Yarnlabs
- Assets
- $203.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 11
- Location
- Wellesley, MA
- Founding
- 11/2018
- Data as of
- 12/2021
- EIN
- 83-0638683
Organization Overview
Yarnlabs is located in Wellesley, MA. The organization was established in 2018. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Yarnlabs employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Yarnlabs 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, Yarnlabs generated $136.0 in total revenue. All expenses for the organization totaled $24.0k during the year ending 12/2021.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
IN 2020, YARNLABS SUPPORTED TWO PROJECT GROUPS, THE ALGORITHMIC JUSTICE LEAGUE AND THE KNOWLEDGE FUTURES GROUP. YARNLABS HELPED THE ALGORITHMIC JUSTICE LEAGUE OBTAIN GRANT FUNDS FOR 2020-2021 FROM FOUR DIFFERENT FOUNDATIONS, THE MACARTHUR FOUNDATION, THE FORD FOUNDATION, THE ROCKEFELLER FOUNDATION AND SLOAN FOUNDATION. AS A RESULT OF YARNLABSS DECISION TO DISSOLVE THE FISCAL SPONSORSHIP RELATIONSHIPS WITH THE TWO PROJECTS WERE TERMINATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samantha Bates Dir. Com. & Adm | 1.5 | $0 | |
Colin Raney President | 1.5 | $0 | |
Morgan Binswanger Treasurer | 1.5 | $0 | |
Michelle Kydd Lee Secretary | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $136 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $136 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $23,000 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $992 |
| Total expenses | $23,992 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $203,297 |
| Other assets | $0 |
| Total assets | $203,297 |
| Total liabilities | $0 |
| Net assets or fund balances | $203,297 |
Grants Awarded
Over the last fiscal year, Yarnlabs has awarded $113,412 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NATL BUREAU OF ECON RESEARCH PURPOSE: Innovation Information Initiative | $56,000 |
BOSTON UNIVERSITY PURPOSE: Innovation Information Initiative | $57,412 |