Lane Tech Alumni Association Inc

Nonprofit profile at a glance

EIN
363450898
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
7739359351
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$452,743
Expenses
$421,012
Assets
$993,464
Liabilities
$117,557

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • HERB BERG (BOARD PRESIDENT)
  • MELISSA REARDON HENRY (BOARD VICE PRESIDENT)

People named in this filing

  • DEIDRE BAUMANN (BOARD MEMBER)
  • HERB BERG (BOARD PRESIDENT)
  • ROBERT BLASSICK (BOARD TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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. The lane tech alumni association will set the gold standard for a dynamic, intergenerational alumni organization affilated with an urban, public high school, the lane tech alumni association providesexceptional member services and impactful philanthropic programs that create meaningful connections, celebrate the school's history and culture, and support life-long learning.

What it reported doing in 2024

For thirty-nine years, the ltaa scholarship program has remained the hallmark philanthropic initiative for the ltaa with a cumulative total of more than 3.4 million dollars administered over the lifespan of the program. In fy25, thirty-nine 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.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 55
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.8%; rating input score 77
  • Program expense ratio: 79.2%; rating input score 79
  • Fundraising efficiency: $35 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 2.36; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: -0% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 76.8% of revenue deployed · 79.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $333K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.