Lab Central Inc
- Assets
- $43.6m
- Revenue
- $21.8m
- Investments
- $0.0
- Employees
- 77
- Location
- Cambridge, MA
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 46-1031913
Organization Overview
Lab Central Inc is located in Cambridge, MA. The organization was established in 2014. According to its NTEE Classification (U02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Lab Central Inc employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lab Central Inc 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, Lab Central Inc generated $21.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $19.1m during the year ending 12/2021. While expenses have increased by 13.4% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LAB CENTRAL SUPPORTS CREATION OF INNOVATIVE STARTUP BIOTECHNOLOGY COMPANIES BY PROVIDING A WORLD-CLASS ENVIRONMENT FOR ENTREPRENEURS, AND A FULLY FUNCTIONAL LIFE SCIENCES LABORATORY WITHIN THE KENDALL SQUARE INNOVATION HUB.
Describe the Organization's Program Activity:
HELP CREATE THE NEXT GENERATION OF BIOTECH COMPANIES BY PROVIDING ENTREPRENEURS AND INNOVATIVE LIFE SCIENCES STARTUPS WITH THE SPACE AND RESOURCES NEEDED TO TEST OUT, CHALLENGE, AND NURTURE EARLY IDEAS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret E O'toole Chief Operating Officer | 40 | $342,095 | |
Johannes Fruehauf MD PHD President | OfficerTrustee | 26 | $321,907 |
Peter Shanley Cfo/treasurer | Officer | 30 | $288,857 |
Mike Larhette Chief Business Officer | 36 | $259,897 | |
Celina C Chang Vp, Science Operation & Strategic Relationships | Officer | 40 | $250,466 |
Shawn Ayube Dir. Of Harvard Life Lab | 40 | $212,810 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emcor Services Northeast Inc Hvac | 12/30/21 | $2,665,530 |
Triumvirate Enviornmental Ehs Services | 12/30/21 | $467,399 |
Perkins & Will Architectural Services | 12/30/21 | $352,429 |
Mitimco Construction | 12/30/21 | $7,623,268 |
Turner Construction Company Construction | 12/30/21 | $4,262,014 |
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 | $6,081,659 |
| Noncash contributions included in lines 1a–1f | $1,550,698 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,081,659 |
| Total Program Service Revenue | $15,565,479 |
| Investment income | $44,818 |
| 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 | $21,795,021 |
| 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. | $881,245 |
| Compensation of current officers, directors, key employees. | $348,363 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,029,937 |
| Pension plan accruals and contributions | $296,848 |
| Other employee benefits | $1,120,228 |
| Payroll taxes | $412,649 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,421 |
| Fees for services: Accounting | $76,868 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $281,101 |
| Advertising and promotion | $323,794 |
| Office expenses | $380,741 |
| Information technology | $225,414 |
| Royalties | $0 |
| Occupancy | $5,481,820 |
| Travel | $6,059 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,155 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,709,103 |
| Insurance | $92,724 |
| All other expenses | $40,687 |
| Total functional expenses | $19,092,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,808,149 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,245,382 |
| 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 | $796,938 |
| Net Land, buildings, and equipment | $13,301,198 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,495,150 |
| Total assets | $43,646,817 |
| Accounts payable and accrued expenses | $11,231,722 |
| Grants payable | $0 |
| Deferred revenue | $2,830,791 |
| 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 | $6,805,191 |
| Total liabilities | $20,867,704 |
| Net assets without donor restrictions | $22,779,113 |
| 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 | $43,646,817 |
Grants Awarded
Over the last fiscal year, Lab Central Inc has awarded $185,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: GRANT | $40,000 |
Boston, MA PURPOSE: GRANT | $40,000 |
Cambridge, MA PURPOSE: GRANT | $40,000 |
Cambridge, MA PURPOSE: GRANT | $15,000 |
Gloucester, MA PURPOSE: GRANT | $15,000 |
Cambridge, MA PURPOSE: GRANT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lab Central Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lab Central Inc Cambridge, MA | $43,646,817 | $21,795,021 |
American Council Of Engineering Companies Of New York Inc Albany, NY | $2,215,445 | $2,540,731 |
Mansfield Bio-Incubator Inc Mansfield, MA | $4,316,078 | $3,352,003 |
Jonathan F Reichert Foundation Inc Buffalo, NY | $2,784,945 | $134,464 |
Medilytix Inc Lincoln, MA | $485 | $0 |