Civic Intelligence

Massrobotics Inc.

990 • Fiscal year 2021 • EIN 47-1919574

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 25, 2022

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

54th percentile

0.15x

Higher debt load relative to assets than 54% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

63rd percentile

0.28x

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

71st percentile

27%

Higher net margin than 71% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

77th percentile

$200,000

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

66th percentile

18%

Faster asset growth than 66% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

74th percentile

40%

Faster revenue growth than 74% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets54th percentile

Assets

Flat

$5,521,015

Flat from 2021

Net Assets

Flat

$4,693,607

Flat from 2021

Liabilities

Flat

$827,408

Flat from 2021

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin71st percentile

Revenue

Flat

$2,970,436

Flat from 2021

Expenses

Flat

$2,175,236

Flat from 2021

Net Income

Flat

$795,200

Flat from 2021

Historical Trend

Balance Sheet Trend

Asset Growth66th 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 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

2021

Assets$5,521,015
Liabilities$827,408
Net Assets$4,693,607
Open 2021 Filing

Operations Trend

Revenue Growth74th 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 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

2021

Revenue$2,970,436
Expenses$2,175,236
Net Income$795,200
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 25, 2022
Return Version
2021v4.0
Gross Receipts
$3,035,797
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$3,992,239$4,048,643▲ $56,404
Savings and Temporary Cash Investments$275,830$751,444▲ $475,614
Pledges and Grants Receivable$271,037$515,241▲ $244,204
Cash and Non-Interest-Bearing Accounts$69,352$119,484▲ $50,132
Prepaid Expenses and Deferred Charges$10,832$10,632▼ $200
Total Assets$4,694,861$5,521,015▲ $826,154
Other Assets Total$75,571$75,571→ $0
Liabilities
Other Liabilities$628,818$531,004▼ $97,814
Accounts Payable and Accrued Expenses$117,636$246,404▲ $128,768
Deferred Revenue$50,000$50,000→ $0
Total Liabilities$796,454$827,408▲ $30,954
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,877,707$4,686,381▲ $808,674
Net Assets With Donor Restrictions$20,700$7,226▼ $13,474
Total Net Assets Fund Balance$3,898,407$4,693,607▲ $795,200
Total Liabilities and Net Assets / Fund Balance$4,694,861$5,521,015▲ $826,154

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$3,752,418$670,600$4,423,018
Other Land Buildings$187,761$58,088$245,849
Equipment$108,464$57,919$166,383
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Thomas RydenExecutive DiFT$200,000$200,000
Thomas RydenExecutive Director-$200,000$200,000
Fady M SaadDirector, RoFT$167,850$167,850
Fady M SaadDirector, Robotics-$167,850$167,850
Joyce SidopoulosVP, ProgramsFT$132,000$132,000

Board Members and Trustees

NameTitle
Tye BradyChairman
Colin AngleDirector
Cynthia Ann WebbDirector
Daniel TheobaldDirector
Daniela RusDirector
Thomas HopcroftDirector
Timothy RoweDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,243,789
Program Service Revenue
$707,960
Investment Income
$613
Other Revenue
$18,074
All Other Contributions
$1,770,319
Change in Net Assets
$795,200

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,970,436
Revenue Not Reported on Form 990
$160,109
Total Revenue per Audited Statements
$3,130,545
Total Revenue per Form 990
$2,970,436
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,408,665
Salaries, Compensation, and Employee Benefits$766,571
Total Fundraising Expense$254,834
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$569,524$142,381-$711,905
Other Salaries and Wages$241,373$51,103$204,791$497,267
Depreciation Depletion$276,238$69,060-$345,298
Current Officers, Directors, Trustees, and Key Employees$80,000$100,000$20,000$200,000
Payroll Taxes$31,277$14,706$21,877$67,860
Office Expenses$33,656$9,616$4,808$48,080
All Other Expenses$21,984$1,622$593$24,199
Interest-$23,877-$23,877
Fees for Services Accounting-$14,281-$14,281
Insurance$10,170$2,542-$12,712
Other Expenses$11,878$3,705-$11,878
Conferences and Meetings-$4,533$1,943$6,476
Travel$4,389-$488$4,877
Advertising$2,054$1,011-$3,065
Other Employee Benefits-$1,444-$1,444
Fees for Services Legal--$334$334
Total Functional Expenses$1,480,521$439,881$254,834$2,175,236

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,335,345
Expenses per Audited Statements$2,175,236
Total Expenses per Form 990$2,175,236
Expenses Not Reported on Form 990$160,109
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$81,875
Fundraising Direct Expenses$65,361
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Block Party$81,875$81,875$65,361$16,514
Total Events$81,875$81,875$65,361$16,514
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$485,827
Security Deposits$45,175
Rounding$2
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
2022-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tye Brady
Formed
2015
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
8
Volunteers
24

Preparer

Firm
Cain Bourret Jarry & Cressman LLC
Address
1175 MAMMOTH ROAD SUITE 2A, 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.”

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,521,015
Liabilities
$827,408
Net assets
$4,693,607
Revenue
$2,970,436
Expenses
$2,175,236
Net income
$795,200
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
2021Detailed filing. Detailed filing data is available for this year.$5.52$0.83$4.69$2.97$2.18$0.80
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
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