Civic Intelligence

Lorain County Chamber

990 • Fiscal year 2017 • EIN 34-1557587

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 17, 2018

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

53rd percentile

0.01x

Higher debt load relative to assets than 53% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

50th percentile

0.00x

Higher debt load relative to revenue than 50% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Net Margin

63rd percentile

7.4%

Higher net margin than 63% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

76th percentile

19%

Faster asset growth than 76% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

53rd percentile

2.1%

Faster revenue growth than 53% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$165,075

Up $26,245 (+19%) from 2016

Net Assets

Up

$163,525

Up $28,933 (+21%) from 2016

Liabilities

Down

$1,550

Down $2,688 (-63%) from 2016

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin63rd percentile

Revenue

Up

$389,827

Up $7,859 (+2.1%) from 2016

Expenses

Up

$360,894

Up $43,907 (+14%) from 2016

Net Income

Down

$28,933

Down $36,048 (-55%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

2017

Assets$165,075
Liabilities$1,550
Net Assets$163,525
Open 2017 Filing

Operations Trend

Revenue Growth53rd percentile

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

2017

Revenue$389,827
Expenses$360,894
Net Income$28,933
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 17, 2018
Return Version
2017v2.3
Gross Receipts
$448,928
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$125,310$154,543▲ $29,233
Land, Buildings, and Equipment, Net$13,520$10,532▼ $2,988
Total Assets$138,830$165,075▲ $26,245
Liabilities
Accounts Payable and Accrued Expenses$4,238$1,550▼ $2,688
Total Liabilities$4,238$1,550▼ $2,688
Net Assets / Fund Balance
Unrestricted Net Assets$134,592$163,525▲ $28,933
Total Net Assets Fund Balance$134,592$163,525▲ $28,933
Total Liabilities and Net Assets / Fund Balance$138,830$165,075▲ $26,245

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$10,532$72,950$83,482
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Anthony GalloPresidentFT$87,000$87,000

Board Members and Trustees

NameTitle
Ed SkiminChairman
Edwin OleyPast Chairma
Timothy KingVice Chairma
Brian JankowskiTrustee
Charlotte WrayTrustee
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 PearsonTrustee
Ted KaloTrustee
Tom KramigTrustee
Kevin KnightSecretary
Chris MeadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$292,405
Investment Income
$0
Other Revenue
$97,422
Change in Net Assets
$28,933
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$238,818
Other Expenses$122,076
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$187,699--$187,699
Other Employee Benefits$37,504--$37,504
Occupancy$20,000--$20,000
Payroll Taxes$13,615--$13,615
All Other Expenses$11,781--$11,781
Office Expenses$10,620--$10,620
Fees for Services Accounting$6,715--$6,715
Other Expenses$5,591--$5,591
Insurance$4,799--$4,799
Depreciation Depletion$2,988--$2,988
Total Functional Expenses$360,894$0$0$360,894
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$119,883
Fundraising Direct Expenses$59,101
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Business Expo$35,165$35,165$7,886$27,279
Economic Develo$24,545$24,545$14,955$9,590
Total Events$114,853$114,853$52,992$61,861
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
2018-08-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Gallo
Formed
1988
Legal Domicile
Oh
Voting Board Members
25
Independent Board Members
24
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/FundraisingActivitiesInd0true
IRS990/FundraisingDirectExpensesAmt059101
IRS990/FundraisingGrossIncomeAmt0119883
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0448928
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt024
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt04799
IRS990/InsuranceGrp/TotalAmt04799
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt072950
IRS990/LandBldgEquipBasisNetGrp/BOYAmt013520
IRS990/LandBldgEquipBasisNetGrp/EOYAmt010532
IRS990/LandBldgEquipCostOrOtherBssAmt083482
IRS990/LegalDomicileStateCd0OH
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt01300
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt01300
IRS990/MissionDesc0TO 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.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0134592
IRS990/NetAssetsOrFundBalancesEOYAmt0163525
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt060782
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt020000
IRS990/OccupancyGrp/TotalAmt020000
IRS990/OfficeExpensesGrp/ProgramServicesAmt010620
IRS990/OfficeExpensesGrp/TotalAmt010620
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt037504
IRS990/OtherEmployeeBenefitsGrp/TotalAmt037504
IRS990/OtherExpensesGrp/Desc0BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1INTERNAL MANAGEMENT
IRS990/OtherExpensesGrp/Desc2AUTOMOBILE EXPENSE
IRS990/OtherExpensesGrp/Desc3FINANCE/CREDIT CARD FEES
IRS990/OtherExpensesGrp/ProgramServicesAmt031183
IRS990/OtherExpensesGrp/ProgramServicesAmt119070
IRS990/OtherExpensesGrp/ProgramServicesAmt29329
IRS990/OtherExpensesGrp/ProgramServicesAmt35591
IRS990/OtherExpensesGrp/TotalAmt031183
IRS990/OtherExpensesGrp/TotalAmt119070
IRS990/OtherExpensesGrp/TotalAmt29329
IRS990/OtherExpensesGrp/TotalAmt35591
IRS990/OtherRevenueMiscGrp/Desc0DONATED RENT
IRS990/OtherRevenueMiscGrp/Desc1BOARD/STAFF
IRS990/OtherRevenueMiscGrp/Desc2INTERNAL MANAGEMENT
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt020000
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt18594
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt26746
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt020000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt18594
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt26746
IRS990/OtherRevenueTotalAmt036640
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0187699
IRS990/OtherSalariesAndWagesGrp/TotalAmt0187699
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt013615
IRS990/PayrollTaxesGrp/TotalAmt013615
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY GALLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1BUSINESS DEVELOPMENT
IRS990/ProgramServiceRevenueGrp/Desc2GOVERNMENT AFFAIRS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0209760
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt174401
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt28244
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0209760
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt174401
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt28244
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYOtherExpensesAmt099840
IRS990/PYOtherRevenueAmt076437
IRS990/PYProgramServiceRevenueAmt0305531
IRS990/PYRevenuesLessExpensesAmt064981
IRS990/PYSalariesCompEmpBnftPaidAmt0217147
IRS990/PYTotalExpensesAmt0316987
IRS990/PYTotalRevenueAmt0381968
IRS990/ReconcilationRevenueExpnssAmt028933
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0389827
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt010532
IRS990ScheduleD/EquipmentGrp/DepreciationAmt072950
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt083482
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010532
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt052992
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BUSINESS EXPO
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ECONOMIC DEVELO
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt035165
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt024545
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt055143
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0114853
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt035165
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt024545
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt055143
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0114853
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt061861
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt030151
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt052992
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt07886
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt014955
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt05
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/TotalAssetsBOYAmt0138830
IRS990/TotalAssetsEOYAmt0165075
IRS990/TotalAssetsGrp/BOYAmt0138830
IRS990/TotalAssetsGrp/EOYAmt0165075

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$165,075
Liabilities
$1,550
Net assets
$163,525
Revenue
$389,827
Expenses
$360,894
Net income
$28,933
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