Civic Intelligence

Iron Light Labs

990 • Fiscal year 2021 • EIN 86-1206324

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 11, 2022

Organization ProfileWWW.IRONLIGHTLABS.ORG
190 S Lasalle Street Suite 1500Chicago, IL 60603

(312) 953-2006

Siviq Scores

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

Liabilities / Assets

94th percentile

0.99x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

72nd percentile

0.19x

Higher debt load relative to revenue than 72% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

28th percentile

0.2%

Higher net margin than 28% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

91st percentile

$116,968

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 12.8% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets94th percentile

Assets

$172,661

No earlier filing loaded for comparison.

Net Assets

$2,104

No earlier filing loaded for comparison.

Liabilities

$170,557

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin28th percentile

Revenue

$916,061

No earlier filing loaded for comparison.

Expenses

$913,957

No earlier filing loaded for comparison.

Net Income

$2,104

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$400K$300K$200K$100K$0-$100KAssets 2021: $172,661Liabilities 2021: $170,557Net Assets 2021: $2,1042021Assets 2022: $312,242Liabilities 2022: $293,014Net Assets 2022: $19,2282022Assets 2023: $38,819Liabilities 2023: $125,558Net Assets 2023: -$86,7392023Assets 2024: $159,248Liabilities 2024: $113,110Net Assets 2024: $46,1382024

Highlighted filing

2021

Assets$172,661
Liabilities$170,557
Net Assets$2,104
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2021: $916,061Expenses 2021: $913,957Net Income 2021: $2,1042021Revenue 2022: $1,385,039Expenses 2022: $1,367,915Net Income 2022: $17,1242022Revenue 2023: $1,745,053Expenses 2023: $1,851,020Net Income 2023: -$105,9672023Revenue 2024: $700,622Expenses 2024: $603,433Net Income 2024: $97,1892024

Highlighted filing

2021

Revenue$916,061
Expenses$913,957
Net Income$2,104
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 11, 2022
Return Version
2021v4.2
Gross Receipts
$916,061
Mission and Program Overview

Mission

Iron light labs runs a creative incubator that develops netflix-quality films to persuade audiences and impact culture, experiments with humor to cut through the attention economy, and brings nontraditional partners together to create a community of well-trained advocates for a free society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$160,000-
Cash and Non-Interest-Bearing Accounts-$9,722-
Total Assets$0$172,661▲ $172,661
Other Assets Total-$2,939-
Liabilities
Other Liabilities$0$93,240▲ $93,240
Accounts Payable and Accrued Expenses-$77,317-
Total Liabilities$0$170,557▲ $170,557
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$2,104-
Total Net Assets Fund Balance$0$2,104▲ $2,104
Total Liabilities and Net Assets / Fund Balance$0$172,661▲ $172,661
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Eric TubbsChairmanFT$116,968$116,968

Board Members and Trustees

NameTitle
John TillmanDirector
Mark MillerDirector
Scott BarbieDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$886,061
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$30,000
All Other Contributions
$886,061
Change in Net Assets
$2,104

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
Yes
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$911,707
Total Fundraising Expense$32,628
Grants and Similar Amounts Paid$2,250
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$196,748--$196,748
Other Expenses$57,749$32,537$32,537$57,749
Advertising$57,350--$57,350
All Other Expenses$34,023$6,449$91$40,563
Fees for Services Legal$12,263--$12,263
Insurance-$2,284-$2,284
Grants to Domestic Orgs$2,250--$2,250
Total Functional Expenses$840,059$41,270$32,628$913,957
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$93,240
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Prior to submission to the irs, form 990 is provided to the principal officer and governing body of the organzation for review.”

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

“The organization reviews the conflict of interest policy once a year with the board of directors and employees and inquires of any material changes.”

Form 990, Part VI, Section B, Line 15

“Compensation of ceo is determined by an examination of comparable data for other ceo's in the industry countrywide and in the chicagoland area. The information from that research is shared with the board of directors who then approve compensation for the ceo. Note that an independent consultant is not utilized in the process.”

Form 990, Part VI, Section C, Line 19

“All governing documents, policies, and financial statements will be available upon request.”

