Civic Intelligence

Greentownlabsorg Inc

990 • Fiscal year 2019 • EIN 45-4788246

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

Organization ProfileFORGEMASS.ORG
444 Somerville AveSomerville, MA 02143

(888) 954-6836

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

50th percentile

3.2%

Higher net margin than 50% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

98th percentile

$114,414

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 30.6% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

54th percentile

4.3%

Faster asset growth than 54% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

23rd percentile

-21%

Faster revenue growth than 23% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$289,407

Up $11,813 (+4.3%) from 2018

Net Assets

Up

$289,407

Up $11,813 (+4.3%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin50th percentile

Revenue

Down

$374,357

Down $98,994 (-21%) from 2018

Expenses

Up

$362,544

Up $145,519 (+67%) from 2018

Net Income

Down

$11,813

Down $244,513 (-95%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$800K$600K$400K$200K$0Assets 2013: $88,568Liabilities 2013: $24,848Net Assets 2013: $63,7202013Assets 2014: $83,942Liabilities 2014: $24,848Net Assets 2014: $59,0942014Assets 2015: $92,862Liabilities 2015: $02015Assets 2017: $21,268Liabilities 2017: $0Net Assets 2017: $21,2682017Assets 2018: $277,594Liabilities 2018: $0Net Assets 2018: $277,5942018Assets 2019: $289,407Liabilities 2019: $0Net Assets 2019: $289,4072019Assets 2020: $294,824Liabilities 2020: $77,498Net Assets 2020: $217,3262020Assets 2021: $601,500Liabilities 2021: $54,341Net Assets 2021: $547,1592021Assets 2022: $636,558Liabilities 2022: $341,644Net Assets 2022: $294,9142022Assets 2023: $480,101Liabilities 2023: $199,100Net Assets 2023: $281,0012023Assets 2024: $574,963Liabilities 2024: $390,949Net Assets 2024: $184,0142024

Highlighted filing

2019

Assets$289,407
Liabilities$0
Net Assets$289,407
Open 2019 Filing

Operations Trend

Revenue Growth23rd percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2013: $285,600Expenses 2013: $230,544Net Income 2013: $55,0562013Revenue 2014: $0Expenses 2014: $4,626Net Income 2014: -$4,6262014Revenue 2015: $64,956Expenses 2015: $16,040Net Income 2015: $48,9162015Revenue 2017: $136,351Expenses 2017: $228,525Net Income 2017: -$92,1742017Revenue 2018: $473,351Expenses 2018: $217,025Net Income 2018: $256,3262018Revenue 2019: $374,357Expenses 2019: $362,544Net Income 2019: $11,8132019Revenue 2020: $311,636Expenses 2020: $474,461Net Income 2020: -$162,8252020Revenue 2021: $919,928Expenses 2021: $590,095Net Income 2021: $329,8332021Revenue 2022: $939,250Expenses 2022: $1,191,495Net Income 2022: -$252,2452022Revenue 2023: $1,628,406Expenses 2023: $1,571,798Net Income 2023: $56,6082023Revenue 2024: $1,634,557Expenses 2024: $1,731,544Net Income 2024: -$96,9872024

Highlighted filing

2019

Revenue$374,357
Expenses$362,544
Net Income$11,813
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$374,357
Mission and Program Overview

Mission

To help startups with physical products on the journey from prototype to impact at commercial scale.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$277,594$289,407▲ $11,813
Total Assets$277,594$289,407▲ $11,813
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$277,594$289,407▲ $11,813
Total Net Assets Fund Balance$277,594$289,407▲ $11,813
Total Liabilities and Net Assets / Fund Balance$277,594$289,407▲ $11,813
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Laura TeicherPresident/executive DirectFT$104,979$9,435$114,414

Board Members and Trustees

NameTitle
Emily ReichertChair(as of 11/19)/Director (full Year)
Joseph SteigChair(til 10/19)/director(full Year)
Rodney DowellClerk(as of 11/19)/Director (full Year)
Joseph RifeClerk(til 10/19)/director(full Year)
Bobbie CarltonDirector (appointed 11/19)
Dana CordovaDirector (appointed 11/19)
Ira MoskowitzDirector (resigned 11/19)
Peter RussoDirector (resigned 11/19)
Tod HynesDirector (resigned 11/19)
Sj MaxtedTreas.(as of 11/19)/Director (full Year)
Revenue and Support

Revenue Composition

Contributions and Grants
$374,357
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$152,513
Change in Net Assets
$11,813
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$253,008
Other Expenses$94,536
Total Fundraising Expense$29,749
Grants and Similar Amounts Paid$15,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$58,721$27,846$27,847$114,414
Other Salaries and Wages$58,266$54,344-$112,610
Fees for Services Other$55,716$7,937-$63,653
Payroll Taxes$10,977$6,935$1,902$19,814
Grants to Domestic Orgs$15,000--$15,000
Travel$11,841$589-$12,430
Fees for Services Accounting-$8,404-$8,404
Other Employee Benefits$2,880$3,290-$6,170
Advertising$5,467--$5,467
Occupancy$1,825--$1,825
Insurance$757$172-$929
Office Expenses$426$469-$895
Information Technology$184$374-$558
Other Expenses$357$18-$18
Total Functional Expenses$222,417$110,378$29,749$362,544
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Liftwave Inc Dba Rise RoboticsSomerville, MAFor ProfitAwarded to Startups to Solve Discrete Product Development Challenges$10,000
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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

“During 2019, the organization amended its by-laws to update the allowable number of board members, added language around the role of the board chair and recognized the organization's new "doing business as" name, forge.”

