Civic Intelligence

Massrobotics Inc.

990 • Fiscal year 2017 • EIN 47-1919574

Jan 01, 2017 to Dec 31, 2017 • Filed on May 12, 2018

Organization ProfileWWW.MASSROBOTICS.ORG
12 Channel Street Suite 502Boston, MA 02210

(617) 960-5960

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$282,404

Flat from 2017

Net Assets

Up

$204,139

Up $9,000 (+4.6%) from 2017

Liabilities

Down

$78,265

Down $9,000 (-10%) from 2017

Revenue And Expenses

Revenue

Down

$675,517

Down $130,128 (-16%) from 2017

Expenses

Down

$598,714

Down $134,491 (-18%) from 2017

Net Income

Up

$76,803

Up $4,363 (+6.0%) from 2017

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2015: $10,100Liabilities 2015: $02015Assets 2016: $128,761Liabilities 2016: $6,062Net Assets 2016: $122,6992016Assets 2017: $282,404Liabilities 2017: $78,265Net Assets 2017: $204,1392017Assets 2017: $282,404Liabilities 2017: $87,265Net Assets 2017: $195,1392017Assets 2018: $677,953Liabilities 2018: $116,933Net Assets 2018: $561,0202018Assets 2019: $4,836,926Liabilities 2019: $1,207,405Net Assets 2019: $3,629,5212019Assets 2020: $4,694,861Liabilities 2020: $796,454Net Assets 2020: $3,898,4072020Assets 2021: $5,521,015Liabilities 2021: $827,408Net Assets 2021: $4,693,6072021Assets 2022: $16,518,630Liabilities 2022: $12,214,311Net Assets 2022: $4,304,3192022Assets 2023: $16,149,840Liabilities 2023: $12,018,454Net Assets 2023: $4,131,3862023Assets 2024: $15,483,337Liabilities 2024: $11,560,615Net Assets 2024: $3,922,7222024

Highlighted filing

2017

Assets$282,404
Liabilities$78,265
Net Assets$204,139
Open 2017 Filing

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $10,100Expenses 2015: $0Net Income 2015: $10,1002015Revenue 2016: $257,521Expenses 2016: $144,922Net Income 2016: $112,5992016Revenue 2017: $675,517Expenses 2017: $598,714Net Income 2017: $76,8032017Revenue 2017: $805,645Expenses 2017: $733,205Net Income 2017: $72,4402017Revenue 2018: $1,757,933Expenses 2018: $1,395,936Net Income 2018: $361,9972018Revenue 2019: $4,637,979Expenses 2019: $1,564,795Net Income 2019: $3,073,1842019Revenue 2020: $2,123,353Expenses 2020: $1,854,467Net Income 2020: $268,8862020Revenue 2021: $2,970,436Expenses 2021: $2,175,236Net Income 2021: $795,2002021Revenue 2022: $3,381,614Expenses 2022: $3,770,902Net Income 2022: -$389,2882022Revenue 2023: $3,945,546Expenses 2023: $4,118,479Net Income 2023: -$172,9332023Revenue 2024: $4,010,021Expenses 2024: $4,218,685Net Income 2024: -$208,6642024

Highlighted filing

2017

Revenue$675,517
Expenses$598,714
Net Income$76,803
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 12, 2018
Return Version
2017v2.3
Gross Receipts
$675,517
Mission and Program Overview

Mission

The mission of the organization is to help create and scale the next generation of successful robotics and connected device companies by providing entrepreneurs and innovative robotics/automation startups with the workspace and resources they need to develop, prototype, test and commercialize their products and solutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,952$158,775▲ $133,823
Pledges and Grants Receivable$25,000$77,600▲ $52,600
Cash and Non-Interest-Bearing Accounts$8,689$11,326▲ $2,637
Prepaid Expenses and Deferred Charges-$2,942-
Savings and Temporary Cash Investments$40,120$331▼ $39,789
Total Assets$128,761$282,404▲ $153,643
Other Assets Total$30,000$31,430▲ $1,430
Liabilities
Accounts Payable and Accrued Expenses$6,062$61,340▲ $55,278
Other Liabilities-$16,925-
Total Liabilities$6,062$78,265▲ $72,203
Net Assets / Fund Balance
Unrestricted Net Assets$122,699$204,139▲ $81,440
Total Net Assets Fund Balance$122,699$204,139▲ $81,440
Total Liabilities and Net Assets / Fund Balance$128,761$282,404▲ $153,643

