Lantern Hill INC FY2022 filing

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Provide a home for seniors that satisfies their three primary needs.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$944K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $3.7M a year · 7% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$944K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$505.7M
107% of total assets
Concern: liabilities are 107% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 12 voting members
Looks good: 8 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$54.0M
+10% vs prior year
Spent
$60.2M
To programs
89%
Net assets
−$31.5M
By yearFY2020–FY2024
Revenue
$54.0M
FY2022▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$45.7M
FY2021$49.1M
FY2022$54.0M
FY2023$47.6M
FY2024$49.6M
Expenses
$60.2M
FY2022▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$45.1M
FY2021$54.2M
FY2022$60.2M
FY2023$48.6M
FY2024$56.4M
Net assets
−$31.5M
FY2022▼ -26%
Tap a bar for its year
Net assets by fiscal year
FY2020−$19.7M
FY2021−$24.9M
FY2022−$31.5M
FY2023−$29.7M
FY2024−$36.3M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $53.4M Management & general 11% · $6.8M Fundraising 0% · $179

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

27 people listed on the 990; $944K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$263,443Pt VII · Sec A
Director, Nursing
$137,153Pt VII · Sec A
Sales Counselor
$117,438Pt VII · Sec A
Registered Nurse Charge Nurse
$110,832Pt VII · Sec A
Senior Sales Associate
$110,028Pt VII · Sec A
Registered Nurse
$107,716Pt VII · Sec A
Director of Finance (thru 6/17/22)
$97,569Pt VII · Sec A
$0Pt VII · Sec A

Craig Karczmer’s $291K as Executive Director (thru 10/3/24) is at the 76th percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Craig Karczmer$290,692$277,846$263,443$262,006$272,297
Allison Eckhardt——$97,569$159,536$166,210
Jeddie Garcia————$153,405
Linda Bechtold$153,133$148,847$137,153$116,509$101,380
Joseph Pisano$151,391————
Jack Walsh$137,022————
Terri Campbell$123,470$114,087———
Marissa Delatorre$123,411$113,572———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Lantern Hill INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers seniors a home meeting their essential needs for comfort, care, and community.

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1 program · $53.4M · in their own filed words · FY2022
01

Lantern hill provides services needed by senior residents, who reside in 438 independent living units, 42 assisted living units and 40 skilled nursing beds. The services we provide to our residents include, but are not limited to housing, food, medical, security and maintenance services, recreational and pastoral activities.

$53.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$15K
Grants paid · 2 grants · $16K · 2023–2024
Unitemized GrantFY2024$9,000
Unitemized GrantFY2023$7,000

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2021 · $894K federal money spent
Provider Relief FundDepartment of Health and Human Services · ALN 93.498 · Direct$744K
Disaster Grants - Public Assistance (presidentially Declared Disasters)Department of Homeland Security · ALN 97.036 · Through New Jersey Office of Emergency Management$149K

The auditor reported 1 finding.

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$54.0M
Ln 12
Fees for servicesLn 2g$41.3M
Investment incomeLn 3$11.8M
Gifts and grantsLn 1h$803K
Money outPt IX
$60.2M
Ln 25
Programscol B$53.4M
Managementcol C$6.8M
Fundraisingcol D$179
Owns and owesPt X
−$31.5M
net assets · Ln 32
Cash and savingsLn 1–2$10.0M
Total assetsLn 16$474.2M
LiabilitiesLn 26$505.7M
PeoplePt VI, VII
27
listed · VII A
PaidVII A7
Voting boardVI 1a12
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$803K
Government grantsLn 1e$330K
Noncash giftsLn 1g$8K
Fees for servicesLn 2g$41.3M
Investment incomeLn 3$11.8M
Other incomeLn 4–11$186K
Gains on assetsLn 7−$42K
Total revenueLn 12$54.0M
Assets in detailPt X, end of year
SavingsLn 2$10.0M
Cash and savings togetherLn 1–2$10.0M
InvestmentsLn 11–13$7.7M
Land, buildings, equipmentLn 10c$216.0M
Total assetsLn 16$474.2M
LiabilitiesLn 26$505.7M
Net assetsLn 32−$31.5M
OperationsPt I, VI
EmployeesI 5561
VolunteersI 6102
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$7.8M$10.0M
InvestmentsLn 11–13$7.8M$7.7M
Land, buildings, equipmentLn 10c$214.3M$216.0M
Total assetsLn 16$464.7M$474.2M
LiabilitiesLn 26$489.6M$505.7M
Net assetsLn 32−$24.9M−$31.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3K$3K
Grants to domestic individualsLn 2$2K$2K
Pay of current officers, directors and key staffLn 5$384K$384K
Other salaries and wagesLn 7$13.2M$10.8M$2.5M
Pension plan contributionsLn 8$241K$187K$54K
Other employee benefitsLn 9$1.6M$1.3M$353K
Payroll taxesLn 10$1.3M$1.0M$260K
Management feesLn 11a$1.8M$1.8M
Legal feesLn 11b$178K$3K$175K
Accounting feesLn 11c$53K$53K
Investment management feesLn 11f$14K$14K
Other fees for servicesLn 11g$2.9M$417K$2.5M
Advertising and promotionLn 12$1.7M$1.7M
Office expensesLn 13$3.1M$2.6M$469K$179
OccupancyLn 16$13.4M$13.4M$79
TravelLn 17$58K$11K$47K
InterestLn 20$10.5M$10.5M
Depreciation, depletion and amortizationLn 22$7.5M$7.5M
InsuranceLn 23$479K$479K
Other expenses (24a–d)Ln 24$1.8M$1.7M$50K
Total functional expensesLn 25$60.2M$53.4M$6.8M$179

