi Sobomehin
Formed
2021
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
1
Volunteers
20

Preparer

Firm
Sozo Consulting
Address
121 RUGOSA DRIVE, FOLSOM, CA 95630
Preparer
Joshua M Cantwell
Phone
6509067272
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

The board of directrors and some programmatic volunteers.

Form 990, Part IX, Line 11G

Outside services -other 2,264 0 0 app creation service fees 8,675 0 0 curriculum creation fees 1,000 0 0 video creation 5,376 0 0 total 17,315 0 0

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTRORS AND SOME PROGRAMMATIC VOLUNTEERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1KENDRA SOBOMEHIN OLAREMI SOBOMEHIN BOARD/CFO CEO HUSBAND
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD HAS THE RESPONSIBILITY FOR REVIEWING THE ORGANIATION'S FORM 990 (INCLUDING ALL PERTINENT SCHEDULES) BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. A DRAFT OF THE FORM 990 IS READY FOR REVIEW BY THE BOARD NO LATER THAN A WEEK PRIOR TO THE FILING DEADLINE. AFTER THE DRAFT OF THE FORM 990 HAS BEEN OBTAINED BY THE BOARD, THEY WILL HAVE NO MORE THAN A WEEK TO COMPLETE THEIR REVIEW. IN CONDUCTING THEIR REVIEW OF THE DRAFT OF THE FORM 990, THE BOARD CONDUCTS A TOP-LEVEL OR BIG-PICTURE TYPE OF REVIEW. HOWEVER, IF THE BOARD DEEMS IT NECESSARY TO CONDUCT A MORE DETAILED REVIEW OF THE FORM 990, THEN THEY CONTACT THE PREPARER OF THE FORM 990 TO REQUESET COPIES OF THE RELEVANT DETAILED TAX RETURN WORKPAPERS WHICH THEY WOULD LIKE TO SEE. ONCE THE BOARD HAS COMPLETED ITS INITIAL REVIEW OF THE FORM 990, A MEETING OR CONFERENCE CALL IS SCHEDULED WITH THE PREPARER OF THE FORM 990 TO DISCUSS ANY QUESTIONS, COMMENTS, AND SUGGESTED REVISIONS IDENTIFIED BY THE BOARD. THE PREPARER OF THE FORM 990 MAKES ANY REVISIONS TO THE FORM 990 AS SOON AS FEASIBLY POSSIBLE TO ENSURE THAT THE FORM 990 IS FILED WITH THE INTERNAL REVENUE SERVICE ON A TIMELY BASIS. ALL QUESTIONS, COMMENTS, AND SUGGESTED REVISIONS SET FORTH BY THE BOARD ARE DOCUMENDED, ALONG WITH ANY RESPONSES FROM THE PREPARER OF THE FORM 990, IF APPLICABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE WERE NO INSTANCES OF THE ORGANIZATION HAVING TO ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS AND OFFICERS PREPARE AN ANNUAL DISCLOSURE OF ANY POSSIBLE CONFLICTS OF INTEREST. THESE DISCLOSURES ARE REVIEWED BY THE ORGANIZATION'S MANAGEMENT TEAM, AND SHOULD ANY DISCLOSURE JUSTIFY FURTHER DISCUSSION/DETERMINATION, THE FULL BOARD WOULD VOTE ON THE TRANSACTION WITHOUT THE BOARD MEMBMER OR OFFICER PRESENT FOR THE DELIBERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD RELIES ON COMPARABILITY DATA TO DETERMINE AND APPROVE THE COMPENSATION OF THE EXECUTIVE DIRECTOR. THE BOARD UTILIZES RESOURCES SUCH AS SIMILARY SITUATED EXEMPT ORGANIZATIONS IN THEIR AREAS TO BENCHMARK PAY ALONG WITH MARKET INFORMATION FROM OTHER EXEMPT ORGANIZATIONS AND FOR- PROFIT ORGANIZATIONS TO ASSESS THE COMPETITIVENESS AND REASONABLIESS OF THE COMPENSATION. ONCE A DECISION HAS BEEN MADE, A VOTE IS TAKEN FOR APPROVAL BY THE BOARD. RECUSAL OF THE INDIVIDUALS WHOSE COMPENSATION IS BEING DETERMINED IS MANDATORY. A SIMILAR PROCESS IS IN PLACE FOR DETERMINING COMPENSATION OF THE OTHER KEY EMPLOYEES, IF ANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION UTILIZES COMPENSATION SURVEYS TO DETERMINE A REASONABLE RANGE OF COMPENSATION FOR KEY EMPLOYEES (IF ANY).