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$158,019$11,354$169,373
Equipment$756$134$890
Other Assets Org$31,430--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Timothy RoweChairman/tre
Daniel TheobaldPresident
CA WebbDirector
Colin AngleDirector
Daniela RusDirector
Tom HopcroftDirector
Peter RosenblumClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$75,000
Program Service Revenue
$600,237
Investment Income
$210
Other Revenue
$70
All Other Contributions
$75,000
Change in Net Assets
$76,803

Audited Revenue Reconciliation

Revenue per Audited Statements
$675,517
Total Revenue per Audited Statements
$675,517
Total Revenue per Form 990
$675,517
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$345,482
Salaries, Compensation, and Employee Benefits$253,232
Total Fundraising Expense$124,505
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$168,139$42,035-$210,174
Other Salaries and Wages$56,079-$73,846$129,925
Current Officers, Directors, Trustees, and Key Employees$34,615$43,269$8,654$86,538
Payroll Taxes$11,421$7,462$12,042$30,925
Depreciation Depletion$15,187--$15,187
Office Expenses$10,564$3,018$1,509$15,091
Travel$9,549-$3,272$12,821
Fees for Services Legal--$11,529$11,529
Advertising$6,221$3,103-$9,324
Fees for Services Accounting-$7,200-$7,200
Other Employee Benefits$5,844--$5,844
Other Expenses$4,568-$727$4,568
All Other Expenses$2,794$938-$3,732
Insurance$2,781$695-$3,476
Conferences and Meetings-$1,027$426$1,453
Total Functional Expenses$365,462$108,747$124,505$598,714

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$598,714
Expenses per Audited Statements$594,077
Total Expenses per Audited Statements$594,077
Expenses Not Reported on Financial Statements$4,637
Other Expense Adjustments$4,637
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Resident Deposits$16,925
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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, Page 6, Part VI, Line 8B

“The organization does not have any committees that act on behalf of the governing board.”

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

“Executive director and board members review and discuss the tax return prior to filing.”

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

“Board is required to disclose any conflict of interest immediately.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon requests.”

Filing and Contact Details

Filer

Filer Name
Massrobotics Inc
EIN
47-1919574
Phone
6179605960
Address
12 CHANNEL STREET SUITE 502, BOSTON, MA 02210

Signing Officer

Name
Thomas Ryden
Title
Executive Director
Phone
6179605960
Signed
2018-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Rowe
Formed
2015
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
4
Volunteers
18

Preparer

Firm
Cain Bourret Jarry & Associates LLC
Address
1595 LAKEVIEW AVENUE, DRACUT, MA 01826
Preparer
Steven R Bourret
Phone
9789571421
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the organization is to help create and scale the next generation of successful robotics and connected device companies by providing entrepreneurs and innovative robotics/automation startups with the workspace and resources they need to develop, prototype, test and commercialize their products and solutions.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 4,637”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization's activities are generally exempt from federal and state income taxes under section 501 (c)(3) of the internal revenue code and section 830 cmr 63.38t.1 of massachusetts general laws. Since the organization is exempt from federal and state income tax liability, no provision is made for current or deferred income tax expenses. The organization is not a private foundation. Management is not aware of any transactions that would negatively impact the organization's tax-exempt status. For the year ended december 31, 2017, management of the organization is not aware of any material uncertain tax positions to be accounted for in the financial statements. It is the organization's policy to recognize interest and penalties related to income taxes on uncertain tax positions, if any, in interest expense for the period. All tax-exempt entities are subject to review and audit by federal, state, and other applicable agencies. Such agencies may review the taxability of unrelated business income, or the qualification of the tax-exempt entity under the internal revenue code and applicable state statues. The organization's returns are subject to possible examination by the taxing authorities until the expiration of the related statutes of limitations on those tax returns. In general, the federal and state returns have a three year statute of limitations.”

