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← FAB FOUNDATION

Form 990 for tax year 2022

Filed by FAB FOUNDATION.

Totals

Total revenue
$2,649,329
Total expenses
$3,735,780
Contributions and grants received
$1,095,819
Grants paid
$1,350,757
Program service revenue
$1,553,428
Investment income
$82
Other revenue
$0
Total assets, end of year
$3,453,460
Total liabilities, end of year
$1,487,679
Net assets or fund balances, end of year
$1,965,781
Program services expenses (Part IX)
$3,406,952
Management and general expenses
$320,041
Fundraising expenses
$8,787
Program service expenses (Part III)
$3,406,952

Program services were 91.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,095,819

  • 2a · Program service revenue: TUITION

    total $833,188 · related or exempt $833,188

  • 2b · Program service revenue: CONTRACTS

    total $634,152 · related or exempt $634,152

  • 2c · Program service revenue: CONFERENCE FEES

    total $86,088 · related or exempt $86,088

  • 3 · Investment income

    total $82 · excluded $82

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $35,000 · program services $35,000

  • 2 · Grants to domestic individuals

    total $1,258 · program services $1,258

  • 3 · Grants to foreign organizations and individuals

    total $1,314,499 · program services $1,314,499

  • 5 · Compensation of officers, directors and key employees

    total $165,500 · program services $148,850 · management and general $8,325 · fundraising $8,325

  • 7 · Other salaries and wages

    total $111,164 · program services $111,164

  • 10 · Payroll taxes

    total $8,087 · program services $7,279 · management and general $404 · fundraising $404

  • 11b · Fees: legal

    total $6,495 · program services $5,231 · management and general $1,264

  • 11c · Fees: accounting

    total $95,100 · management and general $95,100

  • 11g · Fees: other

    total $915,950 · program services $881,049 · management and general $34,901

  • 12 · Advertising and promotion

    total $4,568 · program services $978 · management and general $3,590

  • 13 · Office expenses

    total $44,634 · program services $19,353 · management and general $25,240 · fundraising $41

  • 16 · Occupancy

    total $16,031 · management and general $16,031

  • 17 · Travel

    total $97,426 · program services $91,747 · management and general $5,679

  • 19 · Conferences, conventions and meetings

    total $136,903 · program services $135,331 · management and general $1,572

  • 20 · Interest

    total $15,725 · management and general $15,725

  • 22 · Depreciation, depletion and amortization

    total $64,623 · management and general $64,623

  • 23 · Insurance

    total $39,153 · program services $6,012 · management and general $33,124 · fundraising $17

  • 24a · Other expenses: LAB COMPONENTS

    total $662,764 · program services $649,201 · management and general $13,563

  • 24b · Other expenses: STATE FILING FEES

    total $700 · management and general $700

  • 24c · Other expenses: GRANT AND AWARDS ADMINI

    total $200 · management and general $200

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,291,418 · end of year $2,511,123

  • 2 · Savings and temporary cash investments

    beginning of year $1,012,597 · end of year $52,867

  • 3 · Pledges and grants receivable

    beginning of year $1,038,000 · end of year $564,593

  • 4 · Accounts receivable

    beginning of year $247,153 · end of year $244,109

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,836 · end of year $5,337

  • 10a · Land, buildings and equipment: cost or other basis

    $1,253,964

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,179,721

  • 10c · Land, buildings and equipment, net

    beginning of year $738 · end of year $74,243

  • 15 · Other assets

    beginning of year $1,188 · end of year $1,188

  • 17 · Accounts payable and accrued expenses

    beginning of year $272,634 · end of year $399,152

  • 18 · Grants payable

    end of year $869,566

  • 19 · Deferred revenue

    beginning of year $255,056 · end of year $83,961

  • 23 · Secured mortgages and notes payable

    beginning of year $135,000 · end of year $135,000

  • 27 · Net assets without donor restrictions

    beginning of year -$57,932 · end of year $415,920

  • 28 · Net assets with donor restrictions

    beginning of year $2,998,172 · end of year $1,549,861

Mission and programs · 2022

Mission

THE FAB FOUNDATION WAS FORMED FEBRUARY 6, 2009 TO FACILITATE AND SUPPORT THE GROWTH OF THE INTERNATIONAL FAB LAB NETWORK. THE FAB FOUNDATION IS A US NON-PROFIT 501(C)(3) ORGANIZATION EMERGING FROM THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S CENTER FOR BITS & ATOMS' (CBA) INTERNATIONAL FAB LAB OUTREACH PROGRAM. OUR MISSION IS TO PROVIDE ACCESS TO THE TOOLS, THE KNOWLEDGE AND THE FINANCIAL MEANS TO EDUCATE, INNOVATE AND INVENT USING TECHNOLOGY AND DIGITAL FABRICATION TO ALLOW ANYONE TO MAKE (ALMOST) ANYTHING, AND THEREBY CREATING OPPORTUNITIES TO IMPROVE LIVES AND LIVELIHOODS AROUND THE WORLD. COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND NON-PROFIT CONCERNS ARE OUR PRIMARY BENEFICIARIES.

