Labnet INC EIN 84-1508049

Labnet INC

EIN  84-1508049 Business league / trade association Milwaukee, WI Founded 1999
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Advocates for employers in labor and employment law matters.
Leadership
Laurie a Petersen · President
Money in and out
$232K revenue, $254K expenses
Bottom line
-9% operating surplus

Advocates for employers in labor and employment law matters. For fiscal year 2024 it reported $232K in revenue, $254K in expenses, and $202K in net assets.Pt I

Membership & operating revenue · FY2024
Total revenue
$232K
Pt VIII · Ln 12
Total expenses
$254K
Pt IX · Ln 25
Net assets
$202K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$22K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Operating surplus
-9%
revenue over expenses▲ +4% vs prior filing year
Earned revenue
35%
of revenue from program services & dues▲ +20% vs prior filing year
Program spending
90%
of expenses reach member services▼ -2% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$232K
FY2024▲ +3%
Expenses
$254K
FY2024▲ +3%
Total assets
$202K
FY2024▼ -10%
Total liabilities
$0
FY2024
Total revenue
$232K
Pt VIII · Ln 12
Total expenses
$254K
Pt IX · Ln 25
Net assets
$202K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$22K
Total assetsPt X · Ln 16$202K
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 325
Independent voting membersPt I · Ln 425
Mission & Programs · Part III

Where the work happens

2 program services, described in the organization's own filed words · FY2024.
01

Member Services

The organization provides services to its members which includes coordinating and maintaining a computerized database of research material and polled information for access by all member firms, providing webinars on employment law, and overseeing an email system for member firms for information sharing.

Pt IX · col B
02

Conferences

The organization conducts annual spring and fall conferences which includes continuing legal education in conjunction with each meeting.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLabnet INC
EINHdr · item D84-1508049
Principal addressHdr · item CMilwaukee, WI
WebsiteHdr · item Jworklaw.com
Year of formationHdr · item L1999
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S41)
Ruling yearIRS BMFApr 2023

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a25
Independent voting membersPt VI · Ln 1b25
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$144K · 62%
Program service revenue$81K · 35%
Investment income$8K · 3%
Contributions & grants62%$144K
Program service revenue35%$81K
Investment income3%$8K
Total revenueLn 12$232K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$229K
Management & general10%$25K
Total functional expensesLn 25$254K

Balance Sheet

Part X · end of year
CashLn 1$199K
Total assetsLn 16$202K
Total liabilitiesLn 26$0
Total net assetsLn 32$202K
Months of cash on handcomputed9.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $199K · Operating expenses/yr $254K
9.4 months
Where the money goes
Program services
Program services $229K · Total expenses $254K
90%
Management & General
Management & general $25K · Total expenses $254K
10%
Fundraising
Fundraising $0 · Total expenses $254K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $151K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $144K · Total revenue $232K
62%
Government reliance
Government grants — · Total revenue $232K
Earned-income share
Program service revenue $81K · Total revenue $232K
35%
Investment reliance
Investment income $8K · Total revenue $232K
+3%
Program self-sufficiency
Program service revenue $81K · Total expenses $254K
32%
Growth & trend
Revenue growth (YoY)
This year $232K · Prior year $225K
+3%
Net-asset trend (YoY)
End of year $202K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $232K · Expenses $254K
-9%
Liabilities-to-Assets
Total liabilities — · Total assets $202K
Net-asset ratio
Net assets $202K · Total assets $202K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $202K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Laurie a Petersen · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $254K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $254K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 10%
Revenue growth 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$225K revenue · ⤓ 990 PDF
FY2023$225K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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