Civic Intelligence

Massrobotics Inc.

990 • Fiscal year 2019 • EIN 47-1919574

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

Organization ProfileWWW.MASSROBOTICS.ORG
12 Channel Street Suite 202Boston, MA 02210

(617) 960-5960

Siviq Scores

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

Liabilities / Assets

69th percentile

0.25x

Higher debt load relative to assets than 69% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

70th percentile

0.26x

Higher debt load relative to revenue than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

95th percentile

66%

Higher net margin than 95% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

87th percentile

$173,975

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

99th percentile

613%

Faster asset growth than 99% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

96th percentile

164%

Faster revenue growth than 96% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$4,836,926

Up $4,158,973 (+613%) from 2018

Net Assets

Up

$3,629,521

Up $3,068,501 (+547%) from 2018

Liabilities

Up

$1,207,405

Up $1,090,472 (+933%) from 2018

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin95th percentile

Revenue

Up

$4,637,979

Up $2,880,046 (+164%) from 2018

Expenses

Up

$1,564,795

Up $168,859 (+12%) from 2018

Net Income

Up

$3,073,184

Up $2,711,187 (+749%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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: $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

2019

Assets$4,836,926
Liabilities$1,207,405
Net Assets$3,629,521
Open 2019 Filing

Operations Trend

Revenue Growth96th percentile

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: $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

2019

Revenue$4,637,979
Expenses$1,564,795
Net Income$3,073,184
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 16, 2020
Return Version
2019v5.0
Gross Receipts
$4,637,979
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$283,495$4,240,646▲ $3,957,151
Pledges and Grants Receivable$321,975$482,794▲ $160,819
Savings and Temporary Cash Investments$20,775$50,245▲ $29,470
Cash and Non-Interest-Bearing Accounts$17,742$20,503▲ $2,761
Prepaid Expenses and Deferred Charges$2,536$12,038▲ $9,502
Total Assets$677,953$4,836,926▲ $4,158,973
Other Assets Total$31,430$30,700▼ $730
Liabilities
Accounts Payable and Accrued Expenses$99,758$726,118▲ $626,360
Other Liabilities$17,175$481,287▲ $464,112
Total Liabilities$116,933$1,207,405▲ $1,090,472
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$561,020$3,608,821▲ $3,047,801
Net Assets With Donor Restrictions-$20,700-
Total Net Assets Fund Balance$561,020$3,629,521▲ $3,068,501
Total Liabilities and Net Assets / Fund Balance$677,953$4,836,926▲ $4,158,973

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$4,025,121$70,237$4,095,358
Other Land Buildings$120,334$21,017$141,351
Equipment$95,191$27,658$122,849
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Fady M SaadDirector, RoFT$173,975$173,975
Fady M SaadDirector, Robotics-$173,975$173,975
Thomas RydenExecutive DiFT$125,000$125,000

Board Members and Trustees

NameTitle
Timothy RoweChairman/tre
Daniel TheobaldPresident
Colin AngleDirector
Cynthia Ann WebbDirector
Daniela RusDirector
Thomas HopcroftDirector
Peter RosenblumClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$4,233,505
Program Service Revenue
$399,697
Investment Income
$771
Other Revenue
$4,006
All Other Contributions
$1,733,505
Change in Net Assets
$3,073,184

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 Table2$148,139Fair Value
Total Noncash Contributions2$148,139-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,637,979
Revenue Not Reported on Form 990
$148,139
Total Revenue per Audited Statements
$4,786,118
Total Revenue per Form 990
$4,637,979
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,050,756
Salaries, Compensation, and Employee Benefits$514,039
Total Fundraising Expense$293,936
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$476,429$119,107-$595,536
Other Salaries and Wages$118,503$16,276$173,975$308,754
Current Officers, Directors, Trustees, and Key Employees$50,000$62,500$12,500$125,000
Fees for Services Legal$3,500$34,627$55,646$93,773
Fees for Services Other$78,200-$13,800$92,000
Depreciation Depletion$85,331--$85,331
Conferences and Meetings-$43,651$18,708$62,359
Other Employee Benefits$48,003--$48,003
Office Expenses$23,638$6,754$3,377$33,769
Payroll Taxes$12,590$5,811$13,881$32,282
Fees for Services Accounting-$12,000-$12,000
Insurance$8,819$2,205-$11,024
Travel$8,833-$981$9,814
Advertising$4,311$2,123-$6,434
All Other Expenses$3,781$1,033-$4,814
Other Expenses$3,565$891$1,068$4,456
Total Functional Expenses$963,881$306,978$293,936$1,564,795

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,717,618
Expenses per Audited Statements$1,564,795
Total Expenses per Form 990$1,564,795
Expenses Not Reported on Form 990$152,823
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
Cambridge Savings Bank Loan$456,312
Security Deposits$24,975
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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 11B

“Executive director will review and discuss the tax return with the independent cpa audit firm. The executive director will subsequently update the treasurer and review with appropriate members of the board of directors.”

