Technology Laboratory and Professi… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

Dr Clarence Nixon Jr

Phone

8883273387

Tax Period

2024-01-01 to 2024-12-31

Technology Laboratory and Professional Development, founded in 2007, is a small nonprofit in the Education sector that reported $543K in total revenue in fiscal year 2024.

Mission

TLAB realized strong academic, parental coaching, financial, programmatic and systems performances in FY 2021. In summary, the following occured:

Program Service Accomplishments

Program 1

Expenses: $533,372

T.Lab realized strong, academic performances among students, parental coaching, financial, programmatic and systems performances in FY 2013. In Summary, the following occured: 95% of t.Lab students are pursuing STEM Disciplines. 3.88 out of 4.0 Average GPA, $22.5M in academicscholarships since 2007. Median ACT 31 out of 36. Have served over 5,200 Parents and students. Our students have been accepted to multiple tier 1 colleges/universities. Kettering, Harvard, Columbia, Yale, Carnegie Mellon, University of Michigan, Morehouse College, Oakland, Michigan Tech, Michigan State, Northwestern, Fisk, Georgia Tech, University of Milkwaukee, University of Wisconsin, Case Western University, and Babson College. t.Lab has received the highest ranking from GuideStar since 2017 at the Platinum level. t.Lab has grown its revenue to over $555,000 while providing an average of 60% in scholarships and discounts. t.Lab is leading a national effort to increase the median ACT scores for Afreican and American students from 16 to 25. t.Lab developed a reputation for providing high quality goods and services to parents and students while realizing top 5% academic results. t.Lab students realized a median ACT score of 30.5 during FY 2023-2024.

Program 2

Facilities: We enhanced and improved facilities Web added an additional for PearsonVue Testing.

Program 3

Academic Expanded services to become a Global provider of academic development services supporting 5 Continents including North America, Europe, Africa, Asia, and South America. Enhanced and improved training material for Study Skills Course-AI based. Median ACT composite score of 30.5. Enhanced student coaching program-Character Leadership and Developmenmt. 4 Students partticipated in Kettering Universitys AIM Program 3rd Place, 7th Place, 11th Place and 12th Place finishes Expanded and extended formal ACT Testing Conducted the 8th Bishop B.A. Gilbert Annual Oratory Contest

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $543,127

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $543,127

Expense Breakdown

Grants Paid $0

Salaries & Benefits $960

Fundraising Expenses $0

Program Expenses $533,372

Other Expenses $532,412

TOTAL EXPENSES $533,372

Year-over-Year Comparison

	2024	2023	Change
Revenue	$543,127	N/A	N/A
Expenses	$533,372	N/A	N/A
Net Income	$9,755	N/A	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
Rev Larry S Bullock	DIRECTOR	Director	$0	$0	$0
Henry Cotton	DIRECTOR	Director	$0	$0	$0
Dr Pamela Floyd	DIRECTOR	Director	$0	$0	$0
Dr Tony Lyons	DIRECTOR	Director	$0	$0	$0
Donald R Dixon	DIRECTOR	Director	$0	$0	$0
Angela Williams	DIRECTOR	Director	$0	$0	$0
Joyce Washington	CHAIRWOMAN EMERITUS	Director	$0	$0	$0
Danielle Williams	DIRECTOR	Director	$0	$0	$0
Dr Clarence Nixon Jr	CHAIRMAN	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$543,127	$533,372	$438,311	$9,755
2023	No data	No data	No data	No data
2022	$390,275	$312,557	$470,803	$77,718
2021	$392,810	$268,804	$506,803	$124,006
2021	$263,508	$268,804	$171,341	$-5,296
2020	$275,017	$254,121	$308,641	$20,896
2019	$267,185	$253,921	$205,377	$13,264
2018	$230,893	$221,874	$171,820	$9,019

Technology Laboratory and Professional Development