Overview
What is Lifelabkids Foundation?
Lifelabkids Foundation is a nonprofit organization situated in Ferndale, Michigan. During the recent fiscal year, they initiated the construction of an Unlimited Play Park. The organization witnessed significant growth in 2022, expanding its team by 25% and later adding a Chief Development Officer. In addition to these developments, Lifelabkids launched health literacy programs, integrating expanded fitness and feeding therapies as part of their Grow Initiative. The foundation's primary mission is to empower students of all abilities, fostering their unique potential through a combination of evidence-based interventions, therapeutic activities, and innovative technologies.
Official website here: www.lifelabkids.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (59%)
Lifelabkids Foundation has received a One-Star rating from Charity Navigator, indicating significant concerns with its accountability and financial practices. While the organization benefits from a fully independent board and has demonstrated a high program expense ratio, the overall score reflects serious deficiencies in transparency and fiscal management. The absence of financial statements and missing policies related to whistleblower protections and document retention undermine the foundation’s credibility.
The organization has shown strengths in governance with 100% of its board members being independent and maintaining proper documentation for board meeting minutes. However, the lack of publicly available financial statements raises questions about its financial health and governance practices. The high liabilities to assets ratio further suggests potential fiscal stress, which may pose risks for its operations and mission sustainability.
While Lifelabkids Foundation allocates a significant portion of its expenses towards programs, which is a positive aspect, the overall financial transparency issues may deter potential donors and stakeholders from fully supporting the organization. Addressing these governance gaps will be crucial for improving its rating and fostering greater trust within the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Lifelabkids Foundation legitimate?
Lifelabkids Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lifelabkids Foundation submitted a form 990, 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,203,376
For more financial information, click here
Official website here: www.lifelabkids.org
What is the mission statement of Lifelabkids Foundation?
The Lifelab Kids Foundation's mission is centered around assisting students of all abilities in discovering and realizing their unique potential. This is achieved through a combination of evidence-based interventions, therapeutic activities, and innovative technologies. The foundation aims to create an environment that fosters exploration and growth for all its students.
During the fiscal year ending December 31, 2022, the foundation made significant strides. They broke ground on the Unlimited Play Park, expanded their staff by 25%, and later added a Chief Development Officer to their team. In line with their mission, they also launched health literacy programming, which incorporated expanded fitness and feeding therapies as part of their Grow Initiative.
Official website here: www.lifelabkids.org
Who is the CEO of Lifelabkids Foundation?
Jai Reddy is the Trustee of Lifelabkids Foundation.
Official website here: www.lifelabkids.org
What is the revenue of Lifelabkids Foundation?
Lifelabkids Foundation's revenue in 2022 was $2,392,186.
Official website here: www.lifelabkids.org
Who are the executives of Lifelabkids Foundation and what are their salaries?
The average compensation at Lifelabkids Foundation during 2022 was $23,142. There are 52 employees at Lifelabkids Foundation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lifelabkids.org
Where can I find the form 990 for Lifelabkids Foundation?
Lifelabkids Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lifelabkids.org
Learn more at the official website: www.lifelabkids.org
Mission Statement of Lifelabkids Foundation
Lifelab Kids Foundation is committed to empowering students of all abilities to uncover and actualize their unique, authentic potential. They achieve this goal through a strategic blend of evidence-based interventions, therapeutic activities, and innovative technologies. The organization's mission aims to foster an environment that allows every student to explore their true potential, enabling them to reach their fullest potential.
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Impact
July, 2024
Lifelabkids Foundation has made a significant impact by helping students of all abilities discover and explore their unique, true potential through evidence-based interventions, therapeutic activities, and innovative technologies. In 2022, the organization broke ground on the Unlimited Play Park, expanded their staff by 25%, and added a Chief Development Officer to the team. They also launched health literacy programming around expanded fitness and feeding therapies as part of the GROW initiative. This commitment to empowering students and providing holistic support demonstrates Lifelabkids Foundation's dedication to making a tangible difference in the lives of those they serve.
This information is meant to be a general summary of Lifelabkids Foundation. 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.
- Investment Income: $1,933
- Program Service Revenue: $1,440,986
- Gross Receipts: $2,392,186
Assets and Liabilities:
- Total Assets: $3,030,161
- Total Liabilities: $1,615,432
- Net Assets: $1,414,729
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$1,440,986
Organization Details
Founding Year
2016
Phone
(248) 629-4600Principal Officer
Jai Reddy
Main Address
3178 HILTON RD, FERNDALE, MI, 48220
Website
www.lifelabkids.orgNTEE Category
Code: T50 - Philanthropy
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