Lantern Light Inc

Analysis

Lantern Light Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in January 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Light Inc reported income of $212k and spending of $315k, spending 149% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $251k to $212k (-16%), an average of -4.1% a year. The sharpest change came in the year to December 2021, when income dropped by 21%. Over the whole period it spent 115% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lantern Light Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within LA. Charities of a similar size with the same main cause include Cardinal Kung Foundation Inc ($212k), Mothers of Crown Heights Inc ($212k) and National Association of Black Women Entrepreneurs ($212k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $68k (22% of expenses). Other salaries and wages came to $72k. At year end it held assets of $1.3m against liabilities of $1,400, net assets of $1.3m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.