Launchspace
- Assets
- $296.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Orange, MA
- Founding
- 04/2017
- Data as of
- 12/2021
- EIN
- 81-4826723
Organization Overview
Launchspace is located in Orange, MA. The organization was established in 2017. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Launchspace 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, Launchspace generated $96.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.8%) each year. All expenses for the organization totaled $72.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.0%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
A MEMBER-BASED COMMUNITY WORKSHOP IN THE ORANGE INNOVATION CENTER, PROVIDING TOOLS, EQUIPMENT, EDUCATION, AND SUPPORT TO PEOPLE WHO WANT TO MAKE AND REPAIR THINGS, BUT DON'T HAVE SPACE, MONEY, OR TIME TO BUILD A SHOP OF THEIR OWN. IT OFFERS AN ENVIRONMENT TO SHARE CREATIVE ENERGY, A CLASSROOM FOR PERSONAL LEARNING FOR ALL AGES, AND WORKFORCE TRAINING FOR RE-ENTRY INTO THE JOB MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brianna Drohen President And CEO | 40 | $18,462 | |
Melissa Rancourt Secretary | 2 | $5,060 | |
Anthony Novak Director | 2 | $622 | |
Courtney Fifield Board Chair | 2 | $0 | |
Mark Wright Treasurer | 2 | $0 | |
Alec Macleod Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $73,065 |
| Total Program Service Revenue | $16,853 |
| Membership dues | $7,865 |
| Investment income | $5 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$2,227 |
| Other Revenue | $680 |
| Total Revenue | $96,241 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $22,435 |
| Professional fees and other payments to independent contractors | $16,124 |
| Occupancy, rent, utilities, and maintenance | $11,631 |
| Printing, publications, postage, and shipping | $689 |
| Other expenses | $21,262 |
| Total expenses | $72,141 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $61,774 |
| Other assets | $0 |
| Total assets | $296,222 |
| Total liabilities | $25,000 |
| Net assets or fund balances | $271,222 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Launchspace has recieved totaling $10,042.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of North Central Massachusetts Inc Fitchburg, MA PURPOSE: COMMUNITY DEVELOPMENT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $42 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Entrepreneurship For All Inc Lowell, MA | $9,819,862 | $9,183,052 |
Trickle Up Program Inc New York, NY | $7,710,130 | $4,721,602 |
Commonwealth Kitchen Inc Dorchester, MA | $6,037,148 | $6,037,848 |
World Trade Center Small Business Recovery Fund Inc Albany, NY | $0 | $35,625 |
Latin American Venture Capital Association New York, NY | $0 | $1,998,213 |
Launch New York Inc Buffalo, NY | $5,910,787 | $3,470,565 |
I C A Group Incorporated Northampton, MA | $909,769 | $1,456,484 |
Media Law Resource Center Inc New York, NY | $2,775,500 | $1,755,345 |
New York & New Jersey Minority Supplier Development Council Inc New York, NY | $2,004,201 | $2,414,706 |
Business Training Institute Inc Utica, NY | $245,817 | $1,451,359 |
Central New York Technology Development Organization Inc Liverpool, NY | $2,128,896 | $1,411,064 |
Commonwise Education Inc Bronx, NY | $784,166 | $932,355 |