Civic Intelligence

The Fab Foundation

990 • Fiscal year 2014 • EIN 26-4836002

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 10, 2015

50 Milk St 16th FloorBoston, MA 02109

(857) 333-7777

Siviq Scores

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

Liabilities / Assets

28th percentile

0.07x

Higher debt load relative to assets than 28% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

63rd percentile

0.43x

Higher debt load relative to revenue than 63% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

11th percentile

-16%

Higher net margin than 11% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

16th percentile

$75,976

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

42nd percentile

1.4%

Faster asset growth than 42% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

1st percentile

-85%

Faster revenue growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Up

$10,703,875

Up $148,671 (+1.4%) from 2013

Net Assets

Down

$10,001,318

Down $299,631 (-2.9%) from 2013

Liabilities

Up

$702,557

Up $448,302 (+176%) from 2013

Revenue

Down

$1,632,548

Down $9,448,182 (-85%) from 2013

Expenses

Up

$1,893,947

Up $1,186,942 (+168%) from 2013

Net Income

Down

-$261,399

Down $10,635,124 (-103%) from 2013

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $161,506Liabilities 2012: $144,282Net Assets 2012: $17,2242012Assets 2013: $10,555,204Liabilities 2013: $254,255Net Assets 2013: $10,300,9492013Assets 2014: $10,703,875Liabilities 2014: $702,557Net Assets 2014: $10,001,3182014Assets 2015: $8,589,130Liabilities 2015: $1,231,747Net Assets 2015: $7,357,3832015Assets 2016: $7,577,939Liabilities 2016: $1,036,368Net Assets 2016: $6,541,5712016Assets 2017: $4,504,808Liabilities 2017: $1,034,710Net Assets 2017: $3,470,0982017Assets 2018: $3,798,420Liabilities 2018: $1,023,501Net Assets 2018: $2,774,9192018Assets 2019: $3,324,565Liabilities 2019: $799,396Net Assets 2019: $2,525,1692019Assets 2020: $3,585,576Liabilities 2020: $1,058,702Net Assets 2020: $2,526,8742020Assets 2021: $3,602,930Liabilities 2021: $662,690Net Assets 2021: $2,940,2402021Assets 2022: $3,453,460Liabilities 2022: $1,487,679Net Assets 2022: $1,965,7812022Assets 2023: $1,634,179Liabilities 2023: $707,940Net Assets 2023: $926,2392023Assets 2024: $4,370,179Liabilities 2024: $2,336,002Net Assets 2024: $2,034,1772024

Highlighted filing

2014

Assets$10,703,875
Liabilities$702,557
Net Assets$10,001,318

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2012: $349,6122012Revenue 2013: $11,080,730Expenses 2013: $707,005Net Income 2013: $10,373,7252013Revenue 2014: $1,632,548Expenses 2014: $1,893,947Net Income 2014: -$261,3992014Revenue 2015: $4,808,050Expenses 2015: $7,445,085Net Income 2015: -$2,637,0352015Revenue 2016: $7,026,514Expenses 2016: $7,819,511Net Income 2016: -$792,9972016Revenue 2017: $3,676,113Expenses 2017: $6,739,538Net Income 2017: -$3,063,4252017Revenue 2018: $4,662,636Expenses 2018: $5,351,096Net Income 2018: -$688,4602018Revenue 2019: $3,606,528Expenses 2019: $3,851,392Net Income 2019: -$244,8642019Revenue 2020: $4,362,728Expenses 2020: $4,359,956Net Income 2020: $2,7722020Revenue 2021: $3,603,989Expenses 2021: $3,187,148Net Income 2021: $416,8412021Revenue 2022: $2,649,329Expenses 2022: $3,735,780Net Income 2022: -$1,086,4512022Revenue 2023: $2,206,847Expenses 2023: $3,241,875Net Income 2023: -$1,035,0282023Revenue 2024: $6,495,763Expenses 2024: $5,385,435Net Income 2024: $1,110,3282024

