THE LOOP LAB INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2017

Legal Domicile

Principal Officer

CHRISTOPHER HOPE

Phone

8572510843

Tax Period

2024-01-01 to 2024-12-31

THE LOOP LAB INC, founded in 2017, is a community nonprofit in the Employment sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 55% from the prior year, signaling strong growth momentum. Expenses of $1.4M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO EMPOWER WOMEN AND PEOPLE OF COLOR IN THE MEDIA ARTS TO DEVELOP CAREERS IN AUDIO/VIDEO THROUGH JOB TRAINING AND PLACEMENT.

Program Service Accomplishments

Program 1

Expenses: $667,966

LOOP LAB ACADEMY- OUR ORGANIZATION OPERATES A FREE HIGH SCHOOL PRE-APPRENTICESHIP PROGRAM WHICH PREPARES STUDENTS FOR CAREERS IN THE MEDIA ARTS/AV INDUSTRIES. IN ADDITION, WE PROVIDE SUMMER...

LOOP LAB ACADEMY- OUR ORGANIZATION OPERATES A FREE HIGH SCHOOL PRE-APPRENTICESHIP PROGRAM WHICH PREPARES STUDENTS FOR CAREERS IN THE MEDIA ARTS/AV INDUSTRIES. IN ADDITION, WE PROVIDE SUMMER PROGRAMMING FOR HIGH SCHOOL STUDENTS. WE ALSO RUN A STATE-REGISTERED MEDIA ARTS APPRENTICESHIP FOR 18-26 YEAR OLDS THAT PROVIDES PAID INTERNSHIPS AND ON-THE-JOB TRAINING FOR PARTICIPANTS.

Program 2

Expenses: $222,655 Revenue: $174,277

LOOP LAB STUDIO- OUR ORGANIZATION OPERATES A VIDEO PRODUCTION STUDIO THAT PROVIDES LOW COST AND HIGH-QUALITY VIDEO SERVICES TO CULTURAL ARTS ORGANIZATIONS AND COMPANIES IN GREATER BOSTON. THE STUDIO HIRES MANY OF OUR ALUMNI, FUTHERS THEIR TRAINING, AND GENERATES REVENUE FOR THE ORGANIZATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,046,282

Program Service Revenue $174,277

Investment Income $523

Other Revenue $14

TOTAL REVENUE $1,221,096

Expense Breakdown

Grants Paid $0

Salaries & Benefits $709,066

Fundraising Expenses $161,801

Program Expenses $890,621

Other Expenses $666,320

TOTAL EXPENSES $1,384,486

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,221,096	$788,597	+0.5%
Expenses	$1,384,486	$1,138,955	+0.2%
Net Income	$-163,390	$-350,358	-0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$104,545

Total Directors

$61,640

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TROY ELLERBEE	MANAGING DIRECTOR	8.00	Director	$61,640	$0	$61,640
PAUL LANNON	BOARD CHAIR	5.00	Officer Director	$0	$0	$0
GEOFF KEITH	CLERK	2.00	Officer Director	$0	$0	$0
JONATHAN WYNER	DIRECTOR	2.00	Director	$0	$0	$0
BAYO ADEBAYI	DIRECTOR	2.00	Director	$0	$0	$0
THATO MWOSA	DIRECTOR	2.00	Director	$0	$0	$0
NIKKI WILSON	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER HOPE	EXECUTIVE DIRECTOR	40.00	Officer	$101,500	$3,045	$104,545

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,221,096	$1,384,486	$672,530	$-163,390
2023	$788,597	$1,138,955	$796,165	$-350,358
2022	$1,299,082	$777,613	$1,062,451	$521,469
2021	$870,079	$632,222	$504,602	$237,857
2020	$381,557	$334,999	$247,985	$46,558