Overview
What is University Lab Partners?
University Lab Partners is a nonprofit organization situated in Irvine, California. The primary objective of this organization is to stimulate the growth of the biomedical industry by offering an open innovation platform. This platform provides affordable lab and office space, crucial technological resources, and a network of strategic partnerships. By doing so, University Lab Partners aims to foster economic development and job creation in Orange County, California. The organization also incorporates workforce development and training opportunities to further support its mission. With a team of 17 dedicated individuals, University Lab Partners plays a significant role in propelling advancements in the biomedical sector.
Official website here: www.universitylabpartners.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 83% (Three-Star out of Four Star rating)
University Lab Partners has been awarded an 83% rating by Charity Navigator, which reflects a generally positive assessment of its operations and financial management. The organization excels in accountability and finance, with a strong score of 74%. Notably, it has achieved a perfect score in accountability measures such as independent board membership and financial oversight, although it does have a minor issue with document retention policies.
The nonprofit demonstrates exceptional performance in its cultural and community engagement practices, scoring a perfect 100%. This includes outstanding feedback collection and usage, indicating a proactive approach to stakeholder engagement and program improvement. Additionally, the leadership and adaptability score is also perfect, suggesting that the organization has robust strategic planning and execution capabilities.
Despite the overall positive rating, there are some areas for improvement, particularly in its liabilities to assets ratio, which received no points. This could indicate potential financial risks that may need to be addressed for long-term sustainability. Overall, University Lab Partners showcases a strong commitment to accountability and community engagement while also having some financial management challenges to consider.
This AI summary has been generated from information found on Charity Navigator.
Is University Lab Partners legitimate?
University Lab Partners is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Lab Partners 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: $325,431
Professional Fundraising Fees: $38,873
Other Salaries and Wages: $312,528
For more financial information, click here
Official website here: www.universitylabpartners.org
What is the mission statement of University Lab Partners?
University Lab Partners aims to stimulate economic growth and job creation by merging a cutting-edge life science co-working space with workforce development and training opportunities. This organization empowers the growth of the biomedical industry through an open innovation platform, offering affordable lab and office space, valuable technical resources, and a network of strategic partnerships. The ultimate goal is to foster a dynamic ecosystem that supports the development of innovative life science companies and prepares a skilled workforce to meet industry demands.
Official website here: www.universitylabpartners.org
Who is the CEO of University Lab Partners?
Kenneth L Beall is the Cfo/Treasurer of University Lab Partners. The CEO's salary of University Lab Partners is $0 and their total compensation is $0.
Official website here: www.universitylabpartners.org
What is the revenue of University Lab Partners?
University Lab Partners's revenue in 2022 was $4,846,235.
Official website here: www.universitylabpartners.org
Who are the executives of University Lab Partners and what are their salaries?
The average compensation at University Lab Partners during 2022 was $37,527. There are 17 employees and 5 volunteers at University Lab Partners.
Here are 7 key members and their salaries (University Lab Partners's CEO's salary is $0 and their total compensation is $0):
- Compensation: $100,860
- 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: $197,846
- Related: $0
- Other: $26,725
- Compensation: $118,654
- Related: $0
- Other: $19,182
Official website here: www.universitylabpartners.org
Where can I find the form 990 for University Lab Partners?
University Lab Partners's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.universitylabpartners.org
Learn more at the official website: www.universitylabpartners.org
Mission Statement of University Lab Partners
University Lab Partners, abbreviated as ULP, is dedicated to fostering economic growth and job creation in the field of life sciences in an unspecified location. They achieve this by integrating a cutting-edge co-working space for life science businesses with comprehensive workforce development and training opportunities. By providing a platform for open innovation, ULP offers affordable lab and office space, essential technical resources, and a network of strategic partnerships. This approach accelerates the growth of the biomedical industry, ultimately contributing to the overall development of the economy.
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Impact
July, 2024
University Lab Partners plays a crucial role in driving economic development and job creation in Orange County, California. By offering a state-of-the-art life science co-working environment combined with workforce development and training opportunities, ULP accelerates the growth of the biomedical industry in the region. Through an open innovation platform, ULP provides affordable lab and office space, essential technical resources, and access to a network of strategic partnerships, thereby fostering innovation and collaboration within the life science sector. This impactful approach not only supports the expansion of the biomedical industry but also contributes to the overall economic prosperity of Orange County.
This information is meant to be a general summary of University Lab Partners. 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: $4,581,288
- Gross Receipts: $4,846,235
Assets and Liabilities:
- Total Assets: $8,713,268
- Total Liabilities: $6,071,184
- Net Assets: $2,642,084
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAB REVENUE
Revenue
$3,304,297
RADX PROGRAM REVENUE
Revenue
$1,131,171
WORKFORCE DEVELOPMENT
Revenue
$145,820
Organization Details
Founding Year
2019
Phone
(949) 732-4290Principal Officer
Kenneth L Beall
Main Address
5270 CALIFORNIA AVENUE SUITE 300, IRVINE, CA, 92617
NTEE Category
Code: E60 - Health
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