Labfour Career Training Institute

Analysis

Labfour Career Training Institute is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Labfour Career Training Institute reported income of $2.7m and spending of $3.4m, spending 124% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $296k to $2.7m (+816%), an average of +109% a year. The sharpest change came in the year to December 2020, when income rose by 1494%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Labfour Career Training Institute sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include Massanetta Springs Inc ($2.7m), Hoboken Business Alliance Inc ($2.7m) and Junior League of Austin ($2.7m).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $563k (17% of expenses). Other salaries and wages came to $645k. At year end it held assets of $2.3m against liabilities of $170k, net assets of $2.1m. It reported 22 employees.