Civic Intelligence

Life Changing Labs Foundation

990EZ • Fiscal year 2023 • EIN 47-5673329

Jan 01, 2023 to Dec 31, 2023 • Filed on May 14, 2024

407 College Ave Pmb 188Ithaca, NY 14850

(617) 372-6788

Siviq Scores

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

Liabilities / Assets

75th percentile

0.02x

Higher debt load relative to assets than 75% of similar nonprofits.

2023 filings • NTEE B80 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

0.01x

Higher debt load relative to revenue than 75% of similar nonprofits.

2023 filings • NTEE B80 • <$500k nonprofits • Source year 2023

Net Margin

71st percentile

32%

Higher net margin than 71% of similar nonprofits.

2023 filings • NTEE B80 • <$500k nonprofits • Source year 2023

Top Officer Pay

88th percentile

$7,500

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 12.7% of source-year revenue.

2023 filings • NTEE B80 • <$500k nonprofits • Source year 2023

Asset Growth

83rd percentile

72%

Faster asset growth than 83% of similar nonprofits.

2023 filings • NTEE B80 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

17%

Faster revenue growth than 57% of similar nonprofits.

2023 filings • NTEE B80 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$44,935

Up $18,873 (+72%) from 2022

Net Assets

Up

$44,189

Up $18,784 (+74%) from 2022

Liabilities

Up

$746

Up $89 (+14%) from 2022

Revenue

Up

$59,202

Up $8,410 (+17%) from 2022

Expenses

Down

$40,329

Down $18,862 (-32%) from 2022

Net Income

Up

$18,873

Up $27,272 (+325%) from 2022

Historical Trend

Balance Sheet Trend

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

$60K$40K$20K$0-$20KAssets 2017: $16,104Liabilities 2017: $6,560Net Assets 2017: $9,5442017Assets 2018: $41,314Liabilities 2018: $6,560Net Assets 2018: $34,7542018Assets 2019: $13,467Liabilities 2019: $746Net Assets 2019: $12,7212019Assets 2020: $589Liabilities 2020: $657Net Assets 2020: -$682020Assets 2021: $34,461Liabilities 2021: $657Net Assets 2021: $33,8042021Assets 2022: $26,062Liabilities 2022: $657Net Assets 2022: $25,4052022Assets 2023: $44,935Liabilities 2023: $746Net Assets 2023: $44,1892023Assets 2024: $1,752Liabilities 2024: $0Net Assets 2024: $1,7522024

Highlighted filing

2023

Assets$44,935
Liabilities$746
Net Assets$44,189

Operations Trend

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

$100K$50K$0-$50KRevenue 2017: $35,050Expenses 2017: $21,910Net Income 2017: $13,1402017Revenue 2018: $85,368Expenses 2018: $60,156Net Income 2018: $25,2122018Revenue 2019: $54,102Expenses 2019: $95,554Net Income 2019: -$41,4522019Revenue 2020: $35,103Expenses 2020: $47,892Net Income 2020: -$12,7892020Revenue 2021: $60,125Expenses 2021: $26,253Net Income 2021: $33,8722021Revenue 2022: $50,792Expenses 2022: $59,191Net Income 2022: -$8,3992022Revenue 2023: $59,202Expenses 2023: $40,329Net Income 2023: $18,8732023Revenue 2024: $48,758Expenses 2024: $91,195Net Income 2024: -$42,4372024

Highlighted filing

2023

Revenue$59,202
Expenses$40,329
Net Income$18,873
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 14, 2024
Return Version
2023v5.0
Gross Receipts
$59,202
Mission and Program Overview

Mission

See program service accomplishments.

Program Services

DescriptionGrantsExpenses
LCL SERVES AS ONE OF THE HUBS FOR ENTREPRENEURSHIP, AS WE PROVIDE RESOURCES AND OPPORTUNITIES FOR BUSINESS DEVELOPMENT AND NETWORKING. WE PLAN AND HOST SCHOOL-WIDE, MONTHLY AND ANNUAL ENTREPRENEURSHIP EVENTS. OVER THE SUMMER WE RUN AN INCUBATOR PROGRAM TO HELP COMPANIES EXPAND AND BUILD THEIR STARTUPS AND PRODUCTS. IN ADDITION, WE BRING IN INFLUENTIAL GUEST SPEAKERS AND MENTORS TO INSPIRE AND MOTIVATE STUDENT ENTREPRENEURS.$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
JEAN TURBANExecutive Director-$7,500-$7,500
JONG WON KIMChairman-$0--
DAVID JOHNSONBoard Member-$0--
PAM SILVERSTEINBoard Member-$0--
SANG WON YOONSecretary-$0--
Filing and Contact Details

Filer

Filer Name
Life Changing Labs Foundation
EIN
47-5673329
Phone
6173726788
Address
407 COLLEGE AVE PMB 188, ITHACA, NY 14850

Signing Officer

Name
Jong Won Kim
Title
Chairman
Phone
6173726788
Signed
2024-05-14
Discuss with paid preparer
Yes

Preparer

Firm
Sciarabba Walker & Co Llp
Address
410 EAST UPLAND ROAD, ITHACA, NY 14850
Preparer
Amy a Iles
Phone
6072725550
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 8 - Other Revenue

Description: interest income. Amount: 2.