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 202, BOSTON, MA 02210

Signing Officer

Name
Thomas Ryden
Title
Executive Director
Phone
6179605960
Signed
2020-09-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Rowe
Formed
2015
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
10
Employees
6
Volunteers
13

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, Page 2, Part III, Line 4A

“The organization is an independent, non-profit organization serving as the innovation hub for robotics and connected devices. Through our programming and events, we help bring together innovative startups and existing technology organizations to nurture the next generation of talent, and promote economic growth and innovation. By working with diverse local talent, we are helping to bring about the next global evolution of robotics. The organization promotes the development of common-need technology services, such as software and standards support for the robotics community, foster a collaborative ecosystem for academic, private, and public key stakeholders that allows thought-sharing and creative exchange, and inspire the next generation of innovators and builders through in-house hands-on stem collaboration and initiatives.”

Form 990, Part XI, Line 9

“Difference between book and tax depreciation -4,683”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Book / tax depreciation difference 4,684”

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IRS990/ProgramServiceRevenueGrp/Desc1SPECIAL EVENTS
IRS990/ProgramServiceRevenueGrp/Desc2SPONSORSHIPS
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IRS990/ProgramServiceRevenueGrp/ExclusionAmt140450
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IRS990/PYOtherRevenueAmt05893
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IRS990/PYTotalRevenueAmt01757933
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReconcilationRevenueExpnssAmt03073184
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07469178
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0148139
IRS990ScheduleD/DonatedServicesUseFcltsAmt0148139
IRS990ScheduleD/EquipmentGrp/BookValueAmt095191
IRS990ScheduleD/EquipmentGrp/DepreciationAmt027658
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IRS990ScheduleD/ExpensesNotReportedAmt0152823
IRS990ScheduleD/ExpensesSubtotalAmt01564795
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04025121
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt070237
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt04095358
IRS990ScheduleD/OtherExpensesIncludedAmt04684
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0120334
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021017
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0141351
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0456312
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAMBRIDGE SAVINGS BANK LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
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IRS990ScheduleD/RevenueSubtotalAmt04637979
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 4,684
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0FADY M SAAD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR, ROBOTICS
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IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0MARKETING/LEGAL
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0FAIR VALUE
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IRS990ScheduleM/ThirdPartiesUsedInd0false
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 IS AN INDEPENDENT, NON-PROFIT ORGANIZATION SERVING AS THE INNOVATION HUB FOR ROBOTICS AND CONNECTED DEVICES. THROUGH OUR PROGRAMMING AND EVENTS, WE HELP BRING TOGETHER INNOVATIVE STARTUPS AND EXISTING TECHNOLOGY ORGANIZATIONS TO NURTURE THE NEXT GENERATION OF TALENT, AND PROMOTE ECONOMIC GROWTH AND INNOVATION. BY WORKING WITH DIVERSE LOCAL TALENT, WE ARE HELPING TO BRING ABOUT THE NEXT GLOBAL EVOLUTION OF ROBOTICS. THE ORGANIZATION PROMOTES THE DEVELOPMENT OF COMMON-NEED TECHNOLOGY SERVICES, SUCH AS SOFTWARE AND STANDARDS SUPPORT FOR THE ROBOTICS COMMUNITY, FOSTER A COLLABORATIVE ECOSYSTEM FOR ACADEMIC, PRIVATE, AND PUBLIC KEY STAKEHOLDERS THAT ALLOWS THOUGHT-SHARING AND CREATIVE EXCHANGE, AND INSPIRE THE NEXT GENERATION OF INNOVATORS AND BUILDERS THROUGH IN-HOUSE HANDS-ON STEM COLLABORATION AND INITIATIVES.

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Filings

Displayed year

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

Open filing
Assets
$4,836,926
Liabilities
$1,207,405
Net assets
$3,629,521
Revenue
$4,637,979
Expenses
$1,564,795
Net income
$3,073,184
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
2019Detailed filing. Detailed filing data is available for this year.$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
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