Overview
What is Lantern Organization Inc?
The Lantern Organization Inc is a New York-based nonprofit that specializes in developing housing solutions for individuals with unique needs. Their mission encompasses both creating homes for those with specific requirements and sponsoring affordable housing projects for low and moderate-income earners. The organization offers valuable technical assistance and supervision, assisting in the identification of suitable sites and determining feasibility for their projects.
Official website here: www.lanterncommunity.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95%, Four-Star out of Four Star Rating
Lantern Organization Inc has received a strong rating of 95% from Charity Navigator, reflecting its solid performance in accountability and finance. This score is particularly impressive as it indicates a strong commitment to financial transparency and effective governance, with an independent board and comprehensive oversight practices in place. The organization excels in areas such as financial statements and the lack of material diversion of assets.
The organization maintains a high program expense ratio of 90.97%, demonstrating its commitment to allocating resources towards its mission-driven activities. Additionally, the working capital ratio of 12.55 years signifies the organization's long-term financial sustainability. The independent board structure, consisting of 100% independent members, and well-documented policies further enhance its credibility.
However, the organization does face challenges in fundraising efficiency, with a notably low ratio of $0.002. This indicates that while Lantern Organization Inc is successful in managing its financial resources, it may need to improve its fundraising strategies to support its operations and initiatives more effectively. Overall, the organization is highly regarded for its financial practices, though it should focus on enhancing its fundraising efforts.
This AI summary has been generated from information found on Charity Navigator.
Is Lantern Organization Inc legitimate?
Lantern Organization Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lantern Organization Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $184,615
For more financial information, click here
Official website here: www.lanterncommunity.org
What is the mission statement of Lantern Organization Inc?
The Lantern Organization is dedicated to creating housing solutions for individuals with special needs. Through its efforts, the organization sponsors housing projects for both low-income and moderate-income individuals with specific requirements. The Lantern Organization offers technical assistance and oversight in various aspects of housing development, from identifying suitable sites to assessing feasibility.
Official website here: www.lanterncommunity.org
Who is the CEO of Lantern Organization Inc?
Daniel Kent is the President of Lantern Organization Inc.
Official website here: www.lanterncommunity.org
What is the revenue of Lantern Organization Inc?
Lantern Organization Inc's revenue in 2022 was $14,682,075.
Official website here: www.lanterncommunity.org
Who are the executives of Lantern Organization Inc and what are their salaries?
The average compensation at Lantern Organization Inc during 2022 was $184,615. There is 1 employee at Lantern Organization Inc.
Here are 9 key members and their salaries:
- Compensation: $184,615
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- Other: $0
Official website here: www.lanterncommunity.org
Where can I find the form 990 for Lantern Organization Inc?
Lantern Organization Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lanterncommunity.org
Learn more at the official website: www.lanterncommunity.org
Mission Statement of Lantern Organization Inc
The Lantern Organization, a notable nonprofit entity, is dedicated to creating housing solutions for individuals with special needs. With a strong commitment to this mission, the organization goes beyond just developing homes; it also sponsors low and moderate income housing projects. The Lantern Organization's role extends further as it offers essential technical assistance and supervision throughout the process, from identifying suitable sites to assessing feasibility.
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Impact
October, 2024
Lantern Organization Inc significantly impacts communities by developing housing for individuals with special needs and supporting low to moderate-income housing projects. Based in New York, NY, the organization plays a crucial role in ensuring that those requiring specialized living arrangements have access to adequate housing. By providing technical assistance and supervision, Lantern Organization not only identifies suitable sites but also assesses the feasibility of housing projects, paving the way for sustainable living options. This commitment to inclusivity fosters a sense of community and stability for individuals with special needs, ultimately enhancing their quality of life.
This information is meant to be a general summary of Lantern Organization Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $1,161,896
- Gross Receipts: $14,682,075
Assets and Liabilities:
- Total Assets: $40,301,929
- Total Liabilities: $9,360,937
- Net Assets: $30,940,992
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST HOUSING LOANS
Revenue
$727,417
DEVELOPMENT FEE INCOME
Revenue
$181,251
RENTAL INCOME
Revenue
$159,856
DEVELOPER FEE
Revenue
$56,172
MANAGEMENT FEE INCOME
Revenue
$37,200
Organization Details
Founding Year
1997
Phone
(212) 292-8400Principal Officer
Daniel Kent
Main Address
42 W 39TH STREET 14TH FLOOR, NEW YORK, NY, 10018
Website
www.lanterncommunity.orgNTEE Category
Code: L20 - Housing
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