The Bay Area Community Exchange (BACE) is a Bay Area 501(c)3 nonprofit mutual aid network that was initially fiscally sponsored by the International Society for Ecology and Culture (ISEC) which developed currencies. The Bay Area Community Exchange created a timebank and various members were instrumental in its continued development through 2016. ISEC is now called Local Futures, and under the direction of Executive Director, Steve Gorelick, Local Futures provides BACE with its 501c(3) status. BACE is governed by volunteers who keep the timebank operational. Since 2017, AZ Zaidi and Carl Gorringe have operationally managed and led the BACE Timebank.
Timebanking was started by in 1980 by Edgar Cahn, a professor and lawyer. By valuing services and goods with time instead of dollars, he saw that timebanking would be an effective way to restore community and recognize and reward civic engagement. He began the Time Dollar Institute and today it is known as TimeBanks USA. Timebanks are founded on five core values: asset, redefining work, reciprocity, social networks, and respect.