Civic Intelligence

Lantern Light Inc

990 • Fiscal year 2021 • EIN 20-4769645

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 24, 2023

Organization ProfileLANTERNLIGHT.ORG
1802 Tulane AvenueNew Orleans, LA 70112

(504) 273-5573

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.00x

Higher debt load relative to assets than 22% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

15th percentile

-11%

Higher net margin than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

55th percentile

$68,000

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 30.4% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

13th percentile

-4.8%

Faster asset growth than 13% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

13th percentile

-21%

Faster revenue growth than 13% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Down

$1,525,492

Down $76,950 (-4.8%) from 2020

Net Assets

Down

$1,522,729

Down $52,725 (-3.3%) from 2020

Liabilities

Down

$2,763

Down $24,225 (-90%) from 2020

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin15th percentile

Revenue

Down

$223,406

Down $59,613 (-21%) from 2020

Expenses

Down

$247,658

Down $4,073 (-1.6%) from 2020

Net Income

Down

-$24,252

Down $55,540 (-178%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$3.0M$2.0M$1.0M$0Assets 2015: $1,614,741Liabilities 2015: $2,830Net Assets 2015: $1,611,9112015Assets 2016: $2,036,714Liabilities 2016: $403,326Net Assets 2016: $1,633,3882016Assets 2017: $1,582,732Liabilities 2017: $3,805Net Assets 2017: $1,578,9272017Assets 2019: $1,528,749Liabilities 2019: $1,000Net Assets 2019: $1,527,7492019Assets 2020: $1,602,442Liabilities 2020: $26,988Net Assets 2020: $1,575,4542020Assets 2021: $1,525,492Liabilities 2021: $2,763Net Assets 2021: $1,522,7292021Assets 2022: $1,396,855Liabilities 2022: $1,610Net Assets 2022: $1,395,2452022Assets 2023: $1,287,487Liabilities 2023: $1,400Net Assets 2023: $1,286,0872023Assets 2024: $1,180,379Liabilities 2024: $1,999Net Assets 2024: $1,178,3802024

Highlighted filing

2021

Assets$1,525,492
Liabilities$2,763
Net Assets$1,522,729
Open 2021 Filing

Operations Trend

Revenue Growth13th percentile

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

$400K$200K$0-$200KRevenue 2015: $292,065Expenses 2015: $225,728Net Income 2015: $66,3372015Revenue 2016: $330,504Expenses 2016: $269,630Net Income 2016: $60,8742016Revenue 2017: $218,671Expenses 2017: $273,132Net Income 2017: -$54,4612017Revenue 2019: $250,618Expenses 2019: $278,725Net Income 2019: -$28,1072019Revenue 2020: $283,019Expenses 2020: $251,731Net Income 2020: $31,2882020Revenue 2021: $223,406Expenses 2021: $247,658Net Income 2021: -$24,2522021Revenue 2022: $242,158Expenses 2022: $294,995Net Income 2022: -$52,8372022Revenue 2023: $211,657Expenses 2023: $315,181Net Income 2023: -$103,5242023Revenue 2024: $194,804Expenses 2024: $325,862Net Income 2024: -$131,0582024

Highlighted filing

2021

Revenue$223,406
Expenses$247,658
Net Income-$24,252
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 24, 2023
Return Version
2021v4.0
Gross Receipts
$223,406
Mission and Program Overview

Mission

Providing a place of peace, support, and encouragement to the working poor and homeless, in downtown new orleans as they rebuild their lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,469,990$1,471,459▲ $1,469
Cash and Non-Interest-Bearing Accounts$106,963$54,033▼ $52,930
Savings and Temporary Cash Investments$25,489--
Total Assets$1,602,442$1,525,492▼ $76,950
Liabilities
Unsecured Notes Loans Payable$25,490--
Accounts Payable and Accrued Expenses$1,498$2,763▲ $1,265
Total Liabilities$26,988$2,763▼ $24,225
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,575,454$1,522,729▼ $52,725
Total Net Assets Fund Balance$1,575,454$1,522,729▼ $52,725
Total Liabilities and Net Assets / Fund Balance$1,602,442$1,525,492▼ $76,950

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$15,915$15,915
Other Land Buildings-$4,589$4,589
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kenitha Grooms-williamsExecutive DiFT$68,000$68,000