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FOLLOWING ORGANIZATIONAL DOCUMENTS ARE AVAILABLE (FOR INSPECTION OR COPYING) AT THE ORGANIZATION'S MAIN OFFICE DURING NORMAL BUSINESS HOURS AT NO CHARGE: -TAX EXEMPTION APPLICATION (FORM 1023) -INTERNAL REVENUE SERVICE DETERMINATION LETTER -ARTICLES OF INCORPORATION -BY-LAWS THE PUBLIC INSPECTION COPY OF THE ORGANIZATION'S FORM 990 AND FORM 990-T, FROM THE PREVIOUS THREE YEARS (AT A MINIMUM), WILL BE AVAILABLE (FOR INSPECTION OR COPYING) AT THE ORGANIZATION'S MAIN OFFICE DURING NORMAL BUSINESS HOURS AT NO CHARGE, IF APPLICABLE. THE PUBLIC INSPECTION COPY OF THE FORM 990 WILL NOT INCLUDE THE SCHEDULE OF SCHEDULE A EXCESS CONTRIBUTORS OR THE SCHEDULE B NAMES AND ADDRESSES OF CONTRIBUTORS. THE ORGANIZATION WILL MAKE BEST EFFORTS TO ENSURE THAT THE FORMS 990 AND 990-T HELD AT THEIR MAIN OFFICE ARE THE MOST UPDATED VERSIONS OF SUCH. FOR EXAMPLE, IN THE INSTANCE WHERE A FORM 990 HAS BEEN AMENDED, THE AMENDED VERSION OF THE FORM 990 OR FORM 990-T WILL BE THE ONE AVAILABLE FOR PUBLIC INSPECTION. WHEN RESPONDING TO A PUBLIC INSPECTION REQUEST FOR ANY ORGANIZATIONAL DOCUMENT OR FORM 990 (INCLUDING FORM 990-T) BY ANYONE, THE ORGANIZATION FULFILLS SUCH REQUEST IN A TIMELY FASHION WITHOUT INQUIRING AS TO THE REASON FOR THE PUBLIC INSPECTION REQUEST. THE FOLLOWING OTHER DOCUMENT (MOST UPDATED VERSIONS) IS MADE AVAILABLE FOR INSPECTION OR COPYING) AT THE ORGANIZATION'S MAIN OFFICE DURING NORMAL BUSINESS HOURS AT NO CHARGE: -CONFLICT OF INTEREST POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OUTSIDE SERVICES -OTHER 2,264 0 0 APP CREATION SERVICE FEES 8,675 0 0 CURRICULUM CREATION FEES 1,000 0 0 VIDEO CREATION 5,376 0 0 TOTAL 17,315 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt09995
IRS990/TotalAssetsEOYAmt072073
IRS990/TotalAssetsGrp/BOYAmt09995
IRS990/TotalAssetsGrp/EOYAmt072073
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IRS990/TotalContributionsAmt0222100
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt032029
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09032
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0118961
IRS990/TotalFunctionalExpensesGrp/TotalAmt0160022
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09995
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt072073
IRS990/TotalProgramServiceExpensesAmt0118961
IRS990/TotalReportableCompFromOrgAmt082500
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0222100
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09995
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt072073
IRS990/TravelGrp/ProgramServicesAmt01360
IRS990/TravelGrp/TotalAmt01360
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02589 GLORIA WAY
IRS990/USAddress/CityNm0EAST PALO ALTO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094303
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.AMBITIONANGELS.ORG
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0OLAREMI SOBOMEHIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum05038035569
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AMBITION ANGELS
ReturnHeader/Filer/BusinessNameControlTxt0AMBI
ReturnHeader/Filer/EIN0872513010
ReturnHeader/Filer/PhoneNum05038035569
ReturnHeader/Filer/USAddress/AddressLine1Txt02589 GLORIA WAY
ReturnHeader/Filer/USAddress/CityNm0EAST PALO ALTO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094303
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SOZO CONSULTING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0121 RUGOSA DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FOLSOM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd095630
ReturnHeader/PreparerPersonGrp/PhoneNum06509067272
ReturnHeader/PreparerPersonGrp/PreparationDt02023-07-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSHUA M CANTWELL
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-07-19T12:44:02-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0OLAREMI
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SOBEMEHIN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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