Overview
What is Friends Of Lane?
Friends of Lane is a nonprofit organization situated in Chicago, Illinois, specifically at 2501 W Addison, with a mission to bolster the community surrounding Lane Tech High School. They primarily aim to raise funds to cover expenses that surpass the school's operational budget. By doing so, they provide essential support to Lane Tech's parents, teachers, students, administrators, and staff, ultimately fostering a sense of unity and camaraderie within the school community.
Official website here: www.friendsoflane.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
Friends Of Lane has achieved a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The charity's overall score is based entirely on its performance in these areas, where it earned an 84% score. This indicates that the organization is effectively managing its finances and maintaining a responsible approach to its operations.
The organization demonstrates strong governance, with all board members being independent. It scored full marks for its financial statements being audited, the lack of material diversion of assets, and a high program expense ratio of 95.52%, suggesting that most funds are directed towards its mission. These strengths indicate a commitment to transparency and effective resource allocation.
However, the rating also highlights some areas for improvement, specifically the absence of a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy. Addressing these gaps could enhance the organization's governance practices and further improve its accountability standing in the eyes of donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Lane legitimate?
Friends Of Lane is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Lane 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.
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.friendsoflane.org
What is the mission statement of Friends Of Lane?
Friends of Lane's mission is focused on fostering a sense of community and providing support to various stakeholders of Lane Tech, including parents, teachers, students, administrators, and staff. Their primary objective is to raise funds to cover expenses that exceed the school's operating budget, ensuring that the institution has the necessary resources to thrive. By doing so, Friends of Lane aims to contribute positively to the school's environment and the overall experiences of its community members.
Official website here: www.friendsoflane.org
What is the revenue of Friends Of Lane?
Friends Of Lane's revenue in 2023 was $612,565.
Official website here: www.friendsoflane.org
Who are the executives of Friends Of Lane and what are their salaries?
There 50 volunteers at Friends Of Lane.
Here are 11 key members and their salaries:
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Official website here: www.friendsoflane.org
Where can I find the form 990 for Friends Of Lane?
Friends Of Lane's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.friendsoflane.org
Learn more at the official website: www.friendsoflane.org
Mission Statement of Friends Of Lane
Friends of Lane, a community-focused organization, is dedicated to its mission of fostering unity and providing support to Lane Tech's parents, teachers, students, administrators, and staff. This nonprofit aims to achieve this goal by focusing on fundraising efforts. By raising funds, Friends of Lane seeks to cover expenses that exceed the school's operating budget, ensuring that the school has the necessary resources to thrive. This support extends beyond just financial aid, as the organization's mission is centered around building a strong, inclusive community where everyone feels valued and supported.
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Impact
July, 2024
Friends Of Lane's impact can be seen in the strong sense of community it fosters among Lane Tech parents, teachers, students, administrators, and staff. By raising funds to support the school and help cover expenses beyond the operating budget, Friends Of Lane plays a crucial role in enriching educational opportunities for all members of the Lane Tech community. Through their efforts, they contribute to the enhancement of the overall educational experience and environment at Lane Tech High School in Chicago, IL.
This information is meant to be a general summary of Friends Of Lane. 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 2023.
- Investment Income: $55
- Gross Receipts: $912,573
Assets and Liabilities:
- Total Assets: $921,382
- Total Liabilities: $0
- Net Assets: $921,382
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Organization Details
Founding Year
2014
Principal Officer
Nikki Pesch
Website
www.friendsoflane.orgNTEE Category
Code: B11 - Education
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