Board Members and Trustees

NameTitle
Regina MolonyChair
Eleanora Bazile BrooksVice Chair/s
David HardinBoard Member
Ed WallaceBoard Member
Elaine BergeronBoard Member
Hunter HarrisBoard Member
Mary Lou SpechaBoard Member
Steve SabrierBoard Member
Steve OrkusTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$158,711
Program Service Revenue
$1,135
Investment Income
$35,767
Other Revenue
$27,793
All Other Contributions
$139,816
Change in Net Assets
$-24,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$147,053
Other Expenses$69,529
Grants and Similar Amounts Paid$31,076
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$132,532--$132,532
Grants to Domestic Individuals$31,076--$31,076
Occupancy$17,892$5,964-$23,856
Payroll Taxes$12,521--$12,521
Insurance-$9,322-$9,322
Fees for Service Investment Mgmnt Fees-$6,667-$6,667
Information Technology-$5,503-$5,503
Fees for Services Accounting-$5,000-$5,000
Office Expenses-$3,087-$3,087
Pension Plan Contributions$2,000--$2,000
Other Expenses$1,372$444-$1,816
All Other Expenses$1,075--$1,075
Total Functional Expenses$209,804$37,854$0$247,658
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
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The 990 is provided to management and the board for review and approval before being submitted to the irs.”

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

“Board of directors determine compensation of the executive director based on similar compensation of similar non-profit organizations in the new orleans area.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Lantern Light Inc
EIN
20-4769645
Phone
5042735573
Address
1802 TULANE AVENUE, NEW ORLEANS, LA 70112

Signing Officer

Name
Regina Molony
Title
Chair
Phone
5042735573
Signed
2023-07-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Regina Molony
Formed
2006
Legal Domicile
La
Voting Board Members
10
Independent Board Members
9
Employees
4

Preparer

Firm
Sean Bruno Cpas
Address
6100 ELYSIAN FIELDS AVE STE 200, NEW ORLEANS, LA 70122-4210
Preparer
Sheldon M Bruno
Phone
5042413411
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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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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt015915
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04589
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt04589
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PROVIDED TO MANAGEMENT AND THE BOARD FOR REVIEW AND APPROVAL BEFORE BEING SUBMITTED TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OF DIRECTORS DETERMINE COMPENSATION OF THE EXECUTIVE DIRECTOR BASED ON SIMILAR COMPENSATION OF SIMILAR NON-PROFIT ORGANIZATIONS IN THE NEW ORLEANS AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0209804
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IRS990/WhistleblowerPolicyInd0true
ReasonableCauseExplanation/ExplanationTxt0OUR PRIMARY PURPOSE IS TO HELP THE HOMELESS AND LOW INCOME RESIDENTS OF NEW ORLEANS AND SURROUNDING AREAS. OUR FACILITY HAD AN OUTBREAK OF COVID-19 AND WE WERE FORCED TO QUARANTINE AND DURING THAT TIME WE LOST A FEW BOARD MEMBERS AND SUBMITTING OF THE FORM 990 FELL BETWEEN THE CRACKS. WE DID NOT REALIZE THAT THE FORM 990 WAS NOT SUBMITTED UNTIL WE RECEIVED THE IRS NOTICE DATED JULY 17, 2023. IF YOU LOOK AT PAST FILING HISTORY YOU FIND TIMELY FILED EXTENSIONS AND FORM 990, AS WELL THE CURRECT DECEMBER 31, 2022 FORM ALREADY FILED. WE UNDERSTAND THAT PENALTIES WILL BE ASSESSED FOR LATE SUBMISSION, HOWEVER HAVING TO PAY SUCH AN AMOUNT WOULD PUT OUR ORGANIZATION IN A HARDSHIP THAT WOULD CAUSE US TO LIMIT THE SERVICES WE PROVIDE. WE RESPECTFULLY ASK FOR THE ABATEMENT OF ALL PENALTIES DUE TO THE LATE SUBMISSION.
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REGINA MOLONY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum05042735573
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LANTERN LIGHT INC
ReturnHeader/Filer/BusinessNameControlTxt0LANT
ReturnHeader/Filer/EIN0204769645
ReturnHeader/Filer/PhoneNum05042735573
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ReturnHeader/Filer/USAddress/CityNm0NEW ORLEANS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264006936
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SEAN BRUNO CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06100 ELYSIAN FIELDS AVE STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW ORLEANS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0701224210
ReturnHeader/PreparerPersonGrp/PhoneNum05042413411
ReturnHeader/PreparerPersonGrp/PreparationDt02023-07-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHELDON M BRUNO
ReturnHeader/ReturnTs02023-07-24T09:45:35-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0REGINA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MOLONY
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,525,492
Liabilities
$2,763
Net assets
$1,522,729
Revenue
$223,406
Expenses
$247,658
Net income
-$24,252
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.18$0.00$1.18$0.19$0.33$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.21$0.32$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.40$0.00$1.40$0.24$0.29$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.52$0.22$0.25$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.60$0.03$1.58$0.28$0.25$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.53$0.25$0.28$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.58$0.00$1.58$0.22$0.27$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.04$0.40$1.63$0.33$0.27$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.61$0.00$1.61$0.29$0.23$0.07