THE LOOP LAB INC

EIN: 823829806 501(c)(3) Employment

CAMBRIDGE, MA

Total Revenue
$1,221,096
Total Expenses
$1,384,486
Total Assets
$672,530
Net Assets
$377,263
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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
MA
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

THE LOOP LAB IS A NON-PROFIT SOCIAL ENTERPRISE SPECIALIZING IN WORKFORCE DEVELOPMENT AND DIGITAL STORYTELLING FOUNDED TO SERVE THE PORT NEIGHBORHOOD OF CAMBRIDGE. COMMITTED TO EMPOWERING WOMAN AND ADULTS OF COLOR FROM LOW INCOME BACKGROUNDS TO JOIN THE DIGITAL ECONOMY THROUGH CAREERS IN VIDEO, PHOTOGRAPHY, AND AUDIO. WE SUPPORT ALUMNI AND STAFF WITH WORK ON THESE PROJECTS.

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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%)

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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

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Governance

Voting Members
7
Independent Members
6
Employees
11
Volunteers
45

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
3
$104,545
Total Directors
7
$61,640
Key Employees
0
$0
Highest Compensated
0
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
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