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T3 Labs FY2023 filing

Tax-deductible

Atlanta, GA501(c)(3)Human Services EIN 80-0079841Revenue $9.2M in FY2023

On file with the IRSgcmiatl.com760 Spring Street Suite 324, 30332-0495 · Atlanta, GATax-exempt since Sep 2018Publicly supported — 509(a)(2)

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To provide high-value preclinical testing and training services to medical device, biologics, and pharmaceutical developers and manufacturers.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $1.2M a year · 19% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $392K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8.6M
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
Pt X · Ln 26
Independent board members
2
of 7 voting members
Worth a look: 2 of 7 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.2M
+8% vs prior year
Spent
$10.1M
To programs
72%
Net assets
$4.2M
By yearFY2021–FY2025
Revenue
$9.2M
FY2023▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2021$6.4M
FY2022$8.6M
FY2023$9.2M
FY2024$7.1M
FY2025$75K
Expenses
$10.1M
FY2023▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2021$7.5M
FY2022$8.5M
FY2023$10.1M
FY2024$11.3M
FY2025$33K
Net assets
$4.2M
FY2023▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2021$4.9M
FY2022$5.0M
FY2023$4.2M
FY2024$30K
FY2025$72K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $7.2M Management & general 28% · $2.9M

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

18 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert Foy
Treasurer
$0Pt VII · Sec A
Machelle Pardue
Former Direc
$0Pt VII · Sec A
Roger Mason
Asst. Treasu
$0Pt VII · Sec A
Cynthia Martin
Asst. Treasu
$0Pt VII · Sec A
See T3 Labs executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers preclinical testing and training for medical device, biologic, and pharmaceutical developers.

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Provided by the organization

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1 program · $7.2M · in their own filed words · FY2022
01

Preclinical testing and training services.

$7.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Global Center for Medical Innovation INCFY2023$392K
Total grants receivedfrom 1 funder$392K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$9.2M
Ln 12
Fees for servicesLn 2g$9.2M
Investment incomeLn 3$17K
Money outPt IX
$10.1M
Ln 25
Programscol B$7.2M
Managementcol C$2.9M
Owns and owesPt X
$4.2M
net assets · Ln 32
Cash and savingsLn 1–2$633K
Total assetsLn 16$12.9M
LiabilitiesLn 26$8.6M
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$9.2M
Investment incomeLn 3$17K
Total revenueLn 12$9.2M
Assets in detailPt X, end of year
SavingsLn 2$633K
Cash and savings togetherLn 1–2$633K
Land, buildings, equipmentLn 10c$6.8M
Other assetsLn 15$2.9M
Total assetsLn 16$12.9M
LiabilitiesLn 26$8.6M
Net assetsLn 32$4.2M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.2M$633K
Land, buildings, equipmentLn 10c$5.9M$6.8M
Total assetsLn 16$9.1M$12.9M
LiabilitiesLn 26$4.0M$8.6M
Net assetsLn 32$5.0M$4.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$3.7M$2.3M$1.4M
Pension plan contributionsLn 8$509K$312K$198K
Other employee benefitsLn 9$397K$243K$154K
Payroll taxesLn 10$246K$151K$95K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$1.2M$1.1M$110K
Advertising and promotionLn 12$44K$44K
Office expensesLn 13$106K$92K$14K
OccupancyLn 16$975K$719K$256K
TravelLn 17$51K$51K
InterestLn 20$68K$68K
Depreciation, depletion and amortizationLn 22$743K$506K$236K
Other expenses (24a–d)Ln 24$2.0M$1.8M$133K
All other expensesLn 24e$80K$14K$66K
Total functional expensesLn 25$10.1M$7.2M$2.9M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $75K$33K$42K$72K 990 PDF
FY2024 $7.1M$11.3M−$4.2M$30K 990 PDF
FY2023 Viewing $9.2M$10.1M−$905K$4.2M 990 PDF
FY2022 $8.6M$8.5M$108K$5.0M 990 PDF
FY2021 $6.4M$7.5M−$1.1M$4.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $9,216,756 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $8,509,627$9,200,161
I-10 Investment incomePrior year $56,689$16,595
I-11 Other revenue$0
I-12 Total revenuePrior year $8,566,316$9,216,756
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,407,979$4,843,623
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $5,050,767$5,278,352
I-18 Total expensesPrior year $8,458,746$10,121,975
I-19 Revenue less expensesPrior year $107,570−$905,219
Part VI · Governance 2 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $9,216,756 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,200,161$9,200,161
VIII-3 Investment incomeExcluded from tax $16,595$16,595
VIII-12 Total revenueRelated to mission $9,200,161 · Excluded from tax $16,595$9,216,756
Part IX · Statement of functional expenses $10,121,975 across 15 lines filed
IX-7 Other salaries and wagesPrograms $2,268,633 · Management $1,422,672$3,691,305
IX-8 Pension plan contributionsPrograms $311,814 · Management $197,649$509,463
IX-9 Other employee benefitsPrograms $242,917 · Management $153,978$396,895
IX-10 Payroll taxesPrograms $150,538 · Management $95,422$245,960
IX-11b Legal feesManagement $6,155$6,155
IX-11c Accounting feesManagement $17,201$17,201
IX-11g Other fees for servicesPrograms $1,102,146 · Management $110,191$1,212,337
IX-12 Advertising and promotionManagement $43,827$43,827
IX-13 Office expensesPrograms $91,630 · Management $14,421$106,051
IX-16 OccupancyPrograms $718,577 · Management $255,980$974,557
IX-17 TravelManagement $51,360$51,360
IX-20 InterestManagement $67,659$67,659
IX-22 Depreciation, depletion and amortizationPrograms $506,246 · Management $236,292$742,538
IX-24 Other expenses (24a–d)Programs $1,842,856 · Management $133,389$1,976,245
IX-24e All other expensesPrograms $14,244 · Management $66,178$80,422
IX-25 Total functional expensesPrograms $7,249,601 · Management $2,872,374 · Fundraising $0$10,121,975
Part X · Balance sheet $12,870,420 assets, 15 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,167,115$633,372
X-4 Accounts receivableStart of year $1,867,210$2,314,677
X-8 Inventories for sale or useStart of year $88,750$122,668
X-9 Prepaid expenses and deferred chargesStart of year $17,559$82,474
X-10c Land, buildings and equipment, netStart of year $5,908,038$6,776,298
X-15 Other assetsStart of year $37,161$2,940,931
X-16 Total assetsStart of year $9,085,833$12,870,420
X-17 Accounts payable and accrued expensesStart of year $1,843,441$3,705,047
X-19 Deferred revenueStart of year $377,394$664,336
X-24 Unsecured notes and loans payableStart of year $523,876$796,409
X-25 Other liabilitiesStart of year $1,291,206$3,463,013
X-26 Total liabilitiesStart of year $4,035,917$8,628,805
X-27 Net assets without donor restrictionsStart of year $5,049,916$4,241,615
X-32 Total net assets or fund balancesStart of year $5,049,916$4,241,615
X-33 Total liabilities and net assetsStart of year $9,085,833$12,870,420
Part XI · Reconciliation of net assets $4,241,615 net assets at year end
XI-1 Total revenue$9,216,756
XI-2 Total expenses$10,121,975
XI-3 Revenue less expenses−$905,219
XI-4 Net assets at start of year$5,049,916
XI-8 Prior period adjustments$96,918
XI-10 Net assets at end of year$4,241,615

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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