Massrobotics Inc
- Assets
- $16.1m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 17
- Location
- Boston, MA
- Founding
- 03/2016
- Data as of
- 12/2023
- EIN
- 47-1919574
Organization Overview
Massrobotics Inc is located in Boston, MA. The organization was established in 2016. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 12/2023, Massrobotics Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massrobotics Inc 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 12/2023, Massrobotics Inc generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 40.7% each year . All expenses for the organization totaled $4.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO HELP CREATE AND SCALE THE NEXT GENERATION OF SUCCESSFUL ROBOTICS AND CONNECTED DEVICE COMPANIES BY PROVIDING ENTREPRENEURS AND INNOVATIVE ROBOTICS/AUTOMATION STARTUPS WITH THE WORKSPACE AND RESOURCES THEY NEED TO DEVELOP, PROTOTYPE, TEST AND COMMERCIALIZE THEIR PRODUCTS AND SOLUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS AN INDEPENDENT, NON-PROFIT ORGANIZATION SERVING AS THE INNOVATION HUB FOR ROBOTICS AND CONNECTED DEVICES. THROUGH OUR PROGRAMMING AND EVENTS, WE HELP BRING TOGETHER INNOVATIVE STARTUPS AND EXISTING TECHNOLOGY ORGANIZATIONS TO NURTURE THE NEXT GENERATION OF TALENT, AND PROMOTE ECONOMIC GROWTH AND INNOVATION. BY WORKING WITH DIVERSE LOCAL TALENT, WE ARE HELPING TO BRING ABOUT THE NEXT GLOBAL EVOLUTION OF ROBOTICS. THE ORGANIZATION PROMOTES THE DEVELOPMENT OF COMMON-NEED TECHNOLOGY SERVICES, SUCH AS SOFTWARE AND STANDARDS SUPPORT FOR THE ROBOTICS COMMUNITY, FOSTER A COLLABORATIVE ECOSYSTEM FOR ACADEMIC, PRIVATE, AND PUBLIC KEY STAKEHOLDERS THAT ALLOWS THOUGHT-SHARING AND CREATIVE EXCHANGE, AND INSPIRE THE NEXT GENERATION OF INNOVATORS AND BUILDERS THROUGH IN-HOUSE HANDS-ON STEM COLLABORATION AND INITIATIVES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Ryden Executive Di | OfficerTrustee | 40 | $250,000 |
Joyce Sidopoulos Chief Of Ope | 40 | $200,000 | |
Colleen Anderson Director, Ro | 40 | $147,678 | |
Juan Necochea Barbosa Dir. Strat. | 40 | $148,750 | |
Micaelah Morrill VP Business | 40 | $145,002 | |
Colin Angle Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $146,674 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,664,395 |
| Noncash contributions included in lines 1a–1f | $6,400 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,811,069 |
| Total Program Service Revenue | $1,207,700 |
| Investment income | $8,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$84,630 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,945,546 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $250,000 |
| Compensation of current officers, directors, key employees. | $87,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,085,004 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,211 |
| Payroll taxes | $102,844 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,749 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,619 |
| Office expenses | $122,710 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,479,620 |
| Travel | $35,713 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,958 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $417,906 |
| Insurance | $14,428 |
| All other expenses | $41,898 |
| Total functional expenses | $4,118,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300,512 |
| Savings and temporary cash investments | $213,697 |
| Pledges and grants receivable | $452,503 |
| Accounts receivable, net | $38,247 |
| 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 | $15,034 |
| Net Land, buildings, and equipment | $4,093,814 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,036,033 |
| Total assets | $16,149,840 |
| Accounts payable and accrued expenses | $148,070 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $235,200 |
| Other liabilities | $11,635,184 |
| Total liabilities | $12,018,454 |
| Net assets without donor restrictions | $4,128,552 |
| Net assets with donor restrictions | $2,834 |
| 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 | $16,149,840 |