Overview
What is Lean Rocket Lab?
Lean Rocket Lab, based in Jackson, Michigan, is a dynamic nonprofit organization dedicated to fostering innovation. It offers a collaborative workspace teeming with energetic entrepreneurs, providing them with advanced educational programs, valuable business resources, and access to various stages of capital. This supportive environment empowers businesses and products to launch and prosper. The organization's mission is to eliminate common barriers to innovation, thereby contributing to the success and growth of the entrepreneurial community. With a small team of five individuals, Lean Rocket Lab is committed to nurturing and nurturing the next generation of innovative ideas and ventures.
Official website here: www.leanrocketlab.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. Lean Rocket Lab's rating reflects its performance in accountability and finance, with a score of 73. While the organization demonstrates strengths in having a majority of independent board members and a low liabilities to assets ratio, it faces challenges in transparency and governance due to missing key policies and documentation.
The nonprofit has 77% independent board members and a solid program expense ratio of 93.53%, indicating that most of its expenses are directed towards its programs. However, significant gaps in governance practices are evident, as the organization lacks a whistleblower policy and has not made its financial statements publicly available.
In summary, Lean Rocket Lab shows potential through its strong program focus and independent oversight. Yet, to improve its standing and trustworthiness, it must address the noted deficiencies in financial transparency and governance policies.
This AI summary has been generated from information found on Charity Navigator.
Is Lean Rocket Lab legitimate?
Lean Rocket Lab is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lean Rocket Lab 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: $244,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $100,211
For more financial information, click here
Official website here: www.leanrocketlab.org
What is the mission statement of Lean Rocket Lab?
Lean Rocket Lab, an innovative hub, aims to remove common obstacles to creativity by offering a collaborative workspace filled with energetic entrepreneurs. The lab provides advanced educational programming, useful business resources, and access to various stages of capital, enabling businesses and products to launch and prosper. By fostering an environment of collaboration, Lean Rocket Lab aims to empower businesses to overcome barriers and thrive in their respective industries.
Official website here: www.leanrocketlab.org
Who is the CEO of Lean Rocket Lab?
Brandon Marken is the President/Ce of Lean Rocket Lab.
Official website here: www.leanrocketlab.org
What is the revenue of Lean Rocket Lab?
Lean Rocket Lab's revenue in 2022 was $798,315.
Official website here: www.leanrocketlab.org
Who are the executives of Lean Rocket Lab and what are their salaries?
The average compensation at Lean Rocket Lab during 2022 was $68,842. There are 5 employees at Lean Rocket Lab.
Here are 9 key members and their salaries:
- Compensation: $122,000
- Related: $0
- Other: $0
- Compensation: $122,000
- Related: $0
- Other: $0
- Compensation: $9,000
- Related: $0
- Other: $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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.leanrocketlab.org
Where can I find the form 990 for Lean Rocket Lab?
Lean Rocket Lab's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.leanrocketlab.org
Learn more at the official website: www.leanrocketlab.org
Mission Statement of Lean Rocket Lab
Lean Rocket Lab, a dynamic organization, is dedicated to breaking down the common obstacles that hinder innovation. They accomplish this by offering a collaborative workspace teeming with energetic entrepreneurs, advanced educational programs, valuable business resources, and access to various stages of capital. This environment allows businesses and products to launch and prosper. By providing this comprehensive support system, Lean Rocket Lab empowers innovators to overcome challenges and thrive in their ventures.
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Impact
July, 2024
Lean Rocket Lab's impact lies in its ability to remove common barriers to innovation by providing a collaborative workspace filled with high-energy entrepreneurs, advanced educational programming, valuable business resources, and access to various stages of capital. This creates an environment where businesses and products can launch and thrive, contributing to the growth and success of the entrepreneurial community in Jackson, MI. The organization's commitment to fostering innovation and supporting local entrepreneurs plays a vital role in driving economic development and community improvement in the region.
This information is meant to be a general summary of Lean Rocket Lab. 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.
- Program Service Revenue: $127,175
- Gross Receipts: $798,315
Assets and Liabilities:
- Total Assets: $478,350
- Total Liabilities: $111,678
- Net Assets: $366,672
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CO-WORKING MEMBERSHIPS
Revenue
$88,706
OTHER PROGRAM REVENUE
Revenue
$25,000
INCUBATOR SERVICES
Revenue
$13,469
Organization Details
Founding Year
2018
Phone
(517) 395-4151Principal Officer
Brandon Marken
Main Address
133 W MICHIGAN AVE, JACKSON, MI, 49201
Website
www.leanrocketlab.orgNTEE Category
Code: S30 - Community improvement
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