Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
84 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990; $1.6M paid to officers and key staff.
Margaret O'Toole’s $346K as Chief Operating Officer is at the 36th percentile of top reported officer pay among 139 $10–100M science & technology nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Margaret E O'Toole | — | $366,951 | $350,544 | $342,095 | $325,306 |
| Margaret O'Toole | $346,244 | — | — | — | — |
| Johannes Fruehauf MD PHD | — | $342,464 | $331,505 | $321,907 | $299,264 |
| Mike Larhette | $311,552 | $327,021 | $316,746 | $259,897 | — |
| Johannes Fruehauf | $323,341 | — | — | — | — |
| Gretchen Cook-Anderson | — | $312,690 | $254,901 | — | — |
| Peter Shanley | $128,873 | $161,466 | $269,119 | $288,857 | $85,361 |
| Celina C Chang | — | $265,221 | $256,554 | $250,466 | $228,712 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Supports biotech startups by providing a lab and entrepreneurial environment.
Questions for Lab Central INC
Your first name shows with your question. Lab Central INC answers here, for everyone.
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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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $10.6M | $4.3M |
| Land, buildings, equipmentLn 10c | $12.7M | $13.9M |
| Total assetsLn 16 | $30.8M | $31.4M |
| LiabilitiesLn 26 | $13.5M | $11.8M |
| Net assetsLn 32 | $17.3M | $19.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $185K | $185K | ||
| Pay of current officers, directors and key staffLn 5 | $753K | $462K | $292K | |
| Other salaries and wagesLn 7 | $2.8M | $1.7M | $1.1M | |
| Pension plan contributionsLn 8 | $266K | $182K | $84K | |
| Other employee benefitsLn 9 | $945K | $647K | $298K | |
| Payroll taxesLn 10 | $341K | $254K | $87K | |
| Legal feesLn 11b | $39K | $13K | $26K | |
| Accounting feesLn 11c | $85K | $29K | $56K | |
| Other fees for servicesLn 11g | $411K | $140K | $271K | |
| Advertising and promotionLn 12 | $60K | $18K | $41K | |
| Office expensesLn 13 | $340K | $309K | $31K | |
| Information technologyLn 14 | $168K | $161K | $6K | |
| OccupancyLn 16 | $6.8M | $6.4M | $328K | |
| TravelLn 17 | $2K | $2K | ||
| Conferences, conventions and meetingsLn 19 | $10K | $3K | $7K | |
| InterestLn 20 | $5K | $5K | ||
| Depreciation, depletion and amortizationLn 22 | $2.3M | $2.2M | $114K | |
| InsuranceLn 23 | $41K | $41K | ||
| Other expenses (24a–d)Ln 24 | $2.6M | $2.6M | $62K | |
| All other expensesLn 24e | $49K | $49K | ||
| Total functional expensesLn 25 | $18.2M | $15.4M | $2.8M | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $27.3M | $24.5M | $2.8M | $27.5M | 990 PDF |
| FY2023 | $24.5M | $24.9M | −$376K | $24.2M | 990 PDF |
| FY2022 | $22.6M | $21.7M | $977K | $24.1M | 990 PDF |
| FY2021 | $21.8M | $19.1M | $2.7M | $22.8M | 990 PDF |
| FY2020 Viewing | $20.4M | $18.2M | $2.2M | $19.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $20,436,198 revenue, 12 lines filed
Part VI · Governance 3 of 5 board members independent, 1 to look at
Part VIII · Statement of revenue $20,436,198 across 7 lines filed
Part IX · Statement of functional expenses $18,194,883 across 20 lines filed
Part X · Balance sheet $31,440,783 assets, 13 lines filed
Part XI · Reconciliation of net assets $19,619,011 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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