Nonprofit · EIN 26-4836002
FAB FOUNDATION
Tax-exempt · BOSTON, MA 02109
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,495,763 | $5,385,435 | $1,110,328 | $4,370,179 | $2,336,002 | $2,034,177 |
| December 31, 2023 | 990 | $2,206,847 | $3,241,875 | -$1,035,028 | $1,634,179 | $707,940 | $926,239 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,706,206
- Program service revenue
- $2,781,381
- Investment income
- $8,176
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,475,392
- Compensation of officers, directors and key employees
- $178,745
- Other salaries and wages
- $362,899
- Salaries, compensation and benefits (total)
- $595,099
- Professional fundraising fees
- $4,644
- Legal fees
- $1,122
- Accounting fees
- $118,950
- Occupancy
- $37,025
- Travel
- $300,905
- Depreciation
- $3,799
- Program services (functional)
- $4,900,835
- Management and general (functional)
- $451,284
- Fundraising (functional)
- $33,316
Balance sheet and other
- Total assets, start of year
- $1,634,179
- Total assets, end of year
- $4,370,179
- Total liabilities, end of year
- $2,336,002
- Net assets, end of year
- $2,034,177
- Land, buildings and equipment
- $7,799
- Net assets without donor restrictions
- -$678,127
- Net assets with donor restrictions
- $2,712,304
- Gross receipts
- $6,495,763
- Employees
- 5
- Volunteers
- 75
- Year formed
- 2009
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LUCIANO BETOLDI | VICE PRESIDENT/COO Highest-paid employee | 40 | $135,000 | $621 |
| NEIL GERSHENFELD | CHAIRMAN/DIRECTOR/CONSULTANT Trustee or director, Officer | 1 | $101,601 | $0 |
| SHERRY LASSITER | PRESIDENT/DIRECTOR Trustee or director, Officer | 20 | $75,500 | $1,063 |
| MARIE PLANCHARD | TREASURER/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| BLAIR EVANS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATIE RAST | SECRETARY/DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LUCIANO BETOLDI | VICE PRESIDENT/COO Highest-paid employee | 40 | $112,423 |
| NEIL GERSHENFELD | CHAIRMAN/DIRECTOR/CONSULTANT Trustee or director, Officer | 1 | $64,275 |
| SHERRY LASSITER | PRESIDENT/DIRECTOR Trustee or director, Officer | 20 | $60,116 |
| MARIE PLANCHARD | TREASURER/DIRECTOR Trustee or director, Officer | 1 | $0 |
| BLAIR EVANS | DIRECTOR Trustee or director | 1 | $0 |
| KATIE RAST | SECRETARY/DIRECTOR Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 50 MILK ST 16TH FLOOR, BOSTON, MA 02109-5002
- In care of
- % SHERRY LASSITER
- Mailing address (990-N for 2011)
- 105 Waltham Street, Maynard MA 01754
- Principal officer (990 for 2024)
- SHERRY LASSITER, 50 MILK ST 16TH FLOOR, BOSTON, MA 02109
- Principal officer (990-N for 2011)
- Sherry Lassiter, 105 Waltham Street, Maynard MA 01754
- Signed the 990
- SHERRY LASSITER, PRESIDENT
- Phone
- (857) 333-7777
- Website
- http://fabfoundation.org
- Return prepared by
- EAG NEW ENGLAND LLC
Mission
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.
Program accomplishments
- 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.Expenses $4,271,482 · grants $1,475,392 · revenue $2,048,403
- 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. THE ORGANIZATION ALSO PROVIDES PROFESSIONAL DEVELOPMENT AND RESOURCES FOR K12 TEACHERS AND EDUCATORS THROUGH ITS SCOPES-DF WEBSITE AND RESEARCH PLATFORM (SCOPESDF.ORG). THIS SITE SHARES RESOURCES AND DISSEMINATES BEST EDUCATIONAL PRACTICES FOR EDUCATORS USING DIGITAL FABRICATION TO TEACH STEM DISCIPLINES AND SKILLS.Expenses $629,353 · revenue $732,978
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 26-4836002
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2011
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U42)
- Assets (IRS master file)
- $4,370,179
- Income (IRS master file)
- $6,495,763
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,495,763 | $5,385,435 | $4,370,179 | XML |
| 990 | December 2023 | $2,206,847 | $3,241,875 | $1,634,179 | XML |
| 990 | December 2022 | $2,649,329 | $3,735,780 | $3,453,460 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
| 990-N for 2011 Officer: Sherry Lassiter | December 31, 2011 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-4836002).
Questions about FAB FOUNDATION
- What is the EIN of FAB FOUNDATION?
- The employer identification number (EIN) of FAB FOUNDATION is 26-4836002.
- Is FAB FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2011.
- Are donations to FAB FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FAB FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FAB FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FAB FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FAB FOUNDATION?
- The 990 for the year ended December 31, 2024 names SHERRY LASSITER.
- Who are the officers and directors of FAB FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 6 people; 3 received compensation from the organization, the highest $135,000 (LUCIANO BETOLDI, VICE PRESIDENT/COO).
- How much revenue does FAB FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,495,763, expenses of $5,385,435 and total assets of $4,370,179 at year end.
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