Life Changing Labs Foundation
- Assets
- $34.5k
- Revenue
- $60.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- 07/2016
- Data as of
- 12/2021
- 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 12/2021, Life Changing Labs Foundation generated $60.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $26.3k during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 5 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Larkin Board Member | 0.5 | $0 | |
Pam Silverstein Board Member | 1 | $0 | |
Timothy Zhu Board Member | 0.5 | $0 | |
Jong Won Kim Chairman | 2 | $0 | |
Michael Raspuzzi President | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $57,757 |
| 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 | $2,368 |
| Total Revenue | $60,125 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,120 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $16,585 |
| Total operating and administrative expenses | $22,353 |
| Contributions, gifts, grants paid | $3,900 |
| Total expenses and disbursements | $26,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,461 |
| 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 | $34,461 |
| 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 $3,900 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LIVE AFTER LIFE PURPOSE: COMPETITION PRIZE | $1,500 |
YAYNAY LLC PURPOSE: COMPETITION PRIZE | $1,250 |
PROGENIC GENOMICS PURPOSE: COMPETITION PRIZE | $1,000 |
SARAH BRICE PURPOSE: COMPETITION PRIZE | $150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Learning Lamp Inc Johnstown, PA | $5,123,554 | $8,804,669 |
West Chester University Student Services Inc West Chester, PA | $13,094,103 | $8,544,648 |
Student Association Inc California, PA | $24,020,549 | $6,805,716 |
Student Cooperative Association Inc Indiana, PA | $29,525,625 | $9,645,452 |
Albert Einstein College Of Medicine Staff Housing Company Inc Bronx, NY | $37,908,103 | $6,828,997 |
The Possible Project Inc Boston, MA | $20,628,656 | $12,891,174 |
Bernard M Baruch College Auxiliary Enterprises Corporation New York, NY | $2,835,381 | $7,073,623 |
The Boston Education Development Foundation Inc Roxbury, MA | $14,159,042 | $7,338,660 |
Shippensburg University Student Services Inc Shippensburg, PA | $2,959,085 | $3,291,326 |
University At Buffalo Student Association Inc Buffalo, NY | $6,243,803 | $4,544,119 |
Handz-On Inc Hartford, CT | $1,667,828 | $5,148,389 |
Empirical Resolution Inc New York, NY | $7,350,506 | $4,345,659 |