Civic Intelligence

Lab Launch Inc.

990 • Fiscal year 2020 • EIN 47-1621472

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 25, 2021

Organization ProfileWWW.LABLAUNCH.ORG
605 E Huntington Dr 103Monrovia, CA 91016

(626) 408-2203

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

1.52x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

86th percentile

0.29x

Higher debt load relative to revenue than 86% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

45th percentile

2.1%

Higher net margin than 45% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

91st percentile

$46,923

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 13.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

26th percentile

-11%

Faster asset growth than 26% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

45th percentile

-20%

Faster revenue growth than 45% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$67,985

Down $8,271 (-11%) from 2019

Net Assets

Up

-$35,674

Up $7,700 (+18%) from 2019

Liabilities

Down

$103,659

Down $15,971 (-13%) from 2019

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin45th percentile

Revenue

Down

$360,976

Down $88,369 (-20%) from 2019

Expenses

Down

$353,276

Down $111,012 (-24%) from 2019

Net Income

Up

$7,700

Up $22,643 (+152%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0-$50K-$100KAssets 2015: $38,826Liabilities 2015: $49,146Net Assets 2015: -$10,3202015Assets 2016: $34,421Liabilities 2016: $62,772Net Assets 2016: -$28,3512016Assets 2017: $49,946Liabilities 2017: $90,540Net Assets 2017: -$40,5942017Assets 2018: $88,393Liabilities 2018: $106,824Net Assets 2018: -$18,4312018Assets 2019: $76,256Liabilities 2019: $119,630Net Assets 2019: -$43,3742019Assets 2020: $67,985Liabilities 2020: $103,659Net Assets 2020: -$35,6742020Assets 2021: $36,449Liabilities 2021: $101,247Net Assets 2021: -$64,7982021Assets 2022: $7,331Liabilities 2022: $48,483Net Assets 2022: -$41,1522022

Highlighted filing

2020

Assets$67,985
Liabilities$103,659
Net Assets-$35,674
Open 2020 Filing

Operations Trend

Revenue Growth45th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2015: $78,161Expenses 2015: $88,481Net Income 2015: -$10,3202015Revenue 2016: $195,261Expenses 2016: $213,292Net Income 2016: -$18,0312016Revenue 2017: $308,542Expenses 2017: $319,460Net Income 2017: -$10,9182017Revenue 2018: $408,463Expenses 2018: $386,300Net Income 2018: $22,1632018Revenue 2019: $449,345Expenses 2019: $464,288Net Income 2019: -$14,9432019Revenue 2020: $360,976Expenses 2020: $353,276Net Income 2020: $7,7002020Revenue 2021: $9,763Expenses 2021: $38,887Net Income 2021: -$29,1242021Revenue 2022: $36,193Expenses 2022: $12,547Net Income 2022: $23,6462022

Highlighted filing

2020

Revenue$360,976
Expenses$353,276
Net Income$7,700
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 25, 2021
Return Version
2020v4.0
Gross Receipts
$360,976
Mission and Program Overview

Mission

The mission of the organization is to enable los angeles' scientists and entrepreneurs to develop their ideas in affordable, high-quality lab facilities, with access to services and a supportive innovation community to accelerate their success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$65,952$49,726▼ $16,226
Cash and Non-Interest-Bearing Accounts$10,304$16,488▲ $6,184
Accounts Receivable-$935-
Prepaid Expenses and Deferred Charges-$619-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$76,256$67,985▼ $8,271
Other Assets Total-$217-
Liabilities
Other Liabilities$99,630$83,659▼ $15,971
Unsecured Notes Loans Payable$20,000$20,000→ $0
Total Liabilities$119,630$103,659▼ $15,971
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-43,374$-35,674▲ $7,700
Total Net Assets Fund Balance$-43,374$-35,674▲ $7,700
Total Liabilities and Net Assets / Fund Balance$76,256$67,985▼ $8,271

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$49,726$45,957$95,683
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marie RippenCEOFT$46,923$46,923
Llewellyn CoxDirectorPT$4,375$4,375

