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Nonprofiteer
← LANE TECH ALUMNI ASSOCIATION INC

Form 990 for tax year 2022

Filed by LANE TECH ALUMNI ASSOCIATION INC.

Totals

Total revenue
$374,877
Total expenses
$325,019
Contributions and grants received
$303,712
Grants paid
$160,214
Program service revenue
$13,183
Investment income
$37,006
Other revenue
$20,976
Total assets, end of year
$961,002
Total liabilities, end of year
$116,503
Net assets or fund balances, end of year
$844,499
Program services expenses (Part IX)
$248,289
Management and general expenses
$60,013
Fundraising expenses
$16,717
Program service expenses (Part III)
$248,289

Program services were 76.4% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $23,970

  • 1c · Fundraising events

    $3,620

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $276,122

  • 1g · Noncash contributions included above

    $100

  • 2a · Program service revenue: Member Events

    total $13,183 · related or exempt $13,183 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $37,006 · related or exempt $37,006 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: gross income

    $23,010

  • 8a · Fundraising events: contributions included on line 1c

    $3,620

  • 8b · Fundraising events: direct expenses

    $9,450

  • 8c · Net income from fundraising events

    total $13,560 · unrelated business $0 · excluded $13,560

  • 10a · Gross sales of inventory

    $7,418

  • 10b · Cost of goods sold

    $4,785

  • 10c · Net income from sales of inventory

    total $2,633 · related or exempt $2,633 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $4,783 · related or exempt $0 · unrelated business $0 · excluded $4,783

  • 11e · Other revenue, total

    $4,783

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,214 · program services $25,214

  • 2 · Grants to domestic individuals

    total $135,000 · program services $135,000

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 6 · Compensation of disqualified persons

    total $79,248 · program services $37,094 · management and general $34,315 · fundraising $7,839

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $5,900 · program services $2,675 · management and general $2,625 · fundraising $600

  • 11c · Fees: accounting

    total $10,599 · program services $0 · management and general $10,599 · fundraising $0

  • 11f · Fees: investment management

    total $200 · program services $50 · management and general $150 · fundraising $0

  • 13 · Office expenses

    total $16,595 · program services $10,913 · management and general $5,175 · fundraising $507

  • 14 · Information technology

    total $5,185 · program services $2,252 · management and general $1,588 · fundraising $1,345

  • 16 · Occupancy

    total $15,896 · program services $7,948 · management and general $3,179 · fundraising $4,769

  • 19 · Conferences, conventions and meetings

    total $1,926 · program services $33 · management and general $1,507 · fundraising $386

  • 23 · Insurance

    total $4,240 · program services $2,120 · management and general $849 · fundraising $1,271

  • 24a · Other expenses: Member Events and Services

    total $25,016 · program services $24,990 · management and general $26 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $199,032 · end of year $44,986

  • 2 · Savings and temporary cash investments

    beginning of year $619,872 · end of year $880,338

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $20,000

  • 4 · Accounts receivable

    beginning of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $3,123 · end of year $4,046

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,244 · end of year $2,058

  • 11 · Investments: publicly traded securities

    beginning of year $76,065

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $9,574

  • 17 · Accounts payable and accrued expenses

    beginning of year $86 · end of year $2,472

  • 19 · Deferred revenue

    beginning of year $106,780 · end of year $114,031

  • 20 · Tax-exempt bond liabilities

    beginning of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $534,081 · end of year $569,242

  • 28 · Net assets with donor restrictions

    beginning of year $259,389 · end of year $275,257

Mission and programs · 2022

Mission

To champion the life-long relationship of Lane Tech graduates to their alma mater, to one another, and to the greater community of Lane Tech. The Lane Tech Alumni Association will set the gold standard for a dynamic, intergenerational alumni organization affiliated with an urban, public high school. The Lane Tech Alumni Association provides exceptional member services and impactful philanthropic programs that create meaningful connections, celebrate the school's history and culture, and support life-long learning.

Activities or mission (Part I)

To champion the life-long relationship of Lane Tech graduates to their alma mater, to one another, and to the greater community of Lane Tech.

  • In year thirty-seven, the LTAA Scholarship Program remains the cornerstone philanthropic initiative for the LTAA with a cumulative total of more than 2.8 million dollars administered over the lifespan of the program. In FY2022/23, thirty-three graduating seniors received scholarships ranging from $1,000 to $10,000, setting them on a path for success for at least their freshman year, and in some cases, for four years. 36% of the students at Lane Tech are from low or moderately low-income families. Many are from immigrant families, single parent homes, first generation college-bound, and all have some level of financial need, still compounded by COVID-related economic stressors. LTAA scholarships provide "last mile" financing so that the high-potential students of Lane can attend their best-fit institutions. The LTAA solicits scholarship donors, designs and administers the programs, distributes funds, and documents the results.

    Expenses $136,614 · Grants $135,000 · Revenue $155,587

  • The LTAA Teacher Innovation Grant Program was established in 2010 to offset system-wide budget deficiencies and promote a best-in-class curriculum. The cumulative total of innovation awards has exceeded $308,000 since the program's inception. Grants were a key part of re-invigorating in-person learning and provided everything from robot parts to student participation in a Model UN Conference. These grants touch virtually every one of the more than 4,500 students at Lane and enable the faculty and staff to offer more programs and extracurricular activities than any other CPS high school. The Grant Program is a critical component of a holistic approach in support of the students of Lane Tech through educational enhancements, college-readiness, and access to higher education.

    Expenses $23,758 · Grants $23,758 · Revenue $19,786

  • Connecting people and community-building is a primary focus of the LTAA. Constituent groups include over 9,000 alumni, 4500 students and 350 faculty and staff, as well as affinity groups, neighbors and friends. The LTAA publishes a biannual magazine that reaches more than 4,000 readers, and a digital newsletter two times per month. The LTAA engages various social media platforms with a combined 20,000 followers, and tracks hundreds of thousands of impressions. COVID-19 resulted in an even greater reliance on technology to bring constituents together via virtual events, and once permittable, monthly live events were offered to alumni in response to the isolation of the previous years.

    Expenses $87,917 · Revenue $58,039

As filed on the 2022 return.

Listed in Part VII

  • Michelle Weiner

    Executive Director

    Total calculated
    $24,501
    From this org
    $24,501
    From related orgs
    $0
    Other
    $0
    Hours/week
    32

  • Jim Ascot

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Deidre Baumann

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Stuart Eng

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Fred Glure

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Paul Gonley

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jim Guerin

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Cory Gunderson

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Leslie Jackson

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Luis Jimenez

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Kim Kidd

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Joe Lawniczak

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Avrom Litin

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jon Masunaga

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Tod McElhaney

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Marie McJilton

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Kevin Sheldon

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Marion Synowiec

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Herbert Berg

    President

    Total calculated
    $0
    Hours/week
    2

  • Melissa Reardon Henry

    Vice President

    Total calculated
    $0
    Hours/week
    2

  • Joanna Perez

    Secretary

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
30 May 2024
IRS schema version
2022v5.0
Source object
202431529349300438

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