Minnie & Bernard Lane Foundation

Altavista, VA
Tax-exempt since Feb. 1959
EIN: 54-6052404

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$351k (2025)

Expenses

$358k (2025)

Total Assets

$2.92M (2025)

Total Liabilities

$0 (2025)

Source: Form 990 tax filings from 2012 to 2025

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending March
2025

Revenue

$351,239

Expenses

$358,330

Net Income

-$7,091

Net Assets

$2,924,651

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$15	0.0%
Dividends	$114,628	32.6%
Sales of Assets	$236,596	67.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$323,600	90.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,924,651
Total Liabilities	$0
Net Assets	$2,924,651

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 11, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending March
2024

Revenue

$289,762

Expenses

$316,619

Net Income

-$26,857

Net Assets

$2,931,642

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$155	0.1%
Dividends	$108,183	37.3%
Sales of Assets	$181,424	62.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$288,500	91.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,931,642
Total Liabilities	$0
Net Assets	$2,931,642

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 14, 2024

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Fiscal Year Ending March
2023

Revenue

$162,146

Expenses

$293,335

Net Income

-$131,189

Net Assets

$2,953,499

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,038	0.6%
Dividends	$83,651	51.6%
Sales of Assets	$77,457	47.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$263,500	89.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,953,499
Total Liabilities	$0
Net Assets	$2,953,499

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 14, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending March
2022

Revenue

$327,767

Expenses

$348,938

Net Income

-$21,171

Net Assets

$3,084,688

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$82	0.0%
Dividends	$70,163	21.4%
Sales of Assets	$257,522	78.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$319,250	91.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,084,688
Total Liabilities	$0
Net Assets	$3,084,688

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 4, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending March
2021

Revenue

$249,171

Expenses

$248,704

Net Income

$467

Net Assets

$3,105,858

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$115	0.0%
Dividends	$65,429	26.3%
Sales of Assets	$183,627	73.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$225,050	90.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,105,859
Total Liabilities	$1
Net Assets	$3,105,858

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 10, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending March
2020

Revenue

$156,797

Expenses

$237,149

Net Income

-$80,352

Net Assets

$3,105,391

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$5,111	3.3%
Dividends	$82,143	52.4%
Sales of Assets	$69,543	44.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$208,250	87.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,105,392
Total Liabilities	$1
Net Assets	$3,105,391

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Sept. 30, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending March
2019

Revenue

$230,728

Expenses

$265,294

Net Income

-$34,566

Net Assets

$3,185,744

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,048	1.8%
Dividends	$79,902	34.6%
Sales of Assets	$146,778	63.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$239,350	90.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,185,744
Total Liabilities	$0
Net Assets	$3,185,744

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 8, 2019

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Fiscal Year Ending March
2018

Revenue

$134,745

Expenses

$266,694

Net Income

-$131,949

Net Assets

$3,220,310

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,630	1.2%
Dividends	$75,182	55.8%
Sales of Assets	$57,933	43.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$235,650	88.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,220,310
Total Liabilities	$0
Net Assets	$3,220,310

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 14, 2018

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Fiscal Year Ending March
2017

Revenue

$80,284

Expenses

$238,235

Net Income

-$157,951

Net Assets

$3,352,259

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$536	0.7%
Dividends	$70,610	88.0%
Sales of Assets	$9,138	11.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$207,546	87.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,352,259
Total Liabilities	$0
Net Assets	$3,352,259

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 2, 2017

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Fiscal Year Ending March
2016

Revenue

$104,709

Expenses

$287,802

Net Income

-$183,093

Net Assets

$3,510,210

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$100	0.1%
Interest Revenue	$140	0.1%
Dividends	$70,366	67.2%
Sales of Assets	$34,103	32.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$258,865	89.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,510,210
Total Liabilities	$0
Net Assets	$3,510,210

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on July 29, 2016

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Fiscal Year Ending March
2015

Revenue

$76,969

Expenses

$295,499

Net Income

-$218,530

Net Assets

$3,693,303

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$20,576	26.7%
Interest Revenue	$88	0.1%
Dividends	$70,069	91.0%
Sales of Assets	-$14,014
Other Income	$250	0.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$266,480	90.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,694,558
Total Liabilities	$1,255
Net Assets	$3,693,303

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 10, 2015

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Fiscal Year Ending March
2014

Revenue

$123,736

Expenses

$412,752

Net Income

-$289,016

Net Assets

$3,911,833

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$24,799	20.0%
Interest Revenue	$135	0.1%
Dividends	$72,570	58.6%
Sales of Assets	$15,355	12.4%
Other Income	$10,877	8.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$383,964	93.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,913,088
Total Liabilities	$1,255
Net Assets	$3,911,833

Compensation

Key Employees and Officers	Compensation	Other
Douglas Lane (Trustee)	$0	$0
Rick Lane (Trustee)	$0	$0
Lucy Lane Corwin (Trustee)	$0	$0

990-PF

Filed on Aug. 15, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending March
2013

Revenue

$83,204

Expenses

$280,604

Net Income

-$197,400

Net Assets

$4,200,849

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$224	0.3%
Dividends	$68,601	82.4%
Sales of Assets	$14,379	17.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$250,105	89.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,211,866
Total Liabilities	$11,017
Net Assets	$4,200,849

990-PF

Filed on Dec. 10, 2013

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending March
2012

Revenue

-$24,175

Expenses

$392,290

Net Income

-$416,465

Net Assets

$4,396,249

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$890
Dividends	$100,264
Sales of Assets	$0
Other Income	$1,315

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$352,414	89.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,407,266
Total Liabilities	$11,017
Net Assets	$4,396,249

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Updated September 25, 2025

Minnie & Bernard Lane Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $351k (2025)

Expenses $358k (2025)

Total Assets $2.92M (2025)

Total Liabilities $0 (2025)

Tax Filings by Year

Fiscal Year Ending March 2025

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$351k (2025)

Expenses

$358k (2025)

Total Assets

$2.92M (2025)

Total Liabilities

$0 (2025)

Fiscal Year Ending March
2025

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2024

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2023

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2022

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2021

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2020

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2018

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2017

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2016

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2015

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2014

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2013

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2012

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2011

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2002