Lantern Network FY2023 filing

Tax-deductible

Alton, IL501(c)(3)ReligionEIN 47-1971599Revenue $819K in FY2023

On file with the IRSpostcommons.com300 Alby St, 62002-6251 · Alton, ILTax-exempt since Feb 2016Publicly supported charity — 170(b)(1)(A)(vi)

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To catalyze business and benovolence into a movement to help a depressed city thrive in all aspects of life.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$290K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
3 of 5
filings with a surplus
Average surplus $79K a year · 10% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$290K
to officers and key staff · 34% of spending
Concern: pay to officers and key staff is 34% of spending; over 30%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $44K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$167K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$819K
+25% vs prior year
Spent
$860K
To programs
100%
Net assets
$475K
By yearFY2020–FY2024
Revenue
$819K
FY2023▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$522K
FY2021$1.0M
FY2022$654K
FY2023$819K
FY2024$1.1M
Expenses
$860K
FY2023▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$433K
FY2021$594K
FY2022$944K
FY2023$860K
FY2024$887K
Net assets
$475K
FY2023▼ -24%
Tap a bar for its year
Net assets by fiscal year
FY2020$452K
FY2021$897K
FY2022$628K
FY2023$475K
FY2024$896K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2015-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Feb 2016.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $860K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $290K paid to officers and key staff.

Part VII, Section A · reportable compensation
Treasure/Secretary/ Board Member
$63,400Pt VII · Sec A
Post Commons Manager
$55,797Pt VII · Sec A
Post Event Manager/Barista
$38,170Pt VII · Sec A
Post Kitchen Manager
$35,208Pt VII · Sec A
$30,000Pt VII · Sec A
Barista/ Roaster
$27,698Pt VII · Sec A
Lantern Staff
$21,878Pt VII · Sec A
Financial Director
$18,000Pt VII · Sec A

Taylor McCall’s $65K as Treasure/Secretary/ Board Member is at the 24th percentile of top reported officer pay among 1636 $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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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Inspiring businesses and charities to revive a struggling city.

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Provided by the organization

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3 programs · $860K · in their own filed words · FY2023
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.

$756Kprogram 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…

$104Kprogram expense
03

Do not have a third program

Pt IX · col B

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$44K
Grants paid · 3 grants · $62K · 2020–2023
Forge AmericaTX · FY2023$12,500
Forge AmericaTX · FY2022$17,000
Forge AmericaTX · FY2020$33,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$819K
Ln 12
Other incomeLn 4–11$489K
Gifts and grantsLn 1h$330K
Money outPt IX
$860K
Ln 25
Programscol B$860K
Owns and owesPt X
$475K
net assets · Ln 32
Cash and savingsLn 1–2$33K
Total assetsLn 16$642K
LiabilitiesLn 26$167K
PeoplePt VI, VII
11
listed · VII A
PaidVII A8
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$330K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Other incomeLn 4–11$489K
Total revenueLn 12$819K
Assets in detailPt X, end of year
CashLn 1$33K
Cash and savings togetherLn 1–2$33K
Land, buildings, equipmentLn 10c$574K
Total assetsLn 16$642K
LiabilitiesLn 26$167K
Net assetsLn 32$475K
OperationsPt I, VI
EmployeesI 519
VolunteersI 610
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 FY23End FY23
Cash and savingsLn 1–2$72K$33K
Land, buildings, equipmentLn 10c$612K$574K
Total assetsLn 16$703K$642K
LiabilitiesLn 26$75K$167K
Net assetsLn 32$628K$475K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$21K$21K
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Other salaries and wagesLn 7$441K$441K$0$0
Management feesLn 11a$9K$9K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$17K$17K
Office expensesLn 13$54K$54K
OccupancyLn 16$23K$23K
TravelLn 17$18K$18K
Depreciation, depletion and amortizationLn 22$28K$28K
InsuranceLn 23$19K$19K
Other expenses (24a–d)Ln 24$227K$227K$0$0
Total functional expensesLn 25$860K$860K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$887K$218K$896K 990 PDF
FY2023 Viewing $819K$860K−$41K$475K 990 PDF
FY2022 $654K$944K−$291K$628K 990 PDF
FY2021 $1.0M$594K$419K$897K 990 PDF
FY2020 $522K$433K$89K$452K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $819,055 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $311,026$330,234
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $342,707$488,821
I-12 Total revenuePrior year $653,733$819,055
I-13 Grants and similar amounts paidPrior year $22,400$21,265
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $533,246$441,227
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $388,750$397,073
I-18 Total expensesPrior year $944,396$859,565
I-19 Revenue less expensesPrior year −$290,663−$40,510
Part VI · Governance 3 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
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 $819,055 across 9 lines filed
Lines not itemized here account for $488,821 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$330,234
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$330,234
VIII-12 Total revenueRelated to mission $488,821 · Unrelated business $0 · Excluded from tax $0$819,055
Part IX · Statement of functional expenses $859,565 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $21,265$21,265
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-7 Other salaries and wagesPrograms $441,227 · Management $0 · Fundraising $0$441,227
IX-11a Management feesPrograms $9,482$9,482
IX-11c Accounting feesPrograms $1,970$1,970
IX-12 Advertising and promotionPrograms $16,929$16,929
IX-13 Office expensesPrograms $53,635$53,635
IX-16 OccupancyPrograms $23,400$23,400
IX-17 TravelPrograms $17,651$17,651
IX-22 Depreciation, depletion and amortizationPrograms $27,994$27,994
IX-23 InsurancePrograms $19,291$19,291
IX-24 Other expenses (24a–d)Programs $226,721 · Management $0 · Fundraising $0$226,721
IX-25 Total functional expensesPrograms $859,565 · Management $0 · Fundraising $0$859,565
Part X · Balance sheet $642,134 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $71,557$32,751
X-4 Accounts receivableStart of year $23,806$35,249
X-9 Prepaid expenses and deferred chargesStart of year −$4,600$0
X-10c Land, buildings and equipment, netStart of year $611,780$574,134
X-16 Total assetsStart of year $702,543$642,134
X-17 Accounts payable and accrued expensesStart of year $109,923$113,148
X-25 Other liabilitiesStart of year −$35,303$53,589
X-26 Total liabilitiesStart of year $74,620$166,737
X-32 Total net assets or fund balancesStart of year $627,923$475,397
X-33 Total liabilities and net assetsStart of year $702,543$642,134
Part XI · Reconciliation of net assets $475,397 net assets at year end
XI-1 Total revenue$819,055
XI-2 Total expenses$859,565
XI-3 Revenue less expenses−$40,510
XI-4 Net assets at start of year$627,923
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$112,016
XI-10 Net assets at end of year$475,397

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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