2019-09-18T09:55:58-05:00 2018-12-31 042689883 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2018-01-01 461031913 LAB CENTRAL INC LABC 6178633650 700 MAIN STREET CAMBRIDGE MA 02139 JOHANNES FRUEHAUF PRESIDENT/CEO 6178633650 2019-09-16 1 HARRY A KALAJIAN JR CPA P00464296 6174399700 199.167.121.238 2019-09-17 10:34:18 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3035F85F9C36F92B25132AD5EF9C80758CB5F135 2018 2019-02-21 02:37:17Z JOHANNES FRUEHAUF 700 MAIN STREET CAMBRIDGE MA 02139 43676728 0 X HTTP://LABCENTRAL.ORG/ X 2012 DE LAB CENTRAL SUPPORTS CREATION OF INNOVATIVE STARTUP BIOTECHNOLOGY COMPANIES BY PROVIDING A WORLD-CLASS ENVIRONMENT FOR ENTREPRENEURS, AND A FULLY FUNCTIONAL LIFE SCIENCES LABORATORY WITHIN THE KENDALL SQUARE INNOVATION HUB. 5 3 32 3 12267488 591997 9506700 4752001 11763150 38732993 12566 76135 427555 115599 21709971 43676728 0 0 0 0 2869338 3799265 0 0 0 14433837 36553358 17303175 40352623 4406796 3324105 19414893 28162457 10617502 15628830 8797391 12533627 LAB CENTRAL SUPPORTS CREATION OF INNOVATIVE STARTUP BIOTECHNOLOGY COMPANIES BY PROVIDING A WORLD-CLASS ENVIRONMENT FOR ENTREPRENEURS, AND A FULLY FUNCTIONAL LIFE SCIENCES LABORATORY WITHIN THE KENDALL SQUARE INNOVATION HUB. 0 0 38018479 26581104 HELP CREATE THE NEXT GENERATION OF BIOTECH COMPANIES BY PROVIDING ENTREPRENEURS AND INNOVATIVE LIFE SCIENCES STARTUPS WITH THE SPACE AND RESOURCES NEEDED TO TEST OUT, CHALLENGE, AND NURTURE EARLY IDEAS. 38018479 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 4 0 1 32 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 5 3 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DE MA X LISA VELARDO CPA 6177972363 ASPEN CONSULTING LLC 28 VERA ROAD MIDDLETON MA 02139 PETER D PARKER SECRETARY/DIRECTOR 8.00 X X 54876 0 8917 JOHANNES FRUEHAUF MD PHD PRESIDENT 32.00 X X 270623 0 37178 TIMOTHY ROWE DIRECTOR 1.00 X 0 0 0 JOHN HARTHORNE DIRECTOR 1.00 X 0 0 0 STEVEN TREGAY PHD DIRECTOR 1.00 X 0 0 0 LISA VELARDO CFO/TREASURER 10.00 X 0 0 0 MARGARET E O'TOOLE VP OF OPERATIONS 40.00 X 235901 0 15283 CELINA C CHANG LAB MANAGER 40.00 X 141038 0 36637 KRISTA LICATA DIRECTOR OF OPERATIONS 40.00 X 141954 0 35774 SHAWN AYUBE DIR. OF HARVARD LIFE LAB OPERATIONS 40.00 X 160925 0 27059 1005317 0 160848 5 0 1 0 UG2 100 SUMMER ST BOSTON MA 02110 CLEANING AND MAINTENANCE FEES 228739 TRIUMVIRATE ENVIORNMENTAL 200 INNER BELT RD SOMERVILLE MA 02143 EHS SERVICES 188014 FRED WILLIAMS & SONS 2408 N LIBERTY ST INDEPENDENCE MO 64050 HVAC SERVICES 180648 3 4752001 1203747 4752001 INCUBATOR INCOME 541380 37399275 25131787 12267488 HARVARD LIFE LAB SERVICE 541380 1143760 1143760 ENGINE CONSULTING FEES 541380 189958 189958 38732993 76135 76135 EVENT REVENUE 900099 115599 115599 115599 43676728 26581104 12267488 76135 561400 363634 197766 2310674 1496687 813987 120508 85621 34887 601691 427503 174188 204992 154404 50588 90431 10703 79728 21085 2495 18590 40734 4821 35913 185951 141093 44858 490464 442216 48248 124001 120279 3722 8991763 8555016 436747 10790 10790 94790 94790 2584333 2455116 129217 74681 74681 LAB SUPPLIES & CONSUMAB 21100396 21100396 REPAIRS & MAINTENANCE 938292 938292 PFIZER PROFIT SHARING E 894629 894629 ENVIRONMENTAL SVCS & PE 533140 533140 377878 186854 191024 40352623 38018479 2334144 0 3774992 11064085 1556203 2300419 1500 235671 347373 18871357 5286549 12983845 13584808 864182 864272 19414893 28162457 5379735 8106344 2895223 2400856 1613324 2467092 729220 2654538 10617502 15628830 X 8797391 12533627 8797391 12533627 19414893 28162457 3324105 412131 0 X X 0 1 X 1 0 X 2358633 1554947 1818992 7818323 4140378 17691273 2358633 1554947 1818992 7818323 4140378 17691273 1672529 16018744 200 608 26169 12566 76135 115678 181287 12267488 12448775 97376 10678 107294 115599 330947 30586673 0.52370 0.78830 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: EVENT REVENUE - 2015 AMOUNT: $ 97,376. 