Civic Intelligence

Lorain County Chamber

990 • Fiscal year 2018 • EIN 34-1557587

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 17, 2019

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

57th percentile

0.02x

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

53rd percentile

0.01x

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Net Margin

57th percentile

5.0%

Higher net margin than 57% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

70th percentile

13%

Faster asset growth than 70% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

49th percentile

0.4%

Faster revenue growth than 49% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$186,336

Up $21,261 (+13%) from 2017

Net Assets

Up

$183,242

Up $19,717 (+12%) from 2017

Liabilities

Up

$3,094

Up $1,544 (+100%) from 2017

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin57th percentile

Revenue

Up

$391,555

Up $1,728 (+0.4%) from 2017

Expenses

Up

$371,876

Up $10,982 (+3.0%) from 2017

Net Income

Down

$19,679

Down $9,254 (-32%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2018

Assets$186,336
Liabilities$3,094
Net Assets$183,242
Open 2018 Filing

Operations Trend

Revenue Growth49th 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

2018

Revenue$391,555
Expenses$371,876
Net Income$19,679
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 17, 2019
Return Version
2018v3.1
Gross Receipts
$451,109
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$154,543$178,792▲ $24,249
Land, Buildings, and Equipment, Net$10,532$7,544▼ $2,988
Total Assets$165,075$186,336▲ $21,261
Liabilities
Accounts Payable and Accrued Expenses$1,512$3,094▲ $1,582
Total Liabilities$1,512$3,094▲ $1,582
Net Assets / Fund Balance
Unrestricted Net Assets$163,563$183,242▲ $19,679
Total Net Assets Fund Balance$163,563$183,242▲ $19,679
Total Liabilities and Net Assets / Fund Balance$165,075$186,336▲ $21,261

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,544$75,938$83,482
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleBaseTotal
Anthony GalloPresident$86,725$86,725

Board Members and Trustees

NameTitle
Kevin KnightChairman
Ed SkiminPast Chairma
Brian JankowskiTrustee
Chase RitenauerTrustee
Darryl TuckerTrustee
Elijah WhiteTrustee
Gayle De La PorteTrustee
Holly BrindaTrustee
John BryanTrustee
Kevin J FlaniganTrustee
Kevin NelsonTrustee
Kurt RaicevichTrustee
Marcia BallingerTrustee
Michael SprengerTrustee
Michele WilliamsonTrustee
Mike HerrickTrustee
Richard J ColellaTrustee
Ted KaloTrustee
Tom KramigTrustee
Sharon PearsonAt Large
Timothy KingSecretary
Chris MeadTreasurer
Philip AmosVice Charima
Revenue and Support

Revenue Composition

Contributions and Grants
$200,299
Program Service Revenue
$72,917
Investment Income
$0
Other Revenue
$118,339
Change in Net Assets
$19,679
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$245,221
Other Expenses$126,655
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$190,073--$190,073
Other Employee Benefits$40,752--$40,752
All Other Expenses$20,752--$20,752
Occupancy$20,000--$20,000
Payroll Taxes$14,396--$14,396
Other Expenses$6,774--$6,774
Insurance$4,799--$4,799
Fees for Services Accounting$4,650--$4,650
Depreciation Depletion$2,988--$2,988
Office Expenses$2,459--$2,459
Fees for Services Legal$2,380--$2,380
Total Functional Expenses$371,876$0$0$371,876
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$123,655
Fundraising Direct Expenses$59,554
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Business After$123,655$123,655$59,554$64,101
Total Events$123,655$123,655$59,554$64,101
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
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
2019-07-17
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/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/NetAssetsOrFundBalancesBOYAmt0163563
IRS990/NetAssetsOrFundBalancesEOYAmt0183242
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt064101
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt020000
IRS990/OccupancyGrp/TotalAmt020000
IRS990/OfficeExpensesGrp/ProgramServicesAmt02459
IRS990/OfficeExpensesGrp/TotalAmt02459
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt040752
IRS990/OtherEmployeeBenefitsGrp/TotalAmt040752
IRS990/OtherExpensesGrp/Desc0INTERNAL MANAGEMENT
IRS990/OtherExpensesGrp/Desc1BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2AUTOMOBILE EXPENSE
IRS990/OtherExpensesGrp/Desc3PRINTING & COPING
IRS990/OtherExpensesGrp/ProgramServicesAmt030289
IRS990/OtherExpensesGrp/ProgramServicesAmt122261
IRS990/OtherExpensesGrp/ProgramServicesAmt29303
IRS990/OtherExpensesGrp/ProgramServicesAmt36774
IRS990/OtherExpensesGrp/TotalAmt030289
IRS990/OtherExpensesGrp/TotalAmt122261
IRS990/OtherExpensesGrp/TotalAmt29303
IRS990/OtherExpensesGrp/TotalAmt36774
IRS990/OtherRevenueMiscGrp/Desc0BOARD/STAFF
IRS990/OtherRevenueMiscGrp/Desc1DONATED RENT
IRS990/OtherRevenueMiscGrp/Desc2INTERNAL MANAGEMENT
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt027866
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt120000
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt25222
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt027866
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt120000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt25222
IRS990/OtherRevenueTotalAmt054238
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0190073
IRS990/OtherSalariesAndWagesGrp/TotalAmt0190073
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt014396
IRS990/PayrollTaxesGrp/TotalAmt014396
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY GALLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0BUSINESS DEVELOPMENT
IRS990/ProgramServiceRevenueGrp/Desc1GOVERNMENT AFFAIRS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt064347
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18570
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt064347
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18570
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYOtherExpensesAmt0122076
IRS990/PYOtherRevenueAmt097422
IRS990/PYProgramServiceRevenueAmt0292405
IRS990/PYRevenuesLessExpensesAmt028933
IRS990/PYSalariesCompEmpBnftPaidAmt0238818
IRS990/PYTotalExpensesAmt0360894
IRS990/PYTotalRevenueAmt0389827
IRS990/ReconcilationRevenueExpnssAmt019679
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0395155
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt07544
IRS990ScheduleD/EquipmentGrp/DepreciationAmt075938
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt083482
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07544
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt059554
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BUSINESS AFTER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0123655
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0123655
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0123655
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0123655
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt064101
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt059554
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt059554
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0165075
IRS990/TotalAssetsEOYAmt0186336
IRS990/TotalAssetsGrp/BOYAmt0165075
IRS990/TotalAssetsGrp/EOYAmt0186336
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0200299
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0371876
IRS990/TotalFunctionalExpensesGrp/TotalAmt0371876
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01512
IRS990/TotalLiabilitiesEOYAmt03094
IRS990/TotalLiabilitiesGrp/BOYAmt01512
IRS990/TotalLiabilitiesGrp/EOYAmt03094
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0163563
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0183242
IRS990/TotalProgramServiceExpensesAmt0371876
IRS990/TotalProgramServiceRevenueAmt072917
IRS990/TotalReportableCompFromOrgAmt086725
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0127155
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0391555
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0165075
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0186336
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0163563
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0183242
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0226 MIDDLE AVENUE
IRS990/USAddress/CityNm0ELYRIA
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044035
IRS990/VotingMembersGoverningBodyCnt024

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$186,336
Liabilities
$3,094
Net assets
$183,242
Revenue
$391,555
Expenses
$371,876
Net income
$19,679
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