Civic Intelligence

Yarnlabs Inc

990 • Fiscal year 2019 • EIN 83-0638683

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

Organization Profilen/a
245 Main Street Floor 2Cambridge, MA 02142

(828) 569-8491

Siviq Scores

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

Liabilities / Assets

38th percentile

0.03x

Higher debt load relative to assets than 38% of similar nonprofits.

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

Liabilities / Revenue

29th percentile

0.02x

Higher debt load relative to revenue than 29% of similar nonprofits.

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

Net Margin

83rd percentile

29%

Higher net margin than 83% of similar nonprofits.

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

Top Officer Pay

75th percentile

$115,768

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

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

Asset Growth

94th percentile

83%

Faster asset growth than 94% of similar nonprofits.

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

Revenue Growth

96th percentile

166%

Faster revenue growth than 96% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$1,828,520

Up $828,370 (+83%) from 2018

Net Assets

Up

$1,769,871

Up $769,721 (+77%) from 2018

Liabilities

Up

$58,649

Up $58,649 from 2018

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin83rd percentile

Revenue

Up

$2,663,011

Up $1,662,861 (+166%) from 2018

Expenses

Up

$1,893,290

Up $1,893,290 from 2018

Net Income

Down

$769,721

Down $230,429 (-23%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2018: $1,000,150Liabilities 2018: $0Net Assets 2018: $1,000,1502018Assets 2019: $1,828,520Liabilities 2019: $58,649Net Assets 2019: $1,769,8712019Assets 2020: $227,153Liabilities 2020: $0Net Assets 2020: $227,1532020Assets 2021: $203,297Liabilities 2021: $0Net Assets 2021: $203,2972021

Highlighted filing

2019

Assets$1,828,520
Liabilities$58,649
Net Assets$1,769,871
Open 2019 Filing

Operations Trend

Revenue Growth96th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2018: $1,000,150Expenses 2018: $0Net Income 2018: $1,000,1502018Revenue 2019: $2,663,011Expenses 2019: $1,893,290Net Income 2019: $769,7212019Revenue 2020: $190,803Expenses 2020: $1,694,228Net Income 2020: -$1,503,4252020Revenue 2021: $136Expenses 2021: $23,992Net Income 2021: -$23,8562021

Highlighted filing

2019

Revenue$2,663,011
Expenses$1,893,290
Net Income$769,721
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.0
Gross Receipts
$2,663,011
Mission and Program Overview

Mission

YarnLabs is a fiscal sponsor that aims to provide a range of strategic and administrative guidance and counsel, particularly for academic projects looking to scale their work.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,000,150$1,647,568▲ $647,418
Accounts Receivable-$93,023-
Prepaid Expenses and Deferred Charges-$29,504-
Savings and Temporary Cash Investments-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,000,150$1,828,520▲ $828,370
Other Assets Total-$58,425-
Liabilities
Accounts Payable and Accrued Expenses-$58,649-
Total Liabilities$0$58,649▲ $58,649
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$1,236,626-
Net Assets Without Donor Restrictions$1,000,150$533,245▼ $466,905
Total Net Assets Fund Balance$1,000,150$1,769,871▲ $769,721
Total Liabilities and Net Assets / Fund Balance$1,000,150$1,828,520▲ $828,370
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeong Seuk-KangDirector of ImpactFT$115,768$115,768

Board Members and Trustees

NameTitle
Barak BerkowitzDirector
Martha CollinsSec thru 11/19
Morgan BinswangerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,338,150
Program Service Revenue
$10,674
Investment Income
$0
Other Revenue
$314,187
All Other Contributions
$2,338,150
Change in Net Assets
$769,721

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,663,011
Total Revenue per Audited Statements
$2,663,011
Total Revenue per Form 990
$2,663,011
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$811,870
Salaries, Compensation, and Employee Benefits$614,088
Grants and Similar Amounts Paid$467,332
Total Fundraising Expense$214,036
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$318,359$110,740$91,226$520,325
Other Salaries and Wages$218,444$114,859$94,619$427,922
Foreign Grants$353,920--$353,920
Fees for Services Other$112,833$17,163-$129,996
Current Officers, Directors, Trustees, and Key Employees$115,768--$115,768
Grants to Domestic Orgs$113,412--$113,412
Travel$51,257$17,829$14,688$83,774
Payroll Taxes$28,680$9,977$8,218$46,875
Fees for Services Accounting-$32,847-$32,847
Other Employee Benefits$8,155$4,232$3,486$15,873
Other Expenses-$14,256-$14,256
Pension Plan Contributions$4,681$1,628$1,341$7,650
Fees for Services Legal-$6,247-$6,247
Advertising-$5,186-$5,186
Office Expenses$1,419$494$407$2,320
Conferences and Meetings$1,818--$1,818
Insurance$179$63$51$293
Total Functional Expenses$1,328,925$350,329$214,036$1,893,290

