Charlotte Lab School Inc
- Assets
- $2.7m
- Revenue
- $11.3m
- Investments
- $0.0
- Employees
- 161
- Location
- Charlotte, NC
- Founding
- 12/2014
- Data as of
- 06/2022
- EIN
- 47-1006252
Organization Overview
Charlotte Lab School Inc is located in Charlotte, NC. The organization was established in 2014. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Charlotte Lab School Inc employed 161 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlotte Lab School 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 06/2022, Charlotte Lab School Inc generated $11.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $11.0m during the year ending 06/2022. While expenses have increased by 22.5% 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
THE MISSION OF THE CHARLOTTE LAB SCHOOL IS TO REDESIGN THE SCHOOL EXPERIENCE TO BETTER PREPARE STUDENTS FOR SUCCESS IN COLLEGE AND CAREER, AND TO SERVE, THROUGH COMMUNITY PARTNERSHIPS, AS A MODEL FOR INNOVATIVE PRACTICES IN TEACHING AND LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A PUBLIC CHARTER SCHOOL IN CHARLOTTE NORTH CAROLINA SERVING APPROXIMATELY 975 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rashidah Lopez-Morgan Chair | OfficerTrustee | 2 | $0 |
Nicholas Triplett Vice Chair | OfficerTrustee | 2 | $0 |
Nicole Mottershead Finance Chai | OfficerTrustee | 2 | $0 |
Edgardo Martinez Director | Trustee | 1 | $0 |
Albert Kirton Director | Trustee | 1 | $0 |
Susan Mcbarnet Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ninth Street Investors Llc Rent | 6/29/18 | $403,714 |
Tp Triangle Construction Llc | 6/29/18 | $126,668 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,449,198 |
| All other contributions, gifts, grants, and similar amounts not included above | $662,238 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,111,436 |
| Total Program Service Revenue | $161,986 |
| Investment income | $1,165 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $7,954 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,288,190 |
| 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. | $212,443 |
| Compensation of current officers, directors, key employees. | $212,443 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,162,139 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $580,359 |
| Payroll taxes | $492,590 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,118 |
| Fees for services: Accounting | $8,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $946,988 |
| Advertising and promotion | $6,772 |
| Office expenses | $108,080 |
| Information technology | $120,858 |
| Royalties | $0 |
| Occupancy | $1,450,433 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,038 |
| Interest | $70,253 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $90,809 |
| Insurance | $22,449 |
| All other expenses | $100,343 |
| Total functional expenses | $10,980,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $994,333 |
| Savings and temporary cash investments | $121,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,494,426 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $82,132 |
| Total assets | $2,692,483 |
| Accounts payable and accrued expenses | $143,904 |
| Grants payable | $0 |
| Deferred revenue | $31,682 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $183,589 |
| Secured mortgages and notes payable | $857,825 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,217,000 |
| Net assets without donor restrictions | $1,475,483 |
| 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 | $2,692,483 |