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Oct 21, 2025 $49.6M$56.4M−$6.9M−$36.3M 990 PDF
FY2023Filed with the IRS Oct 2, 2024 $47.6M$48.6M−$984K−$29.7M 990 PDF
FY2022 ViewingFiled with the IRS Nov 8, 2023 $54.0M$60.2M−$6.1M−$31.5M 990 PDF
FY2021Filed with the IRS Oct 13, 2022 $49.1M$54.2M−$5.1M−$24.9M 990 PDF
FY2020Filed with the IRS Aug 31, 2021 $45.7M$45.1M$599K−$19.7M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $54,016,716 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $911,500$803,066
I-9 Program service revenuePrior year $36,963,013$41,251,946
I-10 Investment incomePrior year $11,135,871$11,775,321
I-11 Other revenuePrior year $137,969$186,383
I-12 Total revenuePrior year $49,148,353$54,016,716
I-13 Grants and similar amounts paidPrior year $0$4,851
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $14,323,082$16,777,567
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $39,893,437$43,370,413
I-18 Total expensesPrior year $54,216,519$60,152,831
I-19 Revenue less expensesPrior year −$5,068,166−$6,136,115
Part VI · Governance 8 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $54,016,716 across 9 lines filed
VIII-1e Government grants$330,500
VIII-1f All other contributions, gifts and grants$472,566
VIII-1g Noncash contributions (included above)$7,627
VIII-1h Total contributions, gifts and grants$803,066
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $41,251,946$41,251,946
VIII-3 Investment incomeExcluded from tax $11,816,843$11,816,843
VIII-6 Net rental income or lossExcluded from tax $186,383$186,383
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$41,522−$41,522
VIII-12 Total revenueRelated to mission $41,251,946 · Unrelated business $0 · Excluded from tax $11,961,704$54,016,716
Part IX · Statement of functional expenses $60,152,831 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $2,851$2,851
IX-2 Grants to domestic individualsPrograms $2,000$2,000
IX-5 Pay of current officers, directors and key staffManagement $384,298$384,298
IX-7 Other salaries and wagesPrograms $10,759,298 · Management $2,478,017$13,237,315
IX-8 Pension plan contributionsPrograms $186,640 · Management $54,286$240,926
IX-9 Other employee benefitsPrograms $1,261,379 · Management $353,365$1,614,744
IX-10 Payroll taxesPrograms $1,040,155 · Management $260,129$1,300,284
IX-11a Management feesPrograms $1,825,378$1,825,378
IX-11b Legal feesPrograms $3,216 · Management $174,977$178,193
IX-11c Accounting feesManagement $52,701$52,701
IX-11f Investment management feesManagement $14,131$14,131
IX-11g Other fees for servicesPrograms $417,162 · Management $2,456,557$2,873,719
IX-12 Advertising and promotionPrograms $1,701,771$1,701,771
IX-13 Office expensesPrograms $2,628,665 · Management $468,761 · Fundraising $179$3,097,605
IX-16 OccupancyPrograms $13,359,374 · Management $79$13,359,453
IX-17 TravelPrograms $10,986 · Management $47,276$58,262
IX-20 InterestPrograms $10,495,319$10,495,319
IX-22 Depreciation, depletion and amortizationPrograms $7,485,136$7,485,136
IX-23 InsurancePrograms $478,591$478,591
IX-24 Other expenses (24a–d)Programs $1,699,858 · Management $50,296$1,750,154
IX-25 Total functional expensesPrograms $53,357,779 · Management $6,794,873 · Fundraising $179$60,152,831
Part X · Balance sheet $474,235,915 assets, 15 lines filed
Asset lines not itemized here account for $239,806,245; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $7,783,844$9,963,348
X-4 Accounts receivableStart of year $612,140$534,519
X-8 Inventories for sale or useStart of year $63,554$60,981
X-9 Prepaid expenses and deferred chargesStart of year $71,545$146,110
X-10c Land, buildings and equipment, netStart of year $214,250,470$216,019,220
X-11 Publicly traded securitiesStart of year $960,673$813,504
X-12 Other securitiesStart of year $6,797,450$6,891,988
X-16 Total assetsStart of year $464,665,892$474,235,915
X-17 Accounts payable and accrued expensesStart of year $3,582,789$4,153,538
X-25 Other liabilitiesStart of year $470,669,794$487,373,190
X-26 Total liabilitiesStart of year $489,599,640$505,727,998
X-27 Net assets without donor restrictionsStart of year −$26,135,107−$32,749,159
X-28 Net assets with donor restrictionsStart of year $1,201,359$1,257,076
X-32 Total net assets or fund balancesStart of year −$24,933,748−$31,492,083
X-33 Total liabilities and net assetsStart of year $464,665,892$474,235,915
Part XI · Reconciliation of net assets −$31,492,083 net assets at year end
XI-1 Total revenue$54,016,716
XI-2 Total expenses$60,152,831
XI-3 Revenue less expenses−$6,136,115
XI-4 Net assets at start of year−$24,933,748
XI-5 Net unrealized gains (losses) on investments−$275,151
XI-9 Other changes in net assets−$147,069
XI-10 Net assets at end of year−$31,492,083

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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