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,893,290
Total Expenses per Audited Statements$1,893,290
Total Expenses per Form 990$1,893,290
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Boston UniversityBoston, MA501(c)(3)Innovation Information Initiative$57,412
Natl Bureau of Econ ResearchCambridge, MA501(c)(3)Innovation Information Initiative$56,000

International Summary

Spending
$353,920

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
AustrailaGrantmaking-00$258,720
EuropeGrantmaking-00$95,200
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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, Part VI, Line 11B: Form 990 Review Process

“A draft of the 990 is provided to each Board member for review. Board members are then asked to approve the Form 990 before it is filed.”

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

“YarnLabs Directors and officers are required to review and sign the conflict of interest policy annually and are expected to disclose conflicts when they arise.To date no enforcement of the policy has been necessary as there have not been any conflicts. However, conflicts were consistently monitored as the Board was asked to consider and disclose any conflicts when making decisions for the organization.”

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

“When hiring employees, the YarnLabs Board considered whether compensation arrangements and benefits were reasonable, based on competent survey information and the result of arms length bargaining.”

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

“When hiring employees, the YarnLabs Board considered whether compensation arrangements and benefits were reasonable, based on competent survey information and the result of arms length bargaining.”

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

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
YarnLabs Inc
EIN
83-0638683
Phone
8285698491
Address
245 Main Street Floor 2, Cambridge, MA 02142

Signing Officer

Name
Morgan Binswanger
Title
Treasurer
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Morgan Binswanger
Formed
2018
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
11
Volunteers
5

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016-6517
Preparer
Michael Schall
Phone
2122682800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“YarnLabs does not believe its financial statements include any uncertain tax positions. Tax filings for periods ending December 31, 2018, the organization's initial filing, and later are subject to examination by applicable taxing authorities.”

Raw XML AppendixShowing 400 of 443 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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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt010674
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01000150
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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleD/RevenueSubtotalAmt02663011
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0YarnLabs does not believe its financial statements include any uncertain tax positions. Tax filings for periods ending December 31, 2018, the organization's initial filing, and later are subject to examination by applicable taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalExpensesPerForm990Amt01893290
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01893290
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt095200
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt1258720
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1Austraila
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grantmaking
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1Grantmaking
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IRS990ScheduleF/ForeignPartnershipInd0false
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0258720
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt195200
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0Innovation Project
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1Innovation Project
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0Australia
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1Europe
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IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalSpentAmt0353920
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0YamLabs monitors the performance of the projects funded by continuing communication with grantees and reviewing the progress and final reports.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US
IRS990ScheduleF/Total501c3OrgCnt02
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Innovation Information Initiative
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Innovation Information Initiative
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Boston University
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Natl Bureau of Econ Research
IRS990ScheduleI/RecipientTable/RecipientEIN0042103547
IRS990ScheduleI/RecipientTable/RecipientEIN1131641075
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0595 Commonwealth AveSte 700
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11050 Massachusetts Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Boston
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Cambridge
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IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc1FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0YarnLabs monitors the performance of the projects funded by continues communication with grantees and review of the progress and final reports.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
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IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A draft of the 990 is provided to each Board member for review. Board members are then asked to approve the Form 990 before it is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YarnLabs Directors and officers are required to review and sign the conflict of interest policy annually and are expected to disclose conflicts when they arise.To date no enforcement of the policy has been necessary as there have not been any conflicts. However, conflicts were consistently monitored as the Board was asked to consider and disclose any conflicts when making decisions for the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2When hiring employees, the YarnLabs Board considered whether compensation arrangements and benefits were reasonable, based on competent survey information and the result of arms length bargaining.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3When hiring employees, the YarnLabs Board considered whether compensation arrangements and benefits were reasonable, based on competent survey information and the result of arms length bargaining.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Documents are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,828,520
Liabilities
$58,649
Net assets
$1,769,871
Revenue
$2,663,011
Expenses
$1,893,290
Net income
$769,721
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.00$0.02$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.19$1.69$1.50
2019Detailed filing. Detailed filing data is available for this year.$1.83$0.06$1.77$2.66$1.89$0.77
2018Summary only. Only limited summary data is available for this year.$1.00$0.00$1.00$1.00$0.00$1.00