Lab School of Memphis Inc

Analysis

Lab School of Memphis Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Lab School of Memphis Inc reported income of $336k and spending of $431k, spending 128% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $356k to $336k (-5.6%), an average of -5.6% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lab School of Memphis Inc sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 65th percentile within TN. Charities of a similar size with the same main cause include Golden Star Educational Services ($336k), Seeds of Faith Preschool ($336k) and Long Island School of Chinese Inc ($336k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $217k (50% of expenses). At year end it held assets of $94k against liabilities of $107k, net assets of -$13k. It reported 12 employees.