Schedule D, Page 4, Part XII, Line 4B

“Book / tax depreciation difference 4,637”

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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0943138
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011354
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016925
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RESIDENT DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0675517
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S ACTIVITIES ARE GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 830 CMR 63.38T.1 OF MASSACHUSETTS GENERAL LAWS. SINCE THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAX LIABILITY, NO PROVISION IS MADE FOR CURRENT OR DEFERRED INCOME TAX EXPENSES. THE ORGANIZATION IS NOT A PRIVATE FOUNDATION. MANAGEMENT IS NOT AWARE OF ANY TRANSACTIONS THAT WOULD NEGATIVELY IMPACT THE ORGANIZATION'S TAX-EXEMPT STATUS. FOR THE YEAR ENDED DECEMBER 31, 2017, MANAGEMENT OF THE ORGANIZATION IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE ACCOUNTED FOR IN THE FINANCIAL STATEMENTS. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST AND PENALTIES RELATED TO INCOME TAXES ON UNCERTAIN TAX POSITIONS, IF ANY, IN INTEREST EXPENSE FOR THE PERIOD. ALL TAX-EXEMPT ENTITIES ARE SUBJECT TO REVIEW AND AUDIT BY FEDERAL, STATE, AND OTHER APPLICABLE AGENCIES. SUCH AGENCIES MAY REVIEW THE TAXABILITY OF UNRELATED BUSINESS INCOME, OR THE QUALIFICATION OF THE TAX-EXEMPT ENTITY UNDER THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUES. THE ORGANIZATION'S RETURNS ARE SUBJECT TO POSSIBLE EXAMINATION BY THE TAXING AUTHORITIES UNTIL THE EXPIRATION OF THE RELATED STATUTES OF LIMITATIONS ON THOSE TAX RETURNS. IN GENERAL, THE FEDERAL AND STATE RETURNS HAVE A THREE YEAR STATUTE OF LIMITATIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BOOK / TAX DEPRECIATION DIFFERENCE 4,637
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt031430
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IRS990ScheduleD/TotalLiabilityAmt016925
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE ORGANIZATION IS TO HELP CREATE AND SCALE THE NEXT GENERATION OF SUCCESSFUL ROBOTICS AND CONNECTED DEVICE COMPANIES BY PROVIDING ENTREPRENEURS AND INNOVATIVE ROBOTICS/AUTOMATION STARTUPS WITH THE WORKSPACE AND RESOURCES THEY NEED TO DEVELOP, PROTOTYPE, TEST AND COMMERCIALIZE THEIR PRODUCTS AND SOLUTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DIRECTOR AND BOARD MEMBERS REVIEW AND DISCUSS THE TAX RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD IS REQUIRED TO DISCLOSE ANY CONFLICT OF INTEREST IMMEDIATELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUESTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK / TAX DEPRECIATION DIFFERENCE 4,637
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 8B
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/USAddress/CityNm0BOSTON
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0THOMAS RYDEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06179605960
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MASSROBOTICS INC
ReturnHeader/Filer/BusinessNameControlTxt0MASS
ReturnHeader/Filer/EIN0471919574
ReturnHeader/Filer/PhoneNum06179605960
ReturnHeader/Filer/USAddress/AddressLine1Txt012 CHANNEL STREET SUITE 502

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$282,404
Liabilities
$78,265
Net assets
$204,139
Revenue
$675,517
Expenses
$598,714
Net income
$76,803
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.5$11.6$3.92$4.01$4.22$0.21
2023Summary only. Only limited summary data is available for this year.$16.1$12.0$4.13$3.95$4.12$0.17
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.5$12.2$4.30$3.38$3.77$0.39
2021Summary only. Only limited summary data is available for this year.$5.52$0.83$4.69$2.97$2.18$0.80
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.69$0.80$3.90$2.12$1.85$0.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.84$1.21$3.63$4.64$1.56$3.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.68$0.12$0.56$1.76$1.40$0.36
2017Detailed filing. Detailed filing data is available for this year.$0.28$0.08$0.20$0.68$0.60$0.08
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.09$0.20$0.81$0.73$0.07
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$0.01$0.12$0.26$0.14$0.11
2015Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.00$0.01