Lantern Project
- Assets
- $530.1k
- Revenue
- $39.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Abilene, TX
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 47-1403943
Organization Overview
Lantern Project is located in Abilene, TX. The organization was established in 2014. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lantern Project is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lantern Project generated $39.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (23.8%) each year. All expenses for the organization totaled $17.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (25.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE OVERALL MISSION OF THE LANTERN PROJECT 1) TO ASSIST PEOPLE WITH BARRIERS TO EMPLOYMENT BY PROVIDING VOCATIONAL EDUCATION, WORK TRAINING, AND SUPPORT SERVICES, 2) TO PROVIDE A FAITH-BASED PROGRAM DESIGNED TO TEACH LIFE SKILLS TO PEOPLE WITH BARRIERS IN LIFE, 3) TO PROVIDE OR FACILITATE BUILDING PROJECTS, WATER WELLS, HUMANITARIAN PROJECTS IN FOREIGN COUNTRIES AND NORTH AMERICA. THE LANTERN PROJECT FEELS STRONGLY THAT THERE EXISTS A RISING DEMAND FOR SKILLED LABORERS, AND THE ORGANIZATION CAN ASSIST WITH FILLING THIS DEMAND BY EQUIPPING EAGER AND HARDWORKING MULTI-NATIONALS, VETERANS, AND OTHER INDIVIDUALS WHO LACK ACCESS TO GOOD TRAINING PROGRAMS AND LIFE SKILL PROGRAMS. THE ORGANIZATION'S CURRENT FOCUS IS ON TRAINING AND ASSISTING REFUGEES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ABILENE: THE ABILENE PROGRAM WAS HELPING TO RAISE FUNDS AND WE ALSO PARTNERED WITH 4 OTHER LOCAL NON-PROFITS WITH SIMILAR VISIONS TO PROVIDE MUCH NEEDED FINANCIAL SUPPORT DUE TO THE IMPACTS THAT COVID HAS HAD ON THEIR FUNDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Porter President | OfficerTrustee | 1 | $0 |
Pam Langley Secretary | OfficerTrustee | 1 | $0 |
Cody Forsberg Treasurer | OfficerTrustee | 2 | $0 |
Ronald Johnson Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,549 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,549 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,195 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,744 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,910 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $437 |
| Fees for services: Accounting | $3,267 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,262 |
| All other expenses | $0 |
| Total functional expenses | $17,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $529,658 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $405 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $530,063 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $530,063 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $530,063 |
Grants Awarded
Over the last fiscal year, Lantern Project has awarded $58,113 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NOAH PROJECT PURPOSE: To provide funding to help support outreach programs for individuals with barriers. | $32,570 |
Abilene, TX PURPOSE: To provide funding to provide diester relief those in need | $20,000 |
Chicago, IL PURPOSE: To provide funding to help support for children | $5,543 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Oklahoma Regional Disposal Inc Ardmore, OK | $26,583,430 | $8,747,101 |
Refuge For Dmst Austin, TX | $8,762,673 | $5,480,979 |
Tom And Judy Love Foundation Oklahoma City, OK | $25,645,050 | $2,597,711 |
Las Campanas Water And Sewer Cooperative Santa Fe, NM | $20,840,511 | $2,681,425 |
Virginia Clay Dorman Foundation Fort Worth, TX | $16,953,466 | $1,907,233 |
Pelican Center For Children And Families Zachary, LA | $477,827 | $955,905 |
Arkansas Justice Collective Springdale, AR | $465,540 | $883,809 |
Peach Mott Foundation Inc Victoria, TX | $9,475,133 | $716,712 |
Supporting People In Need Silver City, NM | $29,800 | $747,510 |
Front Yard Bikes Baton Rouge, LA | $741,430 | $728,321 |
Fort Worth Report Fort Worth, TX | $808,066 | $1,446,155 |
New Mexico Black Leadership Council Albquerque, NM | $772,650 | $1,115,978 |