Five One Labs Inc

Analysis

Five One Labs Inc is a registered charity in United States, based in Salem, NH. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover community improvement and capacity building, 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 June 2023, Five One Labs Inc reported income of $1.3m and spending of $1.3m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $689k to $1.3m (+86%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 59%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Five One Labs Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within NH. Charities of a similar size with the same main cause include Georgia Sheet Metal Joint Apprenticeship Committee ($1.3m), Association for Manufacturing Excellence Ame ($1.3m) and Greater Washington DC Black Chambers ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $127k (9.6% of expenses). Other salaries and wages came to $703k. At year end it held assets of $332k against liabilities of $16k, net assets of $316k. It reported 4 employees.