Lab Four Professional Developm

Nonprofit profile at a glance

EIN
264178652
IRS 990 coverage
2016–2023
Forms available
Form 990 2023
Location
Memphis, TN, USA
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Job Training

Reported finances

Revenue
$1,411,726
Expenses
$1,882,401
Assets
$2,306,278
Liabilities
$541,134

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • TONY OKHIRA (PRESIDENT)

Highest reported compensation

  • TONY OKHIRA (PRESIDENT): $157,846 total reported compensation
  • STEPHNIE OKHIR (DIRECTOR): $41,262 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

LABFOUR mission is to become a key workforce develp partner in 3 ways by providing the best possible tech training to help business become m more successful by providing the skills and credentials for in

What it reported doing in 2023

Educational services

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

MIXED - Revenue has grown recently. A relatively small share of voting board members are independent and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 52
  • Accountability: 28
  • Sustainability: 25
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.3%; rating input score 67
  • Program expense ratio: 50.5%; rating input score 50
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 76.9%; rating input score 77; 0th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -33.3%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 1.23; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 10.6%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: -5.3% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 57.1% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 67.3% of revenue deployed · 50.5% of spending went to programs
  • Governance: 0 of 1 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $158K · 2 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 24 of 27 current checks pass · 3 findings to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2016 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D other liabilities reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D revenue reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.