The Octet Collaborative Inc
- Assets
- $138.9k
- Revenue
- $217.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Somerville, MA
- Founding
- Data as of
- 06/2023
- EIN
- 84-4881059
Organization Overview
The Octet Collaborative Inc is located in Somerville, MA. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2023, Octet Collaborative Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Octet Collaborative 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 06/2023, Octet Collaborative Inc generated $217.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 57.8% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A COMMUNITY OF FACULTY, STAFF, AND STUDENTS AT MIT DEDICATED TO HUMAN FLOURISHING, FORMED BY THE HISTORIC CHRISTIAN FAITH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL PROGRAM: INCLUDES OPERATIONAL, ADMINISTRATIVE, AND FUNDRAISING EXPENSES FOR OUR ACTIVITIES UNDER DIÁLOGOS AND "A BETTER FUTURE." ALSO INCLUDED IN THIS CATEGORY IS OUR COMMUNICATIONS WORK THROUGH OUR MONTHLY NEWSLETTER AND THE INFINITE CORRIDOR PODCAST SERIES.
DIÁLOGOS: DINNER AND DISCUSSION TO NURTURE INTELLECTUAL HOSPITALITY: HISTORICALLY SPEAKING, UNIVERSITIES HAVE ALWAYS VALUED PURSUING TRUTH WITH A SPIRIT OF DISCOVERY. THOUGH HIGHLY ASPIRATIONAL, THIS IS ONLY POSSIBLE WHEN A COMMUNITY VALUES INTELLECTUAL HOSPITALITY -- THE SUSTAINED PRACTICE OF HUMILITY, CURIOSITY, OPENNESS, AND GENUINE ENGAGEMENT. IN SUCH A COMMUNITY, PARTICIPANTS ARE MORE EAGER TO LISTEN THAN TO SPEAK, TO PURSUE UNDERSTANDING RATHER THAN CONFLICT, AND TO EMBRACE INTROSPECTION AND SELF-AWARENESS IN BALANCE WITH SELF-EXPRESSION. HARDLY A PASSIVE POSTURE, THIS KIND OF HOSPITALITY ENCOURAGES A RIGOROUS YET RESPECTFUL ENGAGEMENT WITH IDEAS THROUGH CRITICAL THINKING, DISCERNMENT, AND AN ENDURING WILLINGNESS TO CONSIDER AND RECONSIDER.
A BETTER FUTURE: A COMMON REFRAIN AT MIT IS THAT ITS TECHNOLOGY AND RESEARCH GOALS ARE ALIGNED AROUND THE GREATER GOAL TO "INVENT A BETTER FUTURE". THE UNDERLYING INTENT IS LAUDABLE, BUT IT IS CLEAR THAT STUDENTS AND FACULTY RARELY HAVE THE TIME, SPACE, OR RESOURCES TO DEEPLY EXPLORE THE QUESTION - "WHAT IS A BETTER FUTURE?" WHAT SORT OF WORLD, IN OTHER WORDS, SHOULD WE BE SEEKING TO BUILD, BEYOND WHAT IS TECHNICALLY FEASIBLE, OR COMMERCIALLY VIABLE? A BETTER FUTURE IS A MULTI-YEAR INITIATIVE TO ADVANCE WISDOM WITHIN THE PRACTICE OF SCIENCE AND ENGINEERING BY OPENING SPACE FOR MIT STUDENTS, FACULTY, AND STAFF TO STEP BACK AND ASK WHAT KIND OF FUTURE IS TRULY WORTH BUILDING.
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 |
|---|---|---|---|
Nathan Barczi Senior Theologian | OfficerTrustee | 20 | $60,000 |
Mia Chung-Yee Executive Director | OfficerTrustee | 20 | $0 |
Ruth Chang Chair | Trustee | 2 | $0 |
David Chan Vice Chair | Trustee | 1 | $0 |
Paul Burke Board Member | Trustee | 1 | $0 |
Ehi Nosakhare Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $216,703 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $216,703 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $217,658 |
| 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. | $65,000 |
| Compensation of current officers, directors, key employees. | $19,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $465 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,008 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,042 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,372 |
| Advertising and promotion | $577 |
| Office expenses | $6,905 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,504 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $909 |
| All other expenses | $0 |
| Total functional expenses | $146,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,946 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $138,946 |
| Accounts payable and accrued expenses | $2,622 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,622 |
| Net assets without donor restrictions | $136,051 |
| Net assets with donor restrictions | $273 |
| 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 | $138,946 |