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Lancer Fund FY2021 filing

IRS exemption revoked

Delran, NJ501(c)(3)EIN 82-3812974

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The corporation has been organized exclusively for charitable, educational, and religious purposes within the meaning of section 501(c)(3) of the internal revenue code, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code. More specifically, the purpose for which the corporation is organized to support and benefit holy cross preparatory academy, a new jersey nonprofit corporation and/or other roman catholic religious educational institutions.

88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $67K a year · 37% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
25 mo
of spending, in cash
Looks good: 25.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$90K
Spent
$205K
To programs
88%
Net assets
$433K
By yearFY2021–FY2025
Revenue
$90K
FY2021
Revenue by fiscal year
FY2021$90K
FY2022$284K
FY2023$419K
FY2024$81K
FY2025$33K
Expenses
$205K
FY2021
Expenses by fiscal year
FY2021$205K
FY2022$63K
FY2023$634K
FY2024$283K
FY2025$57K
Net assets
$433K
FY2021
Net assets by fiscal year
FY2021$433K
FY2022$653K
FY2023$438K
FY2024$236K
FY2025$211K

From the FY2021 Form 990 (year ending June 2021) · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2020
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2025. IRS ruling in Mar 1946.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $180K Management & general 8% · $16K Fundraising 4% · $9K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Peter Sciortino
Chair/President
$0Pt VII · Sec A
Dennis W Murawski
Vice-Chair/Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lancer Fund executive salaries →

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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 15aNo

Programs and updates

Supports Roman Catholic religious and educational institutions, including Holy Cross Preparatory Academy.

Provided by the organization

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1 program · $180K · in their own filed words · FY2020
01

To support and benefit holy cross preparatory academy and other roman catholic religious educational institutions.

$180Kprogram 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 · FY2022
Bolte Family FoundationFY2022$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 4 grants · $914K · 2021–2024
Holy Cross Prepatory AcademyNJ · FY2024$44,000
Holy Cross Prepatory AcademyNJ · FY2023$259,600
Holy Cross Prepatory AcademyNJ · FY2022$595,925
Holy Cross Prepatory AcademyNJ · FY2021$14,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$90K
Ln 12
Gifts and grantsLn 1h$50K
Other incomeLn 4–11$40K
Investment incomeLn 3$642
Money outPt IX
$205K
Ln 25
Programscol B$180K
Managementcol C$16K
Fundraisingcol D$9K
Owns and owesPt X
$433K
net assets · Ln 32
Cash and savingsLn 1–2$433K
Total assetsLn 16$433K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$50K
Fundraising eventsLn 1c$5K
Investment incomeLn 3$642
Other incomeLn 4–11$40K
Total revenueLn 12$90K
Assets in detailPt X, end of year
CashLn 1$433K
Cash and savings togetherLn 1–2$433K
Total assetsLn 16$433K
LiabilitiesLn 26$0
Net assetsLn 32$433K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$548K$433K
Total assetsLn 16$548K$433K
LiabilitiesLn 26$0$0
Net assetsLn 32$548K$433K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$180K$180K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$464$464
Advertising and promotionLn 12$240$240
Office expensesLn 13$6K$6K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$9K$273$9K
Total functional expensesLn 25$205K$180K$16K$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $33K$57K−$25K$211K 990 PDF
FY2024 $81K$283K−$203K$236K 990 PDF
FY2023 $419K$634K−$215K$438K 990 PDF
FY2022 $284K$63K$220K$653K 990 PDF
FY2021 Viewing $90K$205K−$115K$433K 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $90,037 across 6 lines filed
VIII-1c Fundraising events$5,167
VIII-1f All other contributions, gifts and grants$44,623
VIII-1h Total contributions, gifts and grants$49,790
VIII-3 Investment incomeUnrelated business $642$642
VIII-8 Net income from fundraising eventsExcluded from tax $39,605$39,605
VIII-12 Total revenueRelated to mission $0 · Unrelated business $642 · Excluded from tax $39,605$90,037
Part IX · Statement of functional expenses $204,897 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $179,600$179,600
IX-11b Legal feesManagement $2,035$2,035
IX-11c Accounting feesManagement $5,600$5,600
IX-11g Other fees for servicesManagement $464$464
IX-12 Advertising and promotionManagement $240$240
IX-13 Office expensesManagement $5,735$5,735
IX-23 InsuranceManagement $1,786$1,786
IX-24 Other expenses (24a–d)Management $273 · Fundraising $9,164$9,437
IX-25 Total functional expensesPrograms $179,600 · Management $16,133 · Fundraising $9,164$204,897
Part X · Balance sheet $432,888 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $547,748$432,888
X-16 Total assetsStart of year $547,748$432,888
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $547,748$432,888
X-33 Total liabilities and net assetsStart of year $547,748$432,888
Part XI · Reconciliation of net assets $432,888 net assets at year end
XI-1 Total revenue$90,037
XI-2 Total expenses$204,897
XI-3 Revenue less expenses−$114,860
XI-4 Net assets at start of year$547,748
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$432,888

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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