Civic Intelligence

Lean Rocket Lab

990 • Fiscal year 2021 • EIN 83-0792165

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 13, 2022

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

75th percentile

0.23x

Higher debt load relative to assets than 75% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

68th percentile

0.14x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

60th percentile

19%

Higher net margin than 60% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

89th percentile

$104,667

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

86th percentile

60%

Faster asset growth than 86% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

83rd percentile

79%

Faster revenue growth than 83% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$438,200

Up $164,324 (+60%) from 2020

Net Assets

Up

$338,685

Up $135,407 (+67%) from 2020

Liabilities

Up

$99,515

Up $28,917 (+41%) from 2020

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin60th percentile

Revenue

Up

$721,484

Up $319,423 (+79%) from 2020

Expenses

Up

$586,077

Up $193,621 (+49%) from 2020

Net Income

Up

$135,407

Up $125,802 (+1310%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth86th 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

2021

Assets$438,200
Liabilities$99,515
Net Assets$338,685
Open 2021 Filing

Operations Trend

Revenue Growth83rd 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

2021

Revenue$721,484
Expenses$586,077
Net Income$135,407
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 13, 2022
Return Version
2021v4.0
Gross Receipts
$721,484
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$143,616$159,138▲ $15,522
Pledges and Grants Receivable-$150,564-
Land, Buildings, and Equipment, Net$107,963$101,831▼ $6,132
Accounts Receivable$18,029$26,667▲ $8,638
Prepaid Expenses and Deferred Charges$4,268--
Total Assets$273,876$438,200▲ $164,324
Liabilities
Accounts Payable and Accrued Expenses$4,401$69,323▲ $64,922
Unsecured Notes Loans Payable$37,898--
Deferred Revenue$22,500$15,000▼ $7,500
Grants Payable-$10,000-
Other Liabilities$5,799$5,192▼ $607
Total Liabilities$70,598$99,515▲ $28,917
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$203,278$338,685▲ $135,407
Total Net Assets Fund Balance$203,278$338,685▲ $135,407
Total Liabilities and Net Assets / Fund Balance$273,876$438,200▲ $164,324

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$101,831$18,823$120,654
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brandon MarkenPresident/ceFT$104,667$104,667
Ken SeneffVP/secretaryFT$104,667$104,667
Jennifer RiveraTreasurer-$2,000$2,000

Board Members and Trustees

NameTitle
Alexandra MastenChair
David ShirkeyDirector
Nadia AbunasserDirector
Richard CollinsDirector
Sean HilbertDirector
Steve RickDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$553,182
Program Service Revenue
$168,302
Investment Income
$0
Other Revenue
$0
All Other Contributions
$195,647
Change in Net Assets
$135,407
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$349,963
Other Expenses$236,114
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$209,334--$209,334
Other Salaries and Wages$78,348--$78,348
Occupancy$62,787$6,977-$69,764
Fees for Services Other$43,808--$43,808
Other Employee Benefits$39,093--$39,093
Office Expenses$30,581$1,531-$32,112
Payroll Taxes$23,188--$23,188
Fees for Services Accounting-$21,643-$21,643
Advertising$9,216--$9,216
Depreciation Depletion$6,132--$6,132
Insurance$2,297$256-$2,553
Travel$1,806--$1,806
Other Expenses$40--$40
Total Functional Expenses$555,670$30,407$0$586,077
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
Security Deposits$2,814
Facade Loan$2,378
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
5173954151
Signed
2022-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alexandra Masten
Formed
2018
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
6
Employees
5

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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02814
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12378
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1FACADE LOAN
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IRS990ScheduleD/TotalLiabilityAmt05192
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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
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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/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0555670
IRS990/TotalFunctionalExpensesGrp/TotalAmt0586077
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt099515
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IRS990/TotalProgramServiceRevenueAmt0168302
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0721484
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IRS990/TravelGrp/TotalAmt01806
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt037898
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/PhoneNum05173954151
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-13
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/PreparationDt02022-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRADLEY S JOHNCOX CPA
ReturnHeader/ReturnTs02022-11-15T17:10:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JENNIFER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RIVERA
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$438,200
Liabilities
$99,515
Net assets
$338,685
Revenue
$721,484
Expenses
$586,077
Net income
$135,407
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