CANARY IMPACT LAB INC

EIN: 872605065 501(c)(3) Public & Societal Benefit

NEW YORK, NY

Total Revenue
$2,614,175
Total Expenses
$2,037,608
Total Assets
$1,469,994
Net Assets
$1,454,179
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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
2021
Legal Domicile
DE
Principal Officer
ADRIAN HARO
Phone
9175969653
Tax Period
2023-01-01 to 2023-12-31

CANARY IMPACT LAB INC, founded in 2021, is a community nonprofit in the Public & Societal Benefit sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 159% from the prior year, signaling strong growth momentum. The organization ran a surplus of $577K, a strong 22% operating margin.

Mission

CANARY RAISES AND DISTRIBUTES FUNDS TO HELP INDIVIDUALS EXPERIENCING FINANCIAL NEED, CONDUCTS RESEARCH, ADVANCES BEST PRACTICES, INFORMS POLICY DEVELOPMENT, AND EXPERIMENTS WITH NEW APPROACHES TO BOLSTER FINANCIAL HEALTH.

Program Service Accomplishments

Program 1
Expenses: $1,990,375 Revenue: $50,224

CANARY RAISES AND DISTRIBUTES FUNDS TO INDIVIDUALS EXPERIENCING FINANCIAL NEED. MANY RECIPIENTS HAVE EXPERIENCED AN UNPREDICTABLE OR UNAVOIDABLE EVENT THAT MAKES IT DIFFICULT FOR THEM TO AFFORD BASIC...

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CANARY RAISES AND DISTRIBUTES FUNDS TO INDIVIDUALS EXPERIENCING FINANCIAL NEED. MANY RECIPIENTS HAVE EXPERIENCED AN UNPREDICTABLE OR UNAVOIDABLE EVENT THAT MAKES IT DIFFICULT FOR THEM TO AFFORD BASIC LIVING EXPENSES. OTHERS EXPERIENCE ONGOING FINANCIAL FRAGILITY, AND THE GRANTS ENABLE THEM TO PURSUE THEIR GOALS OF LONGER-TERM SECURITY OR MOBILITY. IN THE COURSE OF DELIVERING FUNDS, CANARY IMPACT LAB GATHERS AND ANALYZES DATA ABOUT HOW THESE FUNDS HELP THE RECIPIENTS. WE FIND THAT THE GRANTS ENABLE PEOPLE TO AVOID SIGNIFICANT NEGATIVE EVENTS SUCH AS MISSING BILLS OR RISKING EVICION. THEY LOWER FINANCIAL STRESS, MAKING IT MORE POSSIBLE FOR RECIPIENTS TO IMPROVE THEIR FINANCIAL HEALTH.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,556,460
Program Service Revenue $50,224
Investment Income $7,491
Other Revenue $0
TOTAL REVENUE $2,614,175

Expense Breakdown

Grants Paid $1,990,375
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,990,375
Other Expenses $47,233
TOTAL EXPENSES $2,037,608

Year-over-Year Comparison

2023 2022 Change
Revenue $2,614,175 $1,009,584 +1.6%
Expenses $2,037,608 $120,378 +15.9%
Net Income $576,567 $889,206 -0.4%
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
5
Independent Members
5
Employees
N/A
Volunteers
5

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
$0
Total Directors
5
$118,450
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNY CALVERT RODRIGUES CHAIR 0.25
Officer Director
$0 $0 $0
ADRIAN HARO VICE CHAIR & TREASURER 0.25
Officer Director
$0 $0 $0
KRISTEN BERMAN SECRETARY 0.25
Officer Director
$0 $0 $0
KEN GROUF BOARD MEMBER 0.25
Director
$0 $0 $0
RACHEL SCHNEIDER BOARD MEMBER 0.25
Director
$0 $3,450 $118,450
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 No data No data No data No data
2023 $2,614,175 $2,037,608 $1,469,994 $576,567
2022 $1,009,584 $120,378 $987,836 $889,206
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