Civic Intelligence

Lantern Network Inc

990 • Fiscal year 2022 • EIN 47-1971599

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

300 Alby StreetAlton, IL 62002

(205) 396-5324

Siviq Scores

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

Liabilities / Assets

68th percentile

0.11x

Higher debt load relative to assets than 68% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

69th percentile

0.11x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

8th percentile

-44%

Higher net margin than 8% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

6th percentile

-32%

Faster asset growth than 6% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

11th percentile

-35%

Faster revenue growth than 11% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$702,543

Down $325,719 (-32%) from 2021

Net Assets

Down

$627,923

Down $269,232 (-30%) from 2021

Liabilities

Down

$74,620

Down $56,487 (-43%) from 2021

Revenue

Down

$653,733

Down $358,887 (-35%) from 2021

Expenses

Up

$944,396

Up $350,398 (+59%) from 2021

Net Income

Down

-$290,663

Down $709,285 (-169%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2018: $259,840Liabilities 2018: $150,831Net Assets 2018: $109,0092018Assets 2019: $532,847Liabilities 2019: $171,471Net Assets 2019: $361,3762019Assets 2020: $605,241Liabilities 2020: $152,958Net Assets 2020: $452,2832020Assets 2021: $1,028,262Liabilities 2021: $131,107Net Assets 2021: $897,1552021Assets 2022: $702,543Liabilities 2022: $74,620Net Assets 2022: $627,9232022Assets 2023: $642,134Liabilities 2023: $166,737Net Assets 2023: $475,3972023Assets 2024: $1,054,662Liabilities 2024: $158,827Net Assets 2024: $895,8352024

Highlighted filing

2022

Assets$702,543
Liabilities$74,620
Net Assets$627,923

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $398,503Expenses 2018: $399,116Net Income 2018: -$6132018Revenue 2019: $702,489Expenses 2019: $452,104Net Income 2019: $250,3852019Revenue 2020: $521,642Expenses 2020: $433,139Net Income 2020: $88,5032020Revenue 2021: $1,012,620Expenses 2021: $593,998Net Income 2021: $418,6222021Revenue 2022: $653,733Expenses 2022: $944,396Net Income 2022: -$290,6632022Revenue 2023: $819,055Expenses 2023: $859,565Net Income 2023: -$40,5102023Revenue 2024: $1,104,338Expenses 2024: $886,814Net Income 2024: $217,5242024

Highlighted filing

2022

Revenue$653,733
Expenses$944,396
Net Income-$290,663
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$832,262
Mission and Program Overview

Mission

To catalyze business and benevolence into a movement to help a depressed city thrive in all aspects of life.

To catalyze business and benovolence into a movement to help a depressed city thrive in all aspects of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$854,650$611,780▼ $242,870
Pd in Cap Srpls Land Bldg Eqp Fund$421,794$421,794→ $0
Rtn Earn Endowment Incm Other Fnds$475,361$206,129▼ $269,232
Cash and Non-Interest-Bearing Accounts$117,921$71,557▼ $46,364
Accounts Receivable$55,691$23,806▼ $31,885
Savings and Temporary Cash Investments$0--
Other Notes and Loans Receivable, Net$0--
Pledges and Grants Receivable$0--
Receivable From Disqualified Prsn$0--
Receivables From Officers Etc$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Inventories for Sale or Use$0--
Loans From Officers Directors$0--
Prepaid Expenses and Deferred Charges$0$-4,600▼ $4,600
Total Assets$1,028,262$702,543▼ $325,719
Liabilities
Unsecured Notes Loans Payable$130,113--
Accounts Payable and Accrued Expenses$0$109,923▲ $109,923
Grants Payable$0--
Mortgage Notes Payable Secured by Investment Property$0--
Deferred Revenue$0--
Escrow Account Liability$0--
Tax Exempt Bond Liabilities$0--
Other Liabilities$994$-35,303▼ $36,297
Total Liabilities$131,107$74,620▼ $56,487
Net Assets / Fund Balance
Total Net Assets Fund Balance$897,155$627,923▼ $269,232
Total Liabilities and Net Assets / Fund Balance$1,028,262$702,543▼ $325,719

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$438,484$105,308$0
Other Land Buildings$104,936$3,864$0
Land$0-$0
Equipment$59,558$12,103$0
Leasehold Improvements$8,802$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Hugh HalterPresident/ Board MemberFT$138,000$138,000
Taylor McCallTreasure/Secretary/ Board MemberFT$58,500$58,500
David McCannPost Commons ManagerFT$47,928$47,928
Justine CarlsonPost Event Manager/BaristaFT$37,635$37,635
Shea MaplesPost Kitchen ManagerFT$36,152$36,152
C FleckBarista/ RoasterFT$31,517$31,517
Kristen GaitherLantern StaffFT$22,902$22,902
Lindsey McCallFinancial DirectorPT$18,541$18,541

Board Members and Trustees

NameTitle
Jeremy StephensBoard Member
Lucas PulleyBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$311,026
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$342,707
All Other Contributions
$311,026
Change in Net Assets
$-290,663
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$533,246
Other Expenses$388,750
Grants and Similar Amounts Paid$22,400
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$533,246--$533,246
Occupancy$80,824--$80,824
Office Expenses$30,925--$30,925
Depreciation Depletion$27,993--$27,993
All Other Expenses$27,084--$27,084
Other Expenses$26,978$0$0$26,978
Grants to Domestic Orgs$22,400--$22,400
Insurance$18,534--$18,534
Travel$17,216--$17,216
Fees for Services Legal$9,548--$9,548
Advertising$5,559--$5,559
Fees for Services Management$697--$697
Total Functional Expenses$944,396$0$0$944,396
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Forge AmericaFrisco, TX-The Purpose of This Grant Is To Support the Efforts of Our Sister Missional Training and Planting Organization.$17,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0--
Receivables from Disqualified Persons$0--
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Revenue Clearing$-8,103
Right of Use Liability$-27,200
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Taylor McCall is an employee and is on the board and his wife, Lindsey McCall is the Financial Director for the Lantern Network. David McCann and Justine Carlson (both employees) are brother and sister. Hugh Halter President and Board member is married to Cheryl Halter who runs Ri Beag Refuge and daughter Alli Picos is a contractor for Ground Floor Collective.

Form 990, Part VI, Section B, Line 11B

Organization's process to review 990 is sent to the President for review prior to filing.

Form 990, Part VI, Section B, Line 12C

The board reviews all of the policy documents.

Form 990, Part VI, Section B, Line 15

The process used to establish compensation is based on market rate research and positional needs.

Form 990, Part VI, Section C, Line 19

The are not available to the public in general, but can be if requested.

Filing and Contact Details

Filer

Filer Name
Lantern Network
EIN
47-1971599
Phone
2053965324
Address
300 Alby Street, Alton, IL 62002

Signing Officer

Name
Hugh Halter
Title
President
Phone
6184338870
Signed
2023-11-15

Organization Details

Principal Officer
Hugh Halter
Formed
2018
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
3
Employees
23
Volunteers
30
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Groundworks is a co working space that encourages collaboration of business, resources, and philanthropy. Ground Floor Collective is apart of Groundworks and is a photography studio and is open for photographers and fosters communal creatively in the arts.

Form 990, Part III, Line 3

In 2022 a co working community space called Groundworks was formed under the Lantern Network was established.

Form 990, Part XI, Line 9

This change in net asset is due to a the sale of the land at 26066 Elsah Hills Drive in Dow, IL. This was sold to the Halter family and a portion is leased back to the Lantern Network for nonprofit use for 10 years. See right of use lease information.

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IRS990/OtherExpensesGrp/TotalAmt153557
IRS990/OtherExpensesGrp/TotalAmt276586
IRS990/OtherExpensesGrp/TotalAmt326978
IRS990/OtherLiabilitiesGrp/BOYAmt0994
IRS990/OtherLiabilitiesGrp/EOYAmt0-35303
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0533246
IRS990/OtherSalariesAndWagesGrp/TotalAmt0533246
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/PartialLiquidationInd01
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0421794
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0421794
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0-4600
IRS990/PrincipalOfficerNm0Hugh Halter
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0This program supports Brave Cities which is a fiscal sponsor of Lantern Network. The mission of Brave Cities as working with Lantern Network is to locate, train, and equip pioneer leaders to build Kingdom ecosystems wishing existing cities to launch entrepreneurial startups, establish justice works, provide sustainability amount the impoverished, and to help the city thrive in all aspects of life.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0103705
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt097043
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0735769
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt057349
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0238219
IRS990/PYOtherRevenueAmt0276851
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0418622
IRS990/PYSalariesCompEmpBnftPaidAmt0298430
IRS990/PYTotalExpensesAmt0593998
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01012620
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-290663
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0735219
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0475361
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0206129
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0311026
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0735769
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0301836
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0423287
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0226138
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01998056
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0521236
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0411541
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0288178
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0422905
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0366919
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02010779
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt04008835
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0832262
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01147310
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0590014
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0846192
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0593057
IRS990ScheduleA/Total509Grp/TotalAmt04008835
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0832262
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01147310
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0590014
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0846192
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0593057
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04008835
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0438484
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0105308
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0543792
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt059558
IRS990ScheduleD/EquipmentGrp/DepreciationAmt012103
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt071661
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt08802
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt08802
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0104936
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03864
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0108800
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-27200
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-8103
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Right of Use Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Revenue Clearing
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0611780
IRS990ScheduleD/TotalLiabilityAmt0-35303
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt017000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0The Purpose of This Grant Is To Support the Efforts of Our Sister Missional Training and Planting Organization.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Forge America
IRS990ScheduleI/RecipientTable/RecipientEIN0462651049
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO Box 708
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Frisco
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd075034
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Grant to Forge America for $17,000 given in 2022.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I, Part I, Line 2
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0The 80 acres of land donated in 2021 on Elsah Hills Drive in Dow, IL to the Lantern Network has been sold to President Hugh Halter. The land appraised for $350K. Halters paid the Lantern Network $76K for upper 40 and were compensated and taxed for $138K. Remaining $136K is leased back to the Lantern Network for use for 10 years via right of use lease. A large portion of the land is used by Ri Beag Refuge, a benevolent program run under the Lantern Network. See program service description for additional details.
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02022-01-01
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0350000
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0Formal Appraisal
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0Hugh Halter
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt026066 Elsah Hill Drive

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