Lantern Community Services Inc

Analysis

Lantern Community Services Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lantern Community Services Inc reported income of $47.4m and spending of $46.4m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.6m to $47.4m (+155%), an average of +26% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lantern Community Services Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include MHT Housing IV Inc ($47.4m), Emerald Development and Economic ($47.5m) and Lutheran Retirement Ministries of Alamance County North Carolina ($46.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $561k (1.2% of expenses). Other salaries and wages came to $12.9m. At year end it held assets of $26.5m against liabilities of $24.8m, net assets of $1.7m. It reported 328 employees.