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Nonprofiteer
← LANTERN ORGANIZATION INC

Form 990 for tax year 2022

Filed by LANTERN ORGANIZATION INC.

Totals

Total revenue
$14,682,075
Total expenses
$5,962,360
Contributions and grants received
$13,520,179
Grants paid
$0
Program service revenue
$1,161,896
Investment income
$0
Other revenue
$0
Total assets, end of year
$40,301,929
Total liabilities, end of year
$9,360,937
Net assets or fund balances, end of year
$30,940,992
Program services expenses (Part IX)
$5,655,121
Management and general expenses
$307,239
Fundraising expenses
$0
Program service expenses (Part III)
$5,655,121

Program services were 94.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $5,195,071

  • 1f · All other contributions, gifts and grants

    $8,325,108

  • 2a · Program service revenue: INTEREST HOUSING LOANS

    total $727,417 · related or exempt $727,417

  • 2b · Program service revenue: DEVELOPMENT FEE INCOME

    total $181,251 · related or exempt $181,251

  • 2c · Program service revenue: RENTAL INCOME

    total $159,856 · related or exempt $159,856

  • 2d · Program service revenue: DEVELOPER FEE

    total $56,172 · related or exempt $56,172

  • 2e · Program service revenue: MANAGEMENT FEE INCOME

    total $37,200 · related or exempt $37,200

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $184,615 · management and general $184,615

  • 11b · Fees: legal

    total $12,387 · management and general $12,387

  • 11c · Fees: accounting

    total $64,601 · management and general $64,601

  • 11g · Fees: other

    total $2,304 · management and general $2,304

  • 22 · Depreciation, depletion and amortization

    total $43,179 · program services $43,179

  • 24a · Other expenses: RENT EXPENSE

    total $5,195,071 · program services $5,195,071

  • 24b · Other expenses: DONATIONS

    total $216,511 · program services $216,511

  • 24c · Other expenses: UTILITIES

    total $88,088 · program services $88,088

  • 24d · Other expenses: INSURANCE

    total $72,655 · program services $72,655

  • 24e · All other expenses

    total $82,949 · program services $39,617 · management and general $43,332

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,341,257 · end of year $1,835,880

  • 2 · Savings and temporary cash investments

    beginning of year $3,145 · end of year $5,134

  • 4 · Accounts receivable

    end of year $767,703

  • 7 · Other notes and loans receivable

    beginning of year $26,650,661 · end of year $26,655,799

  • 9 · Prepaid expenses and deferred charges

    end of year $5,667

  • 10a · Land, buildings and equipment: cost or other basis

    $2,482,371

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,340,854

  • 10c · Land, buildings and equipment, net

    end of year $1,141,517

  • 14 · Intangible assets

    end of year $7,512,698

  • 15 · Other assets

    end of year $2,377,531

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,443 · end of year $247,706

  • 23 · Secured mortgages and notes payable

    beginning of year $4,823,165 · end of year $6,903,035

  • 25 · Other liabilities

    end of year $2,210,196

  • 27 · Net assets without donor restrictions

    beginning of year $23,149,455 · end of year $30,940,992

Mission and programs · 2022

Mission

DEVELOP HOUSING FOR PEOPLE WITH SPECIAL NEEDS.

  • THE ORGANIZATION SPONSORED AND PROVIDED TECHNICAL ASSISTANCE AND SUPERVISION TO LOW AND MODERATE INCOME HOUSING PROJECTS, INCLUDING SUPPORTIVE HOUSING FOR SPECIAL NEEDS POPULATIONS. SERVICES PROVIDED BY THE ORGANIZATION INCLUDE LOCATING SITES, FEASIBILITY ANALYSIS, IDENTIFYING AND SECURING SUBSIDIES, IDENTIFYING AND COORDINATING DEVELOPMENT TEAM MEMBERS AND SUPERVISING THE MANAGEMENT AND OPERATION OF THE SERVICES AT COMPLETED SITES.

    Expenses $5,655,121 · Revenue $1,161,896

As filed on the 2022 return.

Listed in Part VII

  • DANIEL KENT

    PRESIDENT

    Total calculated
    $184,615
    From this org
    $184,615
    From related orgs
    $0
    Other
    $0
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $184,615
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $184,615

  • CHRISTOPHER BENSON

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT CHERVENAK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SEBASTIAN PALMER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NATHANIEL WICE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RAFAL MARKWAT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JULIUS LAMAR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JONATHAN MADDISON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBIN D'SOUZA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2022
Filed
3 November 2023
IRS schema version
2022v5.0
Source object
202333079349302708

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