Civic Intelligence

Institute for Energy And

990 • Fiscal year 2022 • EIN 90-0542706

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 16, 2023

Organization ProfileWORCLAB.COM
44 Portland Street 4th FloorWorcester, MA 01608

(508) 751-4639

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

30th percentile

-6.6%

Higher net margin than 30% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

29th percentile

-12%

Faster asset growth than 29% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

25th percentile

-18%

Faster revenue growth than 25% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$103,047

Down $13,700 (-12%) from 2021

Net Assets

Down

$103,047

Down $11,456 (-10%) from 2021

Liabilities

Down

$0

Down $2,244 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin30th percentile

Revenue

Down

$172,546

Down $38,491 (-18%) from 2021

Expenses

Up

$184,002

Up $26,739 (+17%) from 2021

Net Income

Down

-$11,456

Down $65,230 (-121%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$200K$150K$100K$50K$0Assets 2010: $4,988Liabilities 2010: $02010Assets 2011: $6,425Liabilities 2011: $0Net Assets 2011: $6,4252011Assets 2012: $11,570Liabilities 2012: $0Net Assets 2012: $11,5702012Assets 2013: $32,946Liabilities 2013: $02013Assets 2014: $4,796Liabilities 2014: $02014Assets 2015: $39,963Liabilities 2015: $02015Assets 2016: $58,006Liabilities 2016: $02016Assets 2017: $87,647Net Assets 2017: $87,6472017Assets 2018: $103,736Liabilities 2018: $6,500Net Assets 2018: $97,2362018Assets 2019: $118,840Net Assets 2019: $118,8402019Assets 2020: $82,269Liabilities 2020: $20,887Net Assets 2020: $61,3822020Assets 2021: $116,747Liabilities 2021: $2,244Net Assets 2021: $114,5032021Assets 2022: $103,047Liabilities 2022: $0Net Assets 2022: $103,0472022Assets 2023: $145,821Liabilities 2023: $0Net Assets 2023: $145,8212023Assets 2024: $164,027Liabilities 2024: $0Net Assets 2024: $164,0272024

Highlighted filing

2022

Assets$103,047
Liabilities$0
Net Assets$103,047
Open 2022 Filing

Operations Trend

Revenue Growth25th percentile

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

$300K$200K$100K$0-$100KRevenue 2010: $134,530Expenses 2010: $129,542Net Income 2010: $4,9882010Revenue 2011: $126,105Expenses 2011: $124,668Net Income 2011: $1,4372011Revenue 2012: $74,320Expenses 2012: $69,175Net Income 2012: $5,1452012Revenue 2013: $64,625Expenses 2013: $43,249Net Income 2013: $21,3762013Revenue 2014: $575Expenses 2014: $28,725Net Income 2014: -$28,1502014Revenue 2015: $118,874Expenses 2015: $83,707Net Income 2015: $35,1672015Revenue 2016: $197,586Expenses 2016: $179,543Net Income 2016: $18,0432016Revenue 2017: $199,699Expenses 2017: $170,061Net Income 2017: $29,6382017Revenue 2018: $196,999Expenses 2018: $187,410Net Income 2018: $9,5892018Revenue 2019: $170,081Expenses 2019: $148,477Net Income 2019: $21,6042019Revenue 2020: $125,876Expenses 2020: $192,632Net Income 2020: -$66,7562020Revenue 2021: $211,037Expenses 2021: $157,263Net Income 2021: $53,7742021Revenue 2022: $172,546Expenses 2022: $184,002Net Income 2022: -$11,4562022Revenue 2023: $231,873Expenses 2023: $189,099Net Income 2023: $42,7742023Revenue 2024: $210,184Expenses 2024: $191,980Net Income 2024: $18,2042024

Highlighted filing

2022

Revenue$172,546
Expenses$184,002
Net Income-$11,456
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 16, 2023
Return Version
2022v5.0
Gross Receipts
$172,546
Mission and Program Overview

Mission

We aim to be a collaborative, diverse and inspiring community where innovators can launch and grow their business. Worclab's incubator facilities lower the barrier to success for startups by providing cost- effective offices and prototyping space, equipment, resources and programming.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$77,725$68,622▼ $9,103
Cash and Non-Interest-Bearing Accounts$39,022$34,425▼ $4,597
Total Assets$116,747$103,047▼ $13,700
Liabilities
Other Liabilities$2,244--
Total Liabilities$2,244$0▼ $2,244
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$114,503$103,047▼ $11,456
Total Net Assets Fund Balance$114,503$103,047▼ $11,456
Total Liabilities and Net Assets / Fund Balance$116,747$103,047▼ $13,700

