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Lantern Network EIN 47-1971599

Lantern Network FY2020 filing

EIN  47-1971599 Religious organization Alton, IL
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Inspiring businesses and charities to revive a struggling city.
Leadership
David McCann · Post Commons Manager · $38K
Money in and out
$522K revenue, $433K expenses
Bottom line
98% program efficiency

Inspiring businesses and charities to revive a struggling city. For fiscal year 2020 it reported $522K in revenue, $433K in expenses, and $452K in net assets.Pt I

Where the money goes · FY2020
Total revenue
$522K
Pt VIII · Ln 12
Total expenses
$433K
Pt IX · Ln 25
Net assets
$452K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $89K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.02
Program efficiency
98%
of spending reaches programs
Operating runway
1.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+17%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$522K
FY2020
Expenses
$433K
FY2020
Total assets
$605K
FY2020
Total liabilities
$153K
FY2020
Total revenue
$522K
Pt VIII · Ln 12
Total expenses
$433K
Pt IX · Ln 25
Net assets
$452K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$89K
Total assetsPt X · Ln 16$605K
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

1 program service account for $423K of program spending, described in the organization's own filed words · FY2020.
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.

$423Kprogram expense

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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 1b5
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 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
David McCann
Post Commons Manager
$38,309Pt VII · Sec A
Shea Maples
Post Kitchen Manager
$27,071Pt VII · Sec A
Justine McCann
Post Event Manager/Barista
$23,676Pt VII · Sec A
Kristen Gaither
Lantern Staff
$22,222Pt VII · Sec A
Lindsey McCall
Financial Director
$9,646Pt VII · Sec A
Jeremy Stephens
Board Member
$0Pt VII · Sec A
Hugh Halter
President
$0Pt VII · Sec A
Brad Brisco
Vice President
$0Pt 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
Contributions & grants$302K · 58%
Other revenue$220K · 42%
Contributions & grants58%$302K
Other revenue42%$220K
Total revenueLn 12$522K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.02
Program services98%$423K
Management & general2%$10K
Total functional expensesLn 25$433K

Balance Sheet

Part X · end of year
CashLn 1$66K
Total assetsLn 16$605K
Total liabilitiesLn 26$153K
Total net assetsLn 32$452K
Months of cash on handcomputed1.8

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $66K · Operating expenses/yr $433K
1.8 months
Where the money goes
Program services
Program services $423K · Total expenses $433K
98%
Management & General
Management & general $10K · Total expenses $433K
2%
Fundraising
Fundraising $0 · Total expenses $433K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $302K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $302K · Total revenue $522K
58%
Government reliance
Government grants $0 · Total revenue $522K
0%
Earned-income share
Program service revenue $0 · Total revenue $522K
0%
Investment reliance
Investment income $0 · Total revenue $522K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $433K
0%
Growth & trend
Revenue growth (YoY)
This year $522K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $452K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $522K · Expenses $433K
+17%
Liabilities-to-Assets
Total liabilities — · Total assets $605K
—
Net-asset ratio
Net assets $452K · Total assets $605K
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $605K
0%
People & payroll
Highest Reported Total Compensation
Individual David McCann · Reported title Post Commons Manager · Highest reported compensation $38K · Total expenses $433K
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $185K · Total expenses $433K
43%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 98%——
Overhead ratio 2%——
Fundraising cost ratio 0%——
Investment management fee ratio 0%——
Legal fee ratio 2%——
Accounting fee ratio 1%——
Fundraising 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
Natl Christian Charitable Fdn INCFY2024$44K
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 · ⤓ 990 PDF
FY2023$819K revenue · ⤓ 990 PDF
FY2022$654K revenue · ⤓ 990 PDF
FY2021$1.0M revenue · ⤓ 990 PDF
FY2020$522K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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