Marcy Lab Inc
- Assets
- $1.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Brooklyn, NY
- Founding
- 07/2019
- Data as of
- 06/2021
- 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 06/2021, Marcy Lab Inc employed 5 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 06/2021, Marcy Lab Inc generated $2.1m in total revenue. All expenses for the organization totaled $903.7k during the year ending 06/2021. While expenses have increased by 77.4% per year over the past 2 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
2021
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. UPON GRADUATION, FELLOWS ARE EQUIPPED WITH A STRONG UNDERSTANDING OF COMPUTER SCIENCE SKILLS AND A PORTFOLIO THAT SHOWCASES THEIR TALENT IN PRACTICE. 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. AT OVER 2,000 HOURS IN LENGTH, OUR PROGRAM SURPASSES THE NUMBER OF IN-CLASS HOURS FOR THE AVERAGE FOUR-YEAR DEGREE AND IS CONTINUALLY INFORMED BY INDUSTRY NEEDS. 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. THIS IS THEIR OPPORTUNITY TO SHOWCASE THEIR ABILITY TO LEARN, ADAPT, AND ADD VALUE TO TEAMS WORKING TOWARD SOLUTIONS TO COMPLEX PROBLEMS. TO DATE, 100% OF EMPLOYERS THAT HAVE TAKEN ON OUR APPRENTICES HAVE EXTENDED OFFERS TO KEEP THEM ON AS FULL-TIME EMPLOYEES. 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maya Bhattacharjee-Marcantonio Co-Founder & Chief Prog. Off. | OfficerTrustee | 40 | $76,700 |
Reuben Ogbonna Co-Founder And Exec. Director | OfficerTrustee | 40 | $76,700 |
Ashley Lusky See Sch O Dir. Of Finance & Operation | Officer | 40 | $15,359 |
Aaron Glover Treasurer | OfficerTrustee | 2 | $0 |
Imani Hope Board Chair | OfficerTrustee | 2 | $0 |
Tyler Lambe Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $59,068 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,083,510 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,142,578 |
| 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 | $2,149,942 |
| 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. | $308,694 |
| Compensation of current officers, directors, key employees. | $83,182 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,433 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,697 |
| Payroll taxes | $188,345 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,225 |
| Fees for services: Accounting | $9,594 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $4,501 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,541 |
| Advertising and promotion | $35,889 |
| Office expenses | $11,588 |
| Information technology | $65,150 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,786 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $693 |
| All other expenses | $0 |
| Total functional expenses | $903,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $520,181 |
| Savings and temporary cash investments | $1,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $963,936 |
| 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 | $3,000 |
| Total assets | $1,488,117 |
| Accounts payable and accrued expenses | $4,271 |
| 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 | $36,998 |
| Total liabilities | $41,269 |
| Net assets without donor restrictions | $726,848 |
| Net assets with donor restrictions | $720,000 |
| 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 | $1,488,117 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Marcy Lab Inc has recieved totaling $603,094.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $114,394 |
Arbor Brothers Inc New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $102,000 |
Llewellyn Family Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Education Leaders Of Color Inc Los Angeles, CA PURPOSE: OPERATING SUPPORT | $100,000 |
Tom Russell Charitable Foundation Inc Wilmington, DE PURPOSE: SUPPORT THE CONTINUED EXPANSION OF OUR SOFTWARE ENGINEERING FELLOWSHIP, SPECIFICALLY TO NEARLY DOUBLE OUR ENROLLMENT TO 100 YOUNG PEOPLE IN THE COMING YEAR WHILE BUILDING THE INFRASTRUCTURE | $95,000 |
William T Grant Foundation Inc New York, NY PURPOSE: SCALING AND SUSTAINING THE FUTURE OF THE MARCY LAB SCHOOL | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Touro University New York, NY | $83,518,573 | $93,950,601 |
New York Law School New York, NY | $345,948,911 | $82,190,230 |
Brooklyn Law School Brooklyn, NY | $395,638,685 | $73,619,300 |
Bank Street College Of Education New York, NY | $91,645,236 | $64,451,080 |
Touro University New York, NY | $112,668,496 | $69,634,843 |
Albany College Of Pharmacy And Health Sciences Albany, NY | $159,389,370 | $62,205,490 |
Salus University Elkins Park, PA | $71,855,290 | $53,963,466 |
New England Law Boston Boston, MA | $111,835,752 | $46,208,385 |
Geisinger Commonwealth School Of Medicine Danville, PA | $148,792,015 | $48,699,077 |
American College King of Prussia, PA | $101,126,239 | $39,801,880 |
Albany Law School Albany, NY | $122,483,245 | $40,164,228 |
Cairn University Langhorne, PA | $53,369,669 | $36,996,664 |