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$68,622$36,508$105,130
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Larry GenovesiChairman
Elyson Dos SantosDirector
Greg CroninDirector
Julian WadeDirector
Michael CooperDirector
Jack FoleyClerk
Linda LooftTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$172,546
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$4,670
Change in Net Assets
$-11,456
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$128,107
Salaries, Compensation, and Employee Benefits$55,895
Total Fundraising Expense$689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$76,436$8,493-$84,929
Other Salaries and Wages$51,923--$51,923
Depreciation Depletion$8,193$910-$9,103
Insurance-$5,339-$5,339
Office Expenses-$4,100-$4,100
Payroll Taxes$2,185$1,390$397$3,972
Fees for Services Accounting$3,390--$3,390
All Other Expenses$3,005$139-$3,144
Other Expenses$1,605$2,847$292$2,847
Advertising$1,118--$1,118
Total Functional Expenses$158,532$24,781$689$184,002
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
No
Backup withholding compliance
No
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
No
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

“No review was or will be conducted.”

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

“Executive driector's salary is subject to annual review by the board of directors”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Worclab Inc
EIN
90-0542706
Phone
5087514639
Address
44 PORTLAND STREET 4TH FLOOR, WORCESTER, MA 01608

Signing Officer

Name
Linda Looft
Title
Treasurer
Phone
5087514639
Signed
2023-11-16

Organization Details

Principal Officer
Linda Looft
Formed
2010
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
S&g Llp
Address
100 FRONT STREET 16TH FLOOR, WORCESTER, MA 01608
Preparer
Joshua P Lapan CPA
Phone
5087573311
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“We aim to be a collaborative, diverse and inspiring community where innovators can launch and grow their business. Worclab's incubator facilities lower the barrier to success for startups by providing cost- effective offices and prototyping space, equipment, resources and programming.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE AIM TO BE A COLLABORATIVE, DIVERSE AND INSPIRING COMMUNITY WHERE INNOVATORS CAN LAUNCH AND GROW THEIR BUSINESS. WORCLAB'S INCUBATOR FACILITIES LOWER THE BARRIER TO SUCCESS FOR STARTUPS BY PROVIDING COST- EFFECTIVE OFFICES AND PROTOTYPING SPACE, EQUIPMENT, RESOURCES AND PROGRAMMING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DRIECTOR'S SALARY IS SUBJECT TO ANNUAL REVIEW BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC 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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0116747
IRS990/TotalAssetsEOYAmt0103047
IRS990/TotalAssetsGrp/BOYAmt0116747
IRS990/TotalAssetsGrp/EOYAmt0103047
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0172546
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0689
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024781
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0158532
IRS990/TotalFunctionalExpensesGrp/TotalAmt0184002
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02244
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt02244
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0114503
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0103047
IRS990/TotalProgramServiceExpensesAmt0158532
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0172546
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0116747
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0103047
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012 BALDWIN STREET
IRS990/USAddress/CityNm0LEICESTER
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001524
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WORCLAB.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA LOOFT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05087514639
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WORCLAB INC
ReturnHeader/Filer/BusinessNameControlTxt0WORC
ReturnHeader/Filer/EIN0900542706
ReturnHeader/Filer/PhoneNum05087514639
ReturnHeader/Filer/USAddress/AddressLine1Txt044 PORTLAND STREET 4TH FLOOR
ReturnHeader/Filer/USAddress/CityNm0WORCESTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001608
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042701070
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0S&G LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 FRONT STREET 16TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WORCESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001608
ReturnHeader/PreparerPersonGrp/PhoneNum05087573311
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSHUA P LAPAN CPA
ReturnHeader/ReturnTs02023-11-16T10:16:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LINDA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LOOFT
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$103,047
Liabilities
$0
Net assets
$103,047
Revenue
$172,546
Expenses
$184,002
Net income
-$11,456
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.00$1.64$2.10$1.92$0.18
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$0.00$1.46$2.32$1.89$0.43
2022Detailed filing. Detailed filing data is available for this year.$1.03$0.00$1.03$1.73$1.84$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.02$1.15$2.11$1.57$0.54
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.82$0.21$0.61$1.26$1.93$0.67
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.19$1.19$1.70$1.48$0.22
2018Detailed filing. Detailed filing data is available for this year.$1.04$0.07$0.97$1.97$1.87$0.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.88$0.88$2.00$1.70$0.30
2016Summary only. Only limited summary data is available for this year.$0.58$0.00$1.98$1.80$0.18
2015Summary only. Only limited summary data is available for this year.$0.40$0.00$1.19$0.84$0.35
2014Summary only. Only limited summary data is available for this year.$0.05$0.00$0.01$0.29$0.28
2013Summary only. Only limited summary data is available for this year.$0.33$0.00$0.65$0.43$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.12$0.00$0.12$0.74$0.69$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.00$0.06$1.26$1.25$0.01
2010Summary only. Only limited summary data is available for this year.$0.05$0.00$1.35$1.30$0.05