Civic Intelligence

Lorain County Chamber

990 • Fiscal year 2019 • EIN 34-1557587

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 15, 2020

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

54th percentile

0.01x

Higher debt load relative to assets than 54% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

51st percentile

0.00x

Higher debt load relative to revenue than 51% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

58th percentile

5.6%

Higher net margin than 58% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

71st percentile

$0

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Asset Growth

64th percentile

10%

Faster asset growth than 64% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

56th percentile

3.5%

Faster revenue growth than 56% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$205,696

Up $19,360 (+10%) from 2018

Net Assets

Up

$204,121

Up $20,879 (+11%) from 2018

Liabilities

Down

$1,575

Down $1,519 (-49%) from 2018

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin58th percentile

Revenue

Up

$405,281

Up $13,726 (+3.5%) from 2018

Expenses

Up

$382,608

Up $10,732 (+2.9%) from 2018

Net Income

Up

$22,673

Up $2,994 (+15%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth64th 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

2019

Assets$205,696
Liabilities$1,575
Net Assets$204,121
Open 2019 Filing

Operations Trend

Revenue Growth56th 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

2019

Revenue$405,281
Expenses$382,608
Net Income$22,673
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 15, 2020
Return Version
2019v5.0
Gross Receipts
$467,994
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$178,792$199,946▲ $21,154
Land, Buildings, and Equipment, Net$7,544$5,750▼ $1,794
Total Assets$186,336$205,696▲ $19,360
Liabilities
Accounts Payable and Accrued Expenses$3,094$1,575▼ $1,519
Total Liabilities$3,094$1,575▼ $1,519
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$183,242$204,121▲ $20,879
Total Net Assets Fund Balance$183,242$204,121▲ $20,879
Total Liabilities and Net Assets / Fund Balance$186,336$205,696▲ $19,360

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,750$77,732$83,482
Compensation and Service Providers
Top Officer Pay71st percentile

Board Members and Trustees

NameTitle
Kevin KnightChairman
Ed SkiminPast Chairma
Anthony GalloPresident
Brian JankowskiTrustee
Darryl TuckerTrustee
Gayle De La PorteTrustee
Jason CoeTrustee
John BryanTrustee
Jon CromlingTrustee
Kevin J FlaniganTrustee
Kevin NelsonTrustee
Kurt RaicevichTrustee
Marcia BallingerTrustee
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
$236,853
Program Service Revenue
$86,191
Investment Income
$0
Other Revenue
$82,237
All Other Contributions
$20,000
Change in Net Assets
$22,673
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$259,023
Other Expenses$123,585
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$196,287--$196,287
Other Employee Benefits$47,911--$47,911
All Other Expenses$23,576--$23,576
Occupancy$20,000--$20,000
Payroll Taxes$14,825--$14,825
Other Expenses$8,755--$8,755
Fees for Services Accounting$6,930--$6,930
Insurance$5,392--$5,392
Office Expenses$2,649--$2,649
Total Functional Expenses$382,608$0$0$382,608
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$130,811
Fundraising Direct Expenses$62,713
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Business Expo$35,550$35,550$8,133$27,417
Economic Develo$31,255$31,255$17,206$14,049
Total Events$121,186$121,186$59,421$61,765
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
2020-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Gallo
Formed
1988
Legal Domicile
Oh
Voting Board Members
22
Independent Board Members
21
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.”

Form 990, Page 2, Part III, Line 4D

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

Form 990, Part XI, Line 9

“Book / tax depreciation difference -1,794”

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IRS990/OtherExpensesGrp/Desc2COMPUTER EXPENSES
IRS990/OtherExpensesGrp/Desc3AUTOMOBILE EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt025177
IRS990/OtherExpensesGrp/ProgramServicesAmt119710
IRS990/OtherExpensesGrp/ProgramServicesAmt211396
IRS990/OtherExpensesGrp/ProgramServicesAmt38755
IRS990/OtherExpensesGrp/TotalAmt025177
IRS990/OtherExpensesGrp/TotalAmt119710
IRS990/OtherExpensesGrp/TotalAmt211396
IRS990/OtherExpensesGrp/TotalAmt38755
IRS990/OtherRevenueMiscGrp/Desc0BOARD/STAFF
IRS990/OtherRevenueMiscGrp/Desc1CERFIFICATES OF ORIGIN
IRS990/OtherRevenueMiscGrp/Desc2MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt08196
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt14500
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt21443
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt08196
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt14500
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt21443
IRS990/OtherRevenueTotalAmt014139
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0196287
IRS990/OtherSalariesAndWagesGrp/TotalAmt0196287
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt014825
IRS990/PayrollTaxesGrp/TotalAmt014825
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY GALLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0BUSINESS DEVELOPMENT
IRS990/ProgramServiceRevenueGrp/Desc1GOVERNMENT AFFAIRS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt076657
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt19534
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt076657
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt19534
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZED RESOURCES, AND EMPHASIZES COOPERATION.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt02930
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0200299
IRS990/PYOtherExpensesAmt0126655
IRS990/PYOtherRevenueAmt0118339
IRS990/PYProgramServiceRevenueAmt072917
IRS990/PYRevenuesLessExpensesAmt019679
IRS990/PYSalariesCompEmpBnftPaidAmt0245221
IRS990/PYTotalExpensesAmt0371876
IRS990/PYTotalRevenueAmt0391555
IRS990/ReconcilationRevenueExpnssAmt022673
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0355257
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt05750
IRS990ScheduleD/EquipmentGrp/DepreciationAmt077732
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt083482
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05750
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt059421
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BUSINESS EXPO
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ECONOMIC DEVELO
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt035550
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt031255
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt054381
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0121186
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt035550
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt031255
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt054381
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0121186
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt061765
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt034082
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt059421
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt08133
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt017206
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt03
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/ExplanationTxt1TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZED RESOURCES, AND EMPHASIZES COOPERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WILL DISTRIBUTE DRAFT COPY TO BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST WITH THE ORGANIZATION OR EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOOK / TAX DEPRECIATION DIFFERENCE -1,794
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0186336
IRS990/TotalAssetsEOYAmt0205696
IRS990/TotalAssetsGrp/BOYAmt0186336
IRS990/TotalAssetsGrp/EOYAmt0205696
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0236853
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0382608
IRS990/TotalFunctionalExpensesGrp/TotalAmt0382608
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03094
IRS990/TotalLiabilitiesEOYAmt01575
IRS990/TotalLiabilitiesGrp/BOYAmt03094
IRS990/TotalLiabilitiesGrp/EOYAmt01575
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0183242
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0204121
IRS990/TotalOtherProgSrvcExpenseAmt02930
IRS990/TotalProgramServiceExpensesAmt0382608
IRS990/TotalProgramServiceRevenueAmt086191
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0100330
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0405281
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0186336
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0205696
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0226 MIDDLE AVENUE
IRS990/USAddress/CityNm0ELYRIA
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044035
IRS990/VotingMembersGoverningBodyCnt022
IRS990/VotingMembersIndependentCnt021
IRS990/WebsiteAddressTxt0WWW.LORAINCOUNTYCHAMBER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANTHONY GALLO

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$205,696
Liabilities
$1,575
Net assets
$204,121
Revenue
$405,281
Expenses
$382,608
Net income
$22,673
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