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Nonprofiteer
← LANE TECH ALUMNI ASSOCIATION INC

Form 990 for tax year 2024

Filed by LANE TECH ALUMNI ASSOCIATION INC.

Totals

Total revenue
$452,743
Total expenses
$421,012
Contributions and grants received
$408,061
Grants paid
$247,915
Program service revenue
$0
Investment income
$40,822
Other revenue
$3,860
Total assets, end of year
$993,464
Total liabilities, end of year
$117,557
Net assets or fund balances, end of year
$875,907
Program services expenses (Part IX)
$333,271
Management and general expenses
$76,081
Fundraising expenses
$11,660
Program service expenses (Part III)
$333,271

Program services were 79.2% 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.

  • 1b · Membership dues

    $26,773

  • 1c · Fundraising events

    $23,432

  • 1f · All other contributions, gifts and grants

    $357,856

  • 1g · Noncash contributions included above

    $17,712

  • 3 · Investment income

    total $40,822 · excluded $40,822

  • 8a · Fundraising events: gross income

    $18,390

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

    $23,432

  • 8b · Fundraising events: direct expenses

    $21,684

  • 8c · Net income from fundraising events

    total -$3,294 · excluded -$3,294

  • 10a · Gross sales of inventory

    $10,528

  • 10b · Cost of goods sold

    $5,572

  • 10c · Net income from sales of inventory

    total $4,956 · related or exempt $4,956

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $2,198 · related or exempt $2,198

  • 11e · Other revenue, total

    $2,198

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $51,330 · program services $51,330

  • 2 · Grants to domestic individuals

    total $196,585 · program services $196,585

  • 7 · Other salaries and wages

    total $76,563 · program services $41,983 · management and general $26,892 · fundraising $7,688

  • 10 · Payroll taxes

    total $5,880 · program services $3,235 · management and general $2,057 · fundraising $588

  • 11g · Fees: other

    total $24,888 · management and general $24,888

  • 13 · Office expenses

    total $2,802 · program services $428 · management and general $2,211 · fundraising $163

  • 16 · Occupancy

    total $12,649 · program services $6,957 · management and general $4,427 · fundraising $1,265

  • 19 · Conferences, conventions and meetings

    total $1,676 · management and general $1,233 · fundraising $443

  • 23 · Insurance

    total $3,755 · management and general $3,755

  • 24a · Other expenses: MEMBER EVENTS AND SERVI

    total $20,668 · program services $20,131 · management and general $537

  • 24b · Other expenses: PRINTING AND POSTAGE

    total $12,366 · program services $8,482 · management and general $3,123 · fundraising $761

  • 24c · Other expenses: COMPUTER EXPENSES

    total $5,408 · program services $2,752 · management and general $2,156 · fundraising $500

  • 24d · Other expenses: BANK AND CREDIT CARD FE

    total $3,396 · management and general $3,396

  • 24e · All other expenses

    total $3,046 · program services $1,388 · management and general $1,406 · fundraising $252

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $40,390 · end of year $57,641

  • 2 · Savings and temporary cash investments

    beginning of year $315,177 · end of year $699,027

  • 8 · Inventories for sale or use

    beginning of year $2,378 · end of year $3,493

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,313 · end of year $2,804

  • 11 · Investments: publicly traded securities

    beginning of year $582,726 · end of year $225,140

  • 15 · Other assets

    beginning of year $10,737 · end of year $5,359

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,789 · end of year $5,894

  • 19 · Deferred revenue

    beginning of year $112,020 · end of year $111,663

  • 27 · Net assets without donor restrictions

    beginning of year $560,708 · end of year $625,557

  • 28 · Net assets with donor restrictions

    beginning of year $276,204 · end of year $250,350

Mission and programs · 2024

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 AFFILATED WITH AN URBAN, PUBLIC HIGH SCHOOL, THE LANE TECH ALUMNI ASSOCIATION PROVIDESEXCEPTIONAL 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.

  • FOR THIRTY-NINE YEARS, THE LTAA SCHOLARSHIP PROGRAM HAS REMAINED THE HALLMARK PHILANTHROPIC INITIATIVE FOR THE LTAA WITH A CUMULATIVE TOTAL OF MORE THAN 3.4 MILLION DOLLARS ADMINISTERED OVER THE LIFESPAN OF THE PROGRAM. IN FY25, THIRTY-NINE 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 $196,585 · Grants $196,585 · Revenue $7,154

  • THE LTAA FACULTY INNOVATION GRANT PROGRAM WAS ESTABLISHED IN 2010 TO OFFSET SYSTEM-WIDE BUDGET DEFICIENCIES AND PROMOTE A BEST-IN-CLASS CURRICULUM. THESE GRANTS HELP ELEVATE THE RIGOR AND CALIBER OF LEARNING AT LANE AND HAVE SUPPORTED A VARIETY OF ACTIVITIES FROM SPECIAL EQUIPMENT TO IMMERSIVE EXPERIENCES. 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 $51,330 · Grants $51,330

  • CONNECTING PEOPLE AND COMMUNITY-BUILDING IS A PRIMARY FOCUS OF THE LTAA. CONSTITUENT GROUPS INCLUDE OVER 9,000 ALUMNI, 4,500 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, THE LTAA CONTINUES TO RELY ON TECHNOLOGY TO BRING CONSTITUENTS TOGETHER VIA VIRTUAL EVENTS, AND MANAGES A PORTFOLIO OF IN-PERSON EVENTS IN CHICAGO AND BEYOND.

    Expenses $85,356

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Deidre Baumann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Herb Berg

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Robert Blassick

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Ray Giese

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Scott Girard

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cory Gunderson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Luis Jimenez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joe Lawniczak

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Anne Lee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Tod McElhaney

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joanna Perez

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Melissa Reardon Henry

    BOARD VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Julie Sulzen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Marion Synowiec

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Brenda Trocio

    BOARD MEMBER

    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
2024
Filed
6 April 2026
IRS schema version
2024v5.5
Source object
202610969349300316

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