Activities or mission (Part I)

THE FAB FOUNDATION WAS FORMED FEBRUARY 6, 2009 TO FACILITATE AND SUPPORT THE GROWTH OF THE INTERNATIONAL FAB LAB NETWORK. THE FAB FOUNDATION IS A US NON-PROFIT 501(C)(3) ORGANIZATION EMERGING FROM THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S CENTER FOR BITS & ATOMS (CBA) INTERNATIONAL FAB LAB OUTREACH PROGRAM. OUR MISSION IS TO PROVIDE ACCESS TO THE TOOLS, THE KNOWLEDGE AND THE FINANCIAL MEANS TO EDUCATE, INNOVATE AND INVENT USING TECHNOLOGY AND DIGITAL FABRICATION TO ALLOW ANYONE TO MAKE (ALMOST) ANYTHING, AND THEREBY CREATING OPPORTUNITIES TO IMPROVE LIVES AND LIVELIHOODS AROUND THE WORLD. COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND NON-PROFIT CONCERNS ARE OUR PRIMARY BENEFICIARIES.

  • THE ORGANIZATION PROMOTES DIGITAL FABRICATION BY FACILITATING THE DEVELOPMENT OF COMMUNITY-BASED AND EDUCATIONAL FAB LABS, THE DISSEMINATION OF BEST PRACTICES IN DIGITAL FABRICATION THROUGHOUT THE FAB LAB NETWORK, FACILITATION AND DISSEMINATION OF RESEARCH AND COMMUNITY-BENEFICIAL PROJECTS, THE FUNDING AND FACILITATION OF FAB LAB AND DIGITAL FABRICATION PROJECTS THAT BENEFIT PEOPLE AND COMMUNITIES IN EXEMPLARY WAYS, SUCH AS MOBILE FAB LABS FOR EMERGENCY AID, OR FAB LABS FOR DEVELOPING WORLD CONTEXTS. THESE SERVICES INCLUDE DEPLOYING, INSTALLING, TRAINING, AND CONSULTING FOR NEW FAB LABS AS WELL AS PROGRAMMATIC SUPPORT OF ESTABLISHED FAB LABS. THE ORGANIZATION WORKS TO GATHER AND PROVIDE CRITICAL EVALUATION DATA AS WELL AS PROVIDE TOOLS FOR TRACKING THE IMPACT OF FAB LABS IN EDUCATIONAL, BUSINESS AND SOCIAL CONTEXTS. AS PART OF ITS SERVICES, THE ORGANIZATION PROVIDES A NETWORK FUNCTION FOR THE FAB LAB COMMUNITY, BRINGING TOGETHER FAB LABS AROUND THE WORLD EITHER PHYSICALLY (FOR ANNUAL MEETINGS AND WORKSHOPS) OR VIRTUALLY THROUGH ONLINE TOOLS AND RESOURCES. ADDITIONALLY, AS A RESOURCE TO EDUCATIONAL ORGANIZATIONS, ENTREPRENEURIAL ORGANIZATIONS AND THE GENERAL PUBLIC THE ORGANIZATION HAS DEVELOPED AN ONLINE GLOBAL MAP OF FAB LABS, MAKERSPACES, AND INNOVATION SPACES SUCH THAT PEOPLE OR ORGANIZATIONS THAT NEED ACCESS TO THESE FACILITIES CAN FIND THEM EASILY.

    Expenses $2,712,718 · Grants $1,350,757 · Revenue $720,240

  • THE ORGANIZATION BRINGS DIGITAL FABRICATION TOOLS AND PROCESSES TO PEOPLE OF ALL AGES, TEACHING THE SKILLS AND KNOWLEDGE OF DIGITAL FABRICATION, DEVELOPING CURRICULUM FOR FORMAL AND INFORMAL EDUCATIONAL SETTINGS, AS WELL AS DESIGNING AND OFFERING PROFESSIONAL DEVELOPMENT TRAINING PROGRAMS FOR TEACHERS, FAB LAB MANAGERS AND OTHER PROFESSIONALS. THE ORGANIZATION OFFERS ADVANCED TECHNICAL EDUCATION THROUGH THE FAB ACADEMY WHICH PROVIDES INSTRUCTION AND SUPERVISES INVESTIGATION OF MECHANISMS, APPLICATIONS, AND IMPLICATIONS OF DIGITAL FABRICATION AND OTHER TECHNOLOGIES. THE FAB ACADEMY IS A WORLDWIDE, DISTRIBUTED CAMPUS UTILIZING FAB LABS AS CLASSROOMS AND LIBRARIES FOR A NEW KIND OF TECHNICAL LITERACY. THE ORGANIZATION ALSO PROVIDES PROFESSIONAL DEVELOPMENT AND RESOURCES FOR K12 TEACHERS AND EDUCATORS THROUGH ITS SCOPES-DF WEBSITE AND RESEARCH PLATFORM (SCOPESDF.ORG). THIS SITE SHARES RESOURCES AND DISSEMINATES BEST EDUCATIONAL PRACTICES FOR EDUCATORS USING DIGITAL FABRICATION TO TEACH STEM DISCIPLINES AND SKILLS.

    Expenses $694,234 · Revenue $833,188

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sherry Lassiter

    PRESIDENT/DIRECTOR

    Total calculated
    $55,500
    From this org
    $55,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Neil Gershenfeld

    CHAIRMAN/DIRECTOR/CONSULTANT

    Total calculated
    $110,000
    From this org
    $110,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Marie Planchard

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Blair Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katie Rast

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Luciano Betoldi

    INTERNATIONAL OPERATIONS DIRECTOR

    Total calculated
    $105,500
    From this org
    $105,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • SHIFT 7 LLC

    $20,000

    FISCAL SPONSORSHIP TO PROMOTE THE LEVERAGING OF TECHNOLOGIES TO PROMOTE SOCIAL INNOVATIONS GLOBALLY.

  • MANTLES & MAKERS INC

    $15,000

    FISCAL SPONSORSHIP FOR FAB HOUSE

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202313129349303431

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