Marcy Lab Inc
- Assets
- $8.4m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 66
- Location
- Brooklyn, NY
- Founding
- 07/2019
- Data as of
- 06/2023
- EIN
- 83-3754699
Organization Overview
Marcy Lab Inc is located in Brooklyn, NY. The organization was established in 2019. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2023, Marcy Lab Inc employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marcy Lab 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, Marcy Lab Inc generated $8.9m in total revenue. All expenses for the organization totaled $4.9m during the year ending 06/2023. While expenses have increased by 102.9% per year over the past 4 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE PROVIDE A DIRECT PATHWAY FOR LOW -INCOME YOUNG ADULTS TO WEALTH-GENERATING TECHNOLOGY CAREERS THROUGH RIGOROUS TECHNICAL TRAINING AND LEADERSHIP DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR FLAGSHIP PROGRAM, THE SOFTWARE ENGINEERING FELLOWSHIP, IS A TRUE ALTERNATIVE TO COLLEGE, DESIGNED TO BE A DIRECT PATHWAY FOR YOUNG PEOPLE OF COLOR FROM LOW SOCIOECONOMIC BACKGROUNDS TO EMPLOYMENT AS ENTRY-LEVEL SOFTWARE ENGINEERS. THE YEAR-LONG PROGRAM STARTS WITH A DEEP DIVE INTO THE FUNDAMENTALS OF PROGRAMMING AND COMPUTER SCIENCE PAIRED WITH A PROJECT-BASED CURRICULUM THAT APPLIES THESE FUNDAMENTALS IN A REAL-WORLD CONTEXT. WE COMPLEMENT TECHNICAL TRAINING BY CULTIVATING "THE WHOLE STUDENT" THROUGH OUR LEADERSHIP DEVELOPMENT CURRICULUM, A SKILLS-BASED, EQUITY-CENTERED APPROACH TO PROFESSIONAL READINESS AND IDENTITY DEVELOPMENT. CLASSROOM TRAINING IS FOLLOWED BY A THREE-MONTH PAID APPRENTICESHIP WHERE FELLOWS SHOWCASE THEIR TALENTS BY APPLYING THEIR SKILLS AS PART OF A REAL ENGINEERING TEAM OR WORKING ON AN OPEN-SOURCE SOFTWARE PROJECT. UPON GRADUATION, OUR CAREER COUNSELORS SUPPORT FELLOWS AS THEY PURSUE OPPORTUNITIES IN THE FULL-TIME JOB MARKET. ALUMS CONTINUE TO RECEIVE CAREER COACHING AND MENTORSHIP EARLY IN THEIR CAREERS AND HAVE ACCESS TO ALUMNI ENGAGEMENT OPPORTUNITIES FOR LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reuben Ogbonna Co-Founder & Exec. Director | OfficerTrustee | 40 | $147,275 |
Thuyan Duong Vp, Software Engineering Fello | 40 | $139,010 | |
Maya Bhattacharjee-Marcantonio Co-Founder & Chief Prog. Off. | OfficerTrustee | 40 | $141,450 |
Travis Fox Head Of Strategic Partnerships | 40 | $115,644 | |
Ashley Lusky Senior Director, Finance & Hr | Officer | 40 | $109,241 |
Aankit Patel Chair & Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,320 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,608,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,639,593 |
| Total Program Service Revenue | $292,364 |
| Investment income | $376 |
| 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 | $8,932,333 |
| 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. | $477,811 |
| Compensation of current officers, directors, key employees. | $152,568 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,054,584 |
| Pension plan accruals and contributions | $5,116 |
| Other employee benefits | $235,620 |
| Payroll taxes | $979,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $645 |
| Fees for services: Accounting | $55,539 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $413,631 |
| Advertising and promotion | $8,777 |
| Office expenses | $25,228 |
| Information technology | $180,884 |
| Royalties | $0 |
| Occupancy | $29,792 |
| Travel | $63,790 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,438 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $413,801 |
| Insurance | $15,614 |
| All other expenses | $6,670 |
| Total functional expenses | $4,862,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $570,332 |
| Savings and temporary cash investments | $2,299,809 |
| Pledges and grants receivable | $3,884,073 |
| 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 | $1,616,959 |
| Total assets | $8,371,173 |
| Accounts payable and accrued expenses | $35,827 |
| 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 | $150,000 |
| Other liabilities | $1,674,184 |
| Total liabilities | $1,860,011 |
| Net assets without donor restrictions | $2,462,648 |
| Net assets with donor restrictions | $4,048,514 |
| 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 | $8,371,173 |