Lantern Foundation

Analysis

Lantern Foundation is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in May 2020, 6 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 Foundation reported income of $3.4m and spending of $3.7m, spending 108% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $419k to $3.4m (+720%), an average of +186% a year. The sharpest change came in the year to December 2022, when income rose by 518%. Over the whole period it spent 95% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Lantern Foundation 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 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include Clayton King Ministries Inc ($3.4m), Keren Yom-Tov Inc ($3.4m) and Jet U S a Inc ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $242k (6.5% of expenses). Other salaries and wages came to $507k. At year end it held assets of $321k against liabilities of $0, net assets of $321k. It reported 11 employees.