Civic Intelligence

The Octet Collaborative Inc.

990 • Fiscal year 2023 • EIN 84-4881059

Jul 01, 2022 to Jun 30, 2023 • Filed on Mar 28, 2024

Organization Profilewww.octetcollaborative.org
37 Avon StreetSomerville, MA 02143

(617) 285-3469

Siviq Scores

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

Liabilities / Assets

70th percentile

0.02x

Higher debt load relative to assets than 70% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.01x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

83rd percentile

32%

Higher net margin than 83% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

94th percentile

$60,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 27.6% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

92nd percentile

111%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

92nd percentile

134%

Faster revenue growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets70th percentile

Assets

Flat

$138,946

Flat from 2023

Net Assets

Flat

$136,324

Flat from 2023

Liabilities

Flat

$2,622

Flat from 2023

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin83rd percentile

Revenue

Flat

$217,658

Flat from 2023

Expenses

Flat

$146,991

Flat from 2023

Net Income

Flat

$70,667

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$150K$100K$50K$0Assets 2020: $35,102Liabilities 2020: $0Net Assets 2020: $35,1022020Assets 2021: $51,505Liabilities 2021: $0Net Assets 2021: $51,5052021Assets 2022: $65,807Liabilities 2022: $0Net Assets 2022: $65,8072022Assets 2023: $138,946Liabilities 2023: $2,622Net Assets 2023: $136,3242023Assets 2023: $138,946Liabilities 2023: $2,622Net Assets 2023: $136,3242023

Highlighted filing

2023

Assets$138,946
Liabilities$2,622
Net Assets$136,324
Open 2023 Filing

Operations Trend

Revenue Growth92nd percentile

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

$300K$200K$100K$0Revenue 2020: $35,102Expenses 2020: $0Net Income 2020: $35,1022020Revenue 2021: $156,181Expenses 2021: $139,778Net Income 2021: $16,4032021Revenue 2022: $93,100Expenses 2022: $78,798Net Income 2022: $14,3022022Revenue 2023: $217,658Expenses 2023: $146,991Net Income 2023: $70,6672023Revenue 2023: $217,658Expenses 2023: $146,991Net Income 2023: $70,6672023

Highlighted filing

2023

Revenue$217,658
Expenses$146,991
Net Income$70,667
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 28, 2024
Return Version
2022v5.0
Gross Receipts
$217,658
Mission and Program Overview

Mission

We are a community of faculty, staff, and students at mit dedicated to human flourishing, formed by the historic christian faith.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$65,657$138,946▲ $73,289
Accounts Receivable$150--
Total Assets$65,807$138,946▲ $73,139
Liabilities
Accounts Payable and Accrued Expenses-$2,622-
Other Liabilities-$0-
Total Liabilities$0$2,622▲ $2,622
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,640$136,051▲ $75,411
Net Assets With Donor Restrictions$5,167$273▼ $4,894
Total Net Assets Fund Balance$65,807$136,324▲ $70,517
Total Liabilities and Net Assets / Fund Balance$65,807$138,946▲ $73,139
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nathan BarcziSenior TheologianPT$60,000$60,000

Board Members and Trustees

NameTitle
Ruth ChangChair
David ChanVice Chair
David WilliamsonBoard Member
Ehi NosakhareBoard Member
Paul BurkeBoard Member
Mia Chung-yeeExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$216,703
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$955
All Other Contributions
$216,703
Change in Net Assets
$70,667
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$76,518
Salaries, Compensation, and Employee Benefits$70,473
Total Fundraising Expense$21,873
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$26,000$19,500$19,500$65,000
Fees for Services Other$19,946$2,426-$22,372
Fees for Services Accounting-$7,042-$7,042
Office Expenses$2,249$4,398$258$6,905
Travel$3,286$2,172$46$5,504
Other Expenses$5,204$0$0$5,204
Payroll Taxes$2,017$1,499$1,492$5,008
Insurance-$909-$909
Advertising--$577$577
Other Salaries and Wages$372$93-$465
Conferences and Meetings$100--$100
Total Functional Expenses$87,079$38,039$21,873$146,991
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
Annual disclosure for covered persons
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
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, Section B, Line 11B

“Executive director and board chair review the 990. The form 990 is provided to all board members for their review at the march board meeting.”

Form 990, Part VI, Section B, Line 12C

“Our board which includes our staff who serve in ex-officio roles, sign a conflict of interest form every year that is issued by our board chair.”

Form 990, Part VI, Section B, Line 15

“Only the compensation for the executive director is determined by the board. The executive director determines the salary or hourly compensation of all employees.”

Form 990, Part VI, Section C, Line 19

“Governing documents are made available to the public upon request. 990 forms can be accessed via irs.gov and guidestar.org.”

Filing and Contact Details

Filer

Filer Name
The Octet Collaborative Inc
EIN
84-4881059
Phone
6172853469
Address
37 AVON STREET, SOMERVILLE, MA 02143

Signing Officer

Name
Mia Chung-yee
Title
Executive Director
Phone
6172853469
Signed
2024-03-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mia Chung-yee
Formed
2019
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
5
Employees
3
Volunteers
6

Preparer

Firm
Easy Office Dba Jitasa
Address
1120 S RACKHAM WAY SUITE 300, MERIDIAN, ID 83642
Preparer
Jeremy Cork
Phone
2082874777
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“The organization has started a new program called dialogos and renamed higher pursuits program to a better future.”

Form 990, Part IX, Line 11G

“CONTRACTORS - GENERAL”

Financial Statement Notes

Schedule D, Part X, Line 2

“The organization follows the accounting for uncertainty in income taxes standard which requires the organization to report uncertain tax positions, related interest and penalties, and to adjust its assets and liabilities related to unrecognized tax benefits and accrued interest and penalties accordingly. As of june 30, 2023, the organization determined that there are no material unrecognized tax benefits to report.”