Form 990-ez, Part I, Line 16 - Other Expenses

Description: scholarships & grants. Amount: 10,750. Description: computer expenses. Amount: 1,410. Description: meals & entertainment. Amount: 6,757. Description: taxes & licenses. Amount: 575. Description: office expenses. Amount: 553. Description: misccellaneous expenses. Amount: 179. Description: subcontractors. Amount: 9,000. Total to form 990-ez, line 16: 29,224.

Form 990-ez, Part I, Line 20 - Other Changes in Net Assets

Description: payroll liabilities. Amount: -89.

Form 990-ez, Part II, Line 26 - Other Liabilities

Description: payables to officers. Beg. Of year amount: 657. End of year amount: 657. Description: payroll liabilities. Beg. Of year amount: 0. End of year amount: 89.

Raw XML Appendix173 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0JONG WON KIM
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2PAM SILVERSTEIN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3SANG WON YOON
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4JEAN TURBAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0CHAIRMAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1BOARD MEMBER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2BOARD MEMBER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3SECRETARY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4EXECUTIVE DIRECTOR
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherChangesInNetAssetsAmt0-89
IRS990EZ/OtherExpensesTotalAmt029224
IRS990EZ/OtherRevenueTotalAmt02
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
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IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0SEE PROGRAM SERVICE ACCOMPLISHMENTS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0LCL SERVES AS ONE OF THE HUBS FOR ENTREPRENEURSHIP, AS WE PROVIDE RESOURCES AND OPPORTUNITIES FOR BUSINESS DEVELOPMENT AND NETWORKING. WE PLAN AND HOST SCHOOL-WIDE, MONTHLY AND ANNUAL ENTREPRENEURSHIP EVENTS. OVER THE SUMMER WE RUN AN INCUBATOR PROGRAM TO HELP COMPANIES EXPAND AND BUILD THEIR STARTUPS AND PRODUCTS. IN ADDITION, WE BRING IN INFLUENTIAL GUEST SPEAKERS AND MENTORS TO INSPIRE AND MOTIVATE STUDENT ENTREPRENEURS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt00
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IRS990EZ/ProhibitedTaxShelterTransInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt057757
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt035103
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt054102
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0256858
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: INTEREST INCOME. AMOUNT: 2.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: SCHOLARSHIPS & GRANTS. AMOUNT: 10,750. DESCRIPTION: COMPUTER EXPENSES. AMOUNT: 1,410. DESCRIPTION: MEALS & ENTERTAINMENT. AMOUNT: 6,757. DESCRIPTION: TAXES & LICENSES. AMOUNT: 575. DESCRIPTION: OFFICE EXPENSES. AMOUNT: 553. DESCRIPTION: MISCCELLANEOUS EXPENSES. AMOUNT: 179. DESCRIPTION: SUBCONTRACTORS. AMOUNT: 9,000. TOTAL TO FORM 990-EZ, LINE 16: 29,224.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: PAYROLL LIABILITIES. AMOUNT: -89.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION: PAYABLES TO OFFICERS. BEG. OF YEAR AMOUNT: 657. END OF YEAR AMOUNT: 657. DESCRIPTION: PAYROLL LIABILITIES. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 89.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 8 - OTHER REVENUE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART I, LINE 20 - OTHER CHANGES IN NET ASSETS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JONG WON KIM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06173726788
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIFE CHANGING LABS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0LIFE
ReturnHeader/Filer/EIN0475673329
ReturnHeader/Filer/PhoneNum06173726788
ReturnHeader/Filer/USAddress/AddressLine1Txt0407 COLLEGE AVE PMB 188
ReturnHeader/Filer/USAddress/CityNm0ITHACA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0161071694
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCIARABBA WALKER & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0410 EAST UPLAND ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ITHACA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd014850
ReturnHeader/PreparerPersonGrp/PhoneNum06072725550
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMY A ILES
ReturnHeader/ReturnTs02024-05-14T13:36:03-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JONG
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WON KIM
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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