2016 AMOUNT: $ 10,678. 2017 AMOUNT: $ 106,584. 2018 AMOUNT: $ 115,599. OTHER REVENUE - 2017 AMOUNT: $ 710. 9335563 566571 8768992 7290654 4136368 3154286 2245140 583610 1661530 13584808 TENANT DEPOSITS 1638431 PFIZER PROFIT SHARING 1016107 2654538 X 44088859 412131 412131 43676728 0 43676728 40352623 0 40352623 0 40352623 PART X, LINE 2: THE COMPANY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE HAS MADE NO PROVISION FOR FEDERAL OR STATE INCOME TAXES. THE COMPANY RECEIVED FAVORABLE DETERMINATION OF ITS STATUS FROM THE IRS IN A LETTER DATED JUNE 26, 2014. THE COMPANY ENTERED INTO A LABORATORY MANAGEMENT AGREEMENT WITH PFIZER (SEE NOTE 2) THAT HAS BEEN DETERMINED TO BE AN UNRELATED BUSINESS ACTIVITY AND WILL REQUIRE THE COMPANY TO FILE FORM 990-T UNRELATED BUSINESS INCOME TAX RETURN. THE COMPANY HAS GENERATED NET TAXABLE INCOME FROM THIS ACTIVITY IN 2018 AND HAS PROVIDED FOR FEDERAL AND STATE INCOME TAXES IN THE AMOUNT OF $200,000 DURING 2018. THE ACTIVITY WAS NOT MATERIAL DURING 2017 AND NO PROVISION FOR FEDERAL OR STATE INCOME TAXES WAS RECORDED. THE COMPANY FOLLOWS ACCOUNTING GUIDANCE REGARDING RECOGNITION, MEASUREMENT, PRESENTATION, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS IN THE FINANCIAL STATEMENTS. TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE COMPANY'S TAX RETURNS, INCLUDING THE POSITION THAT THE COMPANY QUALIFIES AS A TAX EXEMPT ENTITY, ARE REQUIRED TO BE EVALUATED TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE UPHELD UNDER REGULATORY REVIEW. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COMPANY, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2018 AND 2017, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COMPANY'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. BEGINNING WITH THE YEAR ENDED DECEMBER 31, 2015, THE COMPANY IS OPEN TO AUDIT UNDER THE APPLICABLE STATUTES OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES. THE COMPANY'S POLICY IS TO RECOGNIZE ANY INTEREST AND PENALTIES RELATED TO TAX MATTERS AS AN EXPENSE WHEN PAID. NO INTEREST OR PENALTIES WERE RECORDED DURING 2018 AND 2017. X X X 0 0 0 0 0 0 0 0 0 JOHANNES FRUEHAUF MD PHD PRESIDENT 270623 0 0 0 0 0 11168 0 26010 0 307801 0 0 0 MARGARET E O'TOOLE VP OF OPERATIONS 235901 0 0 0 0 0 1531 0 13752 0 251184 0 0 0 CELINA C CHANG LAB MANAGER 141038 0 0 0 0 0 10626 0 26011 0 177675 0 0 0 KRISTA LICATA DIRECTOR OF OPERATIONS 141954 0 0 0 0 0 9763 0 26011 0 177728 0 0 0 SHAWN AYUBE DIR. OF HARVARD LIFE LAB OPERATIONS 160925 0 0 0 0 0 11456 0 15603 0 187984 0 0 0 ASPEN CONSULTING LLC LISA VELARDO, MANAGING DIRECTOR 54570 LISA VELARDO, THE CFO/TREASURER OF LAB CENTRAL, INC. IS ALSO THE MANAGING DIRECTOR OF ASPEN CONSULTING, LLC WHICH PROVIDES FINANCIAL AND ACCOUNTING SERVICES TO LAB CENTRAL, INC. 0 X LAB EQUIPMENT 7 1203617 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 TWO BOARD MEMBERS ARE PARTNERS OF BIOINNOVATION, LLC. FORM 990, PART VI, SECTION B, LINE 11B A FULL COPY OF FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS PRIOR FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LAB CENTRAL, INC. HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRES THE BOARD TO REVIEW ALL RELATED PARTY TRANSACTIONS TO ENSURE NO CONFLICTS EXIST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION FOR THE ORGANIZATION'S PRESIDENT, EXECUTIVE DIRECTORS AND OFFICERS. THE PROCESS INCLUDES USING VARIOUS SOURCES TO EVALUATE THE COMPENSATION FOR EACH INDIVIDUAL. THE ORGANIZATION ALSO COMPLETED AN INDEPENDENT COMPENSATION STUDY. THE BOARD MUST APPROVE THE WRITTEN AGREEMENT. FORM 990, PART VI, SECTION C, LINE 19 LAB CENTRAL, INC.'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST TO THE GENERAL PUBLIC. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR 2018