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Nonprofiteer
← LOOP LAB INC

Form 990 for tax year 2022

Filed by LOOP LAB INC.

Totals

Total revenue
$1,299,082
Total expenses
$777,613
Contributions and grants received
$1,238,880
Grants paid
$0
Program service revenue
$60,101
Investment income
$42
Other revenue
$59
Total assets, end of year
$1,062,451
Total liabilities, end of year
$171,440
Net assets or fund balances, end of year
$891,011
Program services expenses (Part IX)
$498,884
Management and general expenses
$201,352
Fundraising expenses
$77,377
Program service expenses (Part III)
$498,884

Program services were 64.2% 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.

  • 1e · Government grants (contributions)

    $4,550

  • 1f · All other contributions, gifts and grants

    $1,234,330

  • 1g · Noncash contributions included above

    $3,500

  • 2a · Program service revenue: PRODUCTION SERVICES RE

    total $60,101 · related or exempt $60,101

  • 3 · Investment income

    total $42 · excluded $42

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $59 · excluded $59

  • 11e · Other revenue, total

    $59

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $97,500 · program services $32,500 · management and general $32,500 · fundraising $32,500

  • 7 · Other salaries and wages

    total $197,975 · program services $122,924 · management and general $75,035 · fundraising $16

  • 9 · Other employee benefits

    total $4,211 · program services $2,215 · management and general $1,533 · fundraising $463

  • 10 · Payroll taxes

    total $22,634 · program services $11,906 · management and general $8,237 · fundraising $2,491

  • 11c · Fees: accounting

    total $29,409 · management and general $29,409

  • 11e · Fees: professional fundraising services

    total $38,907 · fundraising $38,907

  • 11g · Fees: other

    total $9,802 · program services $8,722 · management and general $1,080

  • 12 · Advertising and promotion

    total $27,457 · program services $24,946 · management and general $2,511

  • 14 · Information technology

    total $18,050 · program services $11,834 · management and general $6,216

  • 16 · Occupancy

    total $32,125 · program services $24,535 · management and general $7,590

  • 17 · Travel

    total $22,293 · program services $22,293

  • 20 · Interest

    total $3,337 · program services $2,670 · management and general $667

  • 22 · Depreciation, depletion and amortization

    total $5,434 · program services $4,347 · management and general $1,087

  • 23 · Insurance

    total $2,892 · program services $1,446 · management and general $1,446

  • 24a · Other expenses: CONTRACT LABOR

    total $138,011 · program services $123,359 · management and general $14,652

  • 24b · Other expenses: STIPENDS

    total $56,415 · program services $56,415

  • 24c · Other expenses: PRODUCTION COSTS

    total $38,158 · program services $30,140 · management and general $8,018

  • 24d · Other expenses: SMALL EQUIPMENT & FURNI

    total $20,871 · program services $10,193 · management and general $7,678 · fundraising $3,000

  • 24e · All other expenses

    total $12,132 · program services $8,439 · management and general $3,693

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $479,767 · end of year $650,961

  • 3 · Pledges and grants receivable

    end of year $350,145

  • 4 · Accounts receivable

    beginning of year $4,360 · end of year $5,225

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,600 · end of year $1,547

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

    $30,921

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

    $17,480

  • 10c · Land, buildings and equipment, net

    beginning of year $18,875 · end of year $13,441

  • 15 · Other assets

    beginning of year $0 · end of year $41,132

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,760 · end of year $17,464

  • 23 · Secured mortgages and notes payable

    beginning of year $116,300 · end of year $112,434

  • 25 · Other liabilities

    beginning of year $0 · end of year $41,542

  • 27 · Net assets without donor restrictions

    beginning of year $369,542 · end of year $534,621

  • 28 · Net assets with donor restrictions

    end of year $356,390

Mission and programs · 2022

Mission

TO EMPOWER WOMEN AND PEOPLE OF COLOR IN THE MEDIA ARTS TO DEVELOP CAREERS IN AUDIO/VIDEO THROUGH JOB TRAINING AND PLACEMENT.

Activities or mission (Part I)

THE LOOP LAB IS A NON-PROFIT SOCIAL ENTERPRISE SPECIALIZING IN WORKFORCE DEVELOPMENT AND DIGITAL STORYTELLING FOUNDED TO SERVE THE PORT NEIGHBORHOOD OF CAMBRIDGE. COMMITTED TO EMPOWERING WOMAN AND ADULTS OF COLOR FROM LOW INCOME BACKGROUNDS TO JOIN THE DIGITAL ECONOMY THROUGH CAREERS IN VIDEO, PHOTOGRAPHY, AND AUDIO. WE SUPPORT WITH ALUMNI AND STAFF WORKING ON THESE PROJECTS.

  • LOOP LAB ACADEMY- OUR ORGANIZATION OPERATES A FREE HIGH SCHOOL PRE-APPRENTICESHIP PROGRAM WHICH PREPARES STUDENTS FOR CAREERS IN THE MEDIA ARTS/AV INDUSTRIES. WE ALSO PROVIDE SUMMER PROGRAMMING FOR HIGH SCHOOL STUDENTS. WE ALSO RUN A STATE-REGISTERED MEDIA ARTS APPRENTICESHIP FOR 18-26 YEAR OLDS THAT PROVIDES PAID INTERNSHIPS AND ON-THE-JOB TRAINING FOR PARTICIPANTS.

    Expenses $374,163

  • LOOP LAB STUDIO- OUR ORGANIZATION OPERATES A VIDEO PRODUCTION STUDIO THAT PROVIDES LOW COST AND HIGH-QUALITY VIDEO SERVICES TO CULTURAL ARTS ORGANIZATIONS AND COMPANIES IN GREATER BOSTON. THE STUDIO HIRES MANY OF OUR ALUMNI, FUTHERS THEIR TRAINING, AND GENERATES REVENUE FOR THE ORGANIZATION.

    Expenses $124,721 · Revenue $60,101

As filed on the 2022 return.

Listed in Part VII

  • Christopher Hope

    EXECUTIVE DIRECTOR

    Total calculated
    $97,500
    From this org
    $97,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Troy Ellerbee

    CLERK

    Total calculated
    $13,225
    From this org
    $13,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Paul Lannon

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Geoff Keith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dawna Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carolina Santiago Morales

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lisa Peterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jonathan Wyner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Amanda Peters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Eve Bridburg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Linda Hope-Springer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • James Zaner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202343119349301124

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