2018-11-13T15:17:11-06:00 2017-12-31 042442519 EDELSTEIN AND COMPANY LLP 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2017-01-01 264836002 THE FAB FOUNDATION FABF 8573337777 50 MILK ST 16TH FLOOR BOSTON MA 02109 SHERRY LASSITER PRESIDENT 8573337777 2018-11-08 1 SCOTT KAPLOWITCH P00002440 6172276161 2018-11-08 38.111.9.114 2018-11-08 10:15:02 ES P C1284B650163F101757B7047818B4EE77766F5D2 711F439CEB20C205EF46D3A94F7323EF16891452 2017 2019-02-21 02:37:17Z FAB ACADEMY SHERRY LASSITER 50 MILK ST 16TH FLOOR BOSTON MA 02109 3676113 0 X WWW.FABFOUNDATION.ORG X 2009 CA THE FAB FOUNDATION WAS FORMED FEBRUARY 6, 2009 TO FACILITATE AND SUPPORT THE GROWTH OF THE INTERNATIONAL FAB LAB NETWORK. THE FAB FOUNDATION IS A US NON-PROFIT 501(C)(3) ORGANIZATION EMERGING FROM THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S CENTER FOR BITS & ATOMS (CBA) INTERNATIONAL FAB LAB OUTREACH PROGRAM. OUR MISSION IS TO PROVIDE ACCESS TO THE TOOLS, THE KNOWLEDGE AND THE FINANCIAL MEANS TO EDUCATE, INNOVATE AND INVENT USING TECHNOLOGY AND DIGITAL FABRICATION TO ALLOW ANYONE TO MAKE (ALMOST) ANYTHING, AND THEREBY CREATING OPPORTUNITIES TO IMPROVE LIVES AND LIVELIHOODS AROUND THE WORLD. COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND NON-PROFIT CONCERNS ARE OUR PRIMARY BENEFICIARIES. 4 2 12 100 0 0 3565630 1589150 3448348 2078599 12536 8364 0 0 7026514 3676113 429671 284000 0 0 487337 751234 15250 15000 24030 6887253 5689304 7819511 6739538 -792997 -3063425 7577939 4504808 1036368 1034710 6541571 3470098 X THE FAB FOUNDATION WAS FORMED FEBRUARY 6, 2009 TO FACILITATE AND SUPPORT THE GROWTH OF THE INTERNATIONAL FAB LAB NETWORK. THE FAB FOUNDATION IS A US NON-PROFIT 501(C)(3) ORGANIZATION EMERGING FROM THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S CENTER FOR BITS & ATOMS' (CBA) INTERNATIONAL FAB LAB OUTREACH PROGRAM. OUR MISSION IS TO PROVIDE ACCESS TO THE TOOLS, THE KNOWLEDGE AND THE FINANCIAL MEANS TO EDUCATE, INNOVATE AND INVENT USING TECHNOLOGY AND DIGITAL FABRICATION TO ALLOW ANYONE TO MAKE (ALMOST) ANYTHING, AND THEREBY CREATING OPPORTUNITIES TO IMPROVE LIVES AND LIVELIHOODS AROUND THE WORLD. COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND NON-PROFIT CONCERNS ARE OUR PRIMARY BENEFICIARIES. 0 0 5736697 284000 1557133 THE ORGANIZATION PROMOTES DIGITAL FABRICATION BY FACILITATING THE DEVELOPMENT OF COMMUNITY-BASED AND EDUCATIONAL FAB LABS, THE DISSEMINATION OF BEST PRACTICES IN DIGITAL FABRICATION THROUGHOUT THE FAB LAB NETWORK, FACILITATION AND DISSEMINATION OF RESEARCH AND COMMUNITY-BENEFICIAL PROJECTS, THE FUNDING AND FACILITATION OF FAB LAB AND DIGITAL FABRICATION PROJECTS THAT BENEFIT PEOPLE AND COMMUNITIES IN EXEMPLARY WAYS, SUCH AS MOBILE FAB LABS FOR EMERGENCY AID, OR FAB LABS FOR DEVELOPING WORLD CONTEXTS. THESE SERVICES INCLUDE DEPLOYING, INSTALLING, TRAINING, AND CONSULTING FOR NEW FAB LABS AS WELL AS PROGRAMMATIC SUPPORT OF ESTABLISHED FAB LABS. THE ORGANIZATION WORKS TO GATHER AND PROVIDE CRITICAL EVALUATION DATA AS WELL AS PROVIDE TOOLS FOR TRACKING THE IMPACT OF FAB LABS IN EDUCATIONAL, BUSINESS AND SOCIAL CONTEXTS. AS PART OF ITS SERVICES THE ORGANIZATION PROVIDES A NETWORK FUNCTION FOR THE FAB LAB COMMUNITY, BRINGING TOGETHER FAB LABS AROUND THE WORLD EITHER PHYSICALLY (FOR ANNUAL MEETINGS AND WORKSHOPS) OR VIRTUALLY THROUGH ONLINE TOOLS AND RESOURCES. ADDITIONALLY, AS A RESOURCE TO EDUCATIONAL ORGANIZATIONS, ENTREPRENEURIAL ORGANIZATIONS AND THE GENERAL PUBLIC THE ORGANIZATION HAS DEVELOPED AN ONLINE GLOBAL MAP OF FAB LABS, MAKERSPACES, AND INNOVATION SPACES SUCH THAT PEOPLE OR ORGANIZATIONS THAT NEED ACCESS TO THESE FACILITIES CAN FIND THEM EASILY. 