Raw XML Appendix399 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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IRS990/ProgSrvcAccomActy2Grp/Desc0DIÁLOGOS: DINNER AND DISCUSSION TO NURTURE INTELLECTUAL HOSPITALITY: HISTORICALLY SPEAKING, UNIVERSITIES HAVE ALWAYS VALUED PURSUING TRUTH WITH A SPIRIT OF DISCOVERY. THOUGH HIGHLY ASPIRATIONAL, THIS IS ONLY POSSIBLE WHEN A COMMUNITY VALUES INTELLECTUAL HOSPITALITY -- THE SUSTAINED PRACTICE OF HUMILITY, CURIOSITY, OPENNESS, AND GENUINE ENGAGEMENT. IN SUCH A COMMUNITY, PARTICIPANTS ARE MORE EAGER TO LISTEN THAN TO SPEAK, TO PURSUE UNDERSTANDING RATHER THAN CONFLICT, AND TO EMBRACE INTROSPECTION AND SELF-AWARENESS IN BALANCE WITH SELF-EXPRESSION. HARDLY A PASSIVE POSTURE, THIS KIND OF HOSPITALITY ENCOURAGES A RIGOROUS YET RESPECTFUL ENGAGEMENT WITH IDEAS THROUGH CRITICAL THINKING, DISCERNMENT, AND AN ENDURING WILLINGNESS TO CONSIDER AND RECONSIDER.
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IRS990/ProgSrvcAccomActy3Grp/Desc0A BETTER FUTURE: A COMMON REFRAIN AT MIT IS THAT ITS TECHNOLOGY AND RESEARCH GOALS ARE ALIGNED AROUND THE GREATER GOAL TO "INVENT A BETTER FUTURE". THE UNDERLYING INTENT IS LAUDABLE, BUT IT IS CLEAR THAT STUDENTS AND FACULTY RARELY HAVE THE TIME, SPACE, OR RESOURCES TO DEEPLY EXPLORE THE QUESTION - "WHAT IS A BETTER FUTURE?" WHAT SORT OF WORLD, IN OTHER WORDS, SHOULD WE BE SEEKING TO BUILD, BEYOND WHAT IS TECHNICALLY FEASIBLE, OR COMMERCIALLY VIABLE? A BETTER FUTURE IS A MULTI-YEAR INITIATIVE TO ADVANCE WISDOM WITHIN THE PRACTICE OF SCIENCE AND ENGINEERING BY OPENING SPACE FOR MIT STUDENTS, FACULTY, AND STAFF TO STEP BACK AND ASK WHAT KIND OF FUTURE IS TRULY WORTH BUILDING.
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt035102
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0501086
IRS990ScheduleA/TotalSupportAmt0502041
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD WHICH REQUIRES THE ORGANIZATION TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF JUNE 30, 2023, THE ORGANIZATION DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2
IRS990ScheduleD/TotalLiabilityAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS STARTED A NEW PROGRAM CALLED DIALOGOS AND RENAMED HIGHER PURSUITS PROGRAM TO A BETTER FUTURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXECUTIVE DIRECTOR AND BOARD CHAIR REVIEW THE 990. THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW AT THE MARCH BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUR BOARD WHICH INCLUDES OUR STAFF WHO SERVE IN EX-OFFICIO ROLES, SIGN A CONFLICT OF INTEREST FORM EVERY YEAR THAT IS ISSUED BY OUR BOARD CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ONLY THE COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED BY THE BOARD. THE EXECUTIVE DIRECTOR DETERMINES THE SALARY OR HOURLY COMPENSATION OF ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. 990 FORMS CAN BE ACCESSED VIA IRS.GOV AND GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACTORS - GENERAL
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt065807
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IRS990/TotalContributionsAmt0216703
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt021873
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt038039
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt087079
IRS990/TotalFunctionalExpensesGrp/TotalAmt0146991
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt02622
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt02622
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt065807
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0136324
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
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IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt060000
IRS990/TotalRevenueGrp/ExclusionAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0217658
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt065807
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt046
IRS990/TravelGrp/ManagementAndGeneralAmt02172
IRS990/TravelGrp/ProgramServicesAmt03286
IRS990/TravelGrp/TotalAmt05504
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt037 AVON STREET
IRS990/USAddress/CityNm0SOMERVILLE
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002143
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.octetcollaborative.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/LastSubmissionRqrOOBCd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/ProfileEmailAddressChangeInd0X
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd01
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIA CHUNG-YEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06172853469
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE OCTET COLLABORATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0OCTE
ReturnHeader/Filer/EIN0844881059
ReturnHeader/Filer/PhoneNum06172853469
ReturnHeader/Filer/USAddress/AddressLine1Txt037 AVON STREET
ReturnHeader/Filer/USAddress/CityNm0SOMERVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262176601
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EASY OFFICE DBA JITASA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01120 S RACKHAM WAY SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MERIDIAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ID
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd083642
ReturnHeader/PreparerPersonGrp/PhoneNum02082874777
ReturnHeader/PreparerPersonGrp/PreparationDt02024-03-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEREMY CORK
ReturnHeader/ReturnTs02024-03-28T05:50:59-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MIA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CHUNG-YEE
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$138,946
Liabilities
$2,622
Net assets
$136,324
Revenue
$217,658
Expenses
$146,991
Net income
$70,667
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.39$0.03$1.36$2.18$1.47$0.71
2023Summary only. Only limited summary data is available for this year.$1.39$0.03$1.36$2.18$1.47$0.71
2022Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.66$0.93$0.79$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.52$0.00$0.52$1.56$1.40$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.00$0.35$0.35$0.00$0.35