Lantern Light Inc
Lantern Light Inc. faces persistent operating deficits and declining assets despite zero officer compensation.
EIN: 204769645 · New Orleans, LA · NTEE: P60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $202K |
| Total Expenses | $315K |
| Program Spending | 80% |
| Net Assets | $1.3M |
| Transparency Score | 65/100 |
Is Lantern Light Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lantern Light Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lantern Light Inc
Lantern Light Inc (EIN: 204769645) is a nonprofit organization based in New Orleans, LA, classified under NTEE code P60. The organization reported total revenue of $202K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lantern Light Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lantern Light Inc is a small nonprofit that has been operating for 10 years, with 8 years of IRS 990 filings on record (2015–2023). Revenue has grown at a compound annual rate of -3.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $212K |
| Total Expenses | $315K |
| Surplus / Deficit | $-103,524 |
| Total Assets | $1.3M |
| Total Liabilities | $1K |
| Net Assets | $1.3M |
| Operating Margin | -48.9% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 49.0 months |
Financial Health Grade: B
In 2023, Lantern Light Inc reported a deficit of $104K with expenses exceeding revenue, holds 49.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 8 years of filings (2015–2023), Lantern Light Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -12.6% | +6.8% | -7.8% |
| 2022 | +8.4% | +19.1% | -8.4% |
| 2021 | -21.1% | -1.6% | -4.8% |
| 2020 | +12.9% | -9.7% | +4.8% |
| 2019 | +14.6% | +2.0% | -3.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1700 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lantern Light Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Lantern Light Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $104K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
Lantern Light Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is a strong positive for minimizing administrative costs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lantern Light Inc's IRS 990 filings:
- Persistent operating deficits (expenses exceeding revenue in 202312, 202212, 202112, 201912, 201712)
- Declining asset base (from $2,036,714 in 201612 to $1,287,487 in 202312)
- Increasing liabilities in the most recent period ($1,400 in 202312 compared to $1,000 in 201912, though still low overall)
Strengths
The following positive indicators were identified for Lantern Light Inc:
- Consistent reporting of 0% officer compensation across all filings
- Good transparency with 8 available IRS 990 filings
- Assets significantly exceed liabilities, indicating solvency despite operational challenges
Frequently Asked Questions about Lantern Light Inc
Is Lantern Light Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lantern Light Inc (EIN: 204769645) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Lantern Light Inc spend its money?
Lantern Light Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lantern Light Inc tax-deductible?
Lantern Light Inc is registered as a tax-exempt nonprofit (EIN: 204769645). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lantern Light Inc's spending goes to programs?
Lantern Light Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lantern Light Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Lantern Light Inc is above average for NTEE category P60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lantern Light Inc located?
Lantern Light Inc is headquartered in New Orleans, Louisiana and files with the IRS under EIN 204769645. It is classified under NTEE code P60.
How many years of IRS 990 filings does Lantern Light Inc have?
Lantern Light Inc has 8 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $202K in total revenue.
Is Lantern Light Inc. a good charity?
Lantern Light Inc. exhibits strong transparency with consistent filings and reports zero officer compensation, which is commendable. However, its financial sustainability is a concern due to persistent operating deficits and declining assets over recent years, suggesting a need for improved financial management or increased revenue.
Why are Lantern Light Inc.'s assets declining?
Lantern Light Inc.'s assets have declined from $2,036,714 in 201612 to $1,287,487 in 202312 primarily because its expenses have consistently exceeded its revenue in most recent periods (e.g., $315,181 expenses vs. $211,657 revenue in 202312), leading to a depletion of reserves.
What is the trend in Lantern Light Inc.'s revenue?
Lantern Light Inc.'s revenue has fluctuated but generally shows a slight downward trend in recent years, from $283,019 in 202012 to $211,657 in 202312, contributing to its operational deficits.
Filing History
IRS 990 filing history for Lantern Light Inc showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2015–2023), Lantern Light Inc's revenue has declined by 27.5%, moving from $292K to $212K. Total assets decreased by 20.3% over the same period, from $1.6M to $1.3M. Total functional expenses rose by 39.6%, from $226K to $315K. In its most recent filing year (2023), Lantern Light Inc reported a deficit of $104K, with expenses exceeding revenue. The organization holds $1K in liabilities against $1.3M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $212K | $315K | $1.3M | $1K | — | — |
| 2022 | $242K | $295K | $1.4M | $2K | — | — |
| 2021 | $223K | $248K | $1.5M | $3K | — | View 990 |
| 2020 | $283K | $252K | $1.6M | $27K | — | — |
| 2019 | $251K | $279K | $1.5M | $1K | — | View 990 |
| 2017 | $219K | $273K | $1.6M | $4K | — | View 990 |
| 2016 | $331K | $270K | $2.0M | $403K | — | View 990 |
| 2015 | $292K | $226K | $1.6M | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $212K, expenses of $315K, and assets of $1.3M (revenue -12.6% year-over-year).
- 2022: Revenue of $242K, expenses of $295K, and assets of $1.4M (revenue +8.4% year-over-year).
- 2021: Revenue of $223K, expenses of $248K, and assets of $1.5M (revenue -21.1% year-over-year).
- 2020: Revenue of $283K, expenses of $252K, and assets of $1.6M (revenue +12.9% year-over-year).
- 2019: Revenue of $251K, expenses of $279K, and assets of $1.5M (revenue +14.6% year-over-year).
- 2017: Revenue of $219K, expenses of $273K, and assets of $1.6M (revenue -33.8% year-over-year).
- 2016: Revenue of $331K, expenses of $270K, and assets of $2.0M (revenue +13.2% year-over-year).
- 2015: Revenue of $292K, expenses of $226K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lantern Light Inc:
Data Sources and Methodology
This transparency report for Lantern Light Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.