Lab Central Inc
- Assets
- $109.0m
- Revenue
- $24.5m
- Investments
- $0.0
- Employees
- 110
- Location
- Cambridge, MA
- Founding
- 06/2014
- Data as of
- 12/2023
- EIN
- 46-1031913
Organization Overview
Lab Central Inc is located in Cambridge, MA. The organization was established in 2014. According to its NTEE Classification (U02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Science & Technology and related organizations. As of 12/2023, Lab Central Inc employed 110 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lab Central 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 12/2023, Lab Central Inc generated $24.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $24.9m during the year ending 12/2023. While expenses have increased by 13.6% per year over the past 9 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.
Since 2020, Lab Central Inc has awarded 22 individual grants totaling $325,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LAB CENTRAL SUPPORTS CREATION OF INNOVATIVE STARTUP BIOTECHNOLOGY COMPANIES BY PROVIDING A WORLD-CLASS ENVIRONMENT FOR ENTREPRENEURS, AND A FULLY FUNCTIONAL LIFE SCIENCES LABORATORY WITHIN THE KENDALL SQUARE INNOVATION HUB.
Describe the Organization's Program Activity:
HELP CREATE THE NEXT GENERATION OF BIOTECH COMPANIES BY PROVIDING ENTREPRENEURS AND INNOVATIVE LIFE SCIENCES STARTUPS WITH THE SPACE AND RESOURCES NEEDED TO TEST OUT, CHALLENGE, AND NURTURE EARLY IDEAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jo Viney Director | Trustee | 1 | $0 |
Susan Windham-Bannister Director | Trustee | 1 | $20,000 |
Steven Tregay PHD Chariman | OfficerTrustee | 1 | $0 |
John Harthorne Director | Trustee | 1 | $0 |
Johannes Fruehauf MD PHD President | OfficerTrustee | 26 | $342,464 |
Peter D Parker Secretary/director | OfficerTrustee | 3 | $782 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sg Computers Inc It Services | 12/30/23 | $733,775 |
Emcor Services Northeast Inc Hvac Services | 12/30/23 | $444,316 |
Ug2 Janitorial Services | 12/30/23 | $266,335 |
Triumvirate Environmental Ehs Services | 12/30/23 | $204,742 |
Barricade Cyber Solutions It Services | 12/30/23 | $208,403 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $115,766 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,038,654 |
| Noncash contributions included in lines 1a–1f | $1,862,019 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,154,420 |
| Total Program Service Revenue | $16,661,431 |
| Investment income | $565,201 |
| 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 | $24,500,358 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $113,419 |
| 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. | $524,712 |
| Compensation of current officers, directors, key employees. | $151,248 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,161,083 |
| Pension plan accruals and contributions | $519,681 |
| Other employee benefits | $2,025,106 |
| Payroll taxes | $708,145 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100,995 |
| Fees for services: Accounting | $44,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $243,388 |
| Advertising and promotion | $549,905 |
| Office expenses | $612,568 |
| Information technology | $669,600 |
| Royalties | $0 |
| Occupancy | $4,505,690 |
| Travel | $16,940 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $342,297 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,438,899 |
| Insurance | $273,574 |
| All other expenses | $170,486 |
| Total functional expenses | $24,876,840 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,920,077 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,434,899 |
| 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 | $875,632 |
| Net Land, buildings, and equipment | $10,929,233 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $69,881,798 |
| Total assets | $109,041,639 |
| Accounts payable and accrued expenses | $1,444,640 |
| Grants payable | $0 |
| Deferred revenue | $3,970,442 |
| 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 | $79,458,584 |
| Total liabilities | $84,873,666 |
| Net assets without donor restrictions | $24,167,973 |
| 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 | $109,041,639 |
Grants Awarded
Over the last fiscal year, Lab Central Inc has awarded $80,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
PROTEINEA PURPOSE: GRANT | $10,000 |
VIOLET THERAPEUTICS PURPOSE: GRANT | $10,000 |
CELLFORMA PURPOSE: GRANT | $10,000 |
NEUROBIONICS PURPOSE: GRANT | $10,000 |
HOVANA INC PURPOSE: GRANT | $10,000 |
HDAX THERAPEUTICS PURPOSE: GRANT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lab Central Inc Cambridge, MA | $109,041,639 | $24,500,358 |
American Council Of Engineering Companies Of New York Inc Albany, NY | $2,215,445 | $2,540,731 |
Mansfield Bio-Incubator Inc Mansfield, MA | $7,697,761 | $1,865,495 |
Jonathan F Reichert Foundation Inc Buffalo, NY | $2,620,771 | $54,848 |
Medilytix Inc Lincoln, MA | $18,211 | $41,120 |
Tech For Every Child Inc Ossining, NY | $0 | $0 |
Dy Foundation Inc Boston, MA | $1,000 | $1,000 |