K12 Lean Labs

Nonprofit profile at a glance

EIN
465291428
IRS 990-EZ coverage
2015–2018
Forms available
Form 990-EZ 2018
Location
Birmingham, AL, USA
Phone
5127519561
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$2,805
Expenses
$11,295
Assets
$10,526

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • MICHAEL MILLSAP JR (EXECUTIVE DI)
  • NICOLE CARPENTER (DIRECTOR.)
  • WHITNEY WRIGHT (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

K12 lean labs is a birmingham, al based organization committed to delivering innovative entrepreneurship programs and curriculum to improve public education across the state of Alabama. K12's vision is to become the singular organization in Alabama where educators, entrepreneurs, and business/technology professionals meet to answer the toughest questions facing k-12 education. K12 lean labs executes this strategy by supporting entrepreneurship programs and curriculum in Alabama public schools. In 2014, k12 licensed the nationally recognized lemonade day program. Lemonade day is an experiential program that teaches students the concepts of entrepreneurship through building their own lemonade stand business.

What it reported doing in 2018

In late 2014, responding to a demand for greater innovation in education programs, services, and technologies, k12 lean labs began development of a k-12 incubator for innovative education programs and aspiring entrepreneurs. This new program is focused on identifying, developing, and launching innovative programs that can positively impact students across Alabama. It is a place for educators, parents, and students alike to develop, prototype, test, and launch big ideas

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 96
  • Transparency & Controls: 82
  • Sustainability: 15
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.5%; rating input score 90

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -302.7%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.93; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 57.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -50.1% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -75% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 24.1% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $10K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2015 to 2018
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.