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THE FAB FOUNDATION WAS FORMED FEBRUARY 6, 2009 TO FACILITATE AND SUPPORT THE GROWTH OF THE INTERNATIONAL FAB LAB NETWORK. THE FAB FOUNDATION IS A US NON-PROFIT 501(C)(3) ORGANIZATION EMERGING FROM THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S CENTER FOR BITS & ATOMS (CBA) INTERNATIONAL FAB LAB OUTREACH PROGRAM. OUR MISSION IS TO PROVIDE ACCESS TO THE TOOLS, THE KNOWLEDGE AND THE FINANCIAL MEANS TO EDUCATE, INNOVATE AND INVENT USING TECHNOLOGY AND DIGITAL FABRICATION TO ALLOW ANYONE TO MAKE (ALMOST) ANYTHING, AND THEREBY CREATING OPPORTUNITIES TO IMPROVE LIVES AND LIVELIHOODS AROUND THE WORLD. COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND NON-PROFIT CONCERNS ARE OUR PRIMARY BENEFICIARIES.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS Form 990 via ProPublica Nonprofit Explorerⓘ Leadership data below reflects a more recent filing (Tax Year 2024) from the IRS e-file system.
Total Revenue
▼$2.2M
Total Contributions
$1.2M
Total Expenses
▼$3.2M
Total Assets
$1.6M
Total Liabilities
▼$707.9K
Net Assets
$926.2K
Officer Compensation
→$125.2K
Other Salaries
$324.6K
Investment Income
▼$27.8K
Fundraising
▼$0
Source: USAspending.gov · Searched by organization name
VA/DoD Awards
$3M
VA/DoD Award Count
1
Funding from the Department of Veterans Affairs and/or Department of Defense.
Total Federal Funding
$3.1M
Awards Found
2
| Awarding Agency | Description | Amount | Fiscal Year | Period | Link |
|---|---|---|---|---|---|
| VA/DoDDepartment of Defense | DISTRIBUTED TECHNICAL EDUCATION: BRINGING THE CAMPUS TO THE STUDENT | $3M | FY2014 | Jul 2014 – Aug 2017 | Open → |
| National Science Foundation | NSF INCLUDES PLANNING GRANT: EXPLORING A COLLABORATIVE MODEL FOR BROADENING PARTICIPATION IN STEM THROUGH DIGITAL FABRICATION AND MAKING | $100K | FY2020 | Jun 2020 – May 2021 | Open → |
Department of Defense
$3M
DISTRIBUTED TECHNICAL EDUCATION: BRINGING THE CAMPUS TO THE STUDENT
National Science Foundation
$100K
NSF INCLUDES PLANNING GRANT: EXPLORING A COLLABORATIVE MODEL FOR BROADENING PARTICIPATION IN STEM THROUGH DIGITAL FABRICATION AND MAKING
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
1
Clean Audits
0
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2016 | Material Weakness | Unmodified (Clean) | $883.1K | No | 2017-09-27 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$883.1K
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
990-N (e-Postcard) Filing History
This organization files simplified Form 990-N (annual gross receipts ≤ $50,000).
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023 | $2.2M | $1.2M | $3.2M | $1.6M | $926.2K |
| 2022 | $2.6M | $1.1M | $3.7M | $3.5M | $2M |
| 2021 | $3.6M | $2.2M | $3.2M | $3.6M | $2.9M |
| 2020 | $4.4M | $3.2M | $4.4M | $3.6M | $2.5M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS Form 990 via ProPublica Nonprofit Explorer (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File · ProPublica Nonprofit Explorer
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Neil Gershenfeld | Chairman/director/consultant | 1 | $101.6K | $0 | $0 | $101.6K |
| Sherry Lassiter | President/director | 20 | $75.5K | $0 | $1,063 | $76.6K |
| Marie Planchard | Treasurer/director | 1 | $0 | $0 | $0 | $0 |
| Katie Rast | Secretary/director | 1 | $0 | $0 | $0 | $0 |
Neil Gershenfeld
Chairman/director/consultant
$101.6K
Hrs/Wk
1
Compensation
$101.6K
Related Orgs
$0
Other
$0
Sherry Lassiter
President/director
$76.6K
Hrs/Wk
20
Compensation
$75.5K
Related Orgs
$0
Other
$1,063
Marie Planchard
Treasurer/director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Katie Rast
Secretary/director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Luciano Betoldi | Vice President/coo | 40 | $135K | $0 | $621 | $135.6K |
Luciano Betoldi
Vice President/coo
$135.6K
Hrs/Wk
40
Compensation
$135K
Related Orgs
$0
Other
$621
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Blair Evans | Director | 1 | $0 | $0 | $0 | $0 |
Blair Evans
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| 2019 | $3.6M | $1.7M | $3.9M | $3.3M | $2.5M |
| 2018 | $4.7M | $3.2M | $5.4M | $3.8M | $2.8M |
| 2017 | $3.7M | $1.6M | $6.7M | $4.5M | $3.5M |
| 2016 | $7M | $3.6M | $7.8M | $7.6M | $6.5M |
| 2015 | $4.8M | $2.9M | $7.4M | $8.6M | $7.4M |
| 2014 | $1.6M | $952.4K | $1.9M | $10.7M | $10M |
| 2013 | $11.1M | $10.6M | $707K | $10.6M | $10.3M |
| 2012 | $347.4K | $63K | $349.6K | $161.5K | $17.2K |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |