Civic Intelligence

Labnet Inc

990 • Fiscal year 2016 • EIN 84-1508049

Sep 01, 2015 to Aug 31, 2016 • Filed on Nov 29, 2016

7300 Metro Blvd No 500Minneapolis, MN 55439

(952) 896-1700

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$310,809

Up $23,598 (+8.2%) from 2015

Net Assets

Up

$310,809

Up $23,598 (+8.2%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses

Revenue

Down

$267,647

Down $7,464 (-2.7%) from 2015

Expenses

Up

$244,774

Up $56,594 (+30%) from 2015

Net Income

Down

$22,873

Down $64,058 (-74%) from 2015

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2010: $100,908Liabilities 2010: $0Net Assets 2010: $100,9082010Assets 2011: $31,691Liabilities 2011: $0Net Assets 2011: $31,6912011Assets 2012: $113,497Liabilities 2012: $0Net Assets 2012: $113,4972012Assets 2013: $148,195Liabilities 2013: $0Net Assets 2013: $148,1952013Assets 2014: $202,479Liabilities 2014: $1,500Net Assets 2014: $200,9792014Assets 2015: $287,211Liabilities 2015: $0Net Assets 2015: $287,2112015Assets 2016: $310,809Liabilities 2016: $0Net Assets 2016: $310,8092016Assets 2017: $378,692Liabilities 2017: $0Net Assets 2017: $378,6922017Assets 2022: $267,637Liabilities 2022: $0Net Assets 2022: $267,6372022Assets 2023: $246,519Liabilities 2023: $0Net Assets 2023: $246,5192023Assets 2024: $224,191Liabilities 2024: $0Net Assets 2024: $224,1912024

Highlighted filing

2016

Assets$310,809
Liabilities$0
Net Assets$310,809

Operations Trend

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

$400K$200K$0-$200KExpenses 2010: $317,9842010Expenses 2011: $219,6722011Expenses 2012: $208,4642012Expenses 2013: $211,1642013Revenue 2014: $255,943Expenses 2014: $203,159Net Income 2014: $52,7842014Revenue 2015: $275,111Expenses 2015: $188,180Net Income 2015: $86,9312015Revenue 2016: $267,647Expenses 2016: $244,774Net Income 2016: $22,8732016Revenue 2017: $335,490Expenses 2017: $267,607Net Income 2017: $67,8832017Revenue 2022: $86,584Expenses 2022: $208,790Net Income 2022: -$122,2062022Revenue 2023: $224,886Expenses 2023: $246,004Net Income 2023: -$21,1182023Revenue 2024: $224,965Expenses 2024: $247,293Net Income 2024: -$22,3282024

Highlighted filing

2016

Revenue$267,647
Expenses$244,774
Net Income$22,873
Jump To
Filing Snapshot
Filing Period
Sep 1, 2015 to Aug 31, 2016
Signed
Nov 29, 2016
Return Version
2015v2.1
Gross Receipts
$267,647
Mission and Program Overview

Mission

Association of Management Labor Law Firms.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$287,211$310,809▲ $23,598
Cash and Non-Interest-Bearing Accounts$224,994$240,819▲ $15,825
Savings and Temporary Cash Investments$51,309$51,324▲ $15
Intangible Assets$10,908$18,666▲ $7,758
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$287,211$310,809▲ $23,598
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$287,211$310,809▲ $23,598
Total Liabilities and Net Assets / Fund Balance$287,211$310,809▲ $23,598
Compensation and Service Providers

Board Members and Trustees

NameTitle
Millicent SanchezPresident
Ralph AbbottDirector
Doug SeatonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$267,632
Program Service Revenue
$0
Investment Income
$15
Other Revenue
$0
Change in Net Assets
$22,873
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$244,774
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$76,793
Fees for Services Legal---$69,068
Conferences and Meetings---$59,335
Information Technology---$32,264
Fees for Services Other---$2,730
Insurance---$1,550
Depreciation Depletion---$1,401
Office Expenses---$983
Fees for Services Accounting---$650
Total Functional Expenses$0$0$0$244,774
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

501(c)(6) organization is an association of members.

Form 990, Part VI, Section A, line 7B

Members approve all decisions.

Form 990, Part VI, Section B, line 11

Treasurer reviews, signs and files the return which is later reviewed by officers and executive committee.

Form 990, Part VI, Section B, line 12C

Interests that could give rise to conflicts are reviewed at each meeting, discussed and disclosed.

Form 990, Part VI, Section C, line 19

Documents are provided upon request.

Filing and Contact Details

Filer

Filer Name
Labnet Inc
EIN
84-1508049
Phone
9528961700
Address
7300 Metro Blvd No 500, Minneapolis, MN 55439
Doing Business As
Worklaw Network

Signing Officer

Name
Doug Seaton
Title
Treasurer
Phone
9528961700
Signed
2016-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Seaton
Formed
1999
Legal Domicile
Mn
Voting Board Members
350
Independent Board Members
350
Employees
0
Volunteers
0

Preparer

Firm
Amy Petersen CPA LLC
Address
1720 South Bellaire St Suite 710, Denver, CO 80222
Preparer
Amy L Petersen
Phone
3037968766
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Filings