Highlighted filing

2014

Revenue$1,632,548
Expenses$1,893,947
Net Income-$261,399
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 10, 2015
Return Version
2014v5.0
Gross Receipts
$2,388,030
Mission and Program Overview

Mission

The fab foundation was formed february 6, 2009 to facilitate and support the growth of the international fab lab network. The fab foundation is a us non-profit 501(c)(3) organization emerging from the massachusetts institute of technology's center for bits & atoms' (cba) international fab lab outreach program. Our mission is to provide access to the tools, the knowledge and the financial means to educate, innovate and invent using technology and digital fabrication to allow anyone to make (almost) anything, and thereby creating opportunities to improve lives and livelihoods around the world. Community organizations, educational institutions and non-profit concerns are our primary beneficiaries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,102,755$5,192,243▲ $1,089,488
Pledges and Grants Receivable$5,914,000$3,102,343▼ $2,811,657
Investments in Publicly Traded Securities-$1,137,320-
Land, Buildings, and Equipment, Net$432,595$623,376▲ $190,781
Savings and Temporary Cash Investments-$362,040-
Accounts Receivable$104,969$259,444▲ $154,475
Prepaid Expenses and Deferred Charges$885$27,109▲ $26,224
Total Assets$10,555,204$10,703,875▲ $148,671
Liabilities
Deferred Revenue$151,569$441,720▲ $290,151
Accounts Payable and Accrued Expenses$102,686$260,837▲ $158,151
Total Liabilities$254,255$702,557▲ $448,302
Net Assets / Fund Balance
Temporarily Rstr Net Assets$9,900,082$9,548,279▼ $351,803
Unrestricted Net Assets$400,867$453,039▲ $52,172
Total Net Assets Fund Balance$10,300,949$10,001,318▼ $299,631
Total Liabilities and Net Assets / Fund Balance$10,555,204$10,703,875▲ $148,671

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$623,376$176,078$799,454

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$9,900,082$630,716-$948,803$9,548,279
2013-$10,065,988-$165,906$9,900,082
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherry LassiterTreasurer/clerk/directorPT$37,988$37,988$75,976
Neil GershenfeldDirector-$46,166-$46,166

Board Members and Trustees

NameTitle
Stuart GannesPresident/director
Chris WilkinsonDirector
Simone Abouhab AmberDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$952,362
Program Service Revenue
$644,156
Investment Income
$36,030
Other Revenue
$0
All Other Contributions
$950,019
Change in Net Assets
$-261,399

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$318,793Retail Value
Total Noncash Contributions1$318,793-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,632,548
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-31,982
Total Revenue per Audited Statements
$1,600,566
Total Revenue per Form 990
$1,632,548
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,738,853
Salaries, Compensation, and Employee Benefits$121,378
Grants and Similar Amounts Paid$33,716
Total Fundraising Expense$4,148
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$936,440$1,734-$938,174
Fees for Services Other$396,803$14,460-$411,263
Depreciation Depletion$128,012--$128,012
Travel$87,506$15,515-$103,021
Other Salaries and Wages$45,635$25,052$2,501$73,188
Fees for Services Accounting-$45,632-$45,632
Office Expenses$4,542$35,771-$40,313
Current Officers, Directors, Trustees, and Key Employees$23,685$13,004$1,298$37,987
Grants to Domestic Orgs$30,716--$30,716
Conferences and Meetings$26,527$389-$26,916
Occupancy-$16,656-$16,656
Fees for Services Legal-$15,215-$15,215
Insurance-$13,651-$13,651
Payroll Taxes$6,362$3,492$349$10,203
Foreign Grants$3,000--$3,000
Total Functional Expenses$1,689,228$200,571$4,148$1,893,947

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,900,197
Expenses per Audited Statements$1,893,947
Total Expenses per Form 990$1,893,947
Expenses Not Reported on Form 990$6,250
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fab Lab HubTyron, NCN/aFab Lab Hub$18,716
Welldone InternationalWest Hills, CA501(c)(3)Expenditures for Foreign Contracts$10,000

International Summary

Offices
0
Employees
0
Spending
$422,712

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-saharan Africa - Angola, Benin, Botswana, Burkina, Faso,Program ServicesPurchase and Installation of a Fab Lab00$274,698
South AmericaProgram ServicesPurchase and Installation of a Fab Lab00$122,189
Europe (including Iceland & Greenland)Program ServicesPurchase and Installation of a Fab Lab00$22,825
Sub-saharan AfricaGrants to Recipients Located in RegionN/a00$3,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 4

The board membership terms and staggered terms were changed in order to insure ongoing institutional memory and management.

