Lane Tech Alumni Association Inc

Organization Overview

Lane Tech Alumni Association Inc is located in Chicago, IL. The organization was established in 1986. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 06/2023, Lane Tech Alumni Association Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lane Tech Alumni Association Inc 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 06/2023, Lane Tech Alumni Association Inc generated $374.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $325.0k during the year ending 06/2023. While expenses have increased by 7.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO CHAMPION THE LIFE-LONG RELATIONSHIP OF LANE TECH GRADUATES TO THEIR ALMA MATER, TO ONE ANOTHER, AND TO THE GREATER COMMUNITY OF LANE TECH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN YEAR THIRTY-SEVEN, THE LTAA SCHOLARSHIP PROGRAM REMAINS THE CORNERSTONE PHILANTHROPIC INITIATIVE FOR THE LTAA WITH A CUMULATIVE TOTAL OF MORE THAN 2.8 MILLION DOLLARS ADMINISTERED OVER THE LIFESPAN OF THE PROGRAM. IN FY2022/23, THIRTY-THREE GRADUATING SENIORS RECEIVED SCHOLARSHIPS RANGING FROM $1,000 TO $10,000, SETTING THEM ON A PATH FOR SUCCESS FOR AT LEAST THEIR FRESHMAN YEAR, AND IN SOME CASES, FOR FOUR YEARS. 36% OF THE STUDENTS AT LANE TECH ARE FROM LOW OR MODERATELY LOW-INCOME FAMILIES. MANY ARE FROM IMMIGRANT FAMILIES, SINGLE PARENT HOMES, FIRST GENERATION COLLEGE-BOUND, AND ALL HAVE SOME LEVEL OF FINANCIAL NEED, STILL COMPOUNDED BY COVID-RELATED ECONOMIC STRESSORS. LTAA SCHOLARSHIPS PROVIDE "LAST MILE" FINANCING SO THAT THE HIGH-POTENTIAL STUDENTS OF LANE CAN ATTEND THEIR BEST-FIT INSTITUTIONS. THE LTAA SOLICITS SCHOLARSHIP DONORS, DESIGNS AND ADMINISTERS THE PROGRAMS, DISTRIBUTES FUNDS, AND DOCUMENTS THE RESULTS.


THE LTAA TEACHER INNOVATION GRANT PROGRAM WAS ESTABLISHED IN 2010 TO OFFSET SYSTEM-WIDE BUDGET DEFICIENCIES AND PROMOTE A BEST-IN-CLASS CURRICULUM. THE CUMULATIVE TOTAL OF INNOVATION AWARDS HAS EXCEEDED $308,000 SINCE THE PROGRAM'S INCEPTION. GRANTS WERE A KEY PART OF RE-INVIGORATING IN-PERSON LEARNING AND PROVIDED EVERYTHING FROM ROBOT PARTS TO STUDENT PARTICIPATION IN A MODEL UN CONFERENCE. THESE GRANTS TOUCH VIRTUALLY EVERY ONE OF THE MORE THAN 4,500 STUDENTS AT LANE AND ENABLE THE FACULTY AND STAFF TO OFFER MORE PROGRAMS AND EXTRACURRICULAR ACTIVITIES THAN ANY OTHER CPS HIGH SCHOOL. THE GRANT PROGRAM IS A CRITICAL COMPONENT OF A HOLISTIC APPROACH IN SUPPORT OF THE STUDENTS OF LANE TECH THROUGH EDUCATIONAL ENHANCEMENTS, COLLEGE-READINESS, AND ACCESS TO HIGHER EDUCATION.


CONNECTING PEOPLE AND COMMUNITY-BUILDING IS A PRIMARY FOCUS OF THE LTAA. CONSTITUENT GROUPS INCLUDE OVER 9,000 ALUMNI, 4500 STUDENTS AND 350 FACULTY AND STAFF, AS WELL AS AFFINITY GROUPS, NEIGHBORS AND FRIENDS. THE LTAA PUBLISHES A BIANNUAL MAGAZINE THAT REACHES MORE THAN 4,000 READERS, AND A DIGITAL NEWSLETTER TWO TIMES PER MONTH. THE LTAA ENGAGES VARIOUS SOCIAL MEDIA PLATFORMS WITH A COMBINED 20,000 FOLLOWERS, AND TRACKS HUNDREDS OF THOUSANDS OF IMPRESSIONS. COVID-19 RESULTED IN AN EVEN GREATER RELIANCE ON TECHNOLOGY TO BRING CONSTITUENTS TOGETHER VIA VIRTUAL EVENTS, AND ONCE PERMITTABLE, MONTHLY LIVE EVENTS WERE OFFERED TO ALUMNI IN RESPONSE TO THE ISOLATION OF THE PREVIOUS YEARS.


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Board, Officers & Key Employees

Name (title)Compensation
Michelle Weiner
Executive Director
$24,501
Jim Ascot
Board Member
$0
Deidre Baumann
Board Member
$0
Stuart Eng
Board Member
$0
Fred Glure
Board Member
$0
Paul Gonley
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$23,970
Fundraising events$3,620
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$276,122
Noncash contributions included in lines 1a–1f $100
Total Revenue from Contributions, Gifts, Grants & Similar$303,712
Total Program Service Revenue$13,183
Investment income $37,006
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $13,560
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $2,633
Miscellaneous Revenue$0
Total Revenue $374,877

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