Civic Intelligence

Fabscrap Inc.

990 • Fiscal year 2019 • EIN 81-3795981

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 23, 2020

PO Box 7559New York, NY 10150

(929) 276-3188

Siviq Scores

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

Liabilities / Assets

80th percentile

0.28x

Higher debt load relative to assets than 80% of similar nonprofits.

2019 filings • NTEE C • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

0.10x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • NTEE C • $500k-$1M nonprofits • Source year 2019

Net Margin

53rd percentile

6.4%

Higher net margin than 53% of similar nonprofits.

2019 filings • NTEE C • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

60th percentile

$36,483

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

95th percentile

137%

Faster asset growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

89th percentile

68%

Faster revenue growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Up

$221,608

Up $128,169 (+137%) from 2018

Net Assets

Up

$160,033

Up $70,373 (+78%) from 2018

Liabilities

Up

$61,575

Up $57,796 (+1529%) from 2018

Revenue

Up

$624,728

Up $253,663 (+68%) from 2018

Expenses

Up

$584,657

Up $290,196 (+99%) from 2018

Net Income

Down

$40,071

Down $36,533 (-48%) from 2018

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2017: $22,172Liabilities 2017: $9,116Net Assets 2017: $13,0462017Assets 2018: $93,439Liabilities 2018: $3,779Net Assets 2018: $89,6602018Assets 2019: $221,608Liabilities 2019: $61,575Net Assets 2019: $160,0332019Assets 2020: $347,157Liabilities 2020: $255,349Net Assets 2020: $91,8082020Assets 2021: $633,771Liabilities 2021: $451,654Net Assets 2021: $182,1172021Assets 2022: $398,355Liabilities 2022: $273,094Net Assets 2022: $125,2612022Assets 2023: $237,459Liabilities 2023: $239,017Net Assets 2023: -$1,5582023Assets 2024: $1,619,720Liabilities 2024: $1,533,825Net Assets 2024: $85,8952024

Highlighted filing

2019

Assets$221,608
Liabilities$61,575
Net Assets$160,033

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2017: $92,291Expenses 2017: $106,546Net Income 2017: -$14,2552017Revenue 2018: $371,065Expenses 2018: $294,461Net Income 2018: $76,6042018Revenue 2019: $624,728Expenses 2019: $584,657Net Income 2019: $40,0712019Revenue 2020: $673,859Expenses 2020: $742,084Net Income 2020: -$68,2252020Revenue 2021: $1,218,585Expenses 2021: $1,128,276Net Income 2021: $90,3092021Revenue 2022: $1,510,101Expenses 2022: $1,569,068Net Income 2022: -$58,9672022Revenue 2023: $1,238,779Expenses 2023: $1,415,358Net Income 2023: -$176,5792023Revenue 2024: $1,617,647Expenses 2024: $1,557,540Net Income 2024: $60,1072024

Highlighted filing

2019

Revenue$624,728
Expenses$584,657
Net Income$40,071
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 23, 2020
Return Version
2019v5.0
Gross Receipts
$624,728
Mission and Program Overview

Mission

To maximize the value of unused fabric, fabscrap is a convenient and transparent service, is an affordable and accessible materials resource, and is educating and empowering a diverse community of changemakers.

To maximize the value of unused fabric, FABSCRAP is a convenient and transparent Service, is an affordable and accessible materials Resource, and is educating and empowering a Community of changemakers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$75,302-
Cash and Non-Interest-Bearing Accounts$85,232$62,230▼ $23,002
Accounts Receivable$5,299$53,588▲ $48,289
Land, Buildings, and Equipment, Net$2,608$2,488▼ $120
Prepaid Expenses and Deferred Charges$300$0▼ $300
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$93,439$221,608▲ $128,169
Other Assets Total-$28,000-
Liabilities
Other Liabilities-$53,339-
Accounts Payable and Accrued Expenses$3,779$8,236▲ $4,457
Total Liabilities$3,779$61,575▲ $57,796
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$89,660$160,033▲ $70,373
Total Net Assets Fund Balance$89,660$160,033▲ $70,373
Total Liabilities and Net Assets / Fund Balance$93,439$221,608▲ $128,169

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,488$746$3,234
Other Assets Org$28,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jessica Dominguez HolduinExecutive DirectorFT$36,483$36,483
Camille D TagleDirectorFT$34,200$34,200

