Life Changing Labs Foundation
- Assets
- $26.1k
- Revenue
- $50.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 47-5673329
Organization Overview
Life Changing Labs Foundation is located in Ithaca, NY. The organization was established in 2016. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Changing Labs Foundation 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 12/2022, Life Changing Labs Foundation generated $50.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $59.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Silverstein Board Member | 1 | $0 | |
Jong Won Kim Chairman | 2 | $0 | |
Sang Won Yoon Board Member | 0.5 | $0 | |
Hai Jung Kim President | 0.5 | $0 | |
David Johnson Treasurer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,696 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $96 |
| Total Revenue | $50,792 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $830 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50,589 |
| Total operating and administrative expenses | $54,169 |
| Contributions, gifts, grants paid | $5,022 |
| Total expenses and disbursements | $59,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,062 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $26,062 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $657 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $657 |
Grants Awarded
Over the last fiscal year, Life Changing Labs Foundation has awarded $5,022 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
PHILLIP JUNG PARK PURPOSE: COMPETITION PRIZE | $500 |
KAR POH CHENG PURPOSE: COMPETITION PRIZE | $1,500 |
DARIO ANAYA PURPOSE: COMPETITION PRIZE | $2,022 |
HEYU SUN PURPOSE: COMPETITION PRIZE | $1,000 |