Filing and Contact Details

Filer

Filer Name
Iron Light Labs
EIN
86-1206324
Phone
3129532006
Address
190 S LASALLE STREET SUITE 1500, CHICAGO, IL 60603

Signing Officer

Name
Eric Tubbs
Title
Chairman
Phone
3129532006
Signed
2022-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Tubbs
Formed
2021
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Weiss & Company Llp
Address
2700 PATRIOT BOULEVARD - SUITE 400, GLENVIEW, IL 60026
Preparer
Jeremy Morgan
Phone
8474418800
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting services: program service expenses 196,748. Management and general expenses 0. Fundraising expenses 0. Total expenses 196,748.”

Part IX, Line 7

“Salaries and wages are paid through bearing tree, incorporated, fein 83-2543436”

Raw XML Appendix346 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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IRS990/ActivityOrMissionDesc0IRON LIGHT LABS RUNS A CREATIVE INCUBATOR THAT DEVELOPS NETFLIX-QUALITY FILMS TO PERSUADE AUDIENCES AND IMPACT CULTURE, EXPERIMENTS WITH HUMOR TO CUT THROUGH THE ATTENTION ECONOMY, AND BRINGS NONTRADITIONAL PARTNERS TOGETHER TO CREATE A COMMUNITY OF WELL-TRAINED ADVOCATES FOR A FREE SOCIETY.
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IRS990/MissionDesc0IRON LIGHT LABS RUNS A CREATIVE INCUBATOR THAT DEVELOPS NETFLIX-QUALITY FILMS TO PERSUADE AUDIENCES AND IMPACT CULTURE, EXPERIMENTS WITH HUMOR TO CUT THROUGH THE ATTENTION ECONOMY, AND BRINGS NONTRADITIONAL PARTNERS TOGETHER TO CREATE A COMMUNITY OF WELL-TRAINED ADVOCATES FOR A FREE SOCIETY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRIOR TO SUBMISSION TO THE IRS, FORM 990 IS PROVIDED TO THE PRINCIPAL OFFICER AND GOVERNING BODY OF THE ORGANZATION FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY ONCE A YEAR WITH THE BOARD OF DIRECTORS AND EMPLOYEES AND INQUIRES OF ANY MATERIAL CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION OF CEO IS DETERMINED BY AN EXAMINATION OF COMPARABLE DATA FOR OTHER CEO'S IN THE INDUSTRY COUNTRYWIDE AND IN THE CHICAGOLAND AREA. THE INFORMATION FROM THAT RESEARCH IS SHARED WITH THE BOARD OF DIRECTORS WHO THEN APPROVE COMPENSATION FOR THE CEO. NOTE THAT AN INDEPENDENT CONSULTANT IS NOT UTILIZED IN THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS WILL BE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 196,748. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 196,748.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SALARIES AND WAGES ARE PAID THROUGH BEARING TREE, INCORPORATED, FEIN 83-2543436
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IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0172661
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0172661
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0886061
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt032628
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt041270
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0840059
IRS990/TotalFunctionalExpensesGrp/TotalAmt0913957
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0170557
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IRS990/TotalLiabilitiesGrp/EOYAmt0170557
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02104
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0840059
IRS990/TotalReportableCompFromOrgAmt0116968
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt030000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0916061
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0172661
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.IRONLIGHTLABS.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ERIC TUBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03129532006
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IRON LIGHT LABS
ReturnHeader/Filer/BusinessNameControlTxt0IRON
ReturnHeader/Filer/EIN0861206324
ReturnHeader/Filer/PhoneNum03129532006
ReturnHeader/Filer/USAddress/AddressLine1Txt0190 S LASALLE STREET SUITE 1500
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060603
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362663249
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WEISS & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02700 PATRIOT BOULEVARD - SUITE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENVIEW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060026
ReturnHeader/PreparerPersonGrp/PhoneNum08474418800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEREMY MORGAN
ReturnHeader/ReturnTs02022-11-15T13:51:26-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ERIC
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TUBBS
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$172,661
Liabilities
$170,557
Net assets
$2,104
Revenue
$916,061
Expenses
$913,957
Net income
$2,104
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.16$0.11$0.05$0.70$0.60$0.10
2023Detailed filing. Detailed filing data is available for this year.$0.04$0.13$0.09$1.75$1.85$0.11
2022Detailed filing. Detailed filing data is available for this year.$0.31$0.29$0.02$1.39$1.37$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.17$0.17$0.00$0.92$0.91$0.00