LABORATORY PRODUCTS ASSOCIATION

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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

1936

Legal Domicile

Principal Officer

CLARK MULLIGAN

Phone

7038361360

Tax Period

2024-07-01 to 2025-06-30

LABORATORY PRODUCTS ASSOCIATION, founded in 1936, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.1M left a modest 9% surplus.

Mission

THE PURPOSE OF THE LPA IS TO HELP ITS MEMBERS BETTER SERVE THEIR CUSTOMERS, TO IMPROVE BUSINESS PERFORMANCE, AND TO PROVIDE A FORUM FOR THE EXPLORATIONS OF INNOVATIVE IDEAS, BUSINESS PRACTICES, AND TECHNOLOGIES.

Program Service Accomplishments

Program 1

LABORATORY PRODUCTS ASSOCIATION (LPA):ITS MISSION IS TO PROMOTE THE PROGRESS AND DEVELOPMENT OF ITS MEMBERS' INDUSTRIES. ITS MEMBERS CONSIST OF MANUFACTURERS AND/OR DISTRIBUTORS OF INSTRUMENTS...

LABORATORY PRODUCTS ASSOCIATION (LPA):ITS MISSION IS TO PROMOTE THE PROGRESS AND DEVELOPMENT OF ITS MEMBERS' INDUSTRIES. ITS MEMBERS CONSIST OF MANUFACTURERS AND/OR DISTRIBUTORS OF INSTRUMENTS, APPARATUS, CHEMICALS, EQUIPMENT, SUPPLIES AND RELATED ACCESSORIES INTENDED PRIMARILY FOR SCIENTIFIC LABORATORY USE. PROGRAM INCLUDES (1) ANNUAL FORECAST & ANALYSIS OF THE LAB SUPPLY MARKET; (2) LABORATORY BUSINESS WORLD NEWSLETTER; (3) MONTHLY FLASH REPORT; (4) NORTH AMERICAN SURVEY OF LABORATORY PURCHASING TRENDS; AND, (5) ANNUAL MEETINGS.

Program 2

OPTICAL IMAGING ASSOCIATION (OPIA):WHOSE MEMBERSHIP CONSISTS OF MANUFACTURERS AND SUPPLIERS OF PRECISION OPTICAL INSTRUMENTS AND SYSTEMS IN AREAS SUCH AS MICROSCOPY, SURVEYING, OPHTHALMIC, REMOTE...

OPTICAL IMAGING ASSOCIATION (OPIA):WHOSE MEMBERSHIP CONSISTS OF MANUFACTURERS AND SUPPLIERS OF PRECISION OPTICAL INSTRUMENTS AND SYSTEMS IN AREAS SUCH AS MICROSCOPY, SURVEYING, OPHTHALMIC, REMOTE VISUAL INSPECTIONS, LASERS, ELECTRONIC IMAGING AND IMAGE ANALYSIS. OPIA MEMBERS PARTICIPATED IN THE QUARTERLY STATISTICS PROGRAM ON THE GLOBAL SALES OF VARIOUS MICROSCOPE MODELS AND PERIPHERAL COMPONENTS FOR MICROSCOPES SUCH AS CAMERAS AND SOFTWARE.

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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 $0

Program Service Revenue $1,135,403

Investment Income $94,729

Other Revenue $2,734

TOTAL REVENUE $1,232,866

Expense Breakdown

Grants Paid $0

Salaries & Benefits $400,914

Fundraising Expenses $0

Other Expenses $721,664

TOTAL EXPENSES $1,122,578

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,232,866	$1,234,185	0.0%
Expenses	$1,122,578	$1,194,676	-0.1%
Net Income	$110,288	$39,509	+1.8%

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

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

$255,630

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRAN HUTSON	CHAIR	1.00	Director	$0	$0	$0
RYAN TITMAS	VICE CHAIR	1.00	Director	$0	$0	$0
KEVIN FRAKE	IMMEDIATE PAST CHAIR	1.00	Director	$0	$0	$0
JOHN CINCOTTA	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE ROTH	DIRECTOR	1.00	Director	$0	$0	$0
DAVE HAZEL	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN LUCAS	DIRECTOR	1.00	Director	$0	$0	$0
LAURA STEINER	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE CRISPIN	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN LADD	DIRECTOR	1.00	Director	$0	$0	$0
STUART SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN YOPPI	DIRECTOR	1.00	Director	$0	$0	$0
KELLY WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL KOFEL	DIRECTOR	1.00	Director	$0	$0	$0
TIM MONTONDO	DIRECTOR	1.00	Director	$0	$0	$0
CLARK MULLIGAN	PRESIDENT	40.00	Officer	$210,024	$45,606	$255,630

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
2025	$1,232,866	$1,122,578	$2,546,035	$110,288
2024	$1,234,185	$1,194,676	$2,268,547	$39,509
2023	$1,218,830	$1,100,096	$2,068,770	$118,734
2022	$1,215,035	$1,135,012	$1,807,219	$80,023
2021	$835,994	$787,402	$1,856,093	$48,592
2020	$1,052,488	$967,349	$1,235,462	$85,139
2019	$1,026,645	$1,012,519	$1,484,617	$14,126