Lantern Network

Analysis

Lantern Network is a registered charity in United States, based in Alton, IL. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Network reported income of $819k and spending of $860k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $702k to $819k (+17%), an average of +3.9% a year. The sharpest change came in the year to December 2021, when income rose by 94%. Over the whole period it spent 88% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Lantern Network sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within IL. Charities of a similar size with the same main cause include Mount Zion First Baptist Church ($819k), Second Impressions Thrift Store Inc ($820k) and Cedar Ridge Inc ($819k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% of the total. Other salaries and wages came to $441k. At year end it held assets of $642k against liabilities of $167k, net assets of $475k. It reported 22 employees.