Lab Theater Project Inc
Nonprofit profile at a glance
- EIN
- 843205022
- IRS 990-EZ coverage
- 2022–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2021
- Location
- Tampa, FL, USA
- Phone
- 8135864272
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $90,307
- Expenses
- $95,615
- Assets
- $25,541
- Liabilities
- $8,995
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- MICHAEL MCGREEVY (PRESIDENT)
People named in this filing
- OWEN ROBERTSON (VICE PRESIDE)
- MICHAEL MCGREEVY (PRESIDENT)
- LARRY CORWIN (SEC/TREASURE)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Lab theater project inc is a non-profit 501(c)(3) production company focused on producing new works in the tampa bay community. Our belief in a "playwright first" focus is resolute and a core value of the company. Along with a focus on developing new works, we also focus on training new theater artists to join our growing community. Our mandate: 1- bring the playwright's vision to life. 2- grow as artits. 3- develop new theater artists: directors, actors, stage managers, and designers 4- build a core of artists who desire a life-long practice of theatrical artistry.
What it reported doing in 2024
Lab theather project inc. Only produce works from emerging playwrighs and develop, through education, new artists (actors, directors, stage managers, and designers) for the continued growth of live theater artistry. We currently produce four new plays per year, often utilizing students in aspects of the production, thereby, giving students the opportunity to put into practice what they have learned while working side by side with established professionals in the community as well as enriching the collaborative creative process of the playwright.
Operating model
- Revenue model
- Donor-supported. 75% 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
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 82
- Sustainability: 30
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.1%; rating input score 92
- Program expense ratio: 87%; rating input score 87
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -5.9%; rating input score 35; 35th percentile among comparable filings
- Total-asset coverage ratio: 0.27; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 0.35; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -4.3% per year; rating input score 0; 37th percentile among comparable filings
- Revenue growth: -26.6% per year; rating input score 0; 11th percentile among comparable filings
- Asset growth: -29% per year; rating input score 0; 7th percentile among comparable filings
Details
- Where the money goes: 92.1% of revenue deployed · 87% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $83K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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 — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 35/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.