Lantern Organization Inc

Analysis

Lantern Organization Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 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 December 2023, Lantern Organization Inc reported income of $17.0m and spending of $16.1m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $17.0m (+1268%), an average of +92% a year. The sharpest change came in the year to December 2022, when income rose by 1322%. Over the whole period it spent 68% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lantern Organization Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Cinnaire Lending Corporation ($17.0m), Oregon Coast Community Action ($17.1m) and Do Good Multnomah ($17.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $300k (1.9% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $55.0m against liabilities of $23.1m, net assets of $31.9m. It reported 2 employees.