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 06/2022, 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 06/2022, Lane Tech Alumni Association Inc generated $402.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $318.7k during the year ending 06/2022. While expenses have increased by 8.0% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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
THE LTAA SCHOLARSHIP PROGRAM IS OUR RAISON D'ETRE AND THE MOST SIGNIFICANT COMPONENT OF A PHILANTHROPIC PORTFOLIO OF SERVICES FOCUSED ON PROVIDING EDUCATIONAL ENHANCEMENTS, PROMOTING COLLEGE READINESS, AND EXPANDING ACCESS TO HIGHER EDUCATION FOR THE STUDENTS OF LANE TECH. WITH A CUMULATIVE TOTAL OF MORE THAN $2.5 MILLION DOLLARS ADMINISTERED SINCE THE PROGRAM WAS CONCEIVED IN 1985, IN 2022, TWENTY-FOUR SENIORS RECEIVED SCHOLARSHIPS RANGING FROM $2,000 TO $10,000. THIS PROGRAM IS INTENDED TO INCREASE ACCESS TO HIGHER EDUCATION AND SET HIGH-POTENTIAL STUDENTS ON A PATH TO SUCCESS FOR AT LEAST THEIR FRESHMAN YEAR, AND IN SOME CASES, FOR FOUR YEARS. 40% OF THESE YOUNG PEOPLE 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 COMPOUNDED BY COVID-RELATED STRESSORS. LTAA SCHOLARSHIPS ARE POIGNANT AND POWERFUL. IN MOST CASES, DONORS ARE GRADUATES OF LANE TECH, OR HAVE GIVEN THEIR GIFTS IN HONOR OF FAMILY MEMBERS WHO WERE ALUMNI OR FACULTY. THE LTAA SOLICITS SCHOLARSHIP DONORS, PROVIDES PROGRAM DESIGN AND ADMINISTRATION, DISBURSES FUNDS, AND TRACKS OUTCOMES.
THE LTAA TEACHER INNOVATION GRANT PROGRAM WAS ESTABLISHED IN 2010 TO OFFSET SYSTEM-WIDE BUDGET DEFICIENCIES AND PROMOTE A BEST-IN-CLASS CURRICULUM THAT ENHANCES THE EDUCATIONAL EXPERIENCE AND PROMOTES COLLEGE-READINESS FOR LANE TECH STUDENTS. MORE THAN $22,000 IN AWARDS WERE GRANTED TO EIGHTEEN TEACHERS CONTRIBUTING TO A CUMULATIVE TOTAL EXCEEDING $315,000 SINCE THE PROGRAM'S INCEPTION. GRANTS WERE INSTRUMENTAL IN SUPPLYING MATERIALS LIKE ROBOTICS PARTS FOR THE FIRST ROBOTICS COMPETITION AND SPECIAL SINGING MASKS FOR PERFORMERS IN THE SCHOOL MUSICAL. TEACHER INNOVATION GRANTS TOUCH VIRTUALLY EVERY ONE OF THE 4,500 STUDENTS AT LANE AND ENABLE THE FACULTY AND STAFF TO OFFER MORE RIGOROUS PROGRAMS THAT INCREASE STUDENT ACHIEVEMENT. AN OUTGROWTH OF THE GRANT PROGRAM INCLUDES THE REGULAR UNDERWRITING OF COLLEGE BUS TOURS THAT PROMOTE COLLEGE READINESS AND ACCESS TO INSTITUTIONS THAT STUDENTS MIGHT OTHERWISE NEVER CONSIDER DUE TO GEOGRAPHIC LIMITATIONS. WHEN COVID RESTRICTIONS EASED IN THE SPRING, FORTY STUDENTS WERE ABLE TO TRAVEL TO THE UNIVERSITY OF WISCONSIN, MADISON.