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$70,061
Program Service Revenue
$554,061
Investment Income
$606
Other Revenue
$0
All Other Contributions
$70,061
Change in Net Assets
$40,071
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$407,082
Salaries, Compensation, and Employee Benefits$177,575
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$164,724$29,069-$193,793
Other Salaries and Wages$72,216$12,744-$84,960
Current Officers, Directors, Trustees, and Key Employees$60,081$10,602-$70,683
Fees for Services Management$20,300$3,582-$23,882
Advertising$14,648$2,585-$17,233
Fees for Services Legal$13,113$2,314-$15,427
Payroll Taxes$10,121$1,786-$11,907
Other Expenses$8,916$1,573-$10,489
Other Employee Benefits$8,521$1,504-$10,025
Fees for Services Accounting$5,993$1,057-$7,050
Insurance$3,273$578-$3,851
Travel$3,040$537-$3,577
Interest$2,393$422-$2,815
Conferences and Meetings$2,202$388-$2,590
Office Expenses$1,915$338-$2,253
Depreciation Depletion$356$63-$419
Total Functional Expenses$496,959$87,698$0$584,657
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Business Line of Credit$53,339
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Nicholas Dominguez Holguin is the Executive Director's spouse

Form 990, Part VI, Line 11B: Form 990 Review Process

The form 990 is prepared by an independent cpa firm.a draft is delivered to the executive director.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Fabscrap has adopted a conflict of interest policy and an annual disclosure statement that is distributed, reviewed, signed and submitted by all members of the board. The executive director reviews the signed statements. If a conflict were to arise, the individual would abstain from voting.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board of directors is responsible for hiring, and establishing the compensation salary and benefits) of the executive director/top management

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The board of directors is responsible for hiring, and establishing the compensation salary and benefits) of the executive director/top management

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Fabscrap Inc
EIN
81-3795981
Phone
9292763188
Address
PO BOX 7559, New York, NY 10150

Signing Officer

Name
Jessica Dominguez Holguin
Title
Executive Director
Phone
9292763188
Signed
2020-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Executive Director
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
6
Employees
5
Volunteers
2,952

Preparer

Firm
Nezaj & Co CPAS LLP
Address
6 East 39th St Ste 901, New York, NY 10016
Preparer
Erenik Nezaj
Phone
2123909495
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

Other program services 4: fabric sales: fabscrap will sell the fabric scrap. These fabrics are recovered from high-end designers in nyc, sold as a sustainable alternative to destruction and discard in lanfill.

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IRS990/ProgSrvcAccomActy2Grp/Desc0SERVICE FEES: FABSCRAP PROVIDES CONVENIENT PICKUP AND RECYCLING OF TEXTILES FOR BUSINESSES IN NEW YORK CITY. THE ORGANIZATION WILL PICKUP FABRIC SCRAPS TO RECYLCE OR REUSE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0204217
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IRS990/ProgSrvcAccomActy3Grp/Desc0DONATIONS: FABSCRAP ACCEPTS INDIVIDUAL DONATIONS. THE DONATIONS ARE USED TO PUT FORWARD THE MISSION, HIRE MORE PEOPLE AND KEEP FABRIC PRICES LOW.
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt071146
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0903040
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IRS990ScheduleA/Total509Grp/TotalAmt01097916
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01098534
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt028000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt053339
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Business Line of Credit
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAM SERVICES 4: FABRIC SALES: FABSCRAP WILL SELL THE FABRIC SCRAP. THESE FABRICS ARE RECOVERED FROM HIGH-END DESIGNERS IN NYC, SOLD AS A SUSTAINABLE ALTERNATIVE TO DESTRUCTION AND DISCARD IN LANFILL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Nicholas Dominguez Holguin is the Executive Director's spouse
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM.A DRAFT IS DELIVERED TO THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FABSCRAP HAS ADOPTED A CONFLICT OF INTEREST POLICY AND AN ANNUAL DISCLOSURE STATEMENT THAT IS DISTRIBUTED, REVIEWED, SIGNED AND SUBMITTED BY ALL MEMBERS OF THE BOARD. THE EXECUTIVE DIRECTOR REVIEWS THE SIGNED STATEMENTS. IF A CONFLICT WERE TO ARISE, THE INDIVIDUAL WOULD ABSTAIN FROM VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS IS RESPONSIBLE FOR HIRING, AND ESTABLISHING THE COMPENSATION SALARY AND BENEFITS) OF THE EXECUTIVE DIRECTOR/TOP MANAGEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS IS RESPONSIBLE FOR HIRING, AND ESTABLISHING THE COMPENSATION SALARY AND BENEFITS) OF THE EXECUTIVE DIRECTOR/TOP MANAGEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d: Other Program Services Description
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0624728
IRS990/TotalVolunteersCnt02952

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