Fab Lab Tulsa Inc
- Assets
- $4.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Tulsa, OK
- Founding
- 09/2011
- Data as of
- 12/2022
- EIN
- 30-0638130
Organization Overview
Fab Lab Tulsa Inc is located in Tulsa, OK. The organization was established in 2011. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Fab Lab Tulsa Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fab Lab Tulsa Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Fab Lab Tulsa Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $670.0k during the year ending 12/2022. While expenses have increased by 4.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FAB LAB TULSA DELIVERS EDUCATION, COMMUNITY, WORKFORCE, AND BUSINESS PROGRAMMING THAT TEACHES INNOVATION, DESIGN-THINKING, PROBLEM-SOLVING AND CHANGE-MAKING. IN ADDITION, THE LAB PROVIDES OPEN COMMUNITY ACCESS TO ADVANCED MANUFACTURING AND DIGITAL FABRICATION TOOLS, EQUIPMENT, TECHNOLOGY, AND RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: THE K-20 EDUCATION PROGRAM AT FAB LAB TULSA ENABLES EDUCATORS TO INTRODUCE AND ILLUSTRATE A VARIETY OF ENGINEERING DISCIPLINES, INCLUDING MECHANICAL, ELECTRICAL, CHEMICAL, AND STRUCTURAL ENGINEERING, AS WELL AS COMPUTER SCIENCE, MATH, AND ART. ADDITIONALLY, STUDENTS LEARN HOW TO ENVISION, DESIGN, BUILD, TEST AND REFINE THEIR IDEAS THROUGH HANDS-ON EXPERIENCE WITH 2D AND 3D DESIGN SOFTWAREAND DIGITAL FABRICATION TOOLS. WHEN USING TECHNOLOGY IN EDUCATION, THE KEY IS TO ENHANCE THE CONCEPTS BEING TAUGHT. EDUCATIONAL PROGRAMS AT FAB LAB TULSA FOCUS ON BUILDING SKILLS IN CORE SUBJECTS, SUCH AS MATH AND SCIENCE, AS WELL AS APPLIED PROBLEM-SOLVING, CRITICAL THINKING AND CREATIVITY, ALL OF WHICH ARE CRITICALLY IMPORTANT IN THE MODERN ECONOMY.
WORKFORCE: MANUFACTURING IS UNDERGOING A DIGITAL TRANSFORMATION THAT IS CHANGING THE FUTURE OF WORK WITH SMART MANUFACTURING THAT RELIES ON HIGH-TECH SYSTEMS. THE WORKFORCE PROGRAM AT FAB LAB TULSA TEACHES DESIGN THINKING AND DIGITAL FABRICATION SKILLS TARGETED AT RECENT HIGH SCHOOL GRADUATES WHO ARE NOT HEADED TO COLLEGE AND ADULTS SEEKING TO RESKILL AND UPSKILL TO MEET THE RAPIDLY CHANGING ENVIRONMENT OF INDUSTRIAL DIGITALIZATION. THE PROGRAM COVERS THE TOPICS OF 3D PRINTING, PRECISION LASER CUTTING, CNC MILLING AND ELECTRONICS, WITH HANDS-ON LEARNING UTILIZING A PROJECT-BASED APPROACH WHERE STUDENTS DOCUMENT THEIR WORK AND BUILD A DIGITAL ONLINE RESUME AND PORTFOLIO TO SHARE WITH FUTURE EMPLOYERS.
BUSINESS: FAB LAB TULSA IS A HUB FOR INVENTORS AND PROVIDES ENTREPRENEURS AND BUSINESSES WITH A HIGH-QUALITY, LOW-COST, LOW-RISK METHOD OF RAPID PROTOTYPING AND MICRO-MANUFACTURING NEW PRODUCTS. THE OBJECTIVE IS TO FOSTER ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT, AS WELL AS ENCOURAGE START-UP COMPANIES TO GROW BOTH WITHIN AND BEYOND THE LAB. BUSINESS AND INDUSTRY MEMBERS RECEIVE EXTENSIVE TECHNICAL ASSISTANCE IN USING LAB EQUIPMENT AND SOFTWARE DESIGN APPLICATIONS, AS WELL AS ACCESS TO PROGRAMS THAT SUPPORT THEIR LEGAL AND INTELLECTUAL PROPERTY NEEDS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Pritchett Executive Dir. | Trustee | 40 | $66,283 |
Justin Heinecke President | OfficerTrustee | 5 | $0 |
Wyn Dee Baker Vice President | OfficerTrustee | 5 | $0 |
Kirk Vanderslice Treasurer | OfficerTrustee | 5 | $0 |
Diama Norris Secretary | OfficerTrustee | 5 | $0 |
Vincent Carson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $245,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $675,930 |
| Noncash contributions included in lines 1a–1f | $15,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $920,930 |
| Total Program Service Revenue | $156,403 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $27,833 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,112,104 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,387 |
| Compensation of current officers, directors, key employees. | $8,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $243,280 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,104 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,500 |
| Advertising and promotion | $1,906 |
| Office expenses | $12,083 |
| Information technology | $44,141 |
| Royalties | $0 |
| Occupancy | $117,358 |
| Travel | $6,907 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $130 |
| Interest | $30,814 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,124 |
| Insurance | $29,108 |
| All other expenses | $5,188 |
| Total functional expenses | $669,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $186,268 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $271,671 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,315,200 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,499 |
| Net Land, buildings, and equipment | $20,352 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,805,990 |
| Accounts payable and accrued expenses | $12,005 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $259,256 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $271,261 |
| Net assets without donor restrictions | $4,493,062 |
| Net assets with donor restrictions | $41,667 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,805,990 |