YarnLabs Inc

Nonprofit profile at a glance

EIN
830638683
IRS 990-EZ coverage
2020–2020
Forms available
Form 990 2019, Form 990-EZ 2020
Location
Wellesley, MA, USA
Phone
8285698491
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$190,803
Expenses
$1,694,228
Assets
$227,153

Source: IRS Form 990-EZ. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Colin Raney (President)

People named in this filing

  • Samantha Bates (Dir. Com. & Adm)
  • Colin Raney (President)
  • Morgan Binswanger (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

YarnLabs is a fiscal sponsor that aims to provide a range of strategic and administrative guidance and counsel, particularly for academic projects looking to scale their work.

What it reported doing in 2020

In 2020, YarnLabs supported two project groups, the Algorithmic Justice League and the Knowledge Futures Group. YarnLabs helped the Algorithmic Justice League obtain grant funds for 2020-2021 from four different foundations, the MacArthur Foundation, the Ford Foundation, the Rockefeller Foundation and Sloan Foundation. As a result of YarnLabss decision to dissolve the fiscal sponsorship relationships with the two projects were terminated.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 85% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 100
  • Sustainability: 6
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 61.1%; rating input score 61

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -787.9%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 10%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -173.3% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -155.8% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 61.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.