Friends Of Lane
- Assets
- $563.3k
- Revenue
- $501.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 09/2014
- Data as of
- 07/2021
- EIN
- 47-0971734
Organization Overview
Friends Of Lane is located in Chicago, IL. The organization was established in 2014. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Lane 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 07/2021, Friends Of Lane generated $501.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $234.7k during the year ending 07/2021. While expenses have increased by 36.1% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR GOAL IS TO BUILD COMMUNITY AND SUPPORT LANE TECH PARENTS, TEACHERS, STUDENTS, ADMINISTRATORS, AND STAFF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAISE FUNDS FOR THE SCHOOL TO PAY EXPENSES THAT EXCEED THE SCHOOL'S OPERATING BUDGET.
RAISE FUNDS FOR THE SCHOOL TO PAY EXPENSES THAT EXCEED THE SCHOOL'S OPERATING BUDGET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deb Shelist Secretary | Officer | 10 | $0 |
Lisa Borelli Vice President | Officer | 10 | $0 |
Amy Cooper Treasurer - Former | Officer | 10 | $0 |
Nikki Pesch President | Officer | 10 | $0 |
Susie Hauser Treasurer | Officer | 10 | $0 |
Naresh Koka Secretary/technology | Trustee | 10 | $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 | $377,472 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $377,472 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $124,217 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $501,690 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $217,573 |
| 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 | $0 |
| Fees for services: Accounting | $5,900 |
| 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 | $0 |
| 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 | $3,102 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $624 |
| All other expenses | $7,488 |
| Total functional expenses | $234,687 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $486,039 |
| 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 | $67,527 |
| Prepaid expenses and deferred charges | $9,688 |
| 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 | $563,254 |
| Accounts payable and accrued expenses | $16,040 |
| 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 | $83 |
| Total liabilities | $16,123 |
| Net assets without donor restrictions | $547,131 |
| 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 | $563,254 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Friends Of Lane has recieved totaling $56,202.
| Awarding Organization | Amount |
|---|---|
Chicago Cubs Charities Chicago, IL PURPOSE: SCHOOL ALL-STAR GRANT | $25,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $16,574 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF GENERAL OPERATIONS. | $7,700 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,699 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,779 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $1,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Missouri State University Foundation Springfield, MO | $193,009,225 | $33,993,322 |
Wku Student Life Foundation Inc Bowling Green, KY | $178,491,745 | $30,600,200 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |