Lowell Makes
- Assets
- $2.1m
- Revenue
- $507.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 46-2789844
Organization Overview
Lowell Makes is located in Lowell, MA. The organization was established in 2014. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lowell Makes 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, Lowell Makes generated $507.5k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 55.1% each year . All expenses for the organization totaled $379.1k during the year ending 12/2021. While expenses have increased by 51.9% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LOWELL MAKES IS A COLLECTION OF OPEN WORKSHOPS AND LABORATORIES WHERE MEMBERS AND STUDENTS CAN COLLABORATE TO LEARN, SHARE, AND HONE CRAFTS OF ALL KINDS. THE FOCUS IS ON PROVIDING A SPACE FOR EDUCATION, ENTREPRENEURSHIP, AND ENGAGEMENT WITH THE COMMUNITY OF LOWELL, MA.
Describe the Organization's Program Activity:
HOSTING WORKSHOPS AND PROVIDING A SPACE FOR INDIVIDUALS TO HONE SKILLS IN ART, ENGINEERING, AND INNOVATION IN LOWELL, MA AND SURROUNDING AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samantha Burdett President | OfficerTrustee | 30 | $0 |
John Noto Treasurer | OfficerTrustee | 30 | $0 |
James Saunders Clerk | OfficerTrustee | 2 | $0 |
Eric Sack Director | Trustee | 1 | $0 |
Mark Palermo Director (from 8/2022) | Trustee | 1 | $0 |
Jack Walsh Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $281,233 |
| Investment income | $3 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $96,942 |
| 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 | $507,546 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,314 |
| Fees for services: Accounting | $13,422 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,181 |
| Advertising and promotion | $523 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $122,687 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $55,292 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,820 |
| Insurance | $21,130 |
| All other expenses | $0 |
| Total functional expenses | $379,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,022 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,330 |
| Total assets | $2,073,289 |
| Accounts payable and accrued expenses | $35,000 |
| Grants payable | $0 |
| Deferred revenue | $23,006 |
| 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 | $1,704,000 |
| Other liabilities | $7,607 |
| Total liabilities | $1,769,613 |
| Net assets without donor restrictions | $303,676 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $303,676 |