Board Members and Trustees

NameTitle
Arye LipmanDirector
Blaine FetterDirector
Nardo Manoloto Resigned Oct 2019Director
Sara HammesDirector
Steve CasperDirector
Thomas AdamsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$359,866
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,110
All Other Contributions
$67
Change in Net Assets
$7,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$278,309
Salaries, Compensation, and Employee Benefits$74,967
Total Fundraising Expense$3,886
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$153,000$27,000-$180,000
Current Officers, Directors, Trustees, and Key Employees$41,038$7,695$2,565$51,298
Other Salaries and Wages$13,840$2,595$865$17,300
Depreciation Depletion$12,981$3,245-$16,226
Insurance$6,155$1,086-$7,241
Interest$6,131$1,082-$7,213
Fees for Services Accounting-$6,818-$6,818
Payroll Taxes$4,434$831$277$5,542
All Other Expenses$2,823$2,222$33$5,078
Fees for Services Legal-$3,824-$3,824
Other Expenses$1,654$310$103$2,067
Other Employee Benefits$496$290$41$827
Office Expenses$202$36$2$240
Advertising$33--$33
Total Functional Expenses$282,792$66,598$3,886$353,276
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Blaine FetterBoard MemberRentNo$180,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$60,259
Member Deposits$23,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents

“The organization amended its articles of incorporation on january 6, 2020.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed and approved by the treasurer and one board member before filing.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The compensation of the executive director is discussed, reviewed, and approved annually by the board of directors based upon annual performance evaluation.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Form 990 is available through www.guidestar.org”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are available upon request”

Form 990, Part VIII, Line 1E - Government Grants (contributions)

“The organization received a loan from the sba through the payroll protection program. The loan was obtained to help the organization with payroll and other operating costs in response to the covid-19 crisis. The organization spent the proceeds from the loan in accordance with the loan requirements, and expects the loan to be fully forgiven. Since the organization believes the loan will be fully forgiven, the proceeds totaling $26,562 are recognized as government grants (contributions) on this tax return.”

Filing and Contact Details

Filer

Filer Name
Lab Launch Inc
EIN
47-1621472
Phone
6264082203
Address
605 E HUNTINGTON DR 103, MONROVIA, CA 91016

Signing Officer

Name
Marie Rippen
Title
CEO
Signed
2021-10-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marie Rippen
Formed
2014
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
4
Volunteers
7

Preparer

Firm
Kevin Wong CPA
Address
301 E foothill blvd ste 202, arcadia, CA 91006
Preparer
Kevin Wong
Phone
6262474339
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0303630
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0194744
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0194746
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt045957
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt095683
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt060259
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt123400
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MEMBER DEPOSITS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION AMENDED ITS ARTICLES OF INCORPORATION ON JANUARY 6, 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED AND APPROVED BY THE TREASURER AND ONE BOARD MEMBER BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS DISCUSSED, REVIEWED, AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS BASED UPON ANNUAL PERFORMANCE EVALUATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS AVAILABLE THROUGH WWW.GUIDESTAR.ORG
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION RECEIVED A LOAN FROM THE SBA THROUGH THE PAYROLL PROTECTION PROGRAM. THE LOAN WAS OBTAINED TO HELP THE ORGANIZATION WITH PAYROLL AND OTHER OPERATING COSTS IN RESPONSE TO THE COVID-19 CRISIS. THE ORGANIZATION SPENT THE PROCEEDS FROM THE LOAN IN ACCORDANCE WITH THE LOAN REQUIREMENTS, AND EXPECTS THE LOAN TO BE FULLY FORGIVEN. SINCE THE ORGANIZATION BELIEVES THE LOAN WILL BE FULLY FORGIVEN, THE PROCEEDS TOTALING $26,562 ARE RECOGNIZED AS GOVERNMENT GRANTS (CONTRIBUTIONS) ON THIS TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VIII, LINE 1E - GOVERNMENT GRANTS (CONTRIBUTIONS)
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$67,985
Liabilities
$103,659
Net assets
-$35,674
Revenue
$360,976
Expenses
$353,276
Net income
$7,700
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.07$0.48$0.41$0.36$0.13$0.24
2021Detailed filing. Detailed filing data is available for this year.$0.36$1.01$0.65$0.10$0.39$0.29
2020Detailed filing. Detailed filing data is available for this year.$0.68$1.04$0.36$3.61$3.53$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.76$1.20$0.43$4.49$4.64$0.15
2018Detailed filing. Detailed filing data is available for this year.$0.88$1.07$0.18$4.08$3.86$0.22
2017Detailed filing. Detailed filing data is available for this year.$0.50$0.91$0.41$3.09$3.19$0.11
2016Detailed filing. Detailed filing data is available for this year.$0.34$0.63$0.28$1.95$2.13$0.18
2015Detailed filing. Detailed filing data is available for this year.$0.39$0.49$0.10$0.78$0.88$0.10