Lane Family Foundation Inc
- Assets
- $1.9m
- Revenue
- $904.2k
- Investments
- $1.1m
- Employees
- 0
- Location
- Summit, NJ
- Founding
- Data as of
- 12/2022
- EIN
- 38-4190837
Organization Overview
Lane Family Foundation Inc is located in Summit, NJ. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lane Family Foundation 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 12/2022, Lane Family Foundation Inc generated $904.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (39.8%) each year. All expenses for the organization totaled $109.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER ORGANIZATIONS EXEMPT UNDER INTERNAL
REVENUE CODE SECTION 501(C)(3).
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas K Lane Director | 1 | $0 | |
Kathleen R Lane Director | 1 | $0 | |
Jason T Lane Director | 1 | $0 | |
Kirstin Lane Anderson Director | 1 | $0 | |
Nicole Lane Dinkler Director | 1 | $0 | |
Rachel Lane Coleman Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $787,437 |
| Interest on Savings | $2,795 |
| Dividends & Interest | $20,399 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $93,614 |
| Capital Gain Net Income | $93,614 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $904,245 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $18,281 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $30,703 |
| Contributions, gifts, grants paid | $79,000 |
| Total expenses and disbursements | $109,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $787,910 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,924,329 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Lane Family Foundation Inc has awarded $79,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
NONA CHURCH PURPOSE: GENERAL CHARITABLE PURPOSES | $10,000 |
SECOND BAPTIST CHURCH PURPOSE: GENERAL CHARITABLE PURPOSES | $10,000 |
SOLID FOUNDATION YOUTH OUTREACH PURPOSE: GENERAL CHARITABLE PURPOSES | $9,000 |
STONE RIDGE FOUNDATION PURPOSE: GENERAL CHARITABLE PURPOSES | $10,000 |
HOUSTON PREGNANCY HELP CENTER PURPOSE: GENERAL CHARITABLE PURPOSES | $10,000 |
CHRISTIAN CAMPS AND CONFERENCES PURPOSE: GENERAL CHARITABLE PURPOSES | $20,000 |