580362 521466 THE ORGANIZATION BRINGS DIGITAL FABRICATION TOOLS AND PROCESSES TO PEOPLE OF ALL AGES, TEACHING THE SKILLS AND KNOWLEDGE OF DIGITAL FABRICATION, DEVELOPING CURRICULUM FOR FORMAL AND INFORMAL EDUCATIONAL SETTINGS, AS WELL AS DESIGNING AND OFFERING PROFESSIONAL DEVELOPMENT TRAINING PROGRAMS FOR TEACHERS, FAB LAB MANAGERS AND OTHER PROFESSIONALS. THE ORGANIZATION OFFERS ADVANCED TECHNICAL EDUCATION THROUGH THE FAB ACADEMY WHICH PROVIDES INSTRUCTION AND SUPERVISES INVESTIGATION OF MECHANISMS, APPLICATIONS, AND IMPLICATIONS OF DIGITAL FABRICATION AND OTHER TECHNOLOGIES. THE FAB ACADEMY IS A WORLDWIDE, DISTRIBUTED CAMPUS UTILIZING FAB LABS AS CLASSROOMS AND LIBRARIES FOR A NEW KIND OF TECHNICAL LITERACY. 6317059 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 40 0 1 12 1 0 0 0 0 0 0 0 0 0 0 X 4 2 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 CA MA X X SHERRY LASSITER 8573337777 50 MILK ST 16TH FLOOR BOSTON MA 02109 SHERRY LASSITER PRESIDENT/DIRECTOR 20.00 X X 50650 0 0 NEIL GERSHENFELD CHAIRMAN/DIRECTOR 1.00 X X 115000 0 0 MARIE PLANCHARD TREASURER/DIRECTOR 1.00 X X 0 0 0 CHRIS WILKINSON CLERK/DIRECTOR 1.00 X X 0 0 0 165650 0 0 1 0 0 0 EVERFI INC 3299 K STREET NW WASHINGTON DC 20007 TECHNOLOGY CONSULTING 250000 1 458803 1130347 1589150 CONTRACTS 541700 1556868 1556868 TUITION 611430 521466 521466 CONFERENCE FEES 900099 265 265 2078599 8364 8364 3676113 2078599 0 8364 X 263500 263500 12500 12500 8000 8000 165650 150455 7598 7597 488903 405294 83609 44090 36016 7453 621 52591 42960 8890 741 30282 11450 18832 96642 96642 15000 15000 1035228 998012 37216 46108 13475 32633 51761 327 51434 347211 329397 17743 71 26692 26569 123 21731 21731 160688 159891 797 13968 220 13748 LAB COMPONENTS 3858993 3858993 6739538 6317059 398449 24030 2485674 1705815 4025853 2420518 447688 0 307254 211099 4527 18440 801844 656547 303595 145297 3348 3639 7577939 4504808 420558 659344 82750 86709 438060 183657 95000 105000 1036368 1034710 X -241735 -488443 6783306 3958541 6541571 3470098 7577939 4504808 X -3063425 -8048 X 0 1 X 0 0 X 636749 952362 2920088 3565630 1589150 9663979 636749 952362 2920088 3565630 1589150 9663979 4204409 5459570 36018 44535 12536 8364 101453 9765432 8484376 0.55910 0.52320 X 6783306 1154104 262500 3716369 3958541 7300942 2787500 410500 2894636 6783306 9548279 1645075 311620 3580792 7300942 9900082 630716 33716 948803 9548279 10065988 165906 9900082 1.00000 0 0 801844 656547 145297 145297 3703113 27000 27000 3676113 0 3676113 6774586 35048 35048 6739538 0 6739538 PART V, LINE 4: AT DECEMBER 31, 2017 TEMPORARILY RESTRICTED NET ASSETS CONSISTED OF THE FOLLOWING: PROCUREMENT OF FAB LABS $2,706,586 FISCAL SPONSORSHIPS $ 250,000 SCOPES PROJECT $ 962,955 ACADEMY SCHOLARSHIPS $ 12,500 CHEVRON FAB LAB MEETING $ 26,500 TOTAL TEMP. RESTRICTED $3,958,541 PART XI, LINE 2D - OTHER ADJUSTMENTS: DONATED EQUIPMENT USED IN PROGRAM 27,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON UNCOLLECTIBLE RECEIVABLES 8,048. DONATED EQUIPMENT USED IN PROGRAM 27,000. SOUTH AMERICA 0 0 PROGRAM SERVICES, GRANT TO RECIPIENT