Overview
What is Marcy Lab Inc?
Marcy Lab Inc, located in Brooklyn, New York, is a nonprofit organization that offers a unique alternative to college for low-income young people of color, enabling them to embark on employment as entry-level software engineers. The year-long program, named the Software Engineering Fellowship, begins with a comprehensive introduction to programming and computer science fundamentals, followed by a project-based curriculum that applies these skills in a real-world context. Marcy Lab Inc goes beyond technical training, fostering personal growth through their leadership development curriculum, an equity-centered approach to professional readiness, and identity development. The fellowship is capped off with a three-month paid apprenticeship, where individuals demonstrate their abilities as part of a real engineering team or work on an open-source software project. Post-graduation, Marcy Lab Inc provides career counseling and ongoing mentorship to help fellows secure opportunities in the full-time job market. The mission of Marcy Lab Inc is to create an alternative pathway to high-growth technology careers for young adults from underestimated backgrounds, ultimately fostering economic mobility and cultivating diverse engineering talent in the country.
Official website here: www.marcylabschool.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
Marcy Lab Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting exceptional accountability and financial management. The charity's overall score is entirely based on its strong performance in the Accountability & Finance category, where it secured a score of 97%. This rating indicates a high level of transparency and a commitment to responsible stewardship of donor funds.
The organization demonstrates a robust governance structure, with an independent board composed entirely of members that meet best practices. They have effective financial oversight mechanisms in place, including a fully operational Audit and Oversight Committee. Notably, there have been no material diversions of assets, and the organization maintains comprehensive policies regarding conflicts of interest and whistleblower protections, further highlighting their commitment to ethical practices.
Financially, Marcy Lab Inc performs well, with a program expense ratio of 74.20%, indicating that a significant portion of its expenditures directly supports its mission. Their fundraising efficiency is commendable, requiring only $0.01 to raise a dollar, which speaks to their effective fundraising strategies. Overall, the organization has a strong financial foundation that supports its operations and programs well into the future.
This AI summary has been generated from information found on Charity Navigator.
Is Marcy Lab Inc legitimate?
Marcy Lab Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marcy Lab Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $363,933
Professional Fundraising Fees: $0
Other Salaries and Wages: $452,760
For more financial information, click here
Official website here: www.marcylabschool.org
What is the mission statement of Marcy Lab Inc?
Marcy Lab Inc's mission is centered around providing an alternative pathway for low-income young adults to prosper in high-growth technology careers. Through their rigorous technical training and leadership development programs, they equip their students with the necessary skills to secure employment opportunities in rapidly expanding sectors of the global economy. By doing so, Marcy Lab Inc contributes to economic mobility for its students and fosters a diverse pool of engineering talent in the country.
Official website here: www.marcylabschool.org
Who is the CEO of Marcy Lab Inc?
Reuben Ogbonna is the Senior Lead Instructor of Marcy Lab Inc.
Official website here: www.marcylabschool.org
What is the revenue of Marcy Lab Inc?
Marcy Lab Inc's revenue in 2022 was $3,752,797.
Official website here: www.marcylabschool.org
Who are the executives of Marcy Lab Inc and what are their salaries?
The average compensation at Marcy Lab Inc during 2022 was $38,890. There are 21 employees and 86 volunteers at Marcy Lab Inc.
Here are 11 key members and their salaries:
- Compensation: $108,343
- Related: $0
- Other: $6,495
- Compensation: $113,750
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- Other: $0
- Compensation: $113,750
- Related: $0
- Other: $0
- Compensation: $91,989
- Related: $0
- Other: $6,495
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.marcylabschool.org
Where can I find the form 990 for Marcy Lab Inc?
Marcy Lab Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.marcylabschool.org
Learn more at the official website: www.marcylabschool.org
Mission Statement of Marcy Lab Inc
Marcy Lab Inc, a nonprofit organization, is committed to creating an alternative pathway for young adults from underestimated backgrounds to pursue high-growth technology careers. Their mission is crystal clear: to equip these individuals with rigorous technical training, leadership development, and direct access to employment opportunities in rapidly expanding sectors of the global economy. By doing so, Marcy Lab Inc aims to foster economic mobility for its students and establish a robust pipeline of diverse engineering talent in the country. The nonprofit's approach is two-fold, providing technical skills and leadership development, thereby empowering its students to break barriers and seize opportunities in the technology sector.
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Impact
July, 2024
Marcy Lab Inc has a significant impact on providing a direct pathway for low-income young adults to wealth-generating technology careers. Through their flagship program, the Software Engineering Fellowship, Marcy Lab offers a comprehensive year-long training that combines technical skills with real-world applications. By focusing on students from underrepresented backgrounds and offering post-graduation support, Marcy Lab creates economic mobility and strengthens the pipeline of diverse engineering talent in the country.
This information is meant to be a general summary of Marcy Lab Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $79
- Program Service Revenue: $80,130
- Gross Receipts: $3,752,797
Assets and Liabilities:
- Total Assets: $4,472,166
- Total Liabilities: $2,030,495
- Net Assets: $2,441,671
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$80,130
Organization Details
Founding Year
2019
Phone
(919) 621-9388Principal Officer
Reuben Ogbonna
Main Address
829 JEFFERSON AVENUE, BROOKLYN, NY, 11221
Website
www.marcylabschool.orgNTEE Category
Code: B50 - Education
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