Lane College

Analysis

Lane College is a registered charity in United States, based in Jackson, TN. It received its IRS tax-exemption ruling in April 1954, 72 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lane College reported income of $32.4m and spending of $36.0m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $27.7m to $32.4m (+17%), an average of +4.0% a year. The sharpest change came in the year to June 2021, when income rose by 105%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lane College 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 98th percentile, and in the 98th percentile within TN. Charities of a similar size with the same main cause include Western Pennsylvania School for the Deaf ($32.4m), Meadow Oaks Education Foundation ($32.4m) and Columbia College ($32.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $221k (0.6% of expenses). Other salaries and wages came to $10.6m. At year end it held assets of $62.5m against liabilities of $3.6m, net assets of $58.9m. It reported 319 employees.