IN REGION PURCHASE AND INSTALLATION OF A FAB LAB 64433 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES PURCHASE AND INSTALLATION OF A FAB LAB 336435 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES PURCHASE AND INSTALLATION OF A FAB LAB 24335 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES PURCHASE AND INSTALLATION OF A FAB LAB 442110 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 PROGRAM SERVICES, GRANT TO RECIPIENT IN REGION PURCHASE AND INSTALLATION OF A FAB LAB 293114 0 0 0 0 0 0 1160427 0 1160427 0 0 0 0 0 0 PART I, LINE 3: EXPENDITURES ARE ACCOUNTED FOR ON THE ACCRUAL BASIS USED FOR FINANCIAL STATEMENT PURPOSES. X X X 1 CROUCH & ASSOCIATES 3434 EDWARDS MILL ROAD SUITE 112-1 RALEIGH NC 27612 FUNDRAISING CONSULTING 0 0 15000 -15000 15000 -15000 MA CA SCHEDULE G, PART I, LINE 2B, COLUMN (V) IN 2017, CROUCH & ASSOCIATES IDENTIFIED POTENTIAL CONTRIBUTIONS FROM SPONSORS AND DONORS AS WELL AS PROVIDED FUNDRAISING COACHING SERVICES. 1 FAB FOCUS INC DBA FAB LAB DC 1418 NORTH CAPITOL ST NW WASHINGTON DC 20002 453624476 APPLICATION PENDING 12500 N/A N/A FISCAL SPONSORSHIP FOR FAB LABS SHIFT 7 LLC 2329 CALIFORNIA ST NW WASHINGTON DC 20008 822199933 N/A 250000 N/A N/A FISCAL SPONSORSHIP OF #AMERICAISHIRING PROJECT 0 3 HONORARIUM 10 12500 N/A N/A PART I, LINE 2: GRANTEES ARE REQUIRED TO MAKE PERIODIC REPORTS TO ENSURE THAN ANY FUNDS OR OTHER ASSISTANCE RECEIVED ARE USED FOR THE INTENDED PURPOSE(S) OF THE GRANT ONLY. THE BOARD OF DIRECTORS SHALL REVIEW ALL REPORTS FROM THE GRANT RECIPIENT, AND SOLICIT AND ANALYZE ANY OTHER INFORMATION THAT IS DEEMED NECESSARY AND PRUDENT,INCLUDING REVIEWING THE RECIPIENT'S OTHER RECORDS AND/OR PERFORMING ON-SITE VISITS WITH THE RECIPIENT(S), TO ENSURE THAT ALL GRANT FUNDS ARE BEING USED FOR THE INTENDED PURPOSE. FORM 990, PART I, LINE 6 - VOLUNTEERS THE VOLUNTEERS PROVIDE TIME AND EXPERTISE TO THE FAB FOUNDATION, IN DEVELOPING EDUCATION CONTENT, STRATEGIC OUTREACH IN EDUCATION AND ENTREPRENEURSHIP, FUNDRAISING, AND ASSISTANCE WITH ORGAINIZING AND RUNNING FAB LAB COMMUNITY EVENTS LIKE THE ANNUAL GATHERING FABX EACH YEAR, OR LOCAL EVENTS FOR COMMUNITY. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT AND TREASURER OF THE ORGANIZATION REVIEW FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER AND BOARD MEMBER SIGNS AN ANNUAL COI STATEMENT DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. IT IS ALSO THEIR ONGOING DUTY TO REPORT ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY OCCUR DURING THE YEAR TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD MET DURING THE YEAR TO REVIEW EXECUTIVE COMPENSATION. A SEARCH FOR PREVAILING SALARIES FOR SIMILAR NONPROFITS WAS PERFORMED, AND REPORTED TO THE BOARD. THE BOARD APPROVED THE PRESIDENT'S COMPENSATION INCREASE WHICH WAS IN LINE WITH THE RESULTS OF THE SEARCH. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE: HTTP://WWW.FABFOUNDATION.ORG/INDEX.PHP/ABOUT-FAB-FOUNDATION/INDEX.HTML AS WELL AS UPON REQUEST. FORM 990, PART IX, LINE 11G MENTORING & SUPPORT: PROGRAM SERVICE EXPENSES 202,811. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 202,811. MANAGEMENT & OTHER CONSULTING: PROGRAM SERVICE EXPENSES 795,201. MANAGEMENT AND GENERAL EXPENSES 37,216. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 832,417. FORM 990, PART XI, LINE 9: LOSS ON UNCOLLECTIBLE RECEIVABLES -8,048.