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Alright psp339, here you have an option to make. Decide to fix it or scrap it for parts. Based on the information giving, specially about the mobo, my advise is to scrap the old one and replace it with a new one. About the power board, check the resistors to the leds, bridge if necessary, or the factory led to see if they're functional. PS: Do your self a favor and ask your friend to tell you the truth about what really happened to the psp. The picture of the mobo looks to clean and shows no sign of water damage.
Nice! I just buy psps for cheap off my friends because they have no clue how much they're worth. Some guy with a psp that fully works except for mobo is willing to sell it for 30. Some guy sold me a perfectly working one to me for 80. Note that these are psp-2000s too XD