Civic Intelligence

The Loop Lab Inc

990 • Fiscal year 2020 • EIN 82-3829806

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 18, 2021

Organization Profilewww.thelooplab.org
872 Massachusetts Ave Unit 1-5Cambridge, MA 02139

(857) 251-0843

Siviq Scores

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

Liabilities / Assets

87th percentile

0.47x

Higher debt load relative to assets than 87% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

0.30x

Higher debt load relative to revenue than 87% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

60th percentile

12%

Higher net margin than 60% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$57,834

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 15.2% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

94th percentile

256%

Faster asset growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

186%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$247,985

Up $178,332 (+256%) from 2019

Net Assets

Up

$131,685

Up $62,032 (+89%) from 2019

Liabilities

Up

$116,300

Up $116,300 from 2019

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin60th percentile

Revenue

Up

$381,557

Up $248,336 (+186%) from 2019

Expenses

Up

$334,999

Up $135,097 (+68%) from 2019

Net Income

Up

$46,558

Up $113,239 (+170%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$1.5M$1.0M$500K$0Assets 2019: $69,653Liabilities 2019: $0Net Assets 2019: $69,6532019Assets 2020: $247,985Liabilities 2020: $116,300Net Assets 2020: $131,6852020Assets 2021: $504,602Liabilities 2021: $135,060Net Assets 2021: $369,5422021Assets 2022: $1,062,451Liabilities 2022: $171,440Net Assets 2022: $891,0112022Assets 2023: $796,165Liabilities 2023: $255,512Net Assets 2023: $540,6532023Assets 2024: $672,530Liabilities 2024: $295,267Net Assets 2024: $377,2632024

Highlighted filing

2020

Assets$247,985
Liabilities$116,300
Net Assets$131,685
Open 2020 Filing

Operations Trend

Revenue Growth96th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $133,221Expenses 2019: $199,902Net Income 2019: -$66,6812019Revenue 2020: $381,557Expenses 2020: $334,999Net Income 2020: $46,5582020Revenue 2021: $870,079Expenses 2021: $632,222Net Income 2021: $237,8572021Revenue 2022: $1,299,082Expenses 2022: $777,613Net Income 2022: $521,4692022Revenue 2023: $788,597Expenses 2023: $1,138,955Net Income 2023: -$350,3582023Revenue 2024: $1,221,096Expenses 2024: $1,384,486Net Income 2024: -$163,3902024

Highlighted filing

2020

Revenue$381,557
Expenses$334,999
Net Income$46,558
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 18, 2021
Return Version
2020v4.0
Gross Receipts
$381,557
Mission and Program Overview

Mission

To empower women and people of color in the media arts to develop careers in audio/video through job training and placement

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$51,660$216,976▲ $165,316
Land, Buildings, and Equipment, Net$17,993$16,809▼ $1,184
Accounts Receivable-$12,600-
Prepaid Expenses and Deferred Charges-$1,600-
Total Assets$69,653$247,985▲ $178,332
Liabilities
Mortgage Notes Payable Secured by Investment Property-$116,300-
Total Liabilities$0$116,300▲ $116,300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$69,653$131,685▲ $62,032
Total Net Assets Fund Balance$69,653$131,685▲ $62,032
Total Liabilities and Net Assets / Fund Balance$69,653$247,985▲ $178,332

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,809$6,612-
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher HopeExecutive DirectorFT$57,034$800$57,834

