Lantern Network EIN 47-1971599

Lantern Network

EIN  47-1971599 Religious organization Alton, IL
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Size
$1–10M
What they do
Inspiring businesses and charities to revive a struggling city.
Leadership
Taylor McCall · Treasure/Secretary/ Board Member · $65K
Money in and out
$1.1M revenue, $887K expenses
Bottom line
96% program efficiency

Inspiring businesses and charities to revive a struggling city. For fiscal year 2024 it reported $1.1M in revenue, $887K in expenses, and $896K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$887K
Pt IX · Ln 25
Net assets
$896K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $218K
Where spending went · Part IX cols B–D
Program services $0.96 Management & general $0.02 Fundraising $0.02
Program efficiency
96%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
0.9mo
months of highly liquid reserves at operating expense rate▲ +80% vs prior filing year
Surplus margin
+20%
revenue over expenses, this year▲ +498% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.1M
FY2024▲ +35%
Expenses
$887K
FY2024▲ +3%
Total assets
$1.1M
FY2024▲ +64%
Total liabilities
$159K
FY2024▼ -5%
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$887K
Pt IX · Ln 25
Net assets
$896K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$218K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B96%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 41
Mission & Programs · Part III

Where the work happens

3 program services account for $850K of program spending, described in the organization's own filed words · FY2024.
01

To be an incubator for "good works" in Alton, IL and the surrounding riverbend area. "Good works" include business incubator, residential and commercial property redevelopment, neighborhood spiritual and social communities, personal and professional life coaching, and social entrepreneurship.

$729Kprogram expense
02

This program supports Brave Cities which is a fiscal sponsor of Lantern Network. The mission of Brave Cities as working with Lantern Network is to locate, train, and equip pioneer leaders to build Kingdom ecosystems wishing existing cities to launch entrepreneurial startups, establish justice works, provide sustainability amount the…

$121Kprogram expense
03

Do not have a third program

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLantern Network
EINHdr · item D47-1971599
Principal addressHdr · item CAlton, IL
WebsiteHdr · item Jwww.postcommons.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFReligion (X21)
Ruling yearIRS BMFFeb 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b1
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Treasure/Secretary/ Board Member
$65,400Pt VII · Sec A
Post Commons Manager
$56,106Pt VII · Sec A
Post Commons Kitchen Manager
$38,790Pt VII · Sec A
Post Commons Employee
$36,123Pt VII · Sec A
Post Event Manager/Barista
$24,055Pt VII · Sec A
Event Manager
$22,742Pt VII · Sec A
Lantern Staff
$20,906Pt VII · Sec A
$19,363Pt VII · Sec A

Taylor McCall’s $65K as Treasure/Secretary/ Board Member is at the 24th percentile of top reported officer pay among 1637 $1–10M religion 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
Hugh Halter$138,000
Taylor McCall$65,400$63,400$58,500$34,100
David McCann$56,106$55,797$47,928$40,283$38,309
John Curtis Sweeney$38,790
Justine Carlson$24,055$38,170$37,635$35,753
Shea Maples$35,208$36,152$31,723$27,071
Grace Sakry$36,123
C Fleck$27,698$31,517

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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Statement of Revenue

Part VIII
Program service revenue$802K · 73%
Contributions & grants$303K · 27%
Program service revenue73%$802K
Contributions & grants27%$303K
Total revenueLn 12$1.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.96 Management & general $0.02 Fundraising $0.02
Program services96%$850K
Management & general2%$18K
Fundraising2%$19K
Total functional expensesLn 25$887K

Balance Sheet

Part X · end of year
CashLn 1$64K
Total assetsLn 16$1.1M
Total liabilitiesLn 26$159K
Total net assetsLn 32$896K
Months of cash on handcomputed0.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $64K · Operating expenses (Pt IX) $887K · Less non-cash grants $8K · Cash operating expenses/yr $879K
0.9 months
Where the money goes
Program services
Program services $850K · Total expenses $887K
96%
Management & General
Management & general $18K · Total expenses $887K
2%
Fundraising
Fundraising $19K · Total expenses $887K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $6K · Solicited contributions (3-yr avg) $315K
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $303K · Total revenue $1.1M
27%
Government reliance
Government grants $0 · Total revenue $1.1M
0%
Earned-income share
Program service revenue $802K · Total revenue $1.1M
73%
Investment reliance
Investment income $0 · Total revenue $1.1M
0%
Program self-sufficiency
Program service revenue $802K · Total expenses $887K
90%
Growth & trend
Revenue growth (YoY)
This year $1.1M · Prior year $819K
+35%
Revenue CAGR
FY2020 $522K · FY2024 $1.1M
+21%
Net-asset trend (YoY)
End of year $896K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.1M · Expenses $887K
+20%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
Net-asset ratio
Net assets $896K · Total assets $1.1M
85%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Taylor McCall · Reported title Treasure/Secretary/ Board Member · Highest reported compensation $65K · Total expenses $887K
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $474K · Total expenses $887K
53%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 96%
Overhead ratio 2%
Fundraising cost ratio 6%
Revenue growth 35%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$44K
Grants paid · 3 grants · $62K · 2020–2023
Forge AmericaTX · FY2023$12,500
Forge AmericaTX · FY2022$17,000
Forge AmericaTX · FY2020$33,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.1M revenue · viewing · ⤓ 990 PDF
FY2023$819K revenue · ⤓ 990 PDF
FY2022$654K revenue · ⤓ 990 PDF
FY2021$1.0M revenue · ⤓ 990 PDF
FY2020$522K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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