Civic Intelligence

Lorain County Chamber

990 • Fiscal year 2016 • EIN 34-1557587

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 21, 2017

Organization ProfileWWW.LORAINCOUNTYCHAMBER.COM

View Organization Page

226 Middle Avenue - 5th FloorElyria, OH 44035

(440) 328-2550

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.03x

Higher debt load relative to assets than 62% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

57th percentile

0.01x

Higher debt load relative to revenue than 57% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

81st percentile

17%

Higher net margin than 81% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

92nd percentile

$74,000

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 19.4% of source-year revenue.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets62nd percentile

Assets

$138,830

No earlier filing loaded for comparison.

Net Assets

$134,592

No earlier filing loaded for comparison.

Liabilities

$4,238

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin81st percentile

Revenue

$381,968

No earlier filing loaded for comparison.

Expenses

$316,987

No earlier filing loaded for comparison.

Net Income

$64,981

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2016: $138,830Liabilities 2016: $4,238Net Assets 2016: $134,5922016Assets 2017: $165,075Liabilities 2017: $1,550Net Assets 2017: $163,5252017Assets 2018: $186,336Liabilities 2018: $3,094Net Assets 2018: $183,2422018Assets 2019: $205,696Liabilities 2019: $1,575Net Assets 2019: $204,1212019Assets 2020: $234,614Liabilities 2020: $6,246Net Assets 2020: $228,3682020Assets 2021: $306,647Liabilities 2021: $69,699Net Assets 2021: $236,9482021Assets 2022: $238,548Liabilities 2022: $21,024Net Assets 2022: $217,5242022Assets 2023: $240,658Liabilities 2023: $74,858Net Assets 2023: $165,8002023Assets 2024: $163,249Liabilities 2024: $50,156Net Assets 2024: $113,0932024

Highlighted filing

2016

Assets$138,830
Liabilities$4,238
Net Assets$134,592
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2016: $381,968Expenses 2016: $316,987Net Income 2016: $64,9812016Revenue 2017: $389,827Expenses 2017: $360,894Net Income 2017: $28,9332017Revenue 2018: $391,555Expenses 2018: $371,876Net Income 2018: $19,6792018Revenue 2019: $405,281Expenses 2019: $382,608Net Income 2019: $22,6732019Revenue 2020: $357,413Expenses 2020: $333,166Net Income 2020: $24,2472020Revenue 2021: $345,590Expenses 2021: $357,010Net Income 2021: -$11,4202021Revenue 2022: $373,474Expenses 2022: $412,898Net Income 2022: -$39,4242022Revenue 2023: $342,422Expenses 2023: $394,146Net Income 2023: -$51,7242023Revenue 2024: $384,891Expenses 2024: $437,598Net Income 2024: -$52,7072024

Highlighted filing

2016

Revenue$381,968
Expenses$316,987
Net Income$64,981
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 21, 2017
Return Version
2016v3.0
Gross Receipts
$427,274
Mission and Program Overview

Mission

To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximizes resources, and emphasizes cooperation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$55,877$125,310▲ $69,433
Land, Buildings, and Equipment, Net$16,508$13,520▼ $2,988
Total Assets$72,385$138,830▲ $66,445
Liabilities
Accounts Payable and Accrued Expenses$2,774$4,238▲ $1,464
Total Liabilities$2,774$4,238▲ $1,464
Net Assets / Fund Balance
Unrestricted Net Assets$69,611$134,592▲ $64,981
Total Net Assets Fund Balance$69,611$134,592▲ $64,981
Total Liabilities and Net Assets / Fund Balance$72,385$138,830▲ $66,445

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,520$69,962$83,482
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleBaseTotal
Anthony GalloPresident$74,000$74,000

Board Members and Trustees

NameTitle
Ed SkiminChairman
Edwin OleyPast Chairma
Timothy KingVice Chairma
Brian JankowskiTrustee
Charlotte WayTrustee
Chase RitenauerTrustee
Darryl TuckerTrustee
Gayle De La PorteTrustee
Holly BrindaTrustee
John BryanTrustee
Kevin J FlaniganTrustee
Kevin NelsonTrustee
Kurt RaicevichTrustee
Marcia BallingerTrustee
Michael SprengerTrustee
Michele WilliamsonTrustee
Mike HerrickTrustee
Philip AmosTrustee
Richard J ColellaTrustee
Sharon ParsonTrustee
Ted KaloTrustee
Kevin KnightSecretary
Chris MeadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$305,531
Investment Income
$0
Other Revenue
$76,437
Change in Net Assets
$64,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$217,147
Other Expenses$99,840
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$164,027--$164,027
Other Employee Benefits$40,446--$40,446
All Other Expenses$17,762--$17,762
Payroll Taxes$12,674--$12,674
Office Expenses$9,818--$9,818
Fees for Services Accounting$6,430--$6,430
Other Expenses$5,481--$5,481
Depreciation Depletion$2,988--$2,988
Insurance$2,071--$2,071
Fees for Services Legal$2,000--$2,000
Total Functional Expenses$316,987$0$0$316,987
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$100,919
Fundraising Direct Expenses$45,306
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Business Expo$33,900$33,900$8,625$25,275
Golf Outing$25,598$25,598$13,808$11,790
Total Events$94,748$94,748$40,145$54,603
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Will distribute draft copy to board before filing.”

Form 990, Page 6, Part VI, Line 15A

“Per board review and approval.”

Form 990, Page 6, Part VI, Line 15B

“Per board review and approval.”

Form 990, Page 6, Part VI, Line 19

“Upon request with the organization or executive committee.”

Filing and Contact Details

Filer

Filer Name
Lorain County Chamber
EIN
34-1557587
Phone
4403282550
Address
226 MIDDLE AVENUE - 5TH FLOOR, ELYRIA, OH 44035

Signing Officer

Name
Anthony Gallo
Title
President
Phone
4403282550
Signed
2017-07-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Gallo
Formed
1988
Legal Domicile
Oh
Voting Board Members
24
Independent Board Members
23
Employees
3
Volunteers
10

Preparer

Firm
Elek & Noss LLC
Address
PO BOX 250, GRAFTON, OH 44044-0250
Preparer
Gregory J Elek CPA
Phone
4409269300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximizes resources, and emphasizes cooperation.”

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IRS990/NetAssetsOrFundBalancesBOYAmt069611
IRS990/NetAssetsOrFundBalancesEOYAmt0134592
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt055613
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ProgramServicesAmt09818
IRS990/OfficeExpensesGrp/TotalAmt09818
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt040446
IRS990/OtherEmployeeBenefitsGrp/TotalAmt040446
IRS990/OtherExpensesGrp/Desc0BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1INTERNAL MANAGEMENT
IRS990/OtherExpensesGrp/Desc2AUTOMOBILE EXPENSE
IRS990/OtherExpensesGrp/Desc3GOVERNMENT AFFAIR
IRS990/OtherExpensesGrp/ProgramServicesAmt024873
IRS990/OtherExpensesGrp/ProgramServicesAmt120260
IRS990/OtherExpensesGrp/ProgramServicesAmt28157
IRS990/OtherExpensesGrp/ProgramServicesAmt35481
IRS990/OtherExpensesGrp/TotalAmt024873
IRS990/OtherExpensesGrp/TotalAmt120260
IRS990/OtherExpensesGrp/TotalAmt28157
IRS990/OtherExpensesGrp/TotalAmt35481
IRS990/OtherRevenueMiscGrp/Desc0INTERNAL MANAGEMENT
IRS990/OtherRevenueMiscGrp/Desc1BOARD/STAFF
IRS990/OtherRevenueMiscGrp/Desc2MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt013275
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt16499
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt21050
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt013275
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt16499
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt21050
IRS990/OtherRevenueTotalAmt020824
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0164027
IRS990/OtherSalariesAndWagesGrp/TotalAmt0164027
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt012674
IRS990/PayrollTaxesGrp/TotalAmt012674
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY GALLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1BUSINESS DEVELOPMENT
IRS990/ProgramServiceRevenueGrp/Desc2GOVERNMENT AFFAIRS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0225170
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt172199
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt28162
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0225170
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt172199
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt28162
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYOtherExpensesAmt0110847
IRS990/PYOtherRevenueAmt088148
IRS990/PYProgramServiceRevenueAmt0290106
IRS990/PYRevenuesLessExpensesAmt039024
IRS990/PYSalariesCompEmpBnftPaidAmt0228383
IRS990/PYTotalExpensesAmt0339230
IRS990/PYTotalRevenueAmt0378254
IRS990/ReconcilationRevenueExpnssAmt064981
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0381968
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt013520
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069962
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt083482
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013520
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt040145
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BUSINESS EXPO
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0GOLF OUTING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt033900
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt025598
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt035250
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt094748
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt033900
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt025598
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt035250
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt094748
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt054603
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt017712
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt040145
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt08625
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt013808
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt04
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZES RESOURCES, AND EMPHASIZES COOPERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WILL DISTRIBUTE DRAFT COPY TO BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST WITH THE ORGANIZATION OR EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt072385
IRS990/TotalAssetsEOYAmt0138830
IRS990/TotalAssetsGrp/BOYAmt072385
IRS990/TotalAssetsGrp/EOYAmt0138830
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0316987
IRS990/TotalFunctionalExpensesGrp/TotalAmt0316987
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02774
IRS990/TotalLiabilitiesEOYAmt04238
IRS990/TotalLiabilitiesGrp/BOYAmt02774
IRS990/TotalLiabilitiesGrp/EOYAmt04238
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt069611
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0134592
IRS990/TotalProgramServiceExpensesAmt0316987
IRS990/TotalProgramServiceRevenueAmt0305531
IRS990/TotalReportableCompFromOrgAmt074000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0326355
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0381968
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt072385
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0138830
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt069611
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0134592
IRS990/UponRequestInd0X

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$138,830
Liabilities
$4,238
Net assets
$134,592
Revenue
$381,968
Expenses
$316,987
Net income
$64,981
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.63$0.50$1.13$3.85$4.38$0.53
2023Detailed filing. Detailed filing data is available for this year.$2.41$0.75$1.66$3.42$3.94$0.52
2022Detailed filing. Detailed filing data is available for this year.$2.39$0.21$2.18$3.73$4.13$0.39
2021Detailed filing. Detailed filing data is available for this year.$3.07$0.70$2.37$3.46$3.57$0.11
2020Detailed filing. Detailed filing data is available for this year.$2.35$0.06$2.28$3.57$3.33$0.24
2019Detailed filing. Detailed filing data is available for this year.$2.06$0.02$2.04$4.05$3.83$0.23
2018Detailed filing. Detailed filing data is available for this year.$1.86$0.03$1.83$3.92$3.72$0.20
2017Detailed filing. Detailed filing data is available for this year.$1.65$0.02$1.64$3.90$3.61$0.29
2016Detailed filing. Detailed filing data is available for this year.$1.39$0.04$1.35$3.82$3.17$0.65