Civic Intelligence

Lantern Organization Inc.

990 • Fiscal year 2021 • EIN 13-3960661

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 05, 2022

Organization ProfileLANTERNCOMMUNITY.ORG

View Organization Page

42 W 39th Street 14th FloorNew York, NY 10018

(212) 292-8400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

46th percentile

0.17x

Higher debt load relative to assets than 46% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

94th percentile

4.69x

Higher debt load relative to revenue than 94% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

7th percentile

-23%

Higher net margin than 7% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

24th percentile

$155,140

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

26th percentile

2.1%

Faster asset growth than 26% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

37th percentile

4.8%

Faster revenue growth than 37% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$27,995,063

Up $563,316 (+2.1%) from 2020

Net Assets

Down

$23,149,455

Down $222,266 (-1.0%) from 2020

Liabilities

Up

$4,845,608

Up $785,582 (+19%) from 2020

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin7th percentile

Revenue

Up

$1,032,369

Up $47,582 (+4.8%) from 2020

Expenses

Up

$1,270,635

Up $1,104,961 (+667%) from 2020

Net Income

Down

-$238,266

Down $1,057,379 (-129%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $13,577,567Liabilities 2011: $4,030,950Net Assets 2011: $9,546,6172011Assets 2012: $14,849,161Liabilities 2012: $4,219,758Net Assets 2012: $10,629,4032012Assets 2013: $11,389,363Liabilities 2013: $631,801Net Assets 2013: $10,757,5622013Assets 2014: $10,964,043Liabilities 2014: $83,206Net Assets 2014: $10,880,8372014Assets 2015: $10,921,158Liabilities 2015: $29,946Net Assets 2015: $10,891,2122015Assets 2016: $11,301,222Liabilities 2016: $155,221Net Assets 2016: $11,146,0012016Assets 2017: $23,501,354Liabilities 2017: $4,172,462Net Assets 2017: $19,328,8922017Assets 2018: $27,910,631Liabilities 2018: $8,412,945Net Assets 2018: $19,497,6862018Assets 2019: $33,079,496Liabilities 2019: $10,526,888Net Assets 2019: $22,552,6082019Assets 2020: $27,431,747Liabilities 2020: $4,060,026Net Assets 2020: $23,371,7212020Assets 2021: $27,995,063Liabilities 2021: $4,845,608Net Assets 2021: $23,149,4552021Assets 2022: $40,301,929Liabilities 2022: $9,360,937Net Assets 2022: $30,940,9922022Assets 2023: $54,988,060Liabilities 2023: $23,063,328Net Assets 2023: $31,924,7322023Assets 2024: $57,031,398Liabilities 2024: $23,224,031Net Assets 2024: $33,807,3672024

Highlighted filing

2021

Assets$27,995,063
Liabilities$4,845,608
Net Assets$23,149,455
Open 2021 Filing

Operations Trend

Revenue Growth37th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MExpenses 2011: $633,2272011Expenses 2012: $648,4152012Revenue 2013: $689,394Expenses 2013: $561,235Net Income 2013: $128,1592013Revenue 2014: $663,345Expenses 2014: $540,070Net Income 2014: $123,2752014Revenue 2015: $222,875Expenses 2015: $212,500Net Income 2015: $10,3752015Revenue 2016: $593,900Expenses 2016: $339,111Net Income 2016: $254,7892016Revenue 2017: $1,002,877Expenses 2017: $778,888Net Income 2017: $223,9892017Revenue 2018: $568,667Expenses 2018: $399,873Net Income 2018: $168,7942018Revenue 2019: $1,245,078Expenses 2019: $401,156Net Income 2019: $843,9222019Revenue 2020: $984,787Expenses 2020: $165,674Net Income 2020: $819,1132020Revenue 2021: $1,032,369Expenses 2021: $1,270,635Net Income 2021: -$238,2662021Revenue 2022: $14,682,075Expenses 2022: $5,962,360Net Income 2022: $8,719,7152022Revenue 2023: $17,036,290Expenses 2023: $16,052,550Net Income 2023: $983,7402023Revenue 2024: $20,764,803Expenses 2024: $18,508,922Net Income 2024: $2,255,8812024

Highlighted filing

2021

Revenue$1,032,369
Expenses$1,270,635
Net Income-$238,266
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 5, 2022
Return Version
2021v4.0
Gross Receipts
$1,032,369
Mission and Program Overview

Mission

Develop housing for people with special needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$25,626,551$26,650,661▲ $1,024,110
Cash and Non-Interest-Bearing Accounts$1,771,753$1,341,257▼ $430,496
Land, Buildings, and Equipment, Net$30,000--
Savings and Temporary Cash Investments$3,443$3,145▼ $298
Total Assets$27,431,747$27,995,063▲ $563,316
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,030,698$4,823,165▲ $792,467
Accounts Payable and Accrued Expenses$13,328$22,443▲ $9,115
Total Liabilities$4,044,026$4,845,608▲ $801,582
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,387,721$23,149,455▼ $238,266
Total Net Assets Fund Balance$23,387,721$23,149,455▼ $238,266
Total Liabilities and Net Assets / Fund Balance$27,431,747$27,995,063▲ $563,316

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$326,590$326,590
Compensation and Service Providers
Top Officer Pay24th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel KentPresidentFT$150,000$5,140$155,140

Board Members and Trustees

NameTitle
Craig HarwoodBoard Member
Jonathan MaddisonBoard Member
Julius LamarBoard Member
Nathaniel WiceBoard Member
ROBIN D'SOUZABoard Member
Rafal MarkwatBoard Member
Robert ChervenakBoard Member
Christopher BensonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000
Program Service Revenue
$1,031,369
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,000
Change in Net Assets
$-238,266

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,032,369
Total Revenue per Audited Statements
$1,032,369
Total Revenue per Form 990
$1,032,369
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,120,635
Salaries, Compensation, and Employee Benefits$150,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$150,000--$150,000
Fees for Services Accounting-$31,750-$31,750
Depreciation Depletion$30,000--$30,000
Other Expenses$11,539$231,825-$11,539
Fees for Services Legal-$10,351-$10,351
All Other Expenses$7,958$330-$8,288
Fees for Services Other-$775-$775
Total Functional Expenses$995,604$275,031$0$1,270,635

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,270,635
Total Expenses per Audited Statements$1,270,635
Total Expenses per Form 990$1,270,635
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The completed 990 is submitted first to the audit committee for review. Once reviewed and approved by the audit committee, the 990 is circulated to the full board before it is filed with the irs.”

Form 990, Page 6, Part VI, Line 12C

“The board members review the policy annually and reports any conflicts.”

Form 990, Page 6, Part VI, Line 15A

“The board reviews and approves the compensation of the officer.”

Form 990, Page 6, Part VI, Line 15B

“Every year the board reviews and approves the compensation of several key employees.”

Form 990, Page 6, Part VI, Line 19

“Latern makes it's 990 available to the public through the nys attorney general's website and upon written request. Latern's governing documents, conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Lantern Organization Inc
EIN
13-3960661
Phone
2122928400
Address
42 W 39TH STREET 14TH FLOOR, NEW YORK, NY 10018

Signing Officer

Name
Daniel Kent
Title
President
Phone
2122928400
Signed
2022-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Kent
Formed
1997
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Geltrude & Company LLC
Address
513 FRANKLIN AVE, NUTLEY, NJ 07110-1746
Preparer
Michael W Carlon
Phone
9736679100
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COMPLETED 990 IS SUBMITTED FIRST TO THE AUDIT COMMITTEE FOR REVIEW. ONCE REVIEWED AND APPROVED BY THE AUDIT COMMITTEE, THE 990 IS CIRCULATED TO THE FULL BOARD BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEMBERS REVIEW THE POLICY ANNUALLY AND REPORTS ANY CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS AND APPROVES THE COMPENSATION OF THE OFFICER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EVERY YEAR THE BOARD REVIEWS AND APPROVES THE COMPENSATION OF SEVERAL KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LATERN MAKES IT'S 990 AVAILABLE TO THE PUBLIC THROUGH THE NYS ATTORNEY GENERAL'S WEBSITE AND UPON WRITTEN REQUEST. LATERN'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd4NY
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd6NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd7NY
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd10NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd11NY
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0RENTAL RE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1RENTAL RE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt2RENTAL RE

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,995,063
Liabilities
$4,845,608
Net assets
$23,149,455
Revenue
$1,032,369
Expenses
$1,270,635
Net income
-$238,266
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$57.0$23.2$33.8$20.8$18.5$2.26
2023Detailed filing. Detailed filing data is available for this year.$55.0$23.1$31.9$17.0$16.1$0.98
2022Detailed filing. Detailed filing data is available for this year.$40.3$9.36$30.9$14.7$5.96$8.72
2021Detailed filing. Detailed filing data is available for this year.$28.0$4.85$23.1$1.03$1.27$0.24
2020Detailed filing. Detailed filing data is available for this year.$27.4$4.06$23.4$0.98$0.17$0.82
2019Detailed filing. Detailed filing data is available for this year.$33.1$10.5$22.6$1.25$0.40$0.84
2018Detailed filing. Detailed filing data is available for this year.$27.9$8.41$19.5$0.57$0.40$0.17
2017Detailed filing. Detailed filing data is available for this year.$23.5$4.17$19.3$1.00$0.78$0.22
2016Detailed filing. Detailed filing data is available for this year.$11.3$0.16$11.1$0.59$0.34$0.25
2015Detailed filing. Detailed filing data is available for this year.$10.9$0.03$10.9$0.22$0.21$0.01
2014Detailed filing. Detailed filing data is available for this year.$11.0$0.08$10.9$0.66$0.54$0.12
2013Detailed filing. Detailed filing data is available for this year.$11.4$0.63$10.8$0.69$0.56$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$4.22$10.6$0.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$4.03$9.55$0.63