Overview
What is Lab Launch Inc?
Lab Launch Inc is a nonprofit organization situated in Monrovia, California, dedicated to assisting Los Angeles' scientists and entrepreneurs. Their mission involves providing affordable, top-notch lab facilities for co-working, enabling researchers and innovators to develop their ideas. Alongside the lab space, they offer additional services such as business administration support and consulting, aiming to boost the success of emerging biotechnology companies. In essence, Lab Launch Inc serves as a hub for scientific innovation and business growth in the Los Angeles area.
Official website here: www.lablaunch.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 61%, Two-Star out of Four Star rating. This rating reflects a moderate level of accountability and financial health, indicating that while Lab Launch Inc demonstrates some strengths, there are several areas for improvement.
One of the organization's strengths is its governance structure, as it has a fully independent board and no material diversion of assets, both scoring full points in these categories. Additionally, the charity has a commendable program expense ratio of 80.58%, suggesting that a significant portion of its funds is directed towards its programs rather than administrative costs.
However, the organization faces notable weaknesses, particularly in its lack of essential policies such as conflict of interest and whistleblower policies, which received no points. Furthermore, its liabilities to assets ratio is concerning at 152.47%, indicating that liabilities exceed assets significantly. These factors contribute to the overall Two-Star rating, suggesting room for improvement in governance and financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Lab Launch Inc legitimate?
Lab Launch Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lab Launch Inc submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Official website here: www.lablaunch.org
What is the mission statement of Lab Launch Inc?
Lab Launch Inc's mission is to facilitate the growth of Los Angeles' scientific community and entrepreneurs by providing them with affordable and high-quality co-working laboratory and office spaces. The organization also offers additional support services such as business administration and consulting, aiming to boost the success of biotechnology companies. By doing so, Lab Launch Inc contributes to the advancement of scientific research and innovation. It serves as a hub where ideas can be developed and brought to life, fostering a collaborative environment for the scientific community.
Official website here: www.lablaunch.org
Who is the CEO of Lab Launch Inc?
Marie Rippen is the Ceo of Lab Launch Inc. The CEO's salary of Lab Launch Inc is $0 and their total compensation is $0.
Official website here: www.lablaunch.org
What is the revenue of Lab Launch Inc?
Lab Launch Inc's revenue in 2022 was $36,193.
Official website here: www.lablaunch.org
Who are the executives of Lab Launch Inc and what are their salaries?
Here are 4 key members and their salaries (Lab Launch Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lablaunch.org
Where can I find the form 990EZ for Lab Launch Inc?
Lab Launch Inc's most recent form 990EZ was submitted in 2022 and can be accessed here.
Official website here: www.lablaunch.org
Learn more at the official website: www.lablaunch.org
Mission Statement of Lab Launch Inc
Lab Launch Inc, a notable entity, is dedicated to empowering Los Angeles' scientific innovators and entrepreneurs. Its mission revolves around providing these individuals with affordable and high-quality lab facilities through a co-working setup. Beyond offering physical spaces, Lab Launch Inc extends its support by providing business administration and consulting services. These additional offerings are designed to propel the success of biotechnology companies. By doing so, Lab Launch Inc plays a pivotal role in fostering the growth and development of the scientific community in Los Angeles.
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Impact
August, 2024
Lab Launch Inc's impact is evident in the support it provides to Los Angeles scientists and entrepreneurs in developing their ideas through access to affordable, high-quality lab facilities. By offering co-working research laboratory and office space, as well as additional services like business administration and consulting support, Lab Launch accelerates the success of biotechnology companies. This not only fosters innovation and growth within the biotech sector but also plays a vital role in driving employment opportunities in the region.
This information is meant to be a general summary of Lab Launch Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $58,545
Assets and Liabilities:
- Total Assets: $7,331
- Total Liabilities: $48,483
- Net Assets: -$41,152
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Organization Details
Phone
(626) 408-2203Principal Officer
Marie Rippen
Main Address
605 E HUNTINGTON DR 103, MONROVIA, CA, 91016
Website
www.lablaunch.orgNTEE Category
Code: J99 - Employment
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