Life And Building Safety Coalition Inc
- Assets
- $453.0k
- Revenue
- $713.2k
- Investments
- $0.0
- Employees
- 0
- Location
- High Point, NC
- Founding
- Data as of
- 12/2021
- EIN
- 83-3642372
Organization Overview
Life And Building Safety Coalition Inc is located in High Point, NC. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life And Building Safety Coalition Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Life And Building Safety Coalition Inc generated $713.2k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 22.9% each year . All expenses for the organization totaled $485.6k during the year ending 12/2021. 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
LABS IS ORGANIZED AND OPERATED TO SERVE AS A BUSINESS LEAGUE PROMOTING THE COMMON BUSINESS INTERESTS OF ITS MEMBERS BY IMPROVING THE SAFETY OF THE READY-MADE APPAREL AND FOOTWEAR SUPPLY CHAIN FROM WHICH LABS' MEMBERS SOURCES GOODS FOR SALE. LABS' PRIMARY ACTIVITY IS PARTICIPATION IN THE LABS PROGRAM, WHICH IS EXECUTED BY THE STICHTING LIFE AND BUILDING SAFETY INITIATIVE (FOUNDATION), A NETHERLANDS STICHTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE AND BUILDING SAFETY COALITION HELPS FUND THE NETHERLAND'S LIFE AND BUILDING SAFETY PROGRAM BY INVOICING PARTICIPANT AND FACTORY FEES TO US BRANDS AND RETAILERS IN THE READY-MADE APPAREL AND FOOTWEAR SUPPLY CHAIN. LABS THEN GRANTS THESE FUNDS TO STICHTING LIFE AND BUILDING SAFETY IN THE NETHERLANDS, ENABLING THEM TO PARTICIPATE IN THIS INDUSTRY-DRIVEN PROGRAM IN WHICH MULTIPLE BRANDS AND RETAILERS JOIN FORCES TO ADDRESS BUILDING SAFETY ISSUES AND TO MITIGATE PREVENTABLE FIRE, ELECTRICAL AND STRUCTURAL SAFETY RISKS IN KEY APPAREL AND FOOTWEAR MANUFACTURERS IN THEIR SUPPLY CHAIN AND OPERATIONS, WITHIN THE NETHERLANDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marco Reyes President | OfficerTrustee | 1 | $0 |
Peter Higgins Treasurer | OfficerTrustee | 1 | $0 |
Beth Cieslik Secretary | OfficerTrustee | 1 | $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 | $713,173 |
| 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 | $713,173 |
| 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 | $477,439 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $482 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $228 |
| Total functional expenses | $485,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $452,958 |
| 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 | $452,958 |
| 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 | $452,958 |
| 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 | $452,958 |
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