Light the Hoan INC EIN 86-3974607

Light the Hoan INC FY2023 filing

EIN  86-3974607 Public charity (501(c)(3)) Milwaukee, WI
Form 990 (PDF)
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Size
$100K–1M
What they do
Promotes culture and education through programs and resources.
Leadership
Erika Smith · Executive Director · $84K
Money in and out
$739K revenue, $259K expenses
Bottom line
77% program efficiency

Promotes culture and education through programs and resources. For fiscal year 2023 it reported $739K in revenue, $259K in expenses, and $513K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$739K
Pt VIII · Ln 12
Total expenses
$259K
Pt IX · Ln 25
Net assets
$513K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $480K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.20 Fundraising $0.03
Program efficiency
77%
of spending reaches programs
Operating runway
23.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+65%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$739K
FY2023▲ ×924
Expenses
$259K
FY2023
Total assets
$514K
FY2023
Total liabilities
$457
FY2023
Total revenue
$739K
Pt VIII · Ln 12
Total expenses
$259K
Pt IX · Ln 25
Net assets
$513K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$480K
Total assetsPt X · Ln 16$514K
Program-expense ratioPt IX · col B77%
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 $201K of program spending, described in the organization's own filed words · FY2023.
01

To promote appreciation for culture and history and to create education opportunities in the fields of Science, Technology, Engineering, and Math.

$201Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLight the Hoan INC
EINHdr · item D86-3974607
Principal addressHdr · item CMilwaukee, WI
WebsiteHdr · item Jwww.lightthehoan.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A27)
Ruling yearIRS BMFJan 2023

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 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$84,376Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Erika Smith’s $90K as Executive Director is at the 83rd percentile of top reported officer pay among 2213 $100K–1M arts & culture 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 · 2 named individuals · Part VII

NameFY2024FY2023
Erika Smith$90,301
Erika Smith$84,376

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$507K · 69%
Program service revenue$224K · 30%
Investment income$9K · 1%
Contributions & grants69%$507K
Program service revenue30%$224K
Investment income1%$9K
— government grantsLn 1e$22K
Total revenueLn 12$739K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.20 Fundraising $0.03
Program services77%$201K
Management & general20%$51K
Fundraising3%$8K
Total functional expensesLn 25$259K

Balance Sheet

Part X · end of year
CashLn 1$514K
Total assetsLn 16$514K
Total liabilitiesLn 26$457
Total net assetsLn 32$513K
Months of cash on handcomputed23.8

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $514K · Operating expenses/yr $259K
23.8 months
Where the money goes
Program services
Program services $201K · Total expenses $259K
77%
Management & General
Management & general $51K · Total expenses $259K
20%
Fundraising
Fundraising $8K · Total expenses $259K
3%
Cost to raise $1
Fundraising expense $8K · Solicited contributions $485K
$0.02 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $507K · Total revenue $739K
69%
Government reliance
Government grants $22K · Total revenue $739K
3%
Earned-income share
Program service revenue $224K · Total revenue $739K
30%
Investment reliance
Investment income $9K · Total revenue $739K
+1%
Program self-sufficiency
Program service revenue $224K · Total expenses $259K
86%
Growth & trend
Revenue growth (YoY)
This year $739K · Prior year $800
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $513K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $739K · Expenses $259K
+65%
Liabilities-to-Assets
Total liabilities — · Total assets $514K
Net-asset ratio
Net assets $513K · Total assets $514K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $514K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Erika Smith · Reported title Executive Director · Highest reported compensation $84K · Total expenses $259K
33%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $91K · Total expenses $259K
35%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 77%
Overhead ratio 20%
Fundraising cost ratio 2%
Revenue growth ×924
Accounting fee ratio 1%

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$166K

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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)$558K revenue · ⤓ 990 PDF
FY2023$739K revenue · viewing · ⤓ 990 PDF
FY2022not on file
FY2021$800 revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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