Lab Central Inc

Analysis

Lab Central Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 2023, Lab Central Inc reported income of $24.5m and spending of $24.9m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $26.0m to $24.5m (-5.6%), an average of -1.4% a year. The sharpest change came in the year to December 2020, when income dropped by 21%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lab Central Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include American Journalism Project Inc ($24.4m), The Phoenix Theatre Company ($24.6m) and Connecticut Humanities Council ($24.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $525k (2.1% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $109.0m against liabilities of $84.9m, net assets of $24.2m. It reported 110 employees.