Civic Intelligence

Iron Light Labs

990 • Fiscal year 2023 • EIN 86-1206324

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 11, 2024

Organization ProfileWWW.IRONLIGHTLABS.ORG
300 S Riverside Plaza 1625Chicago, IL 60606

(312) 953-2006

Siviq Scores

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

Liabilities / Assets

99th percentile

3.23x

Higher debt load relative to assets than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

47th percentile

0.07x

Higher debt load relative to revenue than 47% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

28th percentile

-6.1%

Higher net margin than 28% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

1st percentile

-88%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

72nd percentile

26%

Faster revenue growth than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$38,819

Down $273,423 (-88%) from 2022

Net Assets

Down

-$86,739

Down $105,967 (-551%) from 2022

Liabilities

Down

$125,558

Down $167,456 (-57%) from 2022

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin28th percentile

Revenue

Up

$1,745,053

Up $360,014 (+26%) from 2022

Expenses

Up

$1,851,020

Up $483,105 (+35%) from 2022

Net Income

Down

-$105,967

Down $123,091 (-719%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

2023

Assets$38,819
Liabilities$125,558
Net Assets-$86,739
Open 2023 Filing

Operations Trend

Revenue Growth72nd percentile

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

2023

Revenue$1,745,053
Expenses$1,851,020
Net Income-$105,967
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 11, 2024
Return Version
2023v5.1
Gross Receipts
$1,745,053
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$75,000$17,500▼ $57,500
Prepaid Expenses and Deferred Charges$5,850$16,120▲ $10,270
Cash and Non-Interest-Bearing Accounts$1,090$5,199▲ $4,109
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Other Assets Total$230,302$0▼ $230,302
Total Assets$312,242$38,819▼ $273,423
Liabilities
Other Liabilities$138,638$0▼ $138,638
Accounts Payable and Accrued Expenses$154,376$125,558▼ $28,818
Total Liabilities$293,014$125,558▼ $167,456
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$29,468-
Net Assets Without Donor Restrictions$19,228$-116,207▼ $135,435
Total Net Assets Fund Balance$19,228$-86,739▼ $105,967
Total Liabilities and Net Assets / Fund Balance$312,242$38,819▼ $273,423
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Eric TubbsChairman
John TillmanDirector
Kent EmmonsDirector
Mark MillerDirector
Sara AlbrechtDirector
Scott BarbieDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Destination Musick CitySpecial Event Services193 POLK AVENUE SUITE G, Nashville, TN 37210$200,000
Just Add Firewater LLCVideo Production706 N CAROLINA AVE SE, Washington, DC 20003$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$1,745,053
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,745,053
Change in Net Assets
$-105,967

Noncash Contribution Practices

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

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,745,053
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,745,053
Total Revenue per Form 990
$1,745,053
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,728,088
Salaries, Compensation, and Employee Benefits$112,932
Total Fundraising Expense$36,218
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$632,923$99,129$36,000$768,052
Advertising$602,651--$602,651
Conferences and Meetings$296,357$7,664-$304,021
Other Salaries and Wages$96,036--$96,036
Office Expenses$27,215--$27,215
Fees for Services Accounting-$18,000-$18,000
Payroll Taxes$7,406$3,261-$10,667
Grants to Domestic Orgs$10,000--$10,000
Insurance-$8,728-$8,728
Other Employee Benefits$6,699$-470-$6,229
Fees for Services Legal$3,580$463-$4,043
Other Expenses$2,481$-8,124$218$-5,643
Total Functional Expenses$1,685,348$129,454$36,218$1,851,020

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,851,020
Total Expenses per Audited Statements$1,851,020
Total Expenses per Form 990$1,851,020
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Chestnut Mountain Presbyterian ChurchChestnut Mountain, GA-Grant to Organization That Shares Similar Principles$10,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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
300 S RIVERSIDE PLAZA 1625, CHICAGO, IL 60606

Signing Officer

Name
Eric Tubbs
Title
Chairman
Phone
3129532006
Signed
2024-11-11
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
4
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 542,308. Management and general expenses 0. Fundraising expenses 0. Total expenses 542,308. Fees and services: program service expenses 90,615. Management and general expenses 99,129. Fundraising expenses 36,000. Total expenses 225,744.”

Part IX, Line 7

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

Raw XML Appendix384 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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01147936
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0886061
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03761550
IRS990ScheduleA/TotalSupportAmt03761550
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01851020
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01745053
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01851020
IRS990ScheduleD/TotalRevenuePerForm990Amt01745053
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01745053
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01851020
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GRANT TO ORGANIZATION THAT SHARES SIMILAR PRINCIPLES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CHESTNUT MOUNTAIN PRESBYTERIAN CHURCH
IRS990ScheduleI/RecipientTable/RecipientEIN0581088923
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 7280
IRS990ScheduleI/RecipientTable/USAddress/CityNm0CHESTNUT MOUNTAIN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0GA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd030502
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL SPENDING IS MONITORED THROUGH THE ACCOUNTING SOFTWARE AND PROJECT MANAGEMENT TOOLS. A NARRITAVE SUMMARY IS ALSO KEPT FOR ALL PROJECTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0TD AMERITRADE IS USED TO SELL PUBLICALLY TRADED STOCK THAT IS DONATED.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 32B:
IRS990ScheduleM/ThirdPartiesUsedInd01
IRS990/ScheduleORequiredInd01
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 542,308. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 542,308. FEES AND SERVICES: PROGRAM SERVICE EXPENSES 90,615. MANAGEMENT AND GENERAL EXPENSES 99,129. FUNDRAISING EXPENSES 36,000. TOTAL EXPENSES 225,744.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SALARIES AND WAGES ARE PAID THROUGH BEARING TREE, INCORPORATED, FEIN 83-2543436
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART IX, LINE 7
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0312242
IRS990/TotalAssetsEOYAmt038819
IRS990/TotalAssetsGrp/BOYAmt0312242
IRS990/TotalAssetsGrp/EOYAmt038819
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01745053
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt036218
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0129454
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01685348
IRS990/TotalFunctionalExpensesGrp/TotalAmt01851020
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0293014
IRS990/TotalLiabilitiesEOYAmt0125558
IRS990/TotalLiabilitiesGrp/BOYAmt0293014
IRS990/TotalLiabilitiesGrp/EOYAmt0125558
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019228
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-86739
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01685348
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01745053
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0312242
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt038819
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.IRONLIGHTLABS.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ERIC TUBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03129532006
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IRON LIGHT LABS
ReturnHeader/Filer/BusinessNameControlTxt0IRON
ReturnHeader/Filer/EIN0861206324
ReturnHeader/Filer/PhoneNum03129532006
ReturnHeader/Filer/USAddress/AddressLine1Txt0300 S RIVERSIDE PLAZA 1625
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060606
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
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/ReturnTs02024-11-14T09:57:59-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$38,819
Liabilities
$125,558
Net assets
-$86,739
Revenue
$1,745,053
Expenses
$1,851,020
Net income
-$105,967
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