Board Members and Trustees

NameTitle
Paul LannonBoard Chair
Troy EllerbeeClerk
Jan Houston SmithSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$231,634
Program Service Revenue
$149,848
Investment Income
$75
Other Revenue
$0
All Other Contributions
$209,147
Change in Net Assets
$46,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$206,606
Salaries, Compensation, and Employee Benefits$128,393
Total Fundraising Expense$55,377
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$67,771--$67,771
Other Salaries and Wages$50,959$14,012$557$65,528
Current Officers, Directors, Trustees, and Key Employees-$13,245$39,736$52,981
Occupancy$7,224$3,864$5,712$16,800
Information Technology$6,837$3,262$1,120$11,219
Payroll Taxes$3,906$2,089$3,089$9,084
Conferences and Meetings$4,903$1,065$1,575$7,543
Fees for Services Accounting$1,226$5,305$969$7,500
Depreciation Depletion-$4,684-$4,684
Travel$4,515--$4,515
Office Expenses$1,021$546$808$2,375
Other Expenses$823$440$651$1,914
All Other Expenses$835$394$581$1,810
Insurance-$1,219-$1,219
Other Employee Benefits$344$184$272$800
Total Functional Expenses$227,576$52,046$55,377$334,999
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
Audit committee
No
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Forms 990 and PC are reviewed and approved by the ED of the organization before it is filed. The full 990, PC, and review report are provided to the board of directors.”

CEO executive director top management comp Part VI line 15A

“The board of directors use comparable data to establish the directors salary upon hire. On an annual, the board reviews salaries and approves appropriate changes.”

Other officer or key employee compensation Part VI line 15B

“The board of directors use comparable data to establish the directors salary upon hire. On an annual, the board reviews salaries and approves appropriate changes.”

Governing documents etc available to public Part VI line 19

“The Loop Lab, Inc makes its governing documents available upon request. In addition, the organizations governing documents, annual financial statements and tax filings are available on the MA AGs website.”

Filing and Contact Details

Filer

Filer Name
The Loop Lab Inc
EIN
82-3829806
Address
872 Massachusetts Ave Unit 1-5, Cambridge, MA 02139

Signing Officer

Name
Chris Hope
Title
Executive Direc
Phone
8572510843
Signed
2021-03-18
Discuss with paid preparer
No

Organization Details

Principal Officer
Christopher Hope
Formed
2017
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
4

Preparer

Firm
Mariya Babson CPA
Address
170 Parks St, Duxbury, MA 02332
Preparer
Mariya Babson CPA
Phone
7815887732
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Organization hires additional help per needed basis depending on production needs. In addition organization temporary hires existing internship students to receive experience directly during production program activities.”

General explanation attachment

“Primary Exempt Purpose - The Loop Lab is a non-profit social enterprise specializing in workforce development and digital storytelling founded to serve the Port neighborhood of Cambridge. Committed to empowering woman and adults of color from low income backgrounds to join the digital economy through careers in video, photography, and audio. We support that mission with our Media Production Studio that specializes in digital storytelling, with alumni and staff working on these projects.”

Raw XML Appendix372 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Forms 990 and PC are reviewed and approved by the ED of the organization before it is filed. The full 990, PC, and review report are provided to the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board of directors use comparable data to establish the directors salary upon hire. On an annual, the board reviews salaries and approves appropriate changes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board of directors use comparable data to establish the directors salary upon hire. On an annual, the board reviews salaries and approves appropriate changes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Loop Lab, Inc makes its governing documents available upon request. In addition, the organizations governing documents, annual financial statements and tax filings are available on the MA AGs website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Organization hires additional help per needed basis depending on production needs. In addition organization temporary hires existing internship students to receive experience directly during production program activities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Primary Exempt Purpose - The Loop Lab is a non-profit social enterprise specializing in workforce development and digital storytelling founded to serve the Port neighborhood of Cambridge. Committed to empowering woman and adults of color from low income backgrounds to join the digital economy through careers in video, photography, and audio. We support that mission with our Media Production Studio that specializes in digital storytelling, with alumni and staff working on these projects.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5General explanation attachment
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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$247,985
Liabilities
$116,300
Net assets
$131,685
Revenue
$381,557
Expenses
$334,999
Net income
$46,558
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.30$0.38$1.22$1.38$0.16
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$0.26$0.54$0.79$1.14$0.35
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.17$0.89$1.30$0.78$0.52
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.50$0.14$0.37$0.87$0.63$0.24
2020Detailed filing. Detailed filing data is available for this year.$0.25$0.12$0.13$0.38$0.33$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.07$0.00$0.07$0.13$0.20$0.07