Labfour Career Training Institute
- Assets
- $0.0
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 29
- Location
- Memphis, TN
- Founding
- 12/2016
- Data as of
- 12/2021
- EIN
- 26-4178652
Organization Overview
Labfour Career Training Institute is located in Memphis, TN. The organization was established in 2016. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 12/2021, Labfour Career Training Institute employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Labfour Career Training Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Labfour Career Training Institute generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.6% each year . All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 15.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LAB FOUR'S MISSION IS TO BECOME A KEY WORKFORCE DEVELOPMENT PARTNER IN THREE WAYS, BY PROFIDING THE BEST POSSIBLE TECHNOLOGY TRAINING TO HELP BUSINESSES BECOME MORE SUCCESSFUL, IN PROVIDING THE SKILLS AND CREDENTIALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Okhiria | OfficerTrustee | 10 | $0 |
Thurman Northcross | Trustee | 5 | $0 |
Saul Mbenga | Trustee | 5 | $0 |
Tony Okhiria | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,875,670 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,875,670 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,416,668 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $18,243 |
| Other employee benefits | $30,671 |
| Payroll taxes | $81,188 |
| Fees for services: Management | $27,695 |
| Fees for services: Legal | $11,860 |
| Fees for services: Accounting | $25,298 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $244,552 |
| Fees for services: Other | $58,855 |
| Advertising and promotion | $1,373 |
| Office expenses | $9,298 |
| Information technology | $171,630 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,735 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,978 |
| All other expenses | $868,655 |
| Total functional expenses | $3,896,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Labfour Career Training Institute has recieved totaling $14,039.
| Awarding Organization | Amount |
|---|---|
Memphis Bioworks Foundation Memphis, TN PURPOSE: FLOW THROUGH DOL GRANT | $14,039 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Kentucky Concentrated Employment Program Inc Hazard, KY | $3,193,926 | $15,607,928 |
Vacation Fund Of Engineers Local 513 Bridgeton, MO | $4,041,633 | $12,513,206 |
Black Smith Multi-Media Inc Montgomery, AL | $10,013,648 | $10,013,648 |
Cobbworks Inc Marietta, GA | $1,042,645 | $6,034,938 |
Point Programs Inc Covington, KY | $8,847,119 | $6,355,202 |
Tck Providence Inc Winston Salem, NC | $1,983,260 | $3,578,834 |
Operating Engineers Local 101 Vacation Fund Program Kansas City, MO | $980,403 | $4,925,526 |
Operating Engineers Local 513 Journeymen & Appren Training Fund Silex, MO | $12,590,709 | $5,420,076 |
Labfour Career Training Institute Memphis, TN | $0 | $5,875,670 |
International Union Of Oper Local 181 Apprenshp & Train Prog Engine Henderson, KY | $7,125,993 | $3,546,007 |
Atlanta Electrical Joint Apprenticeship & Training Committe Norcross, GA | $3,550,323 | $3,191,649 |
Eastern Carolina Workforce Development Board Inc New Bern, NC | $405,780 | $3,368,126 |