Worldwide Lab Improvement
- Assets
- $943.0k
- Revenue
- -$111.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Schoolcraft, MI
- Founding
- 07/1995
- Data as of
- 12/2023
- EIN
- 38-3211303
Organization Overview
Worldwide Lab Improvement is located in Schoolcraft, MI. The organization was established in 1995. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Worldwide Lab Improvement is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT LABORATORIES IN MISSION HOSPITALS AND CLINICS IN DEVELOPING COUNTRIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE SERVED MISSIONS IN VARIOUS COUNTRIES INCLUDING ON-SITE VISITS TO INSTALL EQUIPMENT, TRAIN, AND CONSULT. THESE SERVICES PROVIDED MEDICAL DIAGNOSTIC CAPABILITY WHICH WAS EITHER PREVIOUSLY UNAVAILABLE OR NECESSITATED SENDING THE PATIENT OR SPECIMEN TO ANOTHER LAB, OFTEN A LONG DISTANCE FROM THE MISSION HOSPITAL OR CLINIC. WE ALSO PROVIDED HOSPITAL INFORMATION SOFTWARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin Bos President & | OfficerTrustee | $0 | |
Carol Bos VP & Secreta | OfficerTrustee | 30 | $50,499 |
James Penzotti Director | Trustee | $0 | |
William Walker MD Director | Trustee | $0 | |
Nancy Berends Director | Trustee | $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 | $49,303 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,303 |
| Total Program Service Revenue | $0 |
| Investment income | $22,540 |
| 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 | -$183,241 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$111,398 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,499 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,863 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $235 |
| Office expenses | $6,675 |
| Information technology | $1,000 |
| Royalties | $0 |
| Occupancy | $37,327 |
| Travel | $538 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,160 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $946 |
| Insurance | $1,433 |
| All other expenses | $0 |
| Total functional expenses | $126,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $119,020 |
| Savings and temporary cash investments | $729,331 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,834 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $54,227 |
| Prepaid expenses and deferred charges | $5,652 |
| Net Land, buildings, and equipment | $1,970 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $943,034 |
| Accounts payable and accrued expenses | $23,684 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,193 |
| Total liabilities | $34,877 |
| Net assets without donor restrictions | $906,020 |
| Net assets with donor restrictions | $2,137 |
| 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 | $943,034 |