Form 990, Part VI, Section B, Line 11B

“The executive director will review the draft of the 990 and share it with the finance committee of the board of directors before it is filed.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Greentownorg Inc
EIN
45-4788246
Phone
8889546836
Address
444 SOMERVILLE AVE, SOMERVILLE, MA 02143
Doing Business As
Forge

Signing Officer

Name
Laura Teicher
Title
Executive Director
Phone
8889546836
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Teicher
Formed
2011
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
6
Volunteers
11

Preparer

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

Additional Explanations

Form 990, Part IX, Line 11G

“Payroll processing fees: program service expenses 4,208. Management and general expenses 4,021. Fundraising expenses 0. Total expenses 8,229. Consulting fees: program service expenses 51,508. Management and general expenses 3,916. Fundraising expenses 0. Total expenses 55,424.”

Raw XML AppendixShowing 400 of 413 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION RECEIVED AN IRS DETERMINATION LETTER DATED MAY 23, 2016 WHICH GRANTED THEM TAX-EXEMPTION UNDER 501(C)(3) WITH AN EFFECTIVE DATE OF DECEMBER 15, 2015. PREVIOUS TO THIS LETTER, THE ORGANIZATION OPERATED AS A 501(C)(4). THEREFORE, THE ORGANIZATION'S 2015 TAX YEAR IS A SHORT YEAR FOR PUBLIC SUPPORT PURPOSES (DECEMBER 15, 2015 - DECEMBER 31, 2015).
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0FORM 990 SCHEDULE A - PUBLIC SUPPORT SHORT YEAR
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0374357
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0389901
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0136351
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt050000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0950609
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt00
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02816
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt083450
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0758747
IRS990ScheduleA/SubstantialContributorsTotAmt0191862
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0374357
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0389901
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0136351
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt050000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0950609
IRS990ScheduleA/TotalSupportAmt0953425
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
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0FOR PROFIT
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0AWARDED TO STARTUPS TO SOLVE DISCRETE PRODUCT DEVELOPMENT CHALLENGES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0LIFTWAVE INC DBA RISE ROBOTICS
IRS990ScheduleI/RecipientTable/RecipientEIN0274597232
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt028 DANE STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0SOMERVILLE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002143
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE GRANTEES PROVIDE UPDATES FOR THE ORGANIZATION'S SUCCESS STORIES, AND THEY REPORT IN AT THE FOLLOWING YEAR'S SHOWCASE
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING 2019, THE ORGANIZATION AMENDED ITS BY-LAWS TO UPDATE THE ALLOWABLE NUMBER OF BOARD MEMBERS, ADDED LANGUAGE AROUND THE ROLE OF THE BOARD CHAIR AND RECOGNIZED THE ORGANIZATION'S NEW "DOING BUSINESS AS" NAME, FORGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR WILL REVIEW THE DRAFT OF THE 990 AND SHARE IT WITH THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PAYROLL PROCESSING FEES: PROGRAM SERVICE EXPENSES 4,208. MANAGEMENT AND GENERAL EXPENSES 4,021. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,229. CONSULTING FEES: PROGRAM SERVICE EXPENSES 51,508. MANAGEMENT AND GENERAL EXPENSES 3,916. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 55,424.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0277594
IRS990/TotalAssetsEOYAmt0289407
IRS990/TotalAssetsGrp/BOYAmt0277594
IRS990/TotalAssetsGrp/EOYAmt0289407
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0374357
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt029749
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0110378
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0222417
IRS990/TotalFunctionalExpensesGrp/TotalAmt0362544
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0277594
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0289407
IRS990/TotalOtherCompensationAmt09435
IRS990/TotalProgramServiceExpensesAmt0222417
IRS990/TotalReportableCompFromOrgAmt0104979
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalVolunteersCnt011
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0589
IRS990/TravelGrp/ProgramServicesAmt011841
IRS990/TravelGrp/TotalAmt012430
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0444 SOMERVILLE AVE
IRS990/USAddress/CityNm0SOMERVILLE
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IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTPS://FORGEMASS.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-16
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$289,407
Liabilities
$0
Net assets
$289,407
Revenue
$374,357
Expenses
$362,544
Net income
$11,813
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.57$0.39$0.18$1.63$1.73$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.20$0.28$1.63$1.57$0.06
2022Detailed filing. Detailed filing data is available for this year.$0.64$0.34$0.29$0.94$1.19$0.25
2021Detailed filing. Detailed filing data is available for this year.$0.60$0.05$0.55$0.92$0.59$0.33
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.08$0.22$0.31$0.47$0.16
2019Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.29$0.37$0.36$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.00$0.28$0.47$0.22$0.26
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.02$0.00$0.02$0.14$0.23$0.09
2015Summary only. Only limited summary data is available for this year.$0.09$0.00$0.06$0.02$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.08$0.02$0.06$0.00$0.00$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.09$0.02$0.06$0.29$0.23$0.06