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Launchspace EIN 81-4826723

Launchspace FY2023 filing

EIN  81-4826723 Public charity (501(c)(3)) Orange, MA
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Provides tools, education, and space for people to make and repair things.
Leadership
Brianna Drohen · President and CEO · $60K
Money in and out
$515K revenue, $401K expenses
Bottom line
77% program efficiency

Provides tools, education, and space for people to make and repair things. For fiscal year 2023 it reported $515K in revenue, $401K in expenses, and $326K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$515K
Pt VIII · Ln 12
Total expenses
$401K
Pt IX · Ln 25
Net assets
$326K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $114K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.16 Fundraising $0.07
Program efficiency
77%
of spending reaches programs
Operating runway
2.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+22%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$515K
FY2023▲ +160%
Expenses
$401K
FY2023▲ +126%
Total assets
$353K
FY2023▲ +10%
Total liabilities
$27K
FY2023▼ -12%
Total revenue
$515K
Pt VIII · Ln 12
Total expenses
$401K
Pt IX · Ln 25
Net assets
$326K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$114K
Total assetsPt X · Ln 16$353K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $309K of program spending, described in the organization's own filed words · FY2023.
01

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.

$309Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLaunchspace
EINHdr · item D81-4826723
Principal addressHdr · item COrange, MA
WebsiteHdr · item Jwww.launchspace.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S43)
Ruling yearIRS BMFApr 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Brianna Drohen
President and CEO
$60,000Pt VII · Sec A
Courtney Fifield
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Wright
Treasurer
$0Pt VII · Sec A
Alec Macleod
Director
$0Pt VII · Sec A
Sarah Adams
Director
$0Pt VII · Sec A
Tanya Quinn
Vice President
$0Pt VII · Sec A
Kristin Leu
Director
$0Pt VII · Sec A

Brianna Drohen’s $66K as President and CEO is at the 43rd percentile of top reported officer pay among 1711 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Brianna Drohen$66,094———
Brianna Drohen—$60,000$45,393$18,462
Melissa Rancourt———$5,060
Anthony Novak———$622

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$487K · 95%
Program service revenue$28K · 5%
Contributions & grants95%$487K
Program service revenue5%$28K
Investment income$9
— government grantsLn 1e$371K
Total revenueLn 12$515K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.16 Fundraising $0.07
Program services77%$309K
Management & general16%$65K
Fundraising7%$26K
Total functional expensesLn 25$401K

Balance Sheet

Part X · end of year
CashLn 1$87K
Total assetsLn 16$353K
Total liabilitiesLn 26$27K
Total net assetsLn 32$326K
Months of cash on handcomputed2.6

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $87K · Operating expenses (Pt IX) $401K · Less non-cash grants $48K · Cash operating expenses/yr $353K
2.9 months
Where the money goes
Program services
Program services $309K · Total expenses $401K
77%
Management & General
Management & general $65K · Total expenses $401K
16%
Fundraising
Fundraising $26K · Total expenses $401K
7%
Cost to raise $1
Fundraising expense (2-yr avg) $13K · Solicited contributions (2-yr avg) $75K
$0.18 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $487K · Total revenue $515K
95%
Government reliance
Government grants $371K · Total revenue $515K
72%
Earned-income share
Program service revenue $28K · Total revenue $515K
5%
Investment reliance
Investment income $9 · Total revenue $515K
0%
Program self-sufficiency
Program service revenue $28K · Total expenses $401K
7%
Growth & trend
Revenue growth (YoY)
This year $515K · Prior year $198K
+160%
Net-asset trend (YoY)
End of year $326K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $515K · Expenses $401K
+22%
Liabilities-to-Assets
Total liabilities — · Total assets $353K
—
Net-asset ratio
Net assets $326K · Total assets $353K
92%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $353K
0%
People & payroll
Highest Reported Total Compensation
Individual Brianna Drohen · Reported title PRESIDENT AND CEO · Highest reported compensation $60K · Total expenses $401K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $95K · Total expenses $401K
24%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%——
Overhead ratio 16%——
Fundraising cost ratio 5%——
Revenue growth 160%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 1%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Community Foundation of Western MassachusettsFY2024$42K
United Way of North Central Mass INCFY2024$41K
Community Foundation of North Central Massachusetts INCFY2024$18K
Massachusetts Service Alliance INCFY2024$16K
Greenfield Savings Bank Foundation INCFY2024$2K
Total grants receivedfrom 5 funders$121K
See all 5 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$685K revenue · ⤓ 990 PDF
FY2023$515K revenue · viewing · ⤓ 990 PDF
FY2022$198K revenue · ⤓ 990 PDF
FY2021$96K revenue · ⤓ 990 PDF
FY2020$177K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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