WORCLAB INC (EIN 900542706) - Form 990 Financial Analysis & Trantor Score

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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

2010

Legal Domicile

Principal Officer

LINDA LOOFT

Phone

5087514639

Tax Period

2024-01-01 to 2024-12-31

WORCLAB INC, founded in 2010, is a small nonprofit in the Environment sector that reported $210K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $192K left a modest 9% surplus.

Mission

WORCLAB'S INCUBATOR FACILITIES LOWER THE BARRIER TO SUCCESS FOR STARTUPS BY PROVIDING COST-EFFECTIVE OFFICES AND PROTOTYPING SPACE, EQUIPMENT, RESOURCES AND PROGRAMMING.

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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 $210,184

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $210,184

Expense Breakdown

Grants Paid $0

Salaries & Benefits $64,870

Fundraising Expenses $0

Program Expenses $122,568

Other Expenses $127,110

TOTAL EXPENSES $191,980

Year-over-Year Comparison

	2024	2023	Change
Revenue	$210,184	$231,873	-0.1%
Expenses	$191,980	$189,099	+0.0%
Net Income	$18,204	$42,774	-0.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY GENOVESI	CHAIRMAN	1.00	Director	$0	$0	$0
JULIAN WADE	DIRECTOR	1.00	Director	$0	$0	$0
ELYSON DOS SANTOS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL COOPER	DIRECTOR	1.00	Director	$0	$0	$0
GREG CRONIN	DIRECTOR	1.00	Director	$0	$0	$0
LINDA LOOFT	TREASURER	1.00	Officer	$0	$0	$0
JACK FOLEY	DIRECTOR	1.00	Officer	$0	$0	$0

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	$210,184	$191,980	$164,027	$18,204
2023	No data	No data	No data	No data
2022	$172,546	$184,002	$103,047	$-11,456
2021	$211,037	$157,263	$116,747	$53,774

WORCLAB INC