Fab Foundation, operating under the name Fab Academy, is located in Boston, MA. The organization was established in 2011. According to its NTEE Classification (U42) the organization is classified as: Engineering, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Fab Academy employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fab Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Fab Academy generated $3.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Fab Academy has awarded 15 individual grants totaling $2,709,756. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Sonya Pryor Jones Chief Implementation Offic | 40 | $120,357 | |
Neil Gershenfeld Chairman/director/consultant | OfficerTrustee | 1 | $117,000 |
Sherry Lassiter President/director | OfficerTrustee | 20 | $55,500 |
Marie Planchard Treasurer/director | OfficerTrustee | 1 | $0 |
Katie Rast Secretary/director | OfficerTrustee | 1 | $0 |
Blair Evans Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Institut D' Arquitectura Fab Academy Consulting | 12/30/21 | $163,877 |
Sa Fab City Foundation Program Consulting | 12/30/21 | $325,000 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $253,256 |
All other contributions, gifts, grants, and similar amounts not included above | $1,968,484 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,221,740 |
Total Program Service Revenue | $1,381,681 |
Investment income | $568 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,603,989 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $349,821 |
Grants and other assistance to domestic individuals. | $500 |
Grants and other assistance to Foreign Orgs/Individuals | $600 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $172,714 |
Compensation of current officers, directors, key employees. | $8,357 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $477,849 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $37,707 |
Payroll taxes | $46,823 |
Fees for services: Management | $0 |
Fees for services: Legal | $11,643 |
Fees for services: Accounting | $101,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,224,786 |
Advertising and promotion | $3,677 |
Office expenses | $63,081 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $19,876 |
Travel | $17,347 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $2,032 |
Interest | $15,390 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $739 |
Insurance | $39,054 |
All other expenses | $0 |
Total functional expenses | $3,187,148 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,291,418 |
Savings and temporary cash investments | $1,012,597 |
Pledges and grants receivable | $1,038,000 |
Accounts receivable, net | $247,153 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $11,836 |
Net Land, buildings, and equipment | $738 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,188 |
Total assets | $3,602,930 |
Accounts payable and accrued expenses | $272,634 |
Grants payable | $0 |
Deferred revenue | $255,056 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $135,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $662,690 |
Net assets without donor restrictions | -$57,932 |
Net assets with donor restrictions | $2,998,172 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $3,602,930 |
Over the last fiscal year, Fab Foundation has awarded $349,660 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
SHIFT 7 LLC PURPOSE: FISCAL SPONSORSHIP FOR PERSONAL PROTECTIVE EQUIPMENT, UN SOLUTIONS SUMMIT AND INCLUSIVE INNOVATION/COMMUMITY CAPACITY BUILDING | $291,250 |
MANTLES & MAKERS INC PURPOSE: FISCAL SPONORSHIP FOR FAB HOUSE | $58,410 |
Over the last fiscal year, we have identified 5 grants that Fab Foundation has recieved totaling $1,604,474.
Awarding Organization | Amount |
---|---|
Novo Foundation Kingston, NY PURPOSE: PROJECT SUPPORT: FAB CITY | $1,000,000 |
Novo Foundation Kingston, NY PURPOSE: PROJECT SUPPORT: FAB CITY | $500,000 |
Wend Ii Inc Bentonville, AR PURPOSE: OUTREACH TO NATIVE AMERICAN TRIBES FOR DISTRIBUTION OF PPE AND OTHER DONATED ITEMS | $54,288 |
Cleveland Foundation Cleveland, OH PURPOSE: FAB HOUSE | $50,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $186 |
Beg. Balance | $3,958,541 |
Net Contributions | $3,073,581 |
Other Expense | $3,761,836 |
Grants | $257,500 |
Ending Balance | $3,012,786 |
Organization Name | Assets | Revenue |
---|---|---|
Heavy Construction Industry Fund New York, NY | $24,457,135 | $4,942,939 |
Fab Foundation Boston, MA | $3,602,930 | $3,603,989 |
Society Of Plastics Engineers Inc Danbury, CT | $7,877,326 | $3,851,885 |
International Union Of Operating Engineers 57 Johnston, RI | $2,550,590 | $1,907,381 |
International Union Of Operating Engineers-98 Southwick, MA | $1,494,223 | $1,781,462 |
Construction Industries Of Massachusetts Inc Norwood, MA | $1,576,063 | $1,804,804 |
Engineering Center Education Trust Boston, MA | $2,342,937 | $1,311,012 |
American Federation Of Labor And Congress Of Industrial Orgs Dorchester, MA | $985,622 | $961,996 |
Construction Contractors Assn Of The Hudson Valley Inc Newburgh, NY | $1,019,153 | $947,733 |
Construction Exchange Of Buffalo Western New York Buffalo, NY | $2,118,263 | $1,098,271 |
International Society For Pharmaceutical Engineering Inc Waltham, MA | $1,575,326 | $683,732 |
American Council Of Engineering Companies Of Massachusetts Boston, MA | $626,689 | $842,590 |