Lane College is located in Jackson, TN. The organization was established in 1954. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Lane College employed 301 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lane College 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 College generated $34.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $35.3m during the year ending 06/2022. While expenses have increased by 5.4% 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
LANE COLLEGE IS A PRIVATE,CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING,INSTRUCTION AND SUPPORT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LANE COLLEGE IS AN INSTITUTE OF HIGHER EDUCATION AND PROVIDES INSTRUCTION SCHOLARSHIPS AND VARIOUS SUPPORT SERVICES IN ACHIEVING ITS PRIMARY PURPOSE OF EDUCATING STUDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr Logan Hampton President | Trustee | 60 | $224,180 |
Darryl Mcgee Officer | Officer | 40 | $100,541 |
Bishop Marvin F Thomas Vice Chair | OfficerTrustee | 5 | $0 |
Bishop Henry Williamson Chairman | OfficerTrustee | 5 | $0 |
Rev Dr Ronald Powe Trustee | Trustee | 5 | $0 |
Mr John T Greene Trustee | Trustee | 5 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Entegrity Energy Partners Energy Services | 6/29/22 | $2,143,279 |
Team Clean Jackson Llc Cleaning Service | 6/29/22 | $1,108,875 |
Jackson Energy Authority Utility | 6/29/22 | $1,402,178 |
Artizan Constructors Llc Construction | 6/29/22 | $1,087,755 |
Sysco Food Service | 6/29/22 | $1,081,665 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $12,006,740 |
All other contributions, gifts, grants, and similar amounts not included above | $1,984,226 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,990,966 |
Total Program Service Revenue | $19,074,545 |
Investment income | $207,786 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $34,131,294 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $2,235,745 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $290,679 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,896,059 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $773,807 |
Payroll taxes | $717,075 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $473,167 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $3,539,950 |
Advertising and promotion | $0 |
Office expenses | $3,349,007 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $1,172,948 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $54,549 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,518,078 |
Insurance | $481,706 |
All other expenses | $1,916,345 |
Total functional expenses | $35,286,006 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $12,908,830 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $969,835 |
Accounts receivable, net | $180,825 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $404,254 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $43,284,613 |
Investments—publicly traded securities | $0 |
Investments—other securities | $6,435,573 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,454,677 |
Total assets | $65,638,607 |
Accounts payable and accrued expenses | $1,730,321 |
Grants payable | $0 |
Deferred revenue | $1,190,489 |
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 | $639,806 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $111,801 |
Total liabilities | $3,672,417 |
Net assets without donor restrictions | $57,080,806 |
Net assets with donor restrictions | $4,885,384 |
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 | $65,638,607 |
Over the last fiscal year, we have identified 11 grants that Lane College has recieved totaling $1,369,667.
Awarding Organization | Amount |
---|---|
United Negro College Fund Inc Washington, DC PURPOSE: GRANTS & SCHOLARSHIPS, TECH ASSIST, AREA OFFICE JOINT CAMPAIGN | $1,250,672 |
Educational Credit Management Corporation Minneapolis, MN PURPOSE: Project Success Emergency Aid | $50,000 |
Ayers Foundation Parsons, TN PURPOSE: GENERAL/OPERATING | $25,000 |
Simmons First Foundation Inc Pine Bluff, AR PURPOSE: COMMUNITY SERVICE | $14,250 |
Ford Motor Co Fund Dearborn, MI PURPOSE: COMMUNITY NEEDS | $11,000 |
Dr Maya Angelou Foundation San Ramon, CA PURPOSE: SCHOLARSHIPS | $6,000 |
Beg. Balance | $3,370,871 |
Earnings | -$6,876 |
Admin Expense | $16,909 |
Net Contributions | $63,307 |
Other Expense | -$173,534 |
Ending Balance | $3,583,927 |
Organization Name | Assets | Revenue |
---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Mississippi College Clinton, MS | $268,873,931 | $113,425,007 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |