Friends of Lane

Analysis

Friends of Lane is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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 July 2023, Friends of Lane reported income of $613k and spending of $485k, leaving 21% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income fell from $704k to $613k (-13%), an average of -3.4% a year. The sharpest change came in the year to July 2020, when income dropped by 45%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Lane sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IL. Charities of a similar size with the same main cause include Montana Learning Center at Canyon Ferry Lake Inc ($612k), Bethany Christian Academy ($613k) and Communities in Schools of Catoosa County Inc ($612k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 67% of the total. At year end it held assets of $1.0m against liabilities of $134, net assets of $1.0m.