Form 990, Part VI, Section B, Line 11

The president and treasurer of the organization review form 990 prior to filing.

Form 990, Part VI, Section B, Line 12C

Each officer and board member signs an annual coi statement disclosing any potential conflicts of interest. It is also their ongoing duty to report any potential conflicts of interest that may occur during the year to the board.

Form 990, Part VI, Section C, Line 19

Governing documents and financial statements are available on the website: http://www.fabfoundation.org/about-us/ as well as upon request. Our conflict of interest policy is available upon request and will be added to the online documentation shortly.

Form 990, Part VI, Section A, Line 1B-independent Director

At december 31, 2013, the organization accrued $46,166 that was owed to neil gershenfeld, a board member, for his services at the fab academy. Since the fees were not actually paid until 2014, neil was not considered an independent board member in 2014. His compensation was included on part vii of the form 990 but not on part ix, line 5 since this amount was accrued at december 31, 2013 and included in the functional expenses for that year. He was considered an independent director in 2013 since the fees were only accrued.

Form 990, Part VII

Stuart gannes - 2931 fillmore street, san francisco, ca 94123. Sherry lassiter - 105 waltham street, maynard, ma 01754. Neil gershenfeld - 50 orchard street, cambridge, ma 02140. Simone abouhab amber - 146 columbia heights, brooklyn, ny 11201. Chris wilkinson - 1 pipers lane, heswall, wirral, united kingdom ch60 9hs.

Filing and Contact Details

Filer

Filer Name
The Fab Foundation
EIN
26-4836002
Phone
8573337777
Address
50 MILK ST 16TH FLOOR, BOSTON, MA 02109
Doing Business As
Fab Academy

Signing Officer

Name
Sherry Lassiter
Title
Treasurer
Phone
8573337777
Signed
2015-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stuart Gannes
Formed
2009
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
3
Employees
5
Volunteers
225

Preparer

Firm
Edelstein and Company Llp
Address
160 FEDERAL STREET 9TH FLOOR, BOSTON, MA 02110
Preparer
Alfonso Perillo
Phone
6172276161
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Mentoring & support: program service expenses 361,539. Management and general expenses 0. Fundraising expenses 0. Total expenses 361,539. Marketing consultant: program service expenses 24,788. Management and general expenses 14,460. Fundraising expenses 0. Total expenses 39,248. Product consulting: program service expenses 10,476. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,476.

FORM 990, PART XI, LINE 9:

Loss on uncollectible receivables -6,250.

Form 990, Part I, Line 6 - Volunteers

The volunteers provide time and expertise to the fab foundation, in developing education content, strategic outreach in education and entrepreneurship, fundrasing, and assistance with orgainizing and running fab lab community events like the annual gathering fabx each year, or local events for community.

Financial Statement Notes

PART V, LINE 4:

At december 31, 2014 temporarily restricted net assets consisted of the following: procurement of fab labs $9,451,059 development of fab ed project $ 47,220 fab 11 conference $ 50,000 total temp. Restricted $9,548,279

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on uncollectible receivables 6,250.

