2015-10-21T07:02:38-05:00 2014-12-31 WOLF & COMPANY PC 99 HIGH STREET 21ST FLOOR BOSTON MA 02110 990 2014-01-01 461031913 Lab Central Inc % LISA VELARDO CPA LABC 6178633650 700 main street cambridge MA 02139 JOHANNES FRUEHAUF President 6178633650 2015-10-14 true Anthony T Carideo JR CPA P00171579 6174399700 2015-10-05 2014 2016-02-25 16:41:14Z Johannes Fruehauf 700 Main Street cambridge MA 02139 6508350 false X http://labcentral.org/ X 2012 DE see part iii, line 1 5 2 13 3 0 5145220 2358633 181434 4149517 -877234 200 0 0 4449420 6508350 0 0 0 0 437610 1150171 0 0 0 1690806 4994397 2128416 6144568 2321004 363782 5021085 6864839 3123546 4380181 1897539 2484658 LABCENTRAL 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. false false 5194373 4149517 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 5194373 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false true false true true false false false false false false false false true 8 0 true 13 true false false false false false false false false false false false false X 5 2 true false false false false false false true true false false true true true true true true true true false DE MA X LISA VELARDO CPA 6177972363 ASPEN CONSULTING LLC 28 VERA ROAD middleton MA 02139 Peter D Parker Secretary 20.0 0.0 X X 65000 0 1400 Johannes Fruehauf md phd President 32.0 0.0 X X 300000 0 7000 Timothy Rowe director 1.0 0.0 X 0 0 0 John Harthorne Director 1.0 0.0 X 0 0 0 Steven Tregay phd Director 1.0 0.0 X 0 0 0 Lisa Velardo CFO/Treasurer 10.0 0.0 X 0 0 0 Margaret E O'Toole VP of Operations 40.0 0.0 X 205000 0 7200 Celina C Chang ASST. DIR. OF LAB OPERATIONS 40.0 0.0 X 109080 0 3463 679080 0 19063 3 false true false The Richmond Group Inc 77 Main St 8 HOPKINTON MA 01748 lab buildout/contr 217129 1 1170104 1188529 248498 2358633 INCUBATOR INCOME 900099 4149517 4149517 4149517 200 200 0 0 0 0 0 0 0 0 0 0 6508350 4149517 200 0 0 0 0 570000 331253 238747 0 307149 178498 128651 0 212507 130793 81714 60515 37480 23035 0 223822 61555 162267 25020 25020 0 0 0 10142 10142 71007 17944 53063 148217 107038 41179 16943 16943 0 1679546 1679546 0 0 0 1342 1342 0 495186 495186 25992 11902 14090 ENVIRONMENTAL SVCS & PERMITS 218048 218048 LAB SUPPLIES & CONSUMABLE 1761500 1761500 0 OUTSIDE CONSULTING 167495 167495 REPAIRS & MAINTENANCE 119860 119860 30277 25485 4792 6144568 5194373 950195 0 1073074 3425837 25000 25000 0 0 1354416 459675 0 0 0 0 0 0 0 0 5377 18715 3155995 551680 2236921 2604315 0 0 0 0 0 0 0 0 326297 331297 5021085 6864839 1931146 2076888 0 0 1075422 2021425 0 0 0 0 0 0 0 0 0 0 116978 281868 3123546 4380181 X 1897539 2484658 0 0 0 0 1897539 2484658 5021085 6864839 363782 223337 X false true X true X 0 0 0 5145220 2358633 7503853 0 0 0 0 0 5145220 2358633 7503853 1014345 6489508 1323 200 1523 0 0 7505376 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 818344 84889 733455 1842357 360635 1481722 495294 106156 389138 2604315 0 CURRENT PORTION OF CAPITAL LEA 9868 NON-CURRENT PORTION OF CAPITAL 8450 TENANT DEPOSITS 263550 281868 X 6731687 223337 223337 6508350 6508350 6144568 6144568 6144568 Schedule D, Part X, Line 2 - Uncertain Tax Positions 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 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 Companys 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. In January 2013, the Company submitted its application for tax exempt status under Section 501(c)(3) to the IRS. The Company received favorable determination of its status from the IRS in a letter dated June 26, 2014. Management has analyzed the tax positions taken by the Company, and has concluded that as of December 31, 2014, 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 Companys income tax returns are subject to review and examination by federal and state taxing authorities. Beginning with the year ended December 31, 2013, the Company is open to audit under the applicable statutes of limitations by the Internal Revenue Service and state taxing authorities. The Companys policy is to recognize any interest and penalties related to tax matters as an expense when paid. No interest or penalties were recorded during 2014 and 2013. X X X X false false false false false false false true false Johannes Fruehauf md phd President 200000 0 100000 0 0 0 7000 0 0 0 307000 0 0 0 Margaret E O'Toole VP of Operations 177000 0 28000 0 0 0 7200 0 0 0 212200 0 0 0 Part I Line 7 The bonuses paid to the President and Secretary are not fixed. The bonuses are discretionary and subject to final Board approval based on the Company's overall performance. 0 Cambridge Bio Lab Johannes Fruehauf exe dir 86921 management services false Cambridge Innovation Center Tim Rowe, CEO 15470 IT consulting services false Aspen Consulting LLC Lisa Velardo, Man Dir 41323 Accounting services false Business Relationships Johannes Fruehauf, the CEO & President of the Lab Central, Inc., is also the Executive Director of Cambridge Bio Lab, which provides management sevices to Lab Central, Inc. Tim Rowe, the Board Member of Lab Central, Inc., is also the CEO of Cambridge Innovation Center, which provides IT consulting servies to Lab Central Lisa Velardo, the CFo/Treasurer of Lab Central, Inc. is also the managing director Aspen Consulting, LLC which provides financial and accounting services to the organization. X Lab supplies & equipments 4 248498 fmv false false false 990, PART VI, SECTION B, LINE 11 - REVIEW OF 990 RETURN a full copy of Form 990 is made available to the board of directors prior filing with the IRS. 990, PART VI, SECTION B, LINE 12C - Conflict of Interest Policy 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. 990, PART VI, SECTION B, LINE 15 - Compensation Determination 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 board must approve the written agreement. 990, PART VI, SECTION C, LINE 19 - Availability of Documents Lab Central, Inc.'s governing documents, financial statements and form 990 are available upon request to the general public. 990, Part VI, Line 2 - Relationships Two board member are both partners of BIOinnovation, LLC.