Iron Light Labs
EIN: 861206324 · Chicago, IL · NTEE: R02
Is Iron Light Labs Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Iron Light Labs
Iron Light Labs (EIN: 861206324) is a nonprofit organization based in Chicago, IL, classified under NTEE code R02. The organization reported total revenue of $701K and total assets of $159K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iron Light Labs's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Iron Light Labs is a small nonprofit that has been operating for 4 years, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of 38.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.9M |
| Surplus / Deficit | $-105,967 |
| Total Assets | $39K |
| Total Liabilities | $126K |
| Net Assets | $-86,739 |
| Operating Margin | -6.1% |
| Debt-to-Asset Ratio | 323.4% |
| Months of Reserves | 0.3 months |
Financial Health Grade: D
In 2023, Iron Light Labs reported a deficit of $106K with expenses exceeding revenue, holds 0.3 months of operating reserves (limited), has a debt-to-asset ratio of 323.4% (high leverage).
Financial Trends
Over 3 years of filings (2021–2023), Iron Light Labs's revenue has grown at a compound annual growth rate (CAGR) of 38.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +26.0% | +35.3% | -87.6% |
| 2022 | +51.2% | +49.7% | +80.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2022 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Iron Light Labs has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Iron Light Labs with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $106K, with expenses exceeding revenue.
- Debt-to-asset ratio: 323.4%.
Frequently Asked Questions about Iron Light Labs
Is Iron Light Labs a legitimate charity?
Based on AI analysis of IRS 990 filings, Iron Light Labs (EIN: 861206324) insufficient data. 0 red flags identified, 0 strengths noted.
How does Iron Light Labs spend its money?
Detailed spending breakdown data is not yet available for Iron Light Labs. Check back for updated IRS 990 analysis.
Are donations to Iron Light Labs tax-deductible?
Iron Light Labs is registered as a tax-exempt nonprofit (EIN: 861206324). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Iron Light Labs showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Iron Light Labs's revenue has grown by 90.5%, moving from $916K to $1.7M. Total assets decreased by 77.5% over the same period, from $173K to $39K. Total functional expenses rose by 102.5%, from $914K to $1.9M. In its most recent filing year (2023), Iron Light Labs reported a deficit of $106K, with expenses exceeding revenue. The organization holds $126K in liabilities against $39K in assets (debt-to-asset ratio: 323.4%), resulting in net assets of $-86,739.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.9M | $39K | $126K | — | — |
| 2022 | $1.4M | $1.4M | $312K | $293K | — | View 990 |
| 2021 | $916K | $914K | $173K | $171K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.9M, and assets of $39K (revenue +26.0% year-over-year).
- 2022: Revenue of $1.4M, expenses of $1.4M, and assets of $312K (revenue +51.2% year-over-year).
- 2021: Revenue of $916K, expenses of $914K, and assets of $173K.
Data Sources and Methodology
This transparency report for Iron Light Labs is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.