Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2018.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
9 people listed on the 990; $3.1M paid to officers and key staff.
Ken Seddon’s $778K as CEO is at the 99th percentile of top reported officer pay among 2832 $1–10M community development 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
| Name | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Ken Seddon | $777,500 | $1,407,115 | $900,000 | $450,000 |
| John Bronsnan | $704,000 | $365,000 | $363,000 | $333,000 |
| Steve McDevitt | $576,190 | $469,800 | $329,812 | $240,389 |
| Ilja Bedner | $374,500 | $334,000 | $419,000 | $410,250 |
| Lauren Krauss | $328,000 | $262,000 | — | — |
| Tyler Aroner | $240,950 | $228,000 | $123,077 | — |
| Sam Wiley | $223,980 | — | — | — |
| Andrew Block | — | — | — | $150,000 |
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.
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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
Protects innovators from patent lawsuits, fostering new ideas.
Questions for Lot Network INC
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Conference speaking engagements, MARKETING/PUBLIC relations and website development - each of these activities helped promote the mission of the organization to both members and the general public.
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $381K | $5.2M |
| Total assetsLn 16 | $3.7M | $6.0M |
| LiabilitiesLn 26 | $1.2M | $2.6M |
| Net assetsLn 32 | $2.5M | $3.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $1.5M | |||
| Other salaries and wagesLn 7 | $2.2M | |||
| Payroll taxesLn 10 | $24K | |||
| Management feesLn 11a | $115K | |||
| Legal feesLn 11b | $189K | |||
| Accounting feesLn 11c | $201K | |||
| Other fees for servicesLn 11g | $331K | |||
| Advertising and promotionLn 12 | $580K | |||
| Office expensesLn 13 | $66K | |||
| Information technologyLn 14 | $22K | |||
| TravelLn 17 | $431K | |||
| Conferences, conventions and meetingsLn 19 | $549K | |||
| InsuranceLn 23 | $11K | |||
| Other expenses (24a–d)Ln 24 | $536K | |||
| All other expensesLn 24e | $32K | |||
| Total functional expensesLn 25 | $6.7M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $9.2M | $8.7M | $457K | $3.7M | 990 PDF |
| FY2023 Viewing | $7.5M | $6.7M | $811K | $3.3M | 990 PDF |
| FY2022 | $6.5M | $6.1M | $407K | $2.5M | 990 PDF |
| FY2021 | $5.1M | $4.1M | $987K | $2.1M | 990 PDF |
| FY2020 | $3.7M | $3.5M | $277K | $1.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $7,527,054 revenue, 12 lines filed
Part VI · Governance 3 of 3 board members independent, 2 to look at
Part VIII · Statement of revenue $7,527,054 across 3 lines filed
Part IX · Statement of functional expenses $6,715,612 across 15 lines filed
Part X · Balance sheet $5,973,071 assets, 11 lines filed
Part XI · Reconciliation of net assets $3,347,897 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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