Civic Intelligence

Lean Rocket Lab

990 • Fiscal year 2019 • EIN 83-0792165

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

Organization ProfileWWW.LEANROCKETLAB.ORG
133 W Michigan AveJackson, MI 49201

(517) 395-4151

Siviq Scores

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

Liabilities / Assets

77th percentile

0.08x

Higher debt load relative to assets than 77% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

76th percentile

0.04x

Higher debt load relative to revenue than 76% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

79th percentile

24%

Higher net margin than 79% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

91st percentile

$44,262

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

90th percentile

89%

Faster asset growth than 90% of similar nonprofits.

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

Revenue Growth

96th percentile

182%

Faster revenue growth than 96% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$211,287

Up $99,737 (+89%) from 2018

Net Assets

Up

$193,673

Up $99,178 (+105%) from 2018

Liabilities

Up

$17,614

Up $559 (+3.3%) from 2018

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin79th percentile

Revenue

Up

$408,659

Up $263,894 (+182%) from 2018

Expenses

Up

$309,481

Up $259,211 (+516%) from 2018

Net Income

Up

$99,178

Up $4,683 (+5.0%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$1.5M$1.0M$500K$0Assets 2018: $111,550Liabilities 2018: $17,055Net Assets 2018: $94,4952018Assets 2019: $211,287Liabilities 2019: $17,614Net Assets 2019: $193,6732019Assets 2020: $273,876Liabilities 2020: $70,598Net Assets 2020: $203,2782020Assets 2021: $438,200Liabilities 2021: $99,515Net Assets 2021: $338,6852021Assets 2022: $478,350Liabilities 2022: $111,678Net Assets 2022: $366,6722022Assets 2023: $409,764Liabilities 2023: $87,834Net Assets 2023: $321,9302023Assets 2024: $1,167,056Liabilities 2024: $546,910Net Assets 2024: $620,1462024

Highlighted filing

2019

Assets$211,287
Liabilities$17,614
Net Assets$193,673
Open 2019 Filing

Operations Trend

Revenue Growth96th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2018: $144,765Expenses 2018: $50,270Net Income 2018: $94,4952018Revenue 2019: $408,659Expenses 2019: $309,481Net Income 2019: $99,1782019Revenue 2020: $402,061Expenses 2020: $392,456Net Income 2020: $9,6052020Revenue 2021: $721,484Expenses 2021: $586,077Net Income 2021: $135,4072021Revenue 2022: $798,315Expenses 2022: $770,328Net Income 2022: $27,9872022Revenue 2023: $752,411Expenses 2023: $782,877Net Income 2023: -$30,4662023Revenue 2024: $1,945,351Expenses 2024: $1,647,135Net Income 2024: $298,2162024

Highlighted filing

2019

Revenue$408,659
Expenses$309,481
Net Income$99,178
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.0
Gross Receipts
$408,659
Mission and Program Overview

Mission

Lean rocket lab removes common barriers to innovation by providing a collaborative workspace full of high energy entrepreneurs, advanced educational programming, helpful business resources, and access to various stages of capital so businesses or products can launch and thrive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$99,928$114,095▲ $14,167
Cash and Non-Interest-Bearing Accounts$11,622$96,802▲ $85,180
Accounts Receivable-$390-
Total Assets$111,550$211,287▲ $99,737
Liabilities
Accounts Payable and Accrued Expenses$3,267$11,157▲ $7,890
Deferred Revenue$7,193--
Other Liabilities$6,595$6,457▼ $138
Total Liabilities$17,055$17,614▲ $559
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$94,495$193,673▲ $99,178
Total Net Assets Fund Balance$94,495$193,673▲ $99,178
Total Liabilities and Net Assets / Fund Balance$111,550$211,287▲ $99,737

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$114,095$6,559$120,654
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brandon MarkenDirectorPT$34,525$9,737$44,262
Ken SenefSecretaryPT$17,930$9,785$27,715

