Laboratory Products Association
- Assets
- $1.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 2
- Location
- White Post, VA
- Founding
- 02/1938
- Data as of
- 06/2022
- EIN
- 36-1748090
Organization Overview
Laboratory Products Association is located in White Post, VA. The organization was established in 1938. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. As of 06/2022, Laboratory Products Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laboratory Products Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Laboratory Products Association generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 1.6% per year over the past 7 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
TO PROMOTE THE PROGRESS AND DEVELOPMENT OF THE SCIENTIFIC APPARATUS MAKERS' INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LABORATORY PRODUCTS ASSOCIATION (LPA):ITS MISSION IS TO PROMOTE THE PROGRESS AND DEVELOPMENT OF ITS MEMBERS' INDUSTRIES. ITS MEMBERS CONSIST OF MANUFACTURERS AND/OR DISTRIBUTORS OF INSTRUMENTS, APPARATUS, CHEMICALS, EQUIPMENT, SUPPLIES AND RELATED ACCESSORIES INTENDED PRIMARILY FOR SCIENTIFIC LABORATORY USE. PROGRAM INCLUDES (1) ANNUAL FORECAST & ANALYSIS OF THE LAB SUPPLY MARKET; (2) LABORATORY BUSINESS WORLD NEWSLETTER; (3) MONTHLY FLASH REPORT; (4) NORTH AMERICAN SURVEY OF LABORATORY PURCHASING TRENDS; AND, (5) ANNUAL MEETINGS.
OPTICAL IMAGING ASSOCIATION (OPIA):WHOSE MEMBERSHIP CONSISTS OF MANUFACTURERS AND SUPPLIERS OF PRECISION OPTICAL INSTRUMENTS AND SYSTEMS IN AREAS SUCH AS MICROSCOPY, SURVEYING, OPHTHALMIC, REMOTE VISUAL INSPECTIONS, LASERS, ELECTRONIC IMAGING AND IMAGE ANALYSIS. OPIA MEMBERS PARTICIPATED IN THE QUARTERLY STATISTICS PROGRAM ON THE GLOBAL SALES OF VARIOUS MICROSCOPE MODELS AND PERIPHERAL COMPONENTS FOR MICROSCOPES SUCH AS CAMERAS AND SOFTWARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Mulligan President | Officer | 40 | $191,072 |
Kelly Williams Chairwoman | Trustee | 1 | $0 |
Kevin Frake Vice Chairman | Trustee | 1 | $0 |
Jim Dawson Immediate Past Chair | Trustee | 1 | $0 |
Ken Falkowitz Director | Trustee | 1 | $0 |
Michael Klipstein Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,133,825 |
| Investment income | $80,270 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,215,035 |
| 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. | $246,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $85,850 |
| Pension plan accruals and contributions | $4,031 |
| Other employee benefits | $24,787 |
| Payroll taxes | $18,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,916 |
| Fees for services: Accounting | $33,457 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,095 |
| Office expenses | $22,836 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,715 |
| Travel | $7,243 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $351,236 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $446 |
| Insurance | $3,753 |
| All other expenses | $13,108 |
| Total functional expenses | $1,135,012 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $596,801 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,871 |
| Net Land, buildings, and equipment | $772 |
| Investments—publicly traded securities | $1,137,400 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,375 |
| Total assets | $1,807,219 |
| Accounts payable and accrued expenses | $133,144 |
| Grants payable | $0 |
| Deferred revenue | $360,790 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $493,934 |
| Net assets without donor restrictions | $1,313,285 |
| Net assets with donor restrictions | $0 |
| 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 | $1,807,219 |
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|---|---|---|
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If Foundation Washington, DC | $30,380,143 | $2,916,137 |
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