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Lancer Fund FY2022 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.

22¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · 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
22%
of spending
Concern: 22% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
124 mo
of spending, in cash
Looks good: 123.9 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
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$284K
+215% vs prior year
Spent
$63K
To programs
22%
Net assets
$653K
By yearFY2021–FY2025
Revenue
$284K
FY2022▲ +215%
Revenue by fiscal year
FY2021$90K
FY2022$284K
FY2023$419K
FY2024$81K
FY2025$33K
Expenses
$63K
FY2022▼ -69%
Expenses by fiscal year
FY2021$205K
FY2022$63K
FY2023$634K
FY2024$283K
FY2025$57K
Net assets
$653K
FY2022▲ +51%
Net assets by fiscal year
FY2021$433K
FY2022$653K
FY2023$438K
FY2024$236K
FY2025$211K

From the FY2022 Form 990 (year ending June 2022) · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2020
You’re viewing the FY2022 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

22 cents of each dollar spent went to programs.

Program services 22% · $14K Management & general 44% · $28K Fundraising 34% · $21K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 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
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

This section is blank until Lancer Fund claims this page.

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1 program service account for $14K of program spending, described in the organization's own filed words · FY2021.
01

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

$14Kprogram expense

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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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$284K
Ln 12
Gifts and grantsLn 1h$230K
Other incomeLn 4–11$53K
Investment incomeLn 3$277
Money outPt IX
$63K
Ln 25
Programscol B$14K
Managementcol C$28K
Fundraisingcol D$21K
Owns and owesPt X
$653K
net assets · Ln 32
Cash and savingsLn 1–2$653K
Total assetsLn 16$653K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$230K
Fundraising eventsLn 1c$15K
Investment incomeLn 3$277
Other incomeLn 4–11$53K
Total revenueLn 12$284K
Assets in detailPt X, end of year
CashLn 1$653K
Cash and savings togetherLn 1–2$653K
Total assetsLn 16$653K
LiabilitiesLn 26$0
Net assetsLn 32$653K
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 FY22End FY22
Cash and savingsLn 1–2$433K$653K
Total assetsLn 16$433K$653K
LiabilitiesLn 26$0$0
Net assetsLn 32$433K$653K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$4K$4K
Office expensesLn 13$6K$6K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$21K$20$21K
Total functional expensesLn 25$63K$14K$28K$21K

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 Viewing $284K$63K$220K$653K 990 PDF
FY2021 $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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $283,704 across 6 lines filed
VIII-1c Fundraising events$14,775
VIII-1f All other contributions, gifts and grants$215,626
VIII-1h Total contributions, gifts and grants$230,401
VIII-3 Investment incomeUnrelated business $277$277
VIII-8 Net income from fundraising eventsExcluded from tax $53,026$53,026
VIII-12 Total revenueRelated to mission $0 · Unrelated business $277 · Excluded from tax $53,026$283,704
Part IX · Statement of functional expenses $63,293 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $14,000$14,000
IX-11c Accounting feesManagement $16,539$16,539
IX-11g Other fees for servicesManagement $3,639$3,639
IX-13 Office expensesManagement $5,964$5,964
IX-23 InsuranceManagement $1,918$1,918
IX-24 Other expenses (24a–d)Management $20 · Fundraising $21,213$21,233
IX-25 Total functional expensesPrograms $14,000 · Management $28,080 · Fundraising $21,213$63,293
Part X · Balance sheet $653,299 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $432,888$653,299
X-16 Total assetsStart of year $432,888$653,299
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $432,888$653,299
X-33 Total liabilities and net assetsStart of year $432,888$653,299
Part XI · Reconciliation of net assets $653,299 net assets at year end
XI-1 Total revenue$283,704
XI-2 Total expenses$63,293
XI-3 Revenue less expenses$220,411
XI-4 Net assets at start of year$432,888
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$653,299

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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