Board Members and Trustees

NameTitle
Nick ArcaroChair
David ShirkeyDirector
Steve RickDirector
Tim RogersDirector
Jennifer RiveraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$327,120
Program Service Revenue
$81,539
Investment Income
$0
Other Revenue
$0
All Other Contributions
$192,120
Change in Net Assets
$99,178

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 Amount
Other Non Cash Contri Table1$31,200
Total Noncash Contributions1$31,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$178,936
Salaries, Compensation, and Employee Benefits$130,545
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$58,728$6,525-$65,253
Current Officers, Directors, Trustees, and Key Employees$47,210$5,245-$52,455
Other Salaries and Wages$45,880--$45,880
Office Expenses$24,300$1,712-$26,012
Other Employee Benefits$23,705--$23,705
Fees for Services Other$21,294--$21,294
Payroll Taxes$8,505--$8,505
Depreciation Depletion$6,089--$6,089
Fees for Services Accounting-$5,241-$5,241
Insurance$2,551$1,591-$4,142
Travel$2,654--$2,654
Advertising$1,825--$1,825
Other Expenses$450--$450
Total Functional Expenses$289,167$20,314$0$309,481
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
Facade Loan$3,643
Security Deposits$2,814
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
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, Page 6, Part VI, Line 11B

“The form 990 was made available to the board of directors before it was filed. The board of directors has delegated the detailed review of the form 990 to management.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest policy is presented to the board annually . Officers and directors are required to disclose any conflicts of interest.”

Form 990, Page 6, Part VI, Line 15A

“Compensation packages for the ceo, executive driector, and top management officials are approved by the board in advance.”

Form 990, Page 6, Part VI, Line 15B

“If applicable, all compensation for officers or key employees is approved by the board in advance.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Lean Rocket Lab
EIN
83-0792165
Phone
5173954151
Address
133 W MICHIGAN AVE, JACKSON, MI 49201

Signing Officer

Name
Jennifer Rivera
Title
Treasurer
Phone
5177870064
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nick Arcaro
Formed
2018
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
5
Employees
4

Preparer

Firm
Lally Group Pc
Address
PO BOX 1066, JACKSON, MI 49204-1066
Preparer
Bradley S Johncox CPA
Phone
5177870064
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Lean rocket lab removes common barriers to innovation by providing a collaborative workspace full of high energy entrepreneurs, advanced educational programming, helpful business resources, and access to various stages of capital so businesses or products can launch and thrive.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WAS MADE AVAILABLE TO THE BOARD OF DIRECTORS BEFORE IT WAS FILED. THE BOARD OF DIRECTORS HAS DELEGATED THE DETAILED REVIEW OF THE FORM 990 TO MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICT OF INTEREST POLICY IS PRESENTED TO THE BOARD ANNUALLY . OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION PACKAGES FOR THE CEO, EXECUTIVE DRIECTOR, AND TOP MANAGEMENT OFFICIALS ARE APPROVED BY THE BOARD IN ADVANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IF APPLICABLE, ALL COMPENSATION FOR OFFICERS OR KEY EMPLOYEES IS APPROVED BY THE BOARD IN ADVANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-12
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRADLEY S JOHNCOX CPA
ReturnHeader/ReturnTs02020-11-16T15:25:56-06:00
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ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$211,287
Liabilities
$17,614
Net assets
$193,673
Revenue
$408,659
Expenses
$309,481
Net income
$99,178
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.17$0.55$0.62$1.95$1.65$0.30
2023Detailed filing. Detailed filing data is available for this year.$0.41$0.09$0.32$0.75$0.78$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.48$0.11$0.37$0.80$0.77$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.44$0.10$0.34$0.72$0.59$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.27$0.07$0.20$0.40$0.39$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.21$0.02$0.19$0.41$0.31$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.11$0.02$0.09$0.14$0.05$0.09