Civic Intelligence

Lean Rocket Lab

990 • Fiscal year 2020 • EIN 83-0792165

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 08, 2021

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

82nd percentile

0.26x

Higher debt load relative to assets than 82% of similar nonprofits.

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

Liabilities / Revenue

82nd percentile

0.18x

Higher debt load relative to revenue than 82% of similar nonprofits.

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

Net Margin

46th percentile

2.4%

Higher net margin than 46% of similar nonprofits.

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

Top Officer Pay

97th percentile

$84,906

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 21.1% of source-year revenue.

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

Asset Growth

72nd percentile

30%

Faster asset growth than 72% of similar nonprofits.

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

Revenue Growth

62nd percentile

-1.6%

Faster revenue growth than 62% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$273,876

Up $62,589 (+30%) from 2019

Net Assets

Up

$203,278

Up $9,605 (+5.0%) from 2019

Liabilities

Up

$70,598

Up $52,984 (+301%) from 2019

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin46th percentile

Revenue

Down

$402,061

Down $6,598 (-1.6%) from 2019

Expenses

Up

$392,456

Up $82,975 (+27%) from 2019

Net Income

Down

$9,605

Down $89,573 (-90%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth72nd 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

2020

Assets$273,876
Liabilities$70,598
Net Assets$203,278
Open 2020 Filing

Operations Trend

Revenue Growth62nd 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

2020

Revenue$402,061
Expenses$392,456
Net Income$9,605
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 8, 2021
Return Version
2020v4.0
Gross Receipts
$402,061
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
Cash and Non-Interest-Bearing Accounts$96,802$143,616▲ $46,814
Land, Buildings, and Equipment, Net$114,095$107,963▼ $6,132
Accounts Receivable$390$18,029▲ $17,639
Prepaid Expenses and Deferred Charges-$4,268-
Total Assets$211,287$273,876▲ $62,589
Liabilities
Unsecured Notes Loans Payable-$37,898-
Deferred Revenue-$22,500-
Other Liabilities$6,457$5,799▼ $658
Accounts Payable and Accrued Expenses$11,157$4,401▼ $6,756
Total Liabilities$17,614$70,598▲ $52,984
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$193,673$203,278▲ $9,605
Total Net Assets Fund Balance$193,673$203,278▲ $9,605
Total Liabilities and Net Assets / Fund Balance$211,287$273,876▲ $62,589

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$107,963$12,691$120,654
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brandon MarkenPresident/ceFT$84,906$84,906
Ken SenefSecretaryFT$84,494$84,494

Board Members and Trustees

NameTitle
Nick ArcaroChair
Alexandra MastenDirector
David ShirkeyDirector
Richard CollinsDirector
Steve RickDirector
Jennifer RiveraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$302,128
Program Service Revenue
$99,933
Investment Income
$0
Other Revenue
$0
All Other Contributions
$174,628
Change in Net Assets
$9,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$246,822
Other Expenses$145,634
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$169,800--$169,800
Occupancy$57,357$6,374-$63,731
Other Employee Benefits$31,115--$31,115
Other Salaries and Wages$29,901--$29,901
Office Expenses$19,086$1,164-$20,250
Payroll Taxes$16,006--$16,006
Advertising$10,045--$10,045
Fees for Services Accounting-$9,510-$9,510
Depreciation Depletion$6,132--$6,132
Fees for Services Other$5,317--$5,317
Other Expenses$1,179--$1,179
Insurance$705$78-$783
Travel$564--$564
Total Functional Expenses$375,330$17,126$0$392,456
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$2,985
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
2021-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nick Arcaro
Formed
2018
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
6
Employees
3

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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0MARKEN CONSULTING LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OFFICE RENTAL
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0OFFICE RENTAL AT FMV
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LEAN 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.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0375330
IRS990/TotalFunctionalExpensesGrp/TotalAmt0392456
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt070598
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IRS990/TotalLiabilitiesGrp/EOYAmt070598
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0203278
IRS990/TotalProgramServiceExpensesAmt0375330
IRS990/TotalProgramServiceRevenueAmt099933
IRS990/TotalReportableCompFromOrgAmt0169400
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt099933
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0402061
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0273876
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IRS990/TravelGrp/TotalAmt0564
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IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0133 W MICHIGAN AVE
IRS990/USAddress/CityNm0JACKSON
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049201
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.LEANROCKETLAB.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER RIVERA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05177870064
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEAN ROCKET LAB
ReturnHeader/Filer/BusinessNameControlTxt0LEAN
ReturnHeader/Filer/EIN0830792165
ReturnHeader/Filer/PhoneNum05173954151
ReturnHeader/Filer/USAddress/AddressLine1Txt0133 W MICHIGAN AVE
ReturnHeader/Filer/USAddress/CityNm0JACKSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049201
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0381961213
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LALLY GROUP PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1066
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0JACKSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0492041066
ReturnHeader/PreparerPersonGrp/PhoneNum05177870064
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRADLEY S JOHNCOX CPA
ReturnHeader/ReturnTs02021-11-15T12:42:36-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JENNIFER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RIVERA
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$273,876
Liabilities
$70,598
Net assets
$203,278
Revenue
$402,061
Expenses
$392,456
Net income
$9,605
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