Civic Intelligence

Lantern Organization Inc.

990 • Fiscal year 2022 • EIN 13-3960661

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 03, 2023

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

52nd percentile

0.23x

Higher debt load relative to assets than 52% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

69th percentile

0.64x

Higher debt load relative to revenue than 69% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

92nd percentile

59%

Higher net margin than 92% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

31st percentile

$184,615

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

91st percentile

44%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

99th percentile

1322%

Faster revenue growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$40,301,929

Up $12,306,866 (+44%) from 2021

Net Assets

Up

$30,940,992

Up $7,791,537 (+34%) from 2021

Liabilities

Up

$9,360,937

Up $4,515,329 (+93%) from 2021

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin92nd percentile

Revenue

Up

$14,682,075

Up $13,649,706 (+1322%) from 2021

Expenses

Up

$5,962,360

Up $4,691,725 (+369%) from 2021

Net Income

Up

$8,719,715

Up $8,957,981 (+3760%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st 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

2022

Assets$40,301,929
Liabilities$9,360,937
Net Assets$30,940,992
Open 2022 Filing

Operations Trend

Revenue Growth99th 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

2022

Revenue$14,682,075
Expenses$5,962,360
Net Income$8,719,715
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 3, 2023
Return Version
2022v5.0
Gross Receipts
$14,682,075
Mission and Program Overview

Mission

Develop housing for people with special needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$26,650,661$26,655,799▲ $5,138
Intangible Assets-$7,512,698-
Cash and Non-Interest-Bearing Accounts$1,341,257$1,835,880▲ $494,623
Land, Buildings, and Equipment, Net-$1,141,517-
Accounts Receivable-$767,703-
Prepaid Expenses and Deferred Charges-$5,667-
Savings and Temporary Cash Investments$3,145$5,134▲ $1,989
Total Assets$27,995,063$40,301,929▲ $12,306,866
Other Assets Total-$2,377,531-
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,823,165$6,903,035▲ $2,079,870
Other Liabilities-$2,210,196-
Accounts Payable and Accrued Expenses$22,443$247,706▲ $225,263
Total Liabilities$4,845,608$9,360,937▲ $4,515,329
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,149,455$30,940,992▲ $7,791,537
Total Net Assets Fund Balance$23,149,455$30,940,992▲ $7,791,537
Total Liabilities and Net Assets / Fund Balance$27,995,063$40,301,929▲ $12,306,866

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$441,517$745,900$1,187,417
Land$700,000-$700,000
Other Land Buildings$594,954-$594,954
Leasehold Improvements$-594,954$594,954-
Other Assets Org$72,310--
Compensation and Service Providers
Top Officer Pay31st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Daniel KentPresidentFT$184,615$184,615

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$13,520,179
Program Service Revenue
$1,161,896
Investment Income
$0
Other Revenue
$0
All Other Contributions
$8,325,108
Change in Net Assets
$8,719,715

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,682,075
Total Revenue per Audited Statements
$14,682,075
Total Revenue per Form 990
$14,682,075
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,777,745
Salaries, Compensation, and Employee Benefits$184,615
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$184,615-$184,615
All Other Expenses$39,617$43,332-$82,949
Other Expenses$72,655--$72,655
Fees for Services Accounting-$64,601-$64,601
Depreciation Depletion$43,179--$43,179
Fees for Services Legal-$12,387-$12,387
Fees for Services Other-$2,304-$2,304
Total Functional Expenses$5,655,121$307,239$0$5,962,360

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,962,360
Total Expenses per Audited Statements$5,962,360
Total Expenses per Form 990$5,962,360
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$2,202,196
Security Deposit Payable$8,000
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
2023-11-03
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
1

Preparer

Firm
Geltrude & Company LLC
Address
513 FRANKLIN AVE, NUTLEY, NJ 07110-1746
Preparer
Michael W Carlon
Phone
9736679100
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Prior period adjustment -928,178”

Raw XML AppendixShowing 400 of 817 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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/ExplanationTxt5PRIOR PERIOD ADJUSTMENT -928,178
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN4261249475
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,301,929
Liabilities
$9,360,937
Net assets
$30,940,992
Revenue
$14,682,075
Expenses
$5,962,360
Net income
$8,719,715
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
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