The Octet Collaborative Inc
EIN: 844881059 · Somerville, MA · NTEE: X20
About The Octet Collaborative Inc
The Octet Collaborative Inc (EIN: 844881059) is a nonprofit organization based in Somerville, MA, classified under NTEE code X20. The organization reported total revenue of $289K and total assets of $339K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Octet Collaborative Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for The Octet Collaborative Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Octet Collaborative Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Filing History
IRS 990 filing history for The Octet Collaborative Inc showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), The Octet Collaborative Inc's revenue has grown by 520.1%, moving from $35K to $218K. Total assets increased by 295.8% over the same period, from $35K to $139K. In its most recent filing year (2023), The Octet Collaborative Inc reported a surplus of $71K, with revenue exceeding expenses. The organization holds $3K in liabilities against $139K in assets (debt-to-asset ratio: 1.9%), resulting in net assets of $136K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $218K | $147K | $139K | $3K | — | View 990 |
| 2022 | $93K | $79K | $66K | $0 | — | View 990 |
| 2021 | $156K | $140K | $52K | $0 | — | — |
| 2020 | $35K | $0 | $35K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $218K, expenses of $147K, and assets of $139K (revenue +133.8% year-over-year).
- 2022: Revenue of $93K, expenses of $79K, and assets of $66K (revenue -40.4% year-over-year).
- 2021: Revenue of $156K, expenses of $140K, and assets of $52K (revenue +344.9% year-over-year).
- 2020: Revenue of $35K, expenses of $0, and assets of $35K.
Data Sources and Methodology
This transparency report for The Octet Collaborative Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.