Rmi Lab Properties Inc

Nonprofit profile at a glance

EIN
864000927
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Fort Collins, CO, USA
Phone
9702211301
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$444,757
Expenses
$517,888
Assets
$5,527,042
Liabilities
$5,645,236

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • MICHAEL FREEMAN (PRESIDENT)

Highest reported compensation

  • MICHAEL FREEMAN (PRESIDENT): $177,172 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To give bioscience and climate tech startups the ability to access affordable wet laboratory space to carry out their research and development, an essential step to commericalize their technologies.

What it reported doing in 2024

Laboratory space rental for start up companies for sustainability.

Operating model

Revenue model
Earned-program. 63% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 71
  • Accountability: 60
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.1%; rating input score 62
  • Program expense ratio: 65.9%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.4%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 10.67; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 16.6% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 37.9% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: -1.1% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 62.1% of revenue deployed · 65.9% of spending went to programs
  • Governance: 3 of 4 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $341K in reported program spending
  • Leadership: top reported pay $177K · 4 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.