Raw XML AppendixShowing 400 of 498 raw XML fields

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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IRS990/ActivityOrMissionDesc0THE FAB FOUNDATION WAS FORMED FEBRUARY 6, 2009 TO FACILITATE AND SUPPORT THE GROWTH OF THE INTERNATIONAL FAB LAB NETWORK. THE FAB FOUNDATION IS A US NON-PROFIT 501(C)(3) ORGANIZATION EMERGING FROM THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S CENTER FOR BITS & ATOMS' (CBA) INTERNATIONAL FAB LAB OUTREACH PROGRAM. OUR MISSION IS TO PROVIDE ACCESS TO THE TOOLS, THE KNOWLEDGE AND THE FINANCIAL MEANS TO EDUCATE, INNOVATE AND INVENT USING TECHNOLOGY AND DIGITAL FABRICATION TO ALLOW ANYONE TO MAKE (ALMOST) ANYTHING, AND THEREBY CREATING OPPORTUNITIES TO IMPROVE LIVES AND LIVELIHOODS AROUND THE WORLD. COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND NON-PROFIT CONCERNS ARE OUR PRIMARY BENEFICIARIES.
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt0623376
IRS990/LandBldgEquipCostOrOtherBssAmt0799454
IRS990/LegalDomicileStateCd0CA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0755482
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE FAB FOUNDATION WAS FORMED FEBRUARY 6, 2009 TO FACILITATE AND SUPPORT THE GROWTH OF THE INTERNATIONAL FAB LAB NETWORK. THE FAB FOUNDATION IS A US NON-PROFIT 501(C)(3) ORGANIZATION EMERGING FROM THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S CENTER FOR BITS & ATOMS' (CBA) INTERNATIONAL FAB LAB OUTREACH PROGRAM. OUR MISSION IS TO PROVIDE ACCESS TO THE TOOLS, THE KNOWLEDGE AND THE FINANCIAL MEANS TO EDUCATE, INNOVATE AND INVENT USING TECHNOLOGY AND DIGITAL FABRICATION TO ALLOW ANYONE TO MAKE (ALMOST) ANYTHING, AND THEREBY CREATING OPPORTUNITIES TO IMPROVE LIVES AND LIVELIHOODS AROUND THE WORLD. COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND NON-PROFIT CONCERNS ARE OUR PRIMARY BENEFICIARIES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt010300949
IRS990/NetAssetsOrFundBalancesEOYAmt010001318
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt012
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt012
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-31982
IRS990/NoncashContributionsAmt0318793
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt016656
IRS990/OccupancyGrp/TotalAmt016656
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt035771
IRS990/OfficeExpensesGrp/ProgramServicesAmt04542
IRS990/OfficeExpensesGrp/TotalAmt040313
IRS990/OfficerMailingAddressInd01
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt0-6250
IRS990/OtherExpensesGrp/Desc0LAB COMPONENTS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01734
IRS990/OtherExpensesGrp/ProgramServicesAmt0936440
IRS990/OtherExpensesGrp/TotalAmt0938174
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt02501
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt025052
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt045635
IRS990/OtherSalariesAndWagesGrp/TotalAmt073188
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0349
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03492
IRS990/PayrollTaxesGrp/ProgramServicesAmt06362
IRS990/PayrollTaxesGrp/TotalAmt010203
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt05914000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt03102343
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0885
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt027109
IRS990/PrincipalOfficerNm0STUART GANNES
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541700
IRS990/ProgramServiceRevenueGrp/BusinessCd1611430
IRS990/ProgramServiceRevenueGrp/Desc0CONTRACTS
IRS990/ProgramServiceRevenueGrp/Desc1TUITION
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0533183
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1110973
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0533183
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1110973
IRS990/ProgSrvcAccomActy2Grp/Desc0THE FAB ACADEMY PROVIDES INSTRUCTION AND SUPERVISES INVESTIGATION OF MECHANISMS, APPLICATIONS, AND IMPLICATIONS OF DIGITAL FABRICATION. JUST AS COMMUNICATIONS AND COMPUTATION WENT FROM ANALOG TO DIGITAL, RESULTING IN PCS AND THE INTERNET, THE DIGITIZATION OF FABRICATION IS LEADING TO PERSONAL FABRICATORS THAT WILL ALLOW ANYONE TO MAKE ALMOST ANYTHING, ANYWHERE. THE DEVELOPMENT OF DIGITAL FABRICATION IS BASED ON CREATING CODES THAT DON'T JUST DESCRIBE THINGS, THEY ARE THINGS, MUCH AS PROTEINS ARE CODED IN MOLECULAR BIOLOGY. THIS RESEARCH ROADMAP IS ULTIMATELY AIMING AT A STAR TREK-STYLE REPLICATOR, BUT PROTOTYPE VERSIONS OF THESE CAPABILITIES ARE ALREADY AVAILABLE IN FIELD FAB LABS. THE FAB ACADEMY OFFERS CERTIFICATES ON RELEVANT TECHNICAL TOPICS, AND A DIPLOMA AIMED AT VOCATIONAL AND TECHNICAL TRAINING FOR EMPLOYMENT AND INVESTMENT (ALONG WITH ASSISTANCE TO ITS GRADUATES IN THOSE AREAS). THESE ARE ACCREDITED BY THE FAB ACADEMY; IT IS ANTICIPATED THAT THEY WILL BY FOLLOWED BY A BACHELOR'S DEGREE TO BE OFFERED UNDER APPLICABLE REGIONAL ACCREDITATION, ALONG WITH POST-GRADUATE STUDY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0241488
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0110973
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt010636749
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt02748
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0692878
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0443981
IRS990/PYRevenuesLessExpensesAmt010373725
IRS990/PYSalariesCompEmpBnftPaidAmt011379
IRS990/PYTotalExpensesAmt0707005
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt011080730
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-261399
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0533183
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0362040
IRS990ScheduleA/FactsAndCircumstancesTestTxt0FACTORS SUPPORTING THE ORGANIZATION'S USE OF THE FACTS AND CIRCUMSTANCES TEST TO QUALIFY AS PUBLICLY SUPPORTED IS AS FOLLOWS:1) THE FAB FOUNDATION SOLICITS CONTRIBUTIONS FROM THE GENERAL PUBLIC, COMMUNITY AND GOVERNMENTAL UNITS VIA ITS WEBSITE, NEWSLETTER, CORPORATE SOLICITATIONS AND GRANT PROPOSALS. IN 2014, THE ORGANIZATION RECEIVED A GRANT FROM THE FEDERAL GOVERNMENT FOR $2.8 MILLION TO FUND THE DEVELOPMENT OF NEW TEACHING AND LEARNING STRATEGIES, BASED ON FAB ACADEMY, BY SCALING AND DISTRIBUTING TECHNICAL EDUCATION TO DIVERSE AND GEOGRAPHICALLY ISOLATED LEARNERS WORLDWIDE. IT IS ANTICIPATED THAT SUPPORT FROM THIS FEDERAL GRANT WILL RESULT IN THE FAB FOUNDATION PASSING THE SUPPORT TEST IN 2015. THE ORGANIZATION SEEKS TO CONTINUE RAISING A BROAD BASE OF SUPPORT IN ORDER TO PASS THE SUPPORT TEST IN SUBSEQUENT YEARS.2) EACH YEAR CORPORATE SPONSORS MAKE CONTRIBUTIONS FOR THE ANNUAL FAB CONFERENCE WHICH PROVIDES A GATHERING FOR THE FAB LAB COMMUNITY TO SHARE INFORMATION AND KNOWLEDGE. DONATIONS OF VIDEO EQUIPMENT HAVE BEEN RECEIVED THAT ARE USED TO BROADCAST THE FAB ACADEMY ALL OVER THE WORLD TO STUDENTS WHO LEARN THE SKILLS AND KNOWLEDGE OF DIGITAL FABRICATION. A LARGE CORPORATE GRANT IS BEING USED TO BUILD FAB LABS THROUGHOUT THE COUNTRY AND TO PROVIDE TEACHER PROFESSIONAL TRAINING FOR STEM (SCIENCE, TECHNOLOGY, EDUCATION AND MATH) - RELATED ACTIVITIES. ALTHOUGH FAB FOUNDATION MAY RECEIVE LARGE CORPORATE GIFTS, THESE DONATIONS ALLOW THE ORGANIZATION TO REACH A BROADER CONSTITUENT BASE, BOTH IN THE US AND GLOBALLY. 3) THE BOARD OF DIRECTORS CONSIST OF INDIVIDUALS WHO REPRESENT A BROAD ARRAY OF BACKGROUNDS INCLUDING THE FIELDS OF SCIENCE, EDUCATION AND RESEARCH. IN ADDITION, FAB FOUNDATION IS ACTIVELY SEEKING TO EXPAND ITS BOARD OF DIRECTORS TO REPRESENT AN EVEN BROADER CONSTITUENCY WHO WILL BENEFIT FROM THE ORGANIZATION'S PROGRAMS. 4) ONCE THE FAB LABS BECOME OPERATIONAL, THEY ARE AVAILABLE TO A WIDE RANGE OF STUDENTS, SCIENTISTS, ENGINEERS AND INNOVATORS WHO HAVE ACCESS TO THIS MODERN MEANS OF INVENTION. TO DATE, THE ORGANIZATION HAS DEVELOPED OR IS IN THE PROCESS OF DEVELOPING 18 FAB LABS IN THE US AND INTERNATIONALLY. 5) ANNUALLY, THE FAB FOUNDATION GATHERS MEMBERS OF THE FAB LAB COMMUNITY (COMPRISING MORE THAN 450 LABS IN 55 COUNTRIES) IN BOSTON TO EXPLORE THE PRINCIPLES, APPLICATIONS AND IMPLICATIONS OF DIGITAL FABRICATION. AS INDICATED IN NOTE 2, THE FAB ACADEMY HAS A GLOBAL OUTREACH THAT FOSTERS SCIENTIFIC INNOVATION AND EDUCATION.
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0952362
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0636749
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt063005
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt05074
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01657190
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt036018
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt036018
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01395714
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.23860
IRS990ScheduleA/PublicSupportTotal170Amt0404068
IRS990ScheduleA/SubstantialContributorsTotAmt01253122
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0952362
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0636749
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt063005
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt05074
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01657190
IRS990ScheduleA/TotalSupportAmt01693208
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt09900082
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0630716
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt09548279
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt033716
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0948803
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt010065988
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt09900082
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0165906
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0623376
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0176078
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0799454
IRS990ScheduleD/ExpensesNotReportedAmt06250
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01893947
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-31982
IRS990ScheduleD/OtherExpensesIncludedAmt06250
IRS990ScheduleD/RevenueNotReportedAmt0-31982
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01632548
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AT DECEMBER 31, 2014 TEMPORARILY RESTRICTED NET ASSETS CONSISTED OF THE FOLLOWING: PROCUREMENT OF FAB LABS $9,451,059 DEVELOPMENT OF FAB ED PROJECT $ 47,220 FAB 11 CONFERENCE $ 50,000 TOTAL TEMP. RESTRICTED $9,548,279
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON UNCOLLECTIBLE RECEIVABLES 6,250.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0623376
IRS990ScheduleD/TotalExpensesPerForm990Amt01893947
IRS990ScheduleD/TotalRevenuePerForm990Amt01632548
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01600566
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01900197
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt20
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt30
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt20
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt30
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0122189
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt1274698
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt222825
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt33000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0SOUTH AMERICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA, FASO,
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2EUROPE (INCLUDING ICELAND & GREENLAND)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3SUB-SAHARAN AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0PURCHASE AND INSTALLATION OF A FAB LAB
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1PURCHASE AND INSTALLATION OF A FAB LAB
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2PURCHASE AND INSTALLATION OF A FAB LAB
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt3N/A
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3GRANTS TO RECIPIENTS LOCATED IN REGION
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinutationTotalEmployeeCnt00
IRS990ScheduleF/ContinutationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt0422712
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0EXPENDITURES ARE ACCOUNTED FOR ON THE ACCRUAL BASIS USED FOR FINANCIAL STATEMENT PURPOSES.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3:
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt0422712
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/CashGrantAmt118716
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0EXPENDITURES FOR FOREIGN CONTRACTS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1FAB LAB HUB
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0WELLDONE INTERNATIONAL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1FAB LAB HUB
IRS990ScheduleI/RecipientTable/RecipientEIN0271662243
IRS990ScheduleI/RecipientTable/RecipientEIN1475359614
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt023020 HAMLIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1302 HARMON FIELD RD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WEST HILLS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1TYRON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd091307
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd128782
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc1N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTEES ARE REQUIRED TO MAKE PERIODIC REPORTS TO ENSURE THAN ANY FUNDS OR OTHER ASSISTANCE RECEIVED ARE USED FOR THE INTENDED PURPOSE(S) OF THE GRANT ONLY. THE BOARD OF DIRECTORS SHALL REVIEW ALL REPORTS FROM THE GRANT RECIPIENT, AND SOLICIT AND ANALYZE ANY OTHER INFORMATION THAT IS DEEMED NECESSARY AND PRUDENT,INCLUDING REVIEWING THE RECIPIENT'S OTHER RECORDS AND/OR PERFORMING ON-SITE VISITS WITH THE RECIPIENT(S), TO ENSURE THAT ALL GRANT FUNDS ARE BEING USED FOR THE INTENDED PURPOSE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0VIDEOCONFERENCING EQUIPMENT
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0RETAIL VALUE
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0318793
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD MEMBERSHIP TERMS AND STAGGERED TERMS WERE CHANGED IN ORDER TO INSURE ONGOING INSTITUTIONAL MEMORY AND MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT AND TREASURER OF THE ORGANIZATION REVIEW FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH OFFICER AND BOARD MEMBER SIGNS AN ANNUAL COI STATEMENT DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. IT IS ALSO THEIR ONGOING DUTY TO REPORT ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY OCCUR DURING THE YEAR TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE: HTTP://WWW.FABFOUNDATION.ORG/ABOUT-US/ AS WELL AS UPON REQUEST. OUR CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST AND WILL BE ADDED TO THE ONLINE DOCUMENTATION SHORTLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AT DECEMBER 31, 2013, THE ORGANIZATION ACCRUED $46,166 THAT WAS OWED TO NEIL GERSHENFELD, A BOARD MEMBER, FOR HIS SERVICES AT THE FAB ACADEMY. SINCE THE FEES WERE NOT ACTUALLY PAID UNTIL 2014, NEIL WAS NOT CONSIDERED AN INDEPENDENT BOARD MEMBER IN 2014. HIS COMPENSATION WAS INCLUDED ON PART VII OF THE FORM 990 BUT NOT ON PART IX, LINE 5 SINCE THIS AMOUNT WAS ACCRUED AT DECEMBER 31, 2013 AND INCLUDED IN THE FUNCTIONAL EXPENSES FOR THAT YEAR. HE WAS CONSIDERED AN INDEPENDENT DIRECTOR IN 2013 SINCE THE FEES WERE ONLY ACCRUED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5STUART GANNES - 2931 FILLMORE STREET, SAN FRANCISCO, CA 94123. SHERRY LASSITER - 105 WALTHAM STREET, MAYNARD, MA 01754. NEIL GERSHENFELD - 50 ORCHARD STREET, CAMBRIDGE, MA 02140. SIMONE ABOUHAB AMBER - 146 COLUMBIA HEIGHTS, BROOKLYN, NY 11201. CHRIS WILKINSON - 1 PIPERS LANE, HESWALL, WIRRAL, UNITED KINGDOM CH60 9HS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MENTORING & SUPPORT: PROGRAM SERVICE EXPENSES 361,539. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 361,539. MARKETING CONSULTANT: PROGRAM SERVICE EXPENSES 24,788. MANAGEMENT AND GENERAL EXPENSES 14,460. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 39,248. PRODUCT CONSULTING: PROGRAM SERVICE EXPENSES 10,476. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,476.

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