Charlotte Lab School Inc
- Assets
- $2.5m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 124
- Location
- Charlotte, NC
- Founding
- 12/2014
- Data as of
- 06/2021
- 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 06/2021, Charlotte Lab School Inc employed 124 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 06/2021, Charlotte Lab School Inc generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $9.3m during the year ending 06/2021. While expenses have increased by 19.7% 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
2021
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 820 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Mary Moss Executive Di | Officer | 40 | $106,955 |
Tom Murray Board Chair | OfficerTrustee | 2 | $0 |
Rashidah Lopez-Morgan Vice Chair | OfficerTrustee | 2 | $0 |
Nicole Mottershead Treasurer | OfficerTrustee | 2 | $0 |
Brett Blumenthal Director | Trustee | 1 | $0 |
Edgardo Martinez Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tp Triangle Construction Llc | 6/29/18 | $126,668 |
Ninth Street Investors Llc Rent | 6/29/18 | $403,714 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,297,284 |
| Investment income | $1,044 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,959 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,342,978 |
| Statement of Expenses | |
|---|---|
| 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. | $519,987 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,801,381 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $471,421 |
| Payroll taxes | $424,958 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,034 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $759,528 |
| Advertising and promotion | $18,976 |
| Office expenses | $66,423 |
| Information technology | $176,644 |
| Royalties | $0 |
| Occupancy | $1,407,565 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,398 |
| Interest | $26,696 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,439 |
| Insurance | $21,010 |
| All other expenses | $0 |
| Total functional expenses | $9,339,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $486,309 |
| Savings and temporary cash investments | $62,053 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $280,105 |
| 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 | $5,714 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $82,132 |
| Total assets | $2,473,798 |
| Accounts payable and accrued expenses | $97,671 |
| 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 | $993,231 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,306,173 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,167,625 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Charlotte Lab School Inc has recieved totaling $120,212.
| Awarding Organization | Amount |
|---|---|
New Schools Fund Oakland, CA PURPOSE: INNOVATIVE SCHOOLS | $95,000 |
Motorsports Charities Inc Daytona Beach, FL PURPOSE: PROGRAM SUPPORT | $15,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,246 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $2,422 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $894 |
Lpl Financial Foundation Inc Boston, MA PURPOSE: OPERATIONAL SUPPORT | $500 |
Endowment Analysis
| Earnings | $2,080 |
| Admin Expense | $500 |
| Net Contributions | $25,000 |
| Ending Balance | $27,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Heathwood Hall Episcopal School Columbia, SC | $39,181,921 | $20,445,816 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Greenville Renewable Energy Education Charter School Greenville, SC | $26,163,515 | $17,750,984 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
St Francis Day School Inc Roswell, GA | $35,555,718 | $15,564,442 |