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 ALUMNI AFFINITY GROUPS AND SCHOOL COMMUNITY PARTNERS. THE LTAA PUBLISHES A TRIANNUAL MAGAZINE THAT REACHES MORE THAN 3500 READERS AND OFFERS A ROBUST COMMUNICATION/INFORMATION CONDUIT THROUGH VARIOUS SOCIAL MEDIA PLATFORMS WHICH HAVE A COMBINED 20,000 FOLLOWERS. COVID-19 RESULTED IN A CONTINUED RELIANCE ON TECHNOLOGY TO BRING CONSTITUENTS TOGETHER VIA VIRTUAL TOURS, SEMINARS, AND MEETINGS, AS WELL AS SERVICE PROJECTS INCLUDING ONLINE COAT AND FOOD PANTRY DRIVES FOR STUDENTS IN NEED. HYBRID CLASS REUNIONS WERE ENHANCED THROUGH LTAA SERVICES, AND THE YEAR CULMINATED WITH AN IN-PERSON 50TH ANNIVERSARY CELEBRATION OF CO-EDUCATION AT LANE TECH FOR TWO HUNDRED ALUMNI AND GUESTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stuart Eng Board Member | Trustee | 2 | $0 |
Luis Jimenez Board Member | Trustee | 2 | $0 |
Melissa Reardon Henry Vice President | Trustee | 2 | $0 |
Paul Gonley Board Member | Trustee | 2 | $0 |
Jim Guerin Board Member | Trustee | 2 | $0 |
Joe Lawniczak Board Member | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $25,578 |
Fundraising events | $7,960 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $411,414 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $444,952 |
Total Program Service Revenue | $0 |
Investment income | $24,508 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$81,663 |
Net Income from Fundraising Events | $1,478 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $858 |
Miscellaneous Revenue | $0 |
Total Revenue | $402,413 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $31,541 |
Grants and other assistance to domestic individuals. | $142,500 |
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 | $55,269 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $4,228 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $8,604 |
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 | $16,024 |
Information technology | $5,000 |
Royalties | $0 |
Occupancy | $15,329 |
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 | $4,025 |
All other expenses | $0 |
Total functional expenses | $318,677 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $199,032 |
Savings and temporary cash investments | $619,872 |
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 | $3,123 |
Prepaid expenses and deferred charges | $2,244 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $76,065 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $900,336 |
Accounts payable and accrued expenses | $86 |
Grants payable | $0 |
Deferred revenue | $106,780 |
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 | $106,866 |
Net assets without donor restrictions | $534,081 |
Net assets with donor restrictions | $259,389 |
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 | $900,336 |
Over the last fiscal year, we have identified 4 grants that Lane Tech Alumni Association Inc has recieved totaling $18,642.
Awarding Organization | Amount |
---|---|
Winiarski Family Foundation Napa, CA PURPOSE: FINANCIAL SUPPORT FOR THE ORGANIZATION | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $8,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $92 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $50 |
Organization Name | Assets | Revenue |
---|---|---|
Indiana University Alumni Association Inc Bloomington, IN | $31,479,674 | $10,109,353 |
Center For Advanced Studies In Business Inc Madison, WI | $9,461,883 | $6,530,338 |
University Of Wisconsin Medical Alumni Association Inc Madison, WI | $0 | $0 |
The University Of Illinois Alumni Association Urbana, IL | $29,310,021 | $6,588,632 |
Purdue Alumni Association Inc Memorial Union Building West Lafayette, IN | $28,454,716 | $5,513,832 |
Iowa State University Alumni Association Ames, IA | $19,372,302 | $3,613,244 |
University Of Kentucky Alumni Association Inc Lexington, KY | $23,880,056 | $3,849,544 |
University Of Missouri Alumni Assn Columbia, MO | $16,718,552 | $3,263,310 |
University Of Northern Iowa Alumni Association Cedar Falls, IA | $0 | $679,804 |
University Of The Philippines Medical Alumni Society In America Lafayette, IN | $12,245,411 | $1,758,364 |
Western Kentucky University Alumni Association Inc Bowling Green, KY | $10,394,906 | $2,845,412 |
Northern Illinois University Alumni Association Dekalb